Appointment Blogs | Compliance Week – Page 299
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ADP SmartCompliance Helps Simplify Human Capital Management Compliance
ADP, a provider of human capital management solutions, today revealed new enhancements to ADP SmartCompliance, a cloud-based platform of outsourced services that helps employers better manage HCM-related compliance requirements. ADP revealed these new enhancements the same day that it released a new study, in collaboration with CFO Research, which found ...
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$500,000 SEC Whistleblower Award to Corporate Officer
The SEC announced today that it issued a sizable whistleblower award to a former corporate officer. The SEC stated that while corporate officers and directors are typically not eligible under the Dodd-Frank whistleblower statute to receive awards, the statute carves out an exception if an officer reports information concerning misconduct ...
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Survey: Disparate IT Systems Increase Compliance Costs
Many companies still rely on disparate systems and manual processes to manage their human capital management-related compliance, which in turn is putting a drain on company resources, according to a new survey released today by CFO Research and ADP, an HCM solutions provider. Details on the survey results inside.
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What You Tell the Audit Committee About Auditors
Image: You might have forgotten, but once upon a time a company’s audit committee was primarily responsible for—get this—the annual audit. Compliance Week recently surveyed compliance and audit executives to ask: What information do you bring to the audit committee when reviewing the performance of your audit firm? Inside, Editor ...
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Human Trafficking Rules Now in Effect for Government Contractors
On March 2, new reporting requirements related to human trafficking went into effect for nearly 300,000 government contractors. Those performing work exceeding $500,000 outside the United States must develop and maintain a trafficking compliance plan and certify that, to the best of their knowledge, neither they nor any sub-contractors engage ...
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New Perspective Senior Living Names Chief Compliance Officer
New Perspective Senior Living, which operates and develops senior living communities throughout the Midwest, has appointed Lore Brownson as chief compliance officer. In this role, she will be responsible for ongoing development and oversight of the company’s corporate compliance program. Details inside.
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Incentive and Technossus Join Forces
Incentive, an enterprise collaboration platform provider, has formed a strategic partnership with Technossus, a technology consulting and software solutions provider. This partnership enables small to mid-sized businesses to easily identify and integrate software and consulting services that enhance business operations, internal collaboration, and information sharing. Details inside.
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BMC and Qualys Join Forces to Improve Enterprise Security
Software solutions provider BMC and Qualys, a provider of cloud security and compliance solutions, last week announced the launch of a new solution to tie vulnerability information to automated remediation actions, dramatically reducing the window of vulnerability while simultaneously improving IT operational performance. Details inside.
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Citigroup Probe Over AML Violations Widens
Citigroup is under investigation by the Financial Crimes Enforcement Network and the California Department of Business Oversight for potential Bank Secrecy Act and anti-money laundering violations at its Banamex USA unit. The disclosure comes one year after Citigroup received a subpoena from the U.S. attorney of Massachusetts for similar issues. ...
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Level Global Co-Founder Files Lawsuit Against Prosecutors, FBI Agents
Remember back in November 2010 when the FBI launched a series of raids on hedge funds including Level Global Investors LP and Diamondback Capital Management LLC? These raids ultimately led to the convictions of Level Global co-founder Anthony Chiasson and Diamondback Capital’s Todd Newman on criminal insider trading charges. Shortly ...
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SEC Pushes Approval of Tick Size Experiment to May
Anxious for the SEC to begin its 12-month experiment in altering tick-size requirements? Prepare to wait a bit longer. The Commission has extended its deadline for approving a proposal, to allow some stocks to trade in five-cent increments, from March 7 to May 6. Meanwhile, there is pressure on the ...
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BofA Accounting Chief; Two Directors Step Down
Bank of America said this week in a securities filing that its chief accounting officer will be stepping down. The bank also said that two of its board members would not stand for re-election at its 2015 annual meeting of stockholders. Details inside.
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FASB Proposes Targeted New Derivative Disclosures
FASB has issued a proposed update to accounting standards, with new disclosure requirements for financial instruments that contain separately presented embedded derivatives. Companies would be required to disclose the carrying amount, measurement attribute, and line item in both the balance sheet and income statement under certain circumstances.
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General Cable Sets Aside $24 Million for Angola Bribes
General Cable said this week in a regulatory filing that it has set aside an estimated charge of $24 million that it believes the Securities and Exchange Commission likely will disgorge from profits derived from sales tainted by improper payments made in Angola. In September, the maker of copper, aluminum, ...
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New York AG Proposes Whistleblower Reward Program
Image: New York Attorney General Eric Schneiderman will soon propose legislation to protect and reward employees who report fraud in the banking, insurance, and financial services industries. The bill will also provide whistleblowers protection from retaliation. “This law will be the strongest, most comprehensive in the nation and is long ...
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Dealing With Corruption in Public Procurement
The European Commission estimates that roughly €120 billion is lost annually to public procurement corruption. While the competition for government contracts continues to intensify, there are more opportunities for companies and potential clients to engage in unethical business practices, which can result in serious penalties and reputational damage. Here are ...
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Survey: Audit Execs’ Cyber-Fears Run Deep
Image: Nearly 7 in 10 internal audit leaders participating in the IIA’s annual “Pulse of Internal Audit” survey ranked cyber-attacks and other security issues as a major concern, but only about one-third said they have high confidence in their organizations’ ability to address such risks. IIA President Richard Chambers says ...
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Compliance, Regulator Pressures Pile Up at HSBC
Recent scandals at banking giant HSBC have caused regulators to shift their attention to senior executives. According to news reports, Group Chairman Douglas Flint and Chief Executive Stuart Gulliver have come under scrutiny after journalists obtained “secret documents” stating that HSBC’s Swiss private banking arm failed to conduct sufficient due ...
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Batista Insider Trading Case in 'Turmoil' After Judge Seen Driving Seized Porsche
I've been following the interesting insider trading prosecution trial of former Brazilian billionaire Eike Batista that has been unfolding in Rio de Janeiro. Three years ago, Batista was worth $30 billion and was declared "the pride of Brazil" by Brazil's President. After the October 2013 collapse of his oil company, ...
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U.S. Steel Names Controller
United States Steel has promoted Colleen Darragh to the position of vice president and controller, effective immediately. Darragh has served as acting controller since July. Details inside.