Appointment Blogs | Compliance Week – Page 291
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Flex Pharma Names New Board Member
Flex Pharma, a biotechnology company, has appointed Jeffrey Capello to its board of directors. He also will serve as chair of the audit committee. Details inside.
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OTC Link ATS Names Chief Compliance Officer
OTC Link ATS, wholly-owned subsidiary of OTC Markets Group, operator of open, transparent and connected financial marketplaces for 10,000 U.S. and global marketplaces, has appointed Michael Corrao as chief compliance officer. Details inside.
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Chiquita Brands Chief Accounting Officer Resigns
Joseph Johnson, chief accounting officer of Chiquita Brands International, has resigned, the produce company said this week said in a filing with the Securities and Exchange Commission. Johnson's departure follows that of several other executives, as Chiquita Brands comes under new ownership. Details inside.
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3M Chief Compliance Officer to Join CHS as General Counsel
CHS, a farmer-owned cooperative and a global energy, grains and foods business, has named James Zappa as general counsel, effective April 13. Zappa currently is associate general counsel and chief compliance officer for the 3M Compliance and Business Conduct Department.
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James Koukios Joins Morrison & Foerster
James Koukios, former senior deputy chief in the Fraud Section of the Justice Department's Criminal Division, has joined law firm Morrison & Foerster as a partner in the securities litigation, enforcement and white-collar criminal defense practice group. Details inside.
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SEC Issues Wells Notice to Magnum Hunter
Magnum Hunter Resources has received a Wells Notice for potential material weaknesses in the company’s internal control over financial reporting. The oil and gas producer said it intends to respond in the form of a Wells submission, setting forth why it believes an enforcement action against it is not warranted. ...
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Second Circuit Denies DOJ Petition for Rehearing in Newman Case
Today, in a ruling that may have significant consequences, the Second Circuit rejected the DOJ's petition for a rehearing in the landmark U.S. v. Newman insider trading case. The DOJ filed a "Petition for Panel Rehearing and Rehearing En Banc" in the Newman case on January 23, which was supported ...
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HSBC Disciplines U.S. Executive Over Compliance Attitude
HSBC has decided to reassign the Americas head of its global banking division because of the manager’s poor attitude about the bank’s compliance and audit program, according to an update from its compliance monitor. The report cited that move as one example of HSBC’s improvement on compliance, while still warning ...
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NopSec: New Feature Prioritizes and Remediates High-Risk Threats
NopSec, a provider of vulnerability remediation solutions powered by advanced machine learning technology, has released version 3.4.7 of its Unified VRM platform. The platform empowers organizations to quickly find the vulnerabilities that present the most risk, focus on top threats, and fix potential exploitations through an integrated remediation workflow.
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Sovos Compliance and ShipCompliant Combine
Sovos Compliance, a tax compliance and reporting provider, has acquired Boulder-based ShipCompliant, a compliance and tax solution provider for the beverage alcohol market.
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Celgene Names General Counsel, Corporate Secretary
Pharmaceutical company Celgene has appointed Gerald Masoudi as general counsel and corporate secretary, effective June 1. He will succeed Lawrence Stein, who is retiring after serving as general counsel and corporate secretary since 2012
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Workiva Adds New Feature to Wdesk for Sarbanes-Oxley Compliance
Workiva, creator of the Wdesk cloud-based productivity platform for business data collaboration and reporting, this week introduced a new feature called Evidence Management for Wdesk that significantly improves how companies document and test their internal controls over financial reporting required by the Sarbanes-Oxley Act. Details inside.
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Seaboard Names Chief Accounting Officer
Seaboard, a global, food, and engery transportation company, has appointed Michael Trollinger as corporate controller and chief accounting officer effective as of March 31, the company announced this week in a Form 8-K filing. Details inside.
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PCAOB Routs Nevada Firm Where Beckstead Landed
The PCAOB has thrown the book at a small Nevada audit firm for a long list of audit violations, including a suspension for Brad Beckstead, former partner with Beckstead and Watts. Beckstead challenged audit inspections and the existence of the PCAOB before the U.S. Supreme Court, which has created uncertainty ...
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Council of Institutional Investors Elects New Board, Names New Chair
The Council of Institutional Investors this week elected a new board of directors and named Michael McCauley, senior officer of investment programs and governance at the Florida State Board of Administration, as chair of the board. Details inside.
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Accounting-Related Class-Action Lawsuits Jump in 2014
Image: A Cornerstone Research report says securities class-action filings involving allegations of accounting improprieties jumped sharply from 47 in 2013 to 69 in 2014. Senior adviser Laura Simmons said Cornerstone expected the SEC’s increased focus on financial reporting issues might lead to an increase in class actions with these issues. ...
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Pension Funds Ask SEC for Board Diversity Rule
A coalition of state treasurers and pension funds has petitioned the SEC for new disclosure requirements on board diversity. They want a new rule that adds gender, racial, and ethnic diversity data to current disclosures dictated by Regulation S-K, which only requires companies to identify the minimum skills, experiences, and ...
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EU Antitrust Regulators Focus on e-Commerce
Image: The European Union is looking into the possible breach of antitrust laws in e-commerce practices. The inquiry may lead to enforcement actions against companies that restrict online sales and “abuse” their dominant position in the market. Margrethe Vestager, the EU’s antitrust chief, said that although the investigation will produce ...
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FASB Votes for One-Year Deferral on Revenue Recognition
Image: FASB will propose a one-year delay in the effective date of its new revenue recognition standard, while allowing adoption of the original effective date for companies ready to move forward. FASB member Daryl Buck, though initially skeptical of a delay, said, “It would be very difficult to expect [media ...
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Bank of England and ECB Reach Deal on Financial Stability
The Bank of England and the European Central Bank have ended a four-year saga over the City of London’s clearinghouses, which required that these offices be near the Eurozone so they can be easily monitored in the event of an emergency. Under the agreement the BoE will provide the ECB ...