Appointment Blogs | Compliance Week – Page 71
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Exostar names new member to Board of Directors
Exostar has named Lockheed vice president Philip E. Goslin as a new member to its Board of Directors.
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SEC pushed to stress ‘fiduciary duty’ in forthcoming rules
Members of the SEC’s Investor Advisory Committee are recommending that forthcoming rules for investment advisers be made more explicit and in line with past visions of a “fiduciary duty.”
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Banking groups petition for clarity on regulatory guidance
Two influential groups representing the interests of banks are petitioning the Consumer Financial Protection Bureau for formal rulemaking regarding the use of supervisory guidance.
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Tesla names new chairman of the board
Tesla has named a new chairman of the board, Robyn Denholm, to replace founder and CEO Elon Musk. She takes on the post after serving as CFO for Telstra, Australia’s largest telecommunications company.
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Citibank to pay $38.7M for improper handling of ADRs
Citibank has agreed to pay $38.7 million to settle charges of improper handling of “pre-released” American Depositary Receipts, the Securities and Exchange Commission announced on Nov. 7.
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Penn State names chief ethics and compliance officer
Penn State has named Kenya Mann Faulkner chief ethics and compliance officer. She will begin her new role on Dec. 3.
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Even with new technology, auditors face same demands
Whatever changes technology might bring to financial reporting, auditors still face the same auditing standards and expectations from regulators.
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FCA seeks to mitigate Brexit-related risk
The U.K. Financial Conduct Authority is on a mission to thwart as many “cliff-edge” risks as possible during the Brexit transition.
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The Red Flag Group acquires ETHIC Intelligence
The Red Flag Group reinforced its commitment to compliance standards with the acquisition of anti-corruption certification agency ETHIC Intelligence.
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GAN Connect provides holistic view of compliance
GAN Integrity, a fully integrated compliance solution provider for global business, announced the latest version of its platform, GAN Connect. The updated offering brings together all critical compliance systems and data into a single, integrated platform, rather than focusing on just one area of a compliance program.
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EverCompliant solution addresses KYC gaps
EverCompliant, a business cyber-intelligence provider, recently announced the launch of eKYC Discovery, a tool that addresses potential gaps in the Bank Secrecy Act and Anti-Money Laundering-mandated Know Your Customer processes that could leave financial institutions exposed to criminal activity.
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Workiva, KPMG alliance transforms risk management, regulatory reporting
Workiva, a data collaboration, reporting and compliance solutions provider, and U.S. audit, tax, and advisory firm KPMG recently announced an alliance to provide a strategic offering designed to help organizations transform and integrate their risk management, regulatory, and financial reporting and compliance processes by using the Workiva Wdesk platform.
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SEC wants updated reporting for life insurance contracts
Firms offering variable annuities and variable life insurance contracts could soon face new disclosure requirements. Changes proposed by the SEC would permit the use of a summary prospectus to provide disclosures to investors.
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New SEC rules demand improved mining company disclosures
The SEC has adopted amendments to improve and modernize disclosures by mining companies. The changes are intended to provide investors with “a more comprehensive understanding of a registrant’s mining properties.”
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SEC rule adds new customer disclosures for brokers
The SEC has advanced new rules and amendments that that will require broker-dealers to disclose to investors “new and enhanced information about the way they handle investors’ orders.”
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Walmart reaches proposed class-action settlement for $160M
Walmart has reached a proposed $160 million settlement with the City of Pontiac General Employees’ Retirement System in a securities fraud class-action lawsuit concerning a long-running investigation into violations of the Foreign Corrupt Practices Act.
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Third ex-KPMG partner pleads guilty in inspection leak
A third ex-KPMG partner has consented to a guilty plea in connection with charges of fraud and conspiracy in regulatory inspections.
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PCAOB censures Deloitte Mexico partners in cross-border audits
The PCAOB has disciplined three partners at Deloitte Mexico, citing failures in cross-border audits that affected U.S. opinions.
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Data privacy bill threatens corporate fines, jail for executives
Sen. Ron Wyden (D-Ore.) has announced proposed legislation that would “impose harsh fines and prison terms for executives at corporations that misuse Americans’ data.”
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SEC expands probe at GE after $22B impairment charge
The SEC has expanded its investigation into accounting issues at GE and is now looking into a $22 billion impairment charge, the company reported.