All Blog post articles – Page 9
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Blog post
SFO: Former global sales director of Alstom Power sentenced in bribery case
Nicholas Reynolds received four years and six months imprisonment and was ordered to pay costs of £50,000 (U.S. $62,930) for his part in a conspiracy to bribe officials in Lithuania’s Elektrenai power station and senior Lithuanian politicians in order to win two contracts worth €240 million (U.S. $273 million), the ...
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Eletrobras compliance failures result in $2.5M penalty in FCPA case
Brazil’s state-run power company Eletrobras has agreed to pay a $2.5 million civil penalty for violations of the Foreign Corrupt Practices Act. Inside, the SEC administrative order details Eletrobras’s compliance failures.
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SEC settles accounting charges with no monetary penalty
The SEC recently settled charges with a company over accounting and control errors tied to sales incentives, but imposed no monetary penalty.
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As government shutdown drags on, SEC offers guidance
Concerned about how the government shutdown will affect the SEC and filing obligations? The agency is offering several resources to provide some much-needed guidance.
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Goodwill impairments are on the rise, latest study says
Goodwill impairments are rising on corporate balance sheets, according to the latest analysis from advisory firm Duff & Phelps, suggesting impairment will be a source of heartburn in year-end reporting.
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Hertz to pay $16M civil penalty for accounting violations
Car rental company Hertz Global Holdings will pay a $16 million civil penalty to settle a case concerning inaccurate financial reporting, the Securities and Exchange Commission announced in an order filed Dec. 31.
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Blog postWells Fargo to pay $575M in 50-state settlement
Wells Fargo reached a $575 million settlement to resolve civil claims with all 50 state Attorneys General and the District of Columbia that the bank violated state consumer protection laws.
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IAV to pay $35M in emissions-cheating scandal
IAV GmbH, a German company that engineers and designs automotive systems, will pay a $35 million criminal fine for its role in a long-running emissions-cheating scandal concerning Volkswagen, the Department of Justice announced.
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French court fines Total SA €500,000 in Iran bribery case
The Paris Criminal Court on Dec. 21 found French oil and gas company Total SA guilty of bribing a foreign public official and ordered the company to pay a €500,000 (U.S. $570,000) fine.
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Tesla adds two new independent directors
As part of a deal reached with the Securities and Exchange Commission in September, Tesla has added two new independent directors to its board: Oracle co-founder Larry Ellison and Kathleen Wilson-Thompson, global chief human resources officer of Walgreens Boots Alliance.
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AmeriTrust Group names chief risk officer
AmeriTrust Group announced the promotion of Paul Johnson to chief risk officer to oversee the company's enterprise risk management efforts.
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Will the EU improve its monitoring of money-laundering threats?
EU ambassadors on 19 December 2018 agreed to give the European Banking Authority (EBA) more power over anti-money-laundering supervision for financial institutions, but some doubt the effectiveness of these measures.
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JPMorgan to pay $135M for improper handling of ADRs
The Securities and Exchange Commission on Wednesday announced JPMorgan Chase Bank will pay more than $135 million to settle charges of improper handling of “pre-released” American Depositary Receipts.
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Plantronics announces closure of Polycom FCPA investigation
U.S. communications equipment company Plantronics announced Wednesday that Polycom entered into a settlement with the Securities and Exchange Commission for violations of the Foreign Corrupt Practices Act and will pay $36 million, which will come from an escrow secured by Plantronics as part of its acquisition of Polycom.
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SEC plans focus on internal controls at year-end
Given big changes companies are undertaking in their accounting processes, staff at the SEC plan to pay special attention to internal controls.
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SEC disciplines Crowe, two partners over audit failures
The SEC has settled charges against Crowe and two of its partners for “significant audit failures” connected to a payroll services firm that went bankrupt.
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U.K. government further tightens AML net
A reform package introduced recently by the U.K. government aims to increase transparency and tackle corruption in limited partnerships.
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Broadridge Financial Solutions, Workiva announce partnership
Fintech company Broadridge Financial Solutions and enterprise management software provider Workiva have announced an alliance to streamline shareholder communications.
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PCAOB finalizes new standards on estimates, specialists
Auditors have new rules to follow in auditing accounting estimates and in relying on the work of specialists to arrive at audit opinions.
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ISACA issues COBIT 2019 to help reboot IT governance
ISACA has updated its COBIT framework and issued some accompanying guidance to help companies refresh their information and technology governance.
