Appointment Blogs | Compliance Week – Page 65
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Lincoln Financial Group names general counsel
Lincoln Financial Group has named Leon Roday as executive vice president and general counsel, effective as of Dec. 14.
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Vanderbilt Financial Group names new chief compliance officer
Investment firm Vanderbilt Financial Group announced the promotion of Steve Howe to the position of chief compliance officer.
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OCIE: Mitigating the risks of electronic messaging systems
Registered investment advisers will want to pay attention to some recent observations shared by the Office of Compliance Inspections and Examinations following an examination initiative it conducted that offers some key insights for firms to consider to strengthen their supervisory, compliance, and risk-management practices related to the use of electronic ...
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SFO: Former global sales director of Alstom Power sentenced in bribery case
Nicholas Reynolds received four years and six months imprisonment and was ordered to pay costs of £50,000 (U.S. $62,930) for his part in a conspiracy to bribe officials in Lithuania’s Elektrenai power station and senior Lithuanian politicians in order to win two contracts worth €240 million (U.S. $273 million), the ...
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Eletrobras compliance failures result in $2.5M penalty in FCPA case
Brazil’s state-run power company Eletrobras has agreed to pay a $2.5 million civil penalty for violations of the Foreign Corrupt Practices Act. Inside, the SEC administrative order details Eletrobras’s compliance failures.
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SEC settles accounting charges with no monetary penalty
The SEC recently settled charges with a company over accounting and control errors tied to sales incentives, but imposed no monetary penalty.
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As government shutdown drags on, SEC offers guidance
Concerned about how the government shutdown will affect the SEC and filing obligations? The agency is offering several resources to provide some much-needed guidance.
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Goodwill impairments are on the rise, latest study says
Goodwill impairments are rising on corporate balance sheets, according to the latest analysis from advisory firm Duff & Phelps, suggesting impairment will be a source of heartburn in year-end reporting.
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Hertz to pay $16M civil penalty for accounting violations
Car rental company Hertz Global Holdings will pay a $16 million civil penalty to settle a case concerning inaccurate financial reporting, the Securities and Exchange Commission announced in an order filed Dec. 31.
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Wells Fargo to pay $575M in 50-state settlement
Wells Fargo reached a $575 million settlement to resolve civil claims with all 50 state Attorneys General and the District of Columbia that the bank violated state consumer protection laws.
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IAV to pay $35M in emissions-cheating scandal
IAV GmbH, a German company that engineers and designs automotive systems, will pay a $35 million criminal fine for its role in a long-running emissions-cheating scandal concerning Volkswagen, the Department of Justice announced.
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French court fines Total SA €500,000 in Iran bribery case
The Paris Criminal Court on Dec. 21 found French oil and gas company Total SA guilty of bribing a foreign public official and ordered the company to pay a €500,000 (U.S. $570,000) fine.
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BlogTesla adds two new independent directors
As part of a deal reached with the Securities and Exchange Commission in September, Tesla has added two new independent directors to its board: Oracle co-founder Larry Ellison and Kathleen Wilson-Thompson, global chief human resources officer of Walgreens Boots Alliance.
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AmeriTrust Group names chief risk officer
AmeriTrust Group announced the promotion of Paul Johnson to chief risk officer to oversee the company's enterprise risk management efforts.
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Will the EU improve its monitoring of money-laundering threats?
EU ambassadors on 19 December 2018 agreed to give the European Banking Authority (EBA) more power over anti-money-laundering supervision for financial institutions, but some doubt the effectiveness of these measures.
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JPMorgan to pay $135M for improper handling of ADRs
The Securities and Exchange Commission on Wednesday announced JPMorgan Chase Bank will pay more than $135 million to settle charges of improper handling of “pre-released” American Depositary Receipts.
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Plantronics announces closure of Polycom FCPA investigation
U.S. communications equipment company Plantronics announced Wednesday that Polycom entered into a settlement with the Securities and Exchange Commission for violations of the Foreign Corrupt Practices Act and will pay $36 million, which will come from an escrow secured by Plantronics as part of its acquisition of Polycom.
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SEC plans focus on internal controls at year-end
Given big changes companies are undertaking in their accounting processes, staff at the SEC plan to pay special attention to internal controls.
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SEC disciplines Crowe, two partners over audit failures
The SEC has settled charges against Crowe and two of its partners for “significant audit failures” connected to a payroll services firm that went bankrupt.
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U.K. government further tightens AML net
A reform package introduced recently by the U.K. government aims to increase transparency and tackle corruption in limited partnerships.