Articles | Compliance Week – Page 216
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ArticleAnalysts offer tips on reading financials with leases added
Analysts are advising investors to buckle up in preparation for first-quarter results that will, for the first time, include leases on the balance sheet.
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ArticleRoughly half of S&P 500 disclose expected CECL impact
A little more than half of the S&P 500 have disclosed something about how they expect to be affected by CECL reporting when it begins next year.
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ArticleCommissioners speak to SEC’s past, and future
Top officials at the SEC shared their agendas and future priorities at the recent SEC Speaks conference. Chairman Jay Clayton gave “a look at the SEC through the eyes of management,” and Commissioner Elad Roisman spoke of “encouraging smaller entrants to capital markets.”
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ArticleStandard Chartered Bank to pay $1.1B for sanctions violations
Standard Chartered Bank, a U.K.-based financial institution, will pay a total of $1.1 billion in a global settlement for sanctions violations.
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ArticleU.K. gets tough on social media firms
Social media companies should beware new U.K. rules that say they’ll be subject to a new statutory duty of care making them responsiblie for their users’ safety.
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SFO Director Lisa Osofsky on fighting corruption
In remarks made on 3 April at the Royal United Services Institute in London, Serious Fraud Office Director Lisa Osofsky discussed the agency’s recent efforts and what she has learned on the job so far.
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ArticleEDPS investigating contractual arrangements concerning software used by EU firms
The European Data Protection Supervisor, which is responsible for enforcing and monitoring EU companies’ compliance with data protection rules, said it is has launched an investigation into the compliance of contractual arrangements between EU institutions and Microsoft.
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ArticleRoadrunner executives charged with accounting fraud
The SEC and the Department of Justice brought civil and criminal charges against three former executives of transportation company Roadrunner Transportation Systems for their alleged role in a complex securities and accounting fraud scheme that resulted in a loss of more than $245 million in shareholder value.
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Alvarez & Marsal launches web tool for leases
Global professional services firm Alvarez & Marsal announced the launch of LeaseSCRE, a web-based tool that uses machine learning to estimate an incremental borrowing rate (IBR) curve.
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ArticleCAMs are coming, and companies should warn investors
Audit reports are about to get a lot longer, and companies would be wise to give financial statement users some advance warning to head off any knee-jerk reactions.
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ArticleFASB rejects bank request to ease CECL effects on income
The Financial Accounting Standards Board has rejected a proposal by some banks to revise the pending credit losses standard, due to take effect Jan. 1, 2020.
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Warren bills seek expanded criminal liability for executives
Sen. Elizabeth Warren (D-Mass.) has introduced one bill and reintroduced another seeking to hold executives of large corporations criminally responsible when their companies repeatedly violate federal law.
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Allison H. Lee, former counsel to Kara Stein, nominated to SEC
President Trump will nominate Allison Herren Lee, of Colorado, to serve at the SEC. Lee, a Democrat, would fill the seat vacated by Kara Stein, restoring the five-member Commission to full strength.
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ArticleSurvey: Companies seek both ‘soft,’ technical skills in compliance hiring
A new survey from Compliance Week and the Seton Hall School of Law gets to the heart of what employers are seeking in a chief compliance officer today.
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Special committee report details governance reforms needed at Nissan
Last year, Japanese automaker Nissan formed a “Special Committee for Improving Governance” after its chairman Carlos Ghosn was arrested for engaging in financial misconduct. On March 27, the special committee published its findings, holding nothing back.
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ArticleLeave it to Trump to show us how not to hire a CCO
The Trump Organization reportedly has a new head of compliance, but was that hire, and whatever process was behind the pick, suitable for such an important position?
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ArticleFCA regulation now in effect for claims management companies
The U.K. Financial Conduct Authority has issued a reminder for the claims management industry: As of 1 April, all claims management companies in England, Scotland, and Wales will have to demonstrate that they meet and maintain minimum standards set by the FCA.
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Lockpath updates Keylight Platform
Integrated risk management solutions provider Lockpath announced the newest update to the Keylight Platform, designed to increase the efficiency and usability of the solution.
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Diamonds not always the FTC’s best friend
The Federal Trade Commission has sent letters to jewelry marketers warning them that some of their advertisements for jewelry made with simulated or laboratory-created diamonds may be in violation of the FTC Act.
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Hertz sues former executives to recoup compensation
Car rental company Hertz is suing former executives to recoup losses related to its 2015 restatement to correct aggressive accounting.