Appointment Blogs | Compliance Week – Page 197
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People, please stop making these two insider-trading mistakes!
Bruce Carton has been warning us for years about two insider-trading mistakes. Last month, a former partner at law firm Fox Rothschild was sentenced to six months in prison for allegedly making both of them. See inside.
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Law firm involvement in the 1MDB Scandal
What does the use of the Shearman & Sterling trust account by 1MDB mean for the law firm?
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BlogFASB proposal would target income tax disclosures
FASB proposed a change to the disclosure requirements under Topic 740 in the Accounting Standards Codification that would require public companies to add nearly a dozen new items to their existing income tax disclosures, including income or losses from continuing operations along with income tax expense or benefit, separated by ...
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Accounting leaders advocate looking at non-GAAP accounting measures
As the Securities and Exchange Commission continues its focus on use of non-GAAP accounting measures, accounting experts are advising companies to take a look at their internal controls and assure they are appropriate. Tammy Whitehouse reports.
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State Street to pay $382 million for foreign currency exchange fraud
State Street Bank and Trust Company has agreed to pay a total of $382.4 million to the United States to resolve allegations that it deceived some of its custody clients when providing them with indirect foreign currency exchange (FX) services. Jaclyn Jaeger reports.
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FinCEN expands crackdown on real estate shell companies
The Financial Crimes Enforcement Network will add San Francisco, San Diego, and San Antonio to a geography-based initiative demanding that title insurance companies identify who is behind shell companies used to pay all cash for high-end residential real estate. The initiative is already underway in Manhattan and Miami-Dade County. Joe ...
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Business associate to pay $650K for HIPAA violation
The Department of Health and Human Services reached its first-ever enforcement action with a “business associate” of a HIPAA-covered entity. Compliance officers in the healthcare industry looking to minimize risk of future HIPAA violations will want to take a look at the resulting corrective action plan for lessons learned. Jaclyn ...
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EU watchdogs temporarily green-light Privacy Shield
European Union data protection authorities indicated in a recent statement that they will hold off for at least one year any new challenges to the EU-U.S. Privacy Shield. But legal challenges from others concerning its provisions could be on the horizon. Jaclyn Jaeger reports.
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BlogPanama Papers: Mossack Fonseca linked to offshore deals in Africa
A new round of investigations on the Panama Papers conducted by the International Consortium of Investigative Journalists (ICIJ) this week revealed that Panama-headquartered law firm Mossack Fonseca established offshore companies to own, hold, or do business with petroleum, natural gas, and mining operations in 44 of Africa’s 54 countries—many of ...
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Symantec launches Control Compliance Suite
Symantec has announced the next version of Symantec Control Compliance Suite, an enterprise-class IT governance, risk and compliance solution. Symantec Control Compliance Suite delivers new features to give IT and security operations teams the ability to implement agile business processes while remaining in compliance with regulations.
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Actiance Socialite solves compliance challenges for companies using Instagram
Actiance, a communications compliance, archiving, and analytics provider, recenly announced enhanced Actiance Socialite support for Instagram, ensuring that companies using Instagram as an enterprise communication tool meet compliance mandates.
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K2 Intelligence names head of U.S. business investigations practice
K2 Intelligence, an investigative, compliance and cyber-defense services firm, has appointed Snežana Gebauer as executive managing director and head of the U.S. business investigations and intelligence practice.
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Auditing your data breach incident response plan
The time to discover when your data breach incident response plan actually works is not in the middle of data breach. Jose Tabuena offers some insights on how to make sure that the incident response plan in place is actually up to the task.
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EU tackles tax abuse in the wake of Panama Papers
The Panama Papers document leak shed much light on a deep and pervasive effort to evade taxes. Since then, the European Union has passed a number of new rules to improve tax transparency and close tax loopholes. According to CW’s Paul Hodgson, the EU is only just getting started.
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LATAM Airlines resolves FCPA case for $22 million
LAN Airlines (now known as LATAM Airlines Group), a commercial airline company based in South America, has agreed to pay more than $22 million to settle parallel civil and criminal cases related to improper payments it authorized during a dispute between the airline and its union employees in Argentina. Jaclyn ...
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Front-loading at HSBC
The woes at HSBC continue as executives in its forex unit face charges of trading manipulation. Tom Fox has more.
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Even CAEs see need for change, latest poll shows
It’s not just regulators or professional associations calling the internal audit profession to transformation. Even chief audit executives in the trenches recognize the internal audit function needs to evolve to remain relevant, according to a recent Deloitte study that surveyed 1,200 CAEs worldwide to get a pulse on the state ...
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OMI Chief Vincente L. Martinez departing SEC next month
Vincente L. Martinez, Chief of the SEC’s Office of Market Intelligence since 2013, is leaving the agency next month. OMI plays a critical role in the SEC's Enforcement Division's collection, evaluation, and dissemination of the tips and referrals that come into the agency.
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Grapevine: Who’s coming and going in compliance
Just five months after reaching a $795 million settlement with U.S. and Dutch prosecutors for paying bribes to a government official in Uzbekistan, Amsterdam-based VimpelCom has appointed a group chief compliance officer, as well as a “chief values and culture transformation officer,” a newly created role; and Dean Foods and ...
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The Wolf of Wall Street comes to asset forfeiture
Plot twist! The Wolf of Wall Street, a movie about corruption on Wall Street, might have been funded by corrupt money. Suddenly, this is starting to sound more like Inception.