Appointment Blogs | Compliance Week – Page 239
-
Blog
Top Banking Risks Tallied by OCC
Strategic, underwriting, cyber-security, compliance, and interest rate risks sit atop the Office of the Comptroller of the Currency’s list of supervisory concerns in its Semi-annual Risk Perspective. Banks continue to face strategic challenges to growing revenues to meet target rates of return in a slow-growth, low interest rate environment, the ...
-
Blog
Poll: Lack of Quality Data Poses Due Diligence Challenges
Regulators are increasingly demanding greater evidence of well-developed anti-money laundering compliance programs, processes, and systems and controls, and yet global companies are struggling to keep pace with it all. According to a new webinar poll conducted by Arachnys and Charter, 50 percent of compliance teams said the greatest challenge posed ...
-
Blog
New Tool Allows Traders to Access Historical Book Data
Trillium, a trading technology provider, today announced the launch of its Surveyor app for iPhone, the first mobile tool to provide access to depth of book quotes for the U.S. equities markets. “By giving everyone access to this free Big Data research and analytics tool, Trillium is bringing more transparency ...
-
Blog
European Watchdog Urges Vatican to Toughen Up on Financial Crimes
The Council of Europe’s Moneyval Committee is calling on the Vatican to step up its anti-money laundering enforcement actions. Although the Vatican has finally revamped its regulations to address terrorist financing and money laundering, there’s still a lot of work needed to detect and prevent suspicious transactions, the regulator said.
-
Blog
PCAOB’s Top Inspector Shares Plans for 2016
Image: When audit inspectors begin work on 2015 financial statements, they will be looking closely at the audit of internal controls, accounting estimates, misstatement risks. Those are the key themes from the 2014 financial statement inspections, said Helen Munter, director of inspections for the PCAOB. “Audit committees might wish to ...
-
Blog
PCAOB’s Top Inspector Shares Plans for 2016
Image: When audit inspectors begin work on 2015 financial statements, they will be looking closely at the audit of internal controls, accounting estimates, misstatement risks. Those are the key themes from the 2014 financial statement inspections, said Helen Munter, director of inspections for the PCAOB. “Audit committees might wish to ...
-
Blog
U.K. Parliament Scraps ‘Burden of Proof’ for Bankers
It’s official—bankers won’t have to worry about being held accountable for misconduct on their watch. Earlier this week, the U.K. Parliament’s Treasury Committee made a last-minute change to abandon the “burden of proof” rule for bankers. In other words, while bankers will have to fulfill their statutory duty of responsibility, ...
-
Blog
FIFA and Its Banks: Twin Sons of a Different Genus?
Image: Numerous banks, such as BNP Paribas, HSBC, and Standard Chartered, are in talks with the Justice Department about what they knew in connection with the FIFA investigation. In their effort to thwart Swiss secrecy laws, U.S. investigators are trying for more unrestricted access to information in FIFA-concerned bank accounts. ...
-
Blog
Accenture Acquires Beacon Consulting Group
Accenture, a global professional services company, has acquired Beacon Consulting Group, a consulting firm for the North American asset management community. This acquisition significantly expands Accenture’s asset management consulting capabilities and enhances its ability to help global investment managers, institutional investors, and asset servicers gain an edge in increasingly competitive ...
-
Blog
PCAOB Adopts Form to Name Engagement Partner, Others in Audit
Finally achieving the path of least resistance after multiple prior attempts, the Public Company Accounting Oversight Board has approved a rule requiring audit firms to identify engagement partners and others outside the firm who contribute to public company audits.
-
Blog
Report Card on This Year, and Governance Predictions for 2016
As one year closes and another begins, so does the cycle of talk on what corporate governance issues will challenge Corporate America in 2016. Inside, columnist Richard Steinberg reviews what he thought the big issues of 2015 would be (cyber-risk, shareholder proxy access, CEO succession, etc.), and how those subjects—and ...
-
Blog
Monitoring Gifting Policies During the Holiday Season
The holiday season is always a good time to remind employees about gifts and hospitality rules. The general messages are clear: Follow the rules; use good judgment; seek help if you aren’t sure what to do; and never do something that doesn’t feel right. This week, columnist Jose Tabuena suggests ...
-
Blog
U.S. and China to Expand AML Collaboration
The U.S. Treasury Department’s Financial Crimes Enforcement Network and the China Anti-Money Laundering Monitoring and Analysis Center last week signed a Memorandum of Understanding to create a framework to facilitate expanded U.S.- China cooperation between both nations’ financial intelligence units. According to the Treasury Department, the arrangement provides a mechanism ...
-
Blog
Compliance Week Names Bill Coffin Editor-in-Chief
Image: Compliance Week has named Bill Coffin, an award-winning journalist with 22 years experience writing and editing, as its new editor-in-chief. “I am very excited to lead Compliance Week at such a pivotal time for this brand and the community it serves,” Coffin said. “I look forward to serving our ...
-
Blog
The Watergate Hearings and the VW Internal Investigation
What did the President know and when did he know it? Former Senator Fred Thompson wrote those lines, when he was a staffer on the Senate Watergate Committee. His boss, Senator Howard Baker, then uttered them during the Watergate Hearings. Since that time, these two lines have been a mainstay ...
-
Blog
The Fine and Elusive Art of Managing Change Effectively
Image: A large part of success for compliance programs at hinges on the chief compliance officer’s ability to shepherd change through the organization. But let’s be honest: managing change is not something many big businesses do well. Partly that is because companies today try to achieve too much change too ...
-
Blog
Liberty Tax Appoints Chief Compliance Officer
Liberty Tax, a tax preparation company, has appointed James Wheaton to the newly created position of chief compliance officer.
-
Blog
PCAOB Experiments With Random Inspections, Data Analysis
Image: The PCAOB has opened a project to study inspection results statistically and to consider whether the board should allocate some inspection resources to randomly selected audits. Chairman James Doty: “Could some randomization help us make better inferences about how pervasive audit deficiencies may be? Could some random selection increase ...
-
Blog
SEC Considers Derivatives Rules for Registered Funds
The SEC has proposed rules that, once finalized, will modernize and enhance existing regulations placed on the use of derivatives by registered investment companies. The proposed rules would limit the use of derivatives by mutual funds, exchange-traded funds, closed-end funds, and business development companies. It also requires them to establish ...
-
Blog
Calgon Carbon Appoints General Counsel and Secretary
Calgon Carbon has hired Chad Whalen as general counsel and secretary, effective as of Dec. 1. Whalen comes to Calgon Carbon from RTI International Metals, a global supplier of advanced titanium and specialty metals products and services, acquired by Alcoa earlier this year. There, he held the position of general ...