Articles | Compliance Week – Page 213
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ArticleEnforcement actions against accountants on the decline
Accountants and auditors are getting a lighter touch from enforcement authorities, according to an analysis that shows actions dropped significantly from 2017 to 2018.
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Swedbank creates new unit to combat financial crime
As Swedbank faces multiple investigations into money laundering practices, the bank’s acting president and CEO Anders Karlsson recently announced the formation of a new unit to combat financial crime.
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ArticleCFTC proposes to amend derivatives clearing organization regulations
The Commodity Futures Trading Commission on April 29 issued a proposed rule to amend certain regulations that apply to derivatives clearing organizations (DCOs) under Part 39 of the CFTC’s regulations. Part 39 implements the statutory core principles for DCOs.
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ArticleInvestors ask SEC to revise non-GAAP rules on comp disclosure
Non-GAAP reporting is obscuring executive compensation disclosures in proxy statements, investors say, and they are asking the SEC to revise its rules.
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ArticleSEC charges compliance officer in ticket resale scam
The SEC has charged a CCO with perpetuating a previously charged scheme run by his cousin that involved stealing millions of dollars from investors.
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ArticleFirst-quarter reports add lease assets, liabilities
First-quarter reports reflecting new lease accounting rules are beginning to trickle into the market, adding billions in assets and liabilities to balance sheets.
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Justice Department revises the Evaluation of Corporate Compliance Programs
The Department of Justice on April 30 released a revised, more comprehensive guidance describing specific factors that prosecutors should consider when evaluating corporate compliance programs.
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ArticleWhat you can expect from our new Website
Thursday marks an important milestone for Compliance Week, a culmination of months of planning and building the customized digital platform our subscribers deserve.
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ArticleEuropean Union adopts law to protect gig workers
Gig workers in the European Union—those workers in nontraditional roles—have been granted new rights by the European Parliament.
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ArticleCFTC approves proposed rule to improve quality for swap data repositories
The Commodity Futures Trading Commission approved a proposed rule to improve the quality of swap data and update and streamline regulations related to swap data repository operations and governance.
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FASB clarifies financial instruments rules, including CECL
FASB issued an update to accounting standards to clarify new rules on CECL, hedging, and recognition and measurement of financial instruments.
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ArticleAstellas, Amgen to pay $124.75M for False Claims Act violations
Pharmaceutical companies Astellas and Amgen will pay a total of $124.75 million to resolve allegations that they violated the False Claims Act by illegally paying the Medicare co-pays for their own high-priced drugs.
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Glencore announces CFTC probe
The U.S. Commodity Futures Trading Commission is investigating whether multinational commodity trading and mining company Glencore and its subsidiaries might have violated certain provisions of the Commodity Exchange Act and/or CFTC regulations.
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ArticleTax leaders look to retool compliance to cope with change
Overwhelmed by an onslaught of requirements, data, and technology, tax departments are beginning to look for new ways to achieve compliance.
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ArticleCeladon Group to pay $42.2M in restitution for accounting fraud
Trucking company Celadon Group entered into a corporate resolution for securities fraud and will pay total restitution of $42.2 million for filing materially false and misleading statements to investors and falsifying books, records, and accounts.
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Skillsoft, Convercent partner on hotline offering
Corporate learning firm Skillsoft announced new content and platform products, including a partnership with ethics and software provider Convercent regarding its hotline and case management offerings.
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ArticleOptions drive more risk than stock, study says
Company executives may be more likely to take on risk when their compensation is based more on stock options than stock awards, a new study says.
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ArticleDelaware ramps up revised unclaimed property approach
Delaware’s Secretary of State is inviting corporations incorporated in that state to join it in resolving any outstanding unclaimed property issues. The invite comes with a catch: Companies must respond within 60 days or face an unclaimed property audit.
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ArticleCFPB to provide more information to firms under investigation
The Consumer Financial Protection Bureau says it will provide financial services firms under investigation more detail on what violations prompted the agency’s scrutiny.
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ArticleBed Bath & Beyond revamps board; shareholders revolt
In response to shareholder backlash, Bed Bath & Beyond has made several changes to its board, as well as a series of additional governance enhancements, but activist investors say the changes aren’t enough and issued a joint statement expressing their many concerns.