The Commodity Futures Trading Commission made its first award to a whistleblower on Tuesday as part of a program created by the Dodd-Frank Act. The tipster will receive approximately $240,000 for providing actionable information about violations of the Commodity Exchange Act. Specific details on the case and what information assisted it were not immediately made […]
Joe Mont
Posted inAccounting & Auditing
Facing an FCPA Probe? Prepare for Follow-On Litigation
Companies that find themselves at the center of an investigation for potential violations of the Foreign Corrupt Practices Act have more to worry about than just an enforcement action. Increasingly, they must fend off shareholder class-action lawsuits based on FCPA allegations as well. The FCPA itself does not provide for a private right of action, […]
Posted inUncategorized
Big Banks Could Be in Danger of Losing Securities Registration Exemptions
When a big bank or large financial firm breaks the law, should the institutional punishment be extended to how it can register securities offerings? That question has sparked a war of words at the Securities and Exchange Commission and the eventual answer could be a game-changer for firms that benefit from a longstanding registration exemption. […]
Posted inEthics & Culture
Identifying Top Indicators of an Effective Ethics and Compliance Program
Football has touchdowns and baseball has homeruns. If only keeping score for compliance officers was as easy. Measuring success, knowing what works and why, is no simple task for compliance departments. The hallmarks of an effective compliance program are spelled out in numerous pieces of regulatory guidance, including the U.S Justice Department’s Federal Sentencing Guidelines. […]
Posted inFrom the Archive
SEC’s Stein on CCO Liability, Broader use of Attestations
Delivering the keynote speech that kicked off Compliance Week 2014 on Monday in Washington D.C, the Securities and Exchange Commission’s Kara Stein sought to allay concerns emerging from recent enforcement actions against chief compliance officers. She also proposed that a greater use of attestations is worthwhile for the Commission to consider. Stein, a Democrat who […]
Posted inFrom the Archive
2014 Compliance Trends Survey: Despite Inroads, Resources Still Lacking
Compliance officers feel they have made many professional inroads and the alignment between their company’s behavior and professed values continues to improve. Nevertheless, according to a new survey, they remain concerned about resources, their influence on third parties, and whether or not middle management affords them the same respect they increasingly get from top executives […]
Posted inUncategorized
Court Denies Motion to Halt Current Conflict Minerals Disclosures
Companies will still need to file conflict minerals disclosures and reports by June 2. The U.S. Court of Appeals for the D.C. Circuit has denied an emergency motion by the National Association of Manufacturers, the U.S. Chamber of Commerce, and Business Roundtable to stay the conflict minerals rule. By June 2 public companies are required […]
Posted inFrom the Archive
Oil Execs Now Want SEC to Move Quicker on Rule They Battled
Two oil company executives are urging the Securities and Exchange Commission to act quickly on re-proposing a rule that, sent back to it after a successful legal challenge, would have required energy and mining companies to disclose payments made to government officials around the world. Consider it a matter of “hurry up and wait,” however, […]
Posted inUncategorized
Shop Talk: The Burden and Benefits of Conflict Minerals Disclosures
Amid a volley of legal challenges and shifting expectations, the only certainty when it comes to conflict minerals is uncertainty. ROUNDTABLE PANELISTS – 04/29/2014Click on attendees below for full biographies. David Carnevale Sr. Global Energy and Environmental Compliance Engineer, Dolby Laboratories Sue Gong Global Compliance Manager, Xilinx Howard Heppelmann […]
