Appointment Blogs | Compliance Week – Page 76
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SEC awards $4M to overseas whistleblower
The Securities and Exchange Commission has awarded nearly $4 million to an overseas whistleblower whose “extensive assistance” helped it bring a successful enforcement action, the agency announced on Sept. 24.
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SFO General Counsel to join Kingsley Napley
Alun Milford, general counsel for the U.K. Serious Fraud Office, will be leaving the agency to join law firm Kingsley Napley as a partner.
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Deutsche Bank latest to come under fire for lax AML controls
Deutsche Bank has become the fourth bank in the past month to get into regulatory trouble for having lax anti-money laundering controls in place, joining Danske Bank, ING, and Credit Suisse.
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SEC’s Jackson criticizes stock exchanges, promises reforms
The time has come to reform America’s stock markets. That was the message from SEC Commissioner Robert Jackson during a speech this week at George Mason University, where he laid out potential changes.
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SEC will watch for SAB 74 disclosure leading to CECL
The SEC will be looking for increasingly detailed disclosures to investors about the expected effects of moving to a new method for recognizing credit losses.
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Tax functions need high-tech tools, KPMG outlook says
Tax departments need to tool up to be ready for the kinds of tax planning that will occur in the coming 12 months, especially under tax reform, survey says.
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Argent Trust names chief compliance officer
Argent Trust Company has named Deanna Rankin chief compliance officer.
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Confidence in auditors tapers in 2018, poll says
Investor confidence in auditors and in capital markets in general fell in 2018, according to the annual poll by the Center for Audit Quality.
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Report calls out gender disparity among engagement partners
As audit firms disclose who performs public company audits, gender diversity is emerging as the first major concern regarding audit engagement leadership.
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AXA Equitable Life names chief risk officer
AXA Equitable Life, a wholly-owned indirect subsidiary of financial services company AXA Equitable Holdings has promoted Aaron Sarfatti to chief risk officer, effective Oct. 1.
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SeaWorld, CEO settle fraud charges with SEC for $5M
SeaWorld Entertainment and its former CEO have agreed to pay a total of more than $5 million to settle fraud charges for misleading investors about the impact the documentary film Blackfish had on the company’s reputation and business, the Securities and Exchange Commission announced.
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BlogState agencies may be final frontier for consumer advocates
As the Consumer Financial Protection Bureau weakens, state agencies—mini-CFPBs if you will—may step up to fill the void.
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FINMA finds deficiencies in AML processes at Credit Suisse
The Swiss Financial Market Supervisory Authority FINMA has concluded two enforcement procedures against Credit Suisse. In the first procedure, FINMA identified deficiencies in the bank’s adherence to anti-money laundering due diligence obligations. The second procedure relates to a significant business relationship for the bank with a politically exposed person.
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Treasury, IRS issue proposed GILTI rules under tax reform
Treasury and the IRS have issued proposed new regulations on how to calculate global intangible low-taxed income under the Tax Cuts and Jobs Act.
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SEC monitoring Hurricane Florence
The Securities and Exchange Commission, in a statement on Friday, said it is “closely monitoring the effects of Hurricane Florence” on investors and capital markets. It will consider extending deadlines for filings and other regulatory requirements.
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House panel advances slate of reform-minded bills
The House Financial Services Committee this week advanced 12 bills. Among them is a modification of the Sarbanes-Oxley Act so that small, privately owned non-custodial brokers and dealers are no longer required to hire PCAOB-registered audit firms to meet annual reporting obligations.
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ComplianceLine launches dedicated ‘Crisis Line’ service
ComplianceLine, an ethics and compliance solutions provider, recently launched a dedicated ‘Crisis Line’ Service to address emergency requests from clients managing organizational and reputational challenges. The Crisis Line Service provides an active response to unexpected incidents to safeguard people and clients.
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LeaseAccelerator achieves SOC 2 Type 2 compliance
LeaseAccelerator, a software-as-a-service solution for enterprise lease accounting, announced that it has successfully completed a SOC 2 Type 2 assessment performed by an independent third-party auditor.
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Ankura acquires Navigant's DFLT segment and TAS practice
Ankura, a business advisory and expert services firm, recently completed its acquisition of the Disputes, Forensics and Legal Technology (DFLT) segment and the Transaction Advisory Services (TAS) practice of Navigant.
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SEC chairman weighs in on role of guidance
Reacting, in part, to a recent statement by banking regulators regarding the role of guidance in their regulatory regimes, SEC Chairman Jay Clayton has clarified his own views on the topic.