Adam Balfour’s new book explains the benefits ethics and compliance programs designed with the human experience in mind can have on workplaces, communities, and the world at large.
Kyle Brasseur
Posted inAccounting & Auditing
PCAOB: Auditors ‘falling short’ on engagement quality reviews
A new staff report issued by the Public Company Accounting Oversight Board seeks to provide best practices for auditors amid observations of rising deficiency rates related to engagement quality reviews.
Posted inFinancial Services
SEC adopts Dodd-Frank rule for short sale transparency
The Securities and Exchange Commission continued its push to get across the finish line the remaining provisions of the Dodd-Frank Act with the adoption of a new rule for institutional investment managers to provide greater transparency regarding short sale data.
Posted inEurope
EOS Matrix battles back against Croatian DPA in $5.8M GDPR case
Debt collector EOS Matrix said it will challenge a General Data Protection Regulation penalty levied against it by the Croatian data protection authority after finding the data in question in the case does not match the data in its database.
Posted inRegulatory Enforcement
TransUnion settles with CFPB, FTC over tenant screening accuracy
Credit reporting agency TransUnion agreed to pay $23 million total across settlements with the Consumer Financial Protection Bureau and Federal Trade Commission for alleged tenant screening and security freeze deficiencies.
Posted inAccounting & Auditing
FRC fines KPMG $26M for ‘damning’ Carillion audit failings
KPMG accepted the conclusions and record penalties levied against it by the U.K. Financial Reporting Council for the “exceptional” level of deficiencies found to have taken place during the Big Four audit firm’s work at collapsed construction company Carillion.
Posted inAnti-Bribery
Incentive policies suggest calm before storm at DOJ
All the carrots being offered by the Department of Justice in the past year—greater penalty reduction thresholds, relief related to compensation clawbacks, voluntary self-disclosure incentives—are part of a strategy to strengthen the enforcement stick when companies don’t cooperate.
Posted inEurope
FCA censures London Capital & Finance over misleading promos
Insolvent credit broker London Capital & Finance dodged a “substantial financial penalty” from the U.K. Financial Conduct Authority regarding promotions it used to market minibonds to investors.
Posted inRisk Management
Compliance cost concerns raised as California enacts climate disclosure laws
The governor of California signed off on a pair of bills containing requirements for large businesses operating in the state to make disclosures regarding their climate-related risks and impacts, though not without mentioning work to be done on the compliance ramifications associated with each law.
Posted inRegulatory Policy
SEC adopts shorter reporting deadlines for beneficial ownership
The Securities and Exchange Commission finalized its rule proposal to cut in half the timeline allowed for market participants to file initial beneficial ownership information with the agency.