Appointment Blogs | Compliance Week – Page 289
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House Vote Demands More Transparency from CFPB
The House of Representatives, with a 401-2 vote, has approved legislation that requires the Consumer Financial Protection Bureau to comply with Federal Advisory Committee Act transparency requirements. The Federal Reserve, CIA, and CFPB are among the agencies not covered by the law. More inside.
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Gladstone Appoints Chief Accounting Officer
Gladstone Investment, a publicly traded business development company, has appointed Julia Ryan as chief accounting officer. Prior to joining the company, Ryan served as a senior manager of assurance services at KPMG. Details inside.
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Landauer Names Chief Accounting Officer; Corporate Controller
Landauer, a global provider of technical and analytical monitoring to determine occupational and environmental radiation exposure, has promoted Kara Venegas to the role of corporate controller and chief accounting officer. Details inside.
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EY Settles Lehman Allegations for $10 Million
Image: New York Attorney General Eric Schneiderman has announced a $10 million settlement with EY over its role in auditing Lehman Brothers financial statements, which hid tens of billions in leverage before collapsing in 2008. Schneiderman says the $10 million will be distributed as restitution to Lehman Brothers investors. More ...
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FERF Updates Latest Fraud Defense Tactics
The Financial Executives Research Foundation has put some fresh research and analysis to the fraud conundrum, offering companies some new insights on how to address an old problem. FERF says fraud risk is growing rather than declining for companies, despite plenty of regulatory and legislative efforts to the contrary. More ...
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Warren on the Warpath: Slams SEC, Pitches Financial Reforms
Image: Slamming the SEC and Justice Department for a “slap on the wrist” approach to enforcement, Sen. Elizabeth Warren, in a recent speech, also championed a slate of financial reforms, including a transaction tax to restrain high-frequency trading, restoring the former Glass-Steagall Act, and reducing the size and risk of ...
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SEC's Lawsuit Against Freddie Mac Execs Fizzles Out in Unusual Settlement
On Dec. 16, 2011, the SEC charged three former top executives of the Federal Home Loan Mortgage Corporation (Freddie Mac) with securities fraud. The SEC alleged that the executives "knew and approved of misleading statements claiming the companies had minimal holdings of higher-risk mortgage loans, including subprime loans." Yesterday, however, ...
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Walmart Prevails in Bid to Drop Shareholder Proposal on Gun Sales
Walmart will no longer be required to include a controversial shareholder proposal regarding its sale of firearms in its 2015 proxy statement, now that the U.S. Court of Appeals for the Third Circuit has overturned an earlier opinion on the matter. Trinity Wall Street, associated with New York City’s Trinity ...
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Justice Official: Criminal Law Enforcement a Collaborative Effort
Image: Criminal, civil, and regulatory authorities increasingly are collaborating with one another to enforce certain federal criminal laws. “Working closely with regulatory partners at the Securities and Exchange Commission, the Commodity Futures Trading Commission … and other domestic and foreign agencies, the unit has tackled some of the largest frauds ...
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U.K. Regulator Slaps Major Banks With Hefty Fines
The Financial Conduct Authority has fined Bank of New York Mellon £126 million for the lack of compliance monitoring during the financial crisis. In a separate case this week, the regulator also imposed a record fine on Clydesdale Bank for “serious failings in payment protection insurance complaint handling,” the FCA ...
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Google Faces Antitrust Charges in Europe
Image: The European Commission is expected to file a formal case against Google for abusing its dominance in the digital marketplace. Google now faces the possibility of being hit with $6 billion in fines, according to reports. Earlier this month, Competition Commissioner Margrethe Vestager made a pledge to “remove remaining ...
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ECB Says Financial Sector Regaining its Momentum
Eurozone banks are expecting to provide more loans to companies in the coming months—a move that puts the banking sector back in the spotlight amid a downturn in recent years. The European Central Bank (ECB) said in its quarterly Bank Lending Survey that “there have been substantial improvements in the ...
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CommonBond Names Chief Risk Officer
CommonBond, a student loan lending platform, has appointed Vinayak Gurjar as chief risk officer. In this role, Gurjar will be responsible for overseeing CommonBond's risk management strategy and underwriting guidelines. Details inside.
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Still Reading Tea Leaves on FCPA Enforcement? Try Listening and Reading
Sometimes all the angst and analysis about FCPA enforcement need not happen; sometimes, voices in the enforcement community just tell us what’s coming. That has been the case lately, Compliance Week columnist Tom Fox writes this week, as the SEC’s recent settlement with KBR over confidentiality agreements proves. Inside, he ...
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ISS: CEO Pay Jumps 13 Percent Among Early Filers
The average compensation package for CEOs in the United States rose nearly 13 percent in 2014, driven by increasingly valuable pension plans, according to new research from Institutional Shareholder Services that analyzed early filers in the Russell 3000 index. Among firms that use equity compensation, the median grant date value ...
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Klass Capital Acquires Resolver
Klass Capital this week announced the acquisition of Resolver, a risk-based corporate performance, compliance, and assurance software provider. The transaction includes Resolver’s GRC product line and their company operations. Details inside.
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Podcast: How Falling Oil Prices Affect MD&A, Accounting
In our latest podcast, we talk to Elizabeth Paul at PwC about what companies affected by falling fuel prices must consider. That includes ensuring the adequacy of Management Discussion & Analysis disclosures; explaining the extent that increased profits are due to better margins rather than higher revenue; and, for the ...
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Avigilon Promotes Chief Accounting Officer
Vancouver-based Avigilon, a global provider of end-to-end security solutions, has promoted Ric Leong to chief accounting officer and senior vice president. Details inside.
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UCP Appoints Chief Accounting Officer
UCP, a homebuilder and land development company, has appointed Timothy Baker as chief accounting officer. He will report to UCP's Chief Financial Officer William La Herran. Details inside.
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French Magistrates Probing HSBC for Tax Evasion Scheme
London-based banking giant HSBC last week said that French magistrates have launched a formal criminal investigation and imposed a bail of US$1 billion concerning allegations that HSBC's Swiss-based private banking arm helped clients evade taxes. In a statement, parent company HSBC Holdings said it “believes the French magistrates’ decision is ...