Articles | Compliance Week – Page 184
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Article
Continuity acquires TraceRisk
Continuity, a compliance management systems provider for financial services organizations, announced the acquisition of cloud-based enterprise risk management solutions firm TraceRisk.
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ArticleWhistleblower awarded $7M for ‘limited assistance’
A whistleblower who provided the Commodity Futures Trading Commission with “limited assistance” about misconduct that prompted an investigation was still awarded $7 million, the agency announced.
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ArticleStudy: Small firms more likely to report ineffective ICFR
A recent study from Audit Analytics that analyzed SOX 404 disclosures in the past 15 years reveals some interesting trends surrounding large and small companies’ internal control over financial reporting.
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ArticleFRC investigates EY over Thomas Cook’s books
The U.K. Financial Reporting Council is investigating EY over the audit work it carried out at travel firm Thomas Cook, which recently declared bankruptcy.
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Article
SEC modernizes rules on exchange-traded funds
Despite an effective date about a year out, regulated entities still need to make some decisions now about policies and procedures if they are relying on a new regulation applying to exchange-traded funds.
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ArticleCompliance lessons from Quad/Graphics’ $10M FCPA settlement
Quad/Graphics will pay $10 million to resolve SEC charges that it violated the Foreign Corrupt Practices Act by engaging in widespread bribery schemes in Peru and China, but the compliance lessons are priceless.
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ArticleCompliance takeaways from Barclays’ $6.3M FCPA settlement
Barclays joins a growing list of financial institutions to pay a penalty for violations of the books and records and internal accounting controls provisions of the FCPA due to questionable hiring practices.
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SEC reaches settlements with 17 advisory firms over disclosure failures
The SEC on Monday announced settled charges against 17 investment advisers for disclosure failures regarding their mutual fund share class selection practices.
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ArticleWestport Fuels, former CEO pay $4.1M in FCPA case
Westport Fuels Systems and its former CEO have reached a $4.1 million settlement with the SEC for violating the Foreign Corrupt Practices Act by paying bribes to a foreign government official in China.
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ArticleAvanir to pay $116M for engaging in kickback scheme
Avanir Pharmaceuticals will pay a combined $116 million in civil and criminal penalties for paying kickbacks to a physician to induce prescriptions of its drug Nuedexta, the Department of Justice announced.
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ArticleBMO firms to pay $37M for misleading clients
Two BMO advisory firms have agreed to pay over $37 million in a settlement with the SEC for misleading clients on aspects of their retail investment advisory program.
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ArticleFiat Chrysler to pay $40M for misleading investors
Automaker FCA U.S. and its parent company, Fiat Chrysler Automobiles, have reached a $40 million settlement with the SEC for misleading investors about the number of new vehicles sold each month to customers in the United States.
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ArticleUnderstanding Canada’s new diversity disclosure requirements
Starting next year, Canadian companies will be required to disclose much more about their diversity efforts, including many who will have to do so for the very first time.
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ArticleSEC ends accounting probe into PPG
PPG announced the SEC and Department of Justice have ended their investigation into alleged accounting irregularities by the company and will not be issuing a financial or any other penalty.
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ArticleFCA fines Prudential $26.4M in misselling scandal
The U.K. Financial Conduct Authority has hit Prudential with a £23.8 million (U.S. $26.4 million) fine for misleading 17,000 customers into accepting a deal with the insurance firm when they might have done better on the open market.
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ArticleProposed bill targets FASB rulemaking procedures
Rep. Blaine Luetkemeyer (R-Mo.) on Friday introduced a bill that would subject the Financial Accounting Standards Board to the rulemaking guidelines of federal financial regulators.
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ArticleHerbalife fined $20M for misleading investors
Herbalife will pay $20 million to settle charges with the SEC that it made false and misleading statements about its China compensation model.
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ArticleMylan finalizes $30M EpiPen settlement with SEC
Mylan has finalized a previously disclosed $30 million settlement with the SEC for alleged accounting and disclosure failures surrounding its popular EpiPen.
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HITRUST enhances compliance assessment platform
HITRUST, a data protection standards development and certification organization, announced a significant new release of its information risk and compliance assessment SaaS platform, MyCSF.
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Article
Integrated Compliance Solutions to acquire Sterling Compliance
Integrated Compliance Solutions announced it has signed a definitive agreement to acquire all the outstanding shares of Sterling Compliance.