Appointment Blogs | Compliance Week – Page 236
-
Blog
UPS Appoints General Counsel and Corporate Secretary
UPS has named Norman Brothers as senior vice president, general counsel and corporate secretary, effective as of Jan. 1. He will join the UPS Management Committee, the company’s senior-most leadership group.
-
Blog
U.S. Sues Volkswagen Over Clean Air Act Violations
Image: The Department of Justice, on behalf of the Environmental Protection Agency, today filed a civil complaint against Volkswagen over allegations that Volkswagen violated the Clean Air Act by installing illegal defeat devices that impaired emission control systems in nearly 600,000 diesel engine vehicles. In a statement, Barbara McQuade, U.S. ...
-
Blog
CFPB Tries to Assuage Fears Over New Mortgage Disclosures
Image: Mortgage servicers, lenders, and aggregators received welcomed news from CFPB Director Richard Cordray, who wrote in a letter to the Mortgage Bankers Association that technical errors will mean non-compliance with new "Know Before You Owe" mortgage disclosure rules. Because “there inevitably will be inadvertent errors in the early days,” ...
-
Blog
Former Bain Capital Compliance Officer Joins ACA Compliance Group
ACA Compliance Group, a compliance, cyber-security, risk, performance, and technology solutions provider to financial services firms, has named Alan Halfenger as partner. Halfenger has over 20 years of global compliance experience, most recently as global chief compliance officer at Bain Capital in Boston.
-
Blog
LifeLock to Pay $100 Million in FTC Case
LifeLock last month agreed to pay $100 million to settle Federal Trade Commission contempt charges that it violated the terms of a 2010 federal court order requiring the company to secure consumers’ personal information and prohibiting the company from deceptive advertising. The settlement represents the largest monetary award obtained by ...
-
Blog
Center on Executive Compensation Names Senior Strategic Advisor
The Center on Executive Compensation, a research and advocacy organization that seeks to provide a principles-based approach to executive compensation policy from the perspective of the senior human resource officers of leading companies, has appionted Richard Floersch as senior strategic advisor.
-
Blog
Nielsen Elects New Chairman
Nielsen Holdings, a global performance management company that provides a comprehensive understanding of what consumers watch and buy, has elected James Attwood as non-executive chairman of its board of directors, effective as of Jan. 1. Attwood succeeds David Calhoun who served as executive chairman of the board since 2014.
-
Blog
Former Rep. Michael Oxley, Co-Author of "SOX," Dies at Age 71
Image: Former U.S. Rep. Michael G. Oxley, co-author of the landmark Sarbanes–Oxley Act of 2002 (SOX), died Jan. 1, 2016, at age 71. SOX was enacted July 30, 2002, in response to a series of massive accounting scandals involving public companies such as Enron and Worldcom. In March 2012, Oxley ...
-
Blog
SEC.gov's Top 10 News Stories, Search Terms in 2015
As it similarly did at the end of 2014, the SEC announced "Top 10" lists this week for the most popular search terms and news releases on the SEC website (SEC.gov) in 2015.
-
Blog
New OFAC Sanctions Rules Target Cyber-Attacks
The Treasury Department has implemented new rules that execute an executive order issued in April by President Barack Obama authorizing sanctions against countries and foreign nationals involved in cyber-attacks against U.S. citizens, companies, or government agencies. The rules formalize a strategy used to increase sanctions against North Korea in response ...
-
Blog
Second Circuit Denies Rajat Gupta's Last Gasp Effort to Vacate Conviction
His imminent release from prison has not stopped former McKinsey & Company CEO and Goldman Sachs director Rajat Gupta from aggressively seeking to get his conviction vacated under the Second Circuit's landmark Newman decision. This week, the Second Circuit rejected Gupta's last gasp appeal in the case.
-
Blog
SEC Seeks Comment on Transfer Agent Rules
The SEC has issued an advanced notice of proposed rulemaking and a concept release for new rules governing transfer agents. The Commission intends to propose new rules for transfer agents similar to those recently adopted for registered broker-dealers regarding amended annual reporting, independent audit, and notification requirements. The intent is ...
-
Blog
SEC Issues Annual Reports on Credit Rating Agencies
The SEC has issued annual staff reports on credit rating agencies registered as nationally recognized statistical rating organizations (NRSROs). The news in the annual report, summarizing examinations of each NRSRO as required by the 2010 Dodd-Frank Act, is cautiously good. It shows that NRSROs have made operational improvements and have ...
-
Blog
CFPB Releases Latest Data From Complaint Database
The Consumer Financial Protection Bureau has concluded its most recent review of complaints filed with the agency. As of Dec. 1, 2015, the CFPB handled 770,100 complaints nationally and the report notes that, in a year-to-year comparison of data from September to November, complaints about prepaid products rose 215 percent. ...
-
Blog
The Mast Brothers Meltdown
For years, Mast Brothers, a brand of high-end, artisanal bean-to-bar chocolate, has proven to be an unlikely success story, making small batches of expensive chocolate bars from its humble operation in the heart of the hipster world—the Williamsburg neighborhood of Brooklyn, New York. But when Dallas-based food writer Scott Craig ...
-
Blog
Is That Disposal a Discontinued Operation? SEC Staff Offer Views
SEC Associate Chief Accountant Barry Kanczuker says FASB’s new standard on when a particular disposal should be characterized as a discontinued operation isn’t always clear cut. Kanczuker says companies will have to apply judgment to what constitutes a relevant financial result; look at financial results that might be relevant to ...
-
Blog
Some Costs of Corruption
Image: A recent Financial Times article says that non-U.S. corruption scandals have outpaced those which are U.S.-centric and, FT points out, the companies at the heart of these scandals fared pretty badly from their own transgressions. Inside, FCPA blogger Tom Fox examines the cases of Volkswagen, whose emissions fraud has ...
-
Blog
Succession Planning: A Priority for Bank Chiefs in 2016
Standard Chartered has scored big by hiring HSBC veteran Simon Cooper to serve as the London-based company’s corporate and institutional banking head but, according to the Financial Times, Cooper’s departure from HSBC may be a sign the exec has grown impatient waiting to take over the British bank’s reigns. Cooper, ...
-
Blog
New European Regulations Mean More Competition Between ‘Big Four’
New European regulations requiring companies to change auditors every 20 years have led to intense competition between the Big Four audit firms. Barclays, for instance has cut a 120-year relationship with PwC, and KPMG has been picked up as auditor for the British bank. The audit firm rotation continued at ...
-
Blog
Using Social Media to Defend an FCPA Criminal Charge
Image: Social media has certainly changed the way we communicate. Just look at federal securities fraudster Martin Shkreli, known for his extreme social media use, who has continued the practice (not surprisingly) post-arrest. According to the New York Times, Shkreli posts selfie videos “as if the possibility of going to ...