Appointment Blogs | Compliance Week – Page 323
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U.K. Fraud Office’s GC Offers Advice to Corporates for DPAs
Image: Title: GreenOct. 29—The general counsel for the U.K.’s Serious Fraud Office has provided some advice for companies interested in taking advantage of newly approved deferred-prosecution agreements if faced with an investigation from the SFO. Alun Milford, the SFO’s general counsel, said in a speech that the key factors for ...
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For One Day, At Least, Australia a 'Paradise for White Collar Criminals'
In remarks at a business journalism awards lunch last week in Australia, Greg Medcraft, the Chairman of the Australian Securities & Investments Commission, made some startlingly candid remarks about the state of Australia's ability to prosecute and penalize white collar crime. Medcraft noted that ASIC had conducted a review of ...
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Applied Technologies Elects New Chair
The board of directors of Applied Industrial Technologies has elected Peter Wallace as its independent chairman. He succeeds John Meier, who has served as chairman since 2011 and who will continue to serve as a member of the board. Details inside.
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Keeping Reporting Overseers on the Same Page
The Securities and Exchange Commission, the Financial Accounting Standards Board, and the Public Company Accounting Oversight Board have several formal and informal channels to compare notes and exchange ideas. Still, some wonder if a forum to discuss the reporting system as a whole and the long-term health of that system ...
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Boards Show More Interest in Cyber-Security Threats
Boards are watching cyber-security risks more closely, with nearly 60 percent of board members in a recent BDO USA survey saying they are more involved in the discussion now than they were just last year. Still, many boards aren’t getting the information they want; just one-fourth say they get a ...
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FCPA Takeaways in Layne Christensen
Image: Layne Christensen Co. joined the FCPA enforcement hall of shame this week; it was fined $5.1 million for various bribery infractions in Africa in the 2000s. Its aggressive investigation efforts won praise from regulators, but the root of the company’s problem—weak internal control over financial reporting—is still the far ...
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Getting In-Depth on Compliance
Image: In its full glory, corporate compliance is a complex subject. Compliance Week does its best to provide subscribers with timely, concise looks at news in this field to help you understand how you can build and manage a better compliance program, but let’s be honest—sometimes you need an even ...
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Podcast: The Trends Revealed by Company Codes of Conduct
Earlier this month, the University of Houston released a searchable database of the compliance codes for Fortune 500 companies. In our latest podcast we talk to Ryan McConnell, who teaches international corporate compliance at the school, about what the database tells us about how companies approach such topics as social ...
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Aircastle Names General Counsel
Aircastle Limited, which acquires, leases, and sells commercial jet aircraft, has appointed Christopher Beers as general counsel. Details inside.
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Intralinks VIA 2.0 Enhances Usability and Security Capabilities
Intralinks, a global software-as-a-service provider of enterprise content collaboration solutions, has released its next-generation secure file sharing and collaboration solution, Intralinks VIA 2.0. Built on the Intralinks Collaboration Platform, Intralinks VIA 2.0 provides a new user interface and document security capabilities that enable enterprises to gain all the productivity benefits ...
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Western Union Gets Its Fourth Compliance Monitor
For the fourth time in as many years, Western Union has received a new independent compliance monitor as part of an anti-money laundering settlement agreement reached with the state of Arizona in 2010. Earlier this month, the Superior Court of Arizona approved the replacement of Western Union’s former court-appointed compliance ...
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SEC Updates Financial Reporting Manual
The SEC has updated its Financial Reporting Manual, a guidebook intended to help SEC staff review compliance with reporting and disclosure rules. The update addresses transactions that cause a foreign private issuer to cease being a shell company, “backdoor” listings by foreign companies, the treatment of predecessor financial statements, and ...
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McGladrey Sees Improvement in 2013 Inspection Report
Oct. 24—While KPMG was dinged by the PCAOB, McGladrey saw some improvement. The PCAOB studied 13 audits at McGladrey and found fault with four of them during its 2013 inspections of the firm. That deficiency rate of 31 percent is a step up from failure rates of 44 percent in ...
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Pandora Appoints General Counsel
Internet radio service provider Pandora has named Steve Bené as general counsel. Bené, who will serve on the company’s executive leadership team, will oversee all of Pandora’s legal operations and matters, including those related to corporate governance, securities, commercial transactions, litigation and intellectual property. Details inside.
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Heartland New Zealand Chief Risk Officer Resigns
Financial services firm Heartland New Zealand announced this week that its chief risk officer, Mark Mountcastle, has resigned after four years in the role. He will remain with Heartland until Nov. 30, 2014. Details inside.
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BNY Mellon Names New Chief Risk Officer
BNY Mellon, an investment management and investment services company, has appointed James Wiener as chief risk officer, effective Nov. 24, 2014. Wiener will lead the company's global risk and compliance group, overseeing the compliance and credit, operational and market risk functions. He will succeed Brian Rogan, who is retiring ...
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KPMG Draws Ire in 2013 Report; New Carping Over Old Quality Issues
The Public Company Accounting Oversight Board says KPMG failed to arrive at an adequately supported audit opinion in 46 percent of the audits the agency inspected in 2013, and it failed to satisfy quality control issues raised in earlier inspections. The PCAOB flagged 23 of the 50 audits that inspectors ...
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Few Countries Make Good on OECD Anti-Bribery Pledge
Oct. 23—Despite a 15-year-old promise to do so, many of the world’s leading economies are failing to do enough to prevent corruption and bribery. The Organization for Economic Co-operation and Development’s Anti-Bribery Convention, adopted in 1997, was a pledge by 41 countries to make foreign bribery a crime. Years later, ...
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Lawyerless Allen Stanford Files 299-Page Brief Appealing His Conviction
"Life comes at you fast," doesn't it Allen Stanford? (Just ask MC Hammer).One day you are have a net worth of $2.2 billion, an office with its own five-star dining room, movie theater, professional kitchen and wine bar, and island nations such as Antigua are granting you knighthood. The next ...
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SEC Plans Early 2015 Concept Release on Audit Committee Upgrades
Image: Title: WhiteThe SEC expects to issue a concept release in early 2015 exploring possible avenues for elevating the work of public company audit committees, according to SEC Chair Mary Jo White. In recent remarks, White said the staff will address issues around the relationship between the audit committee and ...