Appointment Blogs | Compliance Week – Page 91
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President signs into law Dodd-Frank relief for community banks
On Thursday, President Trump signed a bipartisan bill, the Economic Growth, Regulatory Relief, and Consumer Protection Act, easing the Dodd-Frank Act’s regulatory burden on community banks.
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SEC proposes safe harbor for broker-dealer research reports
The SEC has proposed new rules that offer safe harbor protections for research broker-dealers who provide research reports on mutual funds, ETFs, registered closed-end funds, and business development companies.
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Duke Energy reshuffles finance executive appointments
Duke Energy, one of the largest energy holding companies in the United States, made several executive appointments in its finance organization, including the appointment of a new chief accounting officer, effective June 1.
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SFO brings new charges in Unaoil investigation
The U.K. Serious Fraud Office has brought further charges in relation to the Unaoil investigation, this time against two individuals facing trial.
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RNN Group appoints general counsel and chief compliance officer
RNN Group, a provider of centralized verified asset procurement and monitoring solutions, has appointed Jay Carter as general counsel and chief compliance officer.
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Avoiding and overcoming GDPR challenges
When GDPR becomes effective on May 25, compliance practitioners will have to be ready for those areas that will be most impacted by the regulatory change.
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Court throws out Barclays’ Qatar fraud charges
Barclays Bank received some good news this week when a U.K. court threw out criminal charges relating to its decade-old fundraising deals in Qatar.
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Novartis GC resignation points to compliance themes
The resignation of Novartis GeneraI Counsel Felix Ehrat shows companies the importance of distinguishing between the legal and compliance functions and why you should always get a business justification before working with third parties.
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PCAOB explores whether to change audit inspection process
A newly seated PCAOB is taking a fresh look at its entire regulatory process, including whether it’s time to reconsider how it performs audit inspections.
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Penn State appoints interim chief ethics and compliance officer
Gary Langsdale has been appointed Penn State’s interim chief ethics and compliance officer, effective July 1. He assumes this role following the retirement of Regis Becker, director of university ethics and compliance and chief ethics and compliance officer.
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Banks reconsider business approaches as CECL draws near
A pending new requirement for how to reflect loan losses in financial statements is beginning to affect how banks do business, according to a recent poll.
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Wells Fargo charm offensive
New Wells Fargo ads in prominent business newspapers are an effort to let the world know the bank is cleaning up its act—but, without follow-through, it may not be enough.
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ZTE and the Arthur Andersen myth
Remember the myth of Arthur Andersen—that if you go to trial in a corruption case and lose, the company will be irreparably harmed? That myth may have arisen once again in the form of a U.S. president criticizing U.S. regulators for penalizing Chinese company ZTE.
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SEC names chief risk and strategy officer of the OCIE
The SEC has named James Reese as chief risk and strategy officer of the agency’s Office of Compliance Inspections and Examinations. Reese has served as acting chief since February 2017.
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European Commission acts to preserve Iran Nuclear Deal
In response to U.S. President Donald Trump’s withdrawal of the United States from the Iran Nuclear Deal, the European Commission on May 18 announced steps to preserve the interests of European companies investing in Iran and to demonstrate the EU’s commitment to the deal.
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FDA will publicly scold drug companies that try to derail generics
The FDA’s new tactic for driving down prescription drug costs: publicly shaming them by “shining a light on situations where drug makers may be pursuing gaming tactics to delay generic competition.” Drug companies that try to scuttle generic competition will be named on the FDA’s Website.
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Report: Wells Fargo employees may have altered customer documents
The latest catalyst for bad news at Wells Fargo: allegations that employees altered information on business customers’ forms and documents.
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System, identification issues complicate lease adoption
Companies are telling the SEC they are still having trouble getting IT systems in place that can put leases on corporate balance sheets as required in 2019.
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Chief compliance officer, two broker-dealers charged with AML offenses
The Securities and Exchange Commission on May 16 announced that it settled charges against broker-dealers Chardan Capital Markets and Industrial and Commercial Bank of China Financial Services for failing to report suspicious sales of billions of penny stock shares. Chardan’s chief compliance officer was also charged.
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Novartis lawyer quits amid Michael Cohen contract controversy
Swiss pharmaceutical giant Novartis announced May 16 that Group General Counsel Felix Ehrat is stepping down. His abrupt departure follows revelations that Novartis had a $1.2 million contract with President Donald Trump’s personal attorney Michael Cohen in exchange for access to the White House on healthcare policy.