Appointment Blogs | Compliance Week – Page 188
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BlogWells Fargo CEO forfeits $41M; DOL launches labor law investigations
The latest developments in the ongoing Wells Fargo scandal: clawbacks, including a $41M hit for CEO John Stumpf; a Department of Labor investigation; and a new class-action lawsuit. Joe Mont has more.
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COSO issues new fraud risk management guide
COSO, author of the most widely accepted internal control framework in the United States has released a new guide meant to help companies beef up their fraud risk management. More from Tammy Whitehouse.
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All is not well at Wells
Stephen Davis and Jon Lukomnik examine the fallout from the Wells Fargo scandal, delving into what could have been done better by management and offering some tips for other companies, read: banks, to avoid the same fate.
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Internet of Things’ role in internal audit & compliance
How can internal audit support disruptive opportunities while monitoring for emerging risks coming from the Internet of Things? Columnist Jose Tabuena discusses these challenges.
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There simply are not enough cyber-security specialists
Companies need to get much more aggressive when it comes to recruiting the right talent to head their cyber-security efforts, writes John Reed Stark.
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Learning Care Group names chief compliance officer
Learning Care Group, a for-profit early education and childcare provider, has named Daniel Follis as executive vice president, general counsel, and chief compliance officer, effective immediately. He will also serve as the company’s corporate secretary, reporting to CEO Barbara Beck.
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WellCare appoints general counsel and secretary
WellCare Health Plans has appointed Anat Hakim to senior vice president, general counsel, and secretary, effective as of Sept. 26.
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Citizens Financial appoints chief compliance officer
Citizens Financial Group announced the promotion of Deputy Chief Compliance Officer and Chief Privacy Officer Scott Essex to chief compliance officer, effective Oct. 17. He will succeed Bob Nelson, who is retiring effective Oct. 31.
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Tesla creates chief accounting officer role
Tesla, an automotive and energy storage company has appointed Eric Branderiz as vice president, corporate controller, and chief accounting officer, effective Oct. 24.
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Here come the good guys
The modern compliance profession has labored in the shadows for a decade or more, but now it’s finally getting the recognition it deserves with Compliance Officers Day. More from Bill Coffin.
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Fed takes aim at banks’ commodity holdings
Joe Mont looks at a proposed rule from the Federal Reserve Board meant to strengthen existing requirements and limitations on the physical commodity activities of financial holding companies.
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Harris declinations: A landmark FCPA case?
The SEC will not take action against Harris Corp. for FCPA violations, but has brought charges against a former Harris executive for bribing Chinese government officials to obtain business. Jaclyn Jaeger explores.
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Investors left in the dark over SEC auditor independence charge
The SEC may have fined EY for auditor independence violations, but investors in at least one company likely have no idea that the company’s audits may be tainted. Tammy Whitehouse has more.
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Poll: When will Fairfax and Peirce be confirmed as SEC commissioners???
Bruce Carton asks: Does anyone remember waaaaaaaaaaaay back in October 2015 when President Obama nominated Lisa Fairfax and Hester Peirce as SEC Commissioners? Please take a CW poll on when these nominees will be confirmed.
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OCC pitches resolution plan for uninsured national banks
The Office of the Comptroller of the Currency has proposed a rule that would establish a framework to place uninsured national banks into receivership, contributing “to the broader stability of the federal banking system.” Joe Mont reports.
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Flashback to 2005: SEC’s Piwowar seeks feedback on review of old rules
The SEC has published its annual list of rules scheduled for a mandated “lookback,” a weeding out of old, outdated requirements. Commissioner Michael Piwowar, lamenting a lack of comment in the past, is urging greater participation. Read more from Joe Mont.
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Sir Andrew Witty successor named: GSK revisited
Tom Fox looks at Sir Andrew Witty’s career as chief executive of GlaxoSmithKline, as the CEO recently resigned and was replaced by Emma Walmsley.
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BlogMind the pay gap, especially if you are older and a mother
New rules from the U.K. government requiring firms with 250 or more employees to publish specific details on pay, including compensation differences between the sexes, should put a dent in the male/female wage gap. Paul Hodgson reports.
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FASB offers more narrow corrections to new revenue rule
FASB has issued another proposed update to the massive new standard on revenue recognition to address more technical corrections and upgrades on a handful of narrow issues. Tammy Whitehouse has more.
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Whistleblower awards and new scrutiny of SEC enforcement
The SEC’s successful whistleblower bounty program is raising some very interesting questions about the future of whistleblowing in general. Tom Fox reports on the agency’s recent enforcement actions.