Appointment Blogs | Compliance Week – Page 322
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A Turning Point in the Standoff With Proxy Advisers?
Regulators are looking to curtail abuses by proxy advisory firms with new rules that include a mechanism for companies to complain about unfair treatment. While some CEOs and boards, many which have long loathed proxy advisers, may be eager to use these new tools as weapons against them, columnists Stephen ...
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Study Says CFOs Still Control Audit Fees at Many Companies
Image: Title: MauldinNew academic research suggests the CFO, not the audit committee, still often negotiates the audit fee, despite Sarbanes-Oxley Act provisions meant to put audit committees in the driver’s seat. “At many companies it is still primarily the CFO who calls the shots,” says Elaine Mauldin, professor at the ...
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Bio-Rad Laboratories Will Pay $55M to Settle FCPA Charges
The Securities and Exchange Commission has charged Bio-Rad Laboratories, a life sciences research company, with violating the Foreign Corrupt Practices Act when its subsidiaries made improper payments to foreign officials in Russia, Vietnam, and Thailand to win business. The company, which self-reported the misconduct, agreed to pay $55 million to ...
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More Lessons From Ebola Mistakes
Image: Title: KellyA foolish consistency is the hobgoblin of little minds—and also the sign of reckless policy management. Case in point: the quarantine imposed by New Jersey Gov. Chris Christie upon Kaci Hickox, the nurse returning from Ebola work in Africa who was not sick. From poor risk assessment to ...
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LRN and Convercent Announce Partnership
LRN announced today that it will incorporate Convercent's helpline and case management modules into its suite of ethics and compliance education and advisory services.Convercent's helpline and case management software is part of an integrated governance, risk and compliance platform that centralizes anonymous helplines, web portals and in-person reports, allowing organizations ...
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Hampton Roads Names Chief Risk Officer
Hampton Roads Bankshares has named John Marshall as chief risk officer. He succeeds Robert Bloxom, who retired from the company as of Sept. 30. Details inside.
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Netwrix Auditor 6.5 Helps Detect Insider Threats
Netwrix, a provider of change and configuration auditing software, recently announced the release of Netwrix Auditor 6.5. This new offering provides comprehensive monitoring and auditing capabilities that help to streamline compliance, strengthen security, and simplify root cause analysis across the entire IT infrastructure, including file servers and shares. Details inside.
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RSD Unveils Free Information Governance Tool
RSD, a provider of information governance solutions, today announced a free version of RSD GLASS Policy Manager to help companies create new policies and better govern their confidential data and intellectual property. The free version of Policy Manager lets customers access its key features at no charge in a cloud-hosted ...
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ZL Technologies Partners With Hearsay Social
ZL Technologies, an enterprise-class information governance provider, has formed a strategic partnership with Hearsay Social that pairs the strengths of ZL’s Unified Archive with Hearsay Social’s social media platform. Details inside.
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Former SEC Chairman Roderick Hills Passes Away at Age 83
Yesterday the SEC announced that former SEC Chairman Roderick M. Hills passed away on October 29, 2014, at the age of 83. The SEC stated that Chairman Hillshad a brilliant legal career and was a man of great character. He served as Chairman of the Securities and Exchange Commission ...
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Companies Need to Consider New Mortality Data in Pension Costs
Companies that sponsor retirement plans have some new, hard-to-ignore information to consider that promises to increase the cost of their plans. The Society of Actuaries has released updated mortality tables that show pension plan participants are living longer. The SOA estimates that could produce a 4- to 8-percent increase in ...
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Conifer Health Solutions Names Chief Compliance Officer
Conifer Health Solutions, a provider of technology-enabled healthcare performance improvement services, has hired Lisa Hodges as chief compliance officer. In this role, Hodges assumes responsibility for managing Conifer’s ethics and compliance program throughout all areas of the organization. Details inside.
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Kroll Ontrack Launches Legal Hold Offering
Kroll Ontrack, a provider of e-discovery and data recovery products and services, recently announced the launch of Relativity Legal Hold, complete with Kroll Ontrack consulting to help law firms and corporations automate the legal hold process while helping ensure accurate and defensible legal hold management. Details inside.
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OECD Completes FATCA-Like Regime With More Reporting Obligations
Image: Title: PlowgianThe Organization for Economic Co-Operation and Development has finished the Common Reporting Standard to govern the exchange of tax information among more than 50 countries. While the United States is not a participant, says KPMG principal Michael Plowgian, subsidiaries or branches of U.S. entities will need to comply ...
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SEC Charges Two Friends With 'Audacious' Insider Trading Scheme
Late last week the SEC announced its latest insider trading case, which was filed against two friends and former business school classmates who allegedly used inside information to generate nearly $700,000 in illicit profits. The SEC alleged that Zachary Zwerko, a financial analyst at a major pharmaceutical company, learned about ...
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Brazil Gets Praise and a Push from OECD on Anti-Bribery Efforts
Oct. 30—Brazil is getting both a pat on the back and a push forward from the Organisation for Economic Co-operation and Development regarding its anti-bribery efforts. OECD’s Working Group on Bribery said this week that Brazil “must build on the positive momentum” started with its new Corporate Liability Law and ...
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Companies Analyzed Pay-for-Performance, Didn’t Tell Shareholders
While nearly 60 percent of public companies have conducted an executive-pay-for-performance analysis, nearly two-thirds of them didn’t tell shareholders those results, according to new research from professional services firm Towers Watson. When asked why they did not discuss their pay-for-performance analysis, most said they are waiting for new SEC disclosure ...
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Goodwill Impairment Drops to Five-Year Low
Public companies reported the lowest levels of goodwill impairment last year since the financial crisis touched off a downward spiral in corporate values beginning in 2008. According to Duff & Phelps’ annual study, public companies recorded writedowns totaling $21 billion in 2013, down nearly 60 percent from the $51 billion ...
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Study: Paying Firms Get First Look at SEC’s EDGAR Filings
Oct. 29—A new study finds that a select group of professional investors gets an advance look at soon-to-be-public filings with the Securities and Exchange Commission. Researchers found that a small group of subscribers who pay SEC-selected vendors for data feeds, among them hedge funds and high-frequency traders, receive access ...
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Proponents Say IFRS Will Benefit EU Moving Forward
Image: Title: HoogervorstOct. 29—The heads of two groups charged with overseeing the International Financial Reporting Standards have told the European Commission that using the single set of financial reporting standards has benefited the European Union and will continue to do so. IFRS Foundation Board of Trustees Chairman Michel Prada and ...