Tesla’s chief executive Elon Musk has admitted he’s leading his businesses “with great difficulty” while serving as President Trump’s senior adviser. The carmaker’s shareholders are openly questioning his bandwidth. Why isn’t Tesla’s board firing him? He’s “doubly untouchable,” a corporate governance expert says.
Boards & Shareholders
Posted inBoards & Shareholders
Shareholders back Apple sticking to DEI goals as Trump blasts move
Tech giant Apple solidified its commitment to diversity, equity, and inclusion at its annual shareholder meeting on Tuesday, with 97 percent of shareholders rejecting an anti-DEI proposal, according to a public filing.
Posted inAccounting & Auditing
Experts explain why IIA’s new global audit rules will be ‘central’ to securing high-quality assurance
Compliance teams should expect more support from their organization’s internal audit functions. That is the clear message from the Institute of Internal Auditors, the global body of national affiliated internal audit institutes, which has just put into action its new Global Internal Audit Standards.
Posted inBoards & Shareholders
Apple bucks trend in Big Tech, defies anti-DEI headwinds
Apple, one of the most valuable tech giants on the planet, is pushing back against pressure to stop diversity, equity, and inclusion efforts, saying that “a culture of belonging” remains a core value of the organization.
Posted inBoards & Shareholders
U.S. Appeals Court overturns Nasdaq board diversity rule
A U.S. Appeals Court overturned a Securities and Exchange Commission rule that had required companies listed on the Nasdaq stock exchange to disclose whether their boards had women or minority members–and if not, why not.
Posted inBoards & Shareholders
SEC penalizes Rimar CEO, holding company board member $524K total for ‘AI washing’
The Securities and Exchange Commission ordered the owner of Rimar Capital and a board member of its holding company to pay nearly $524,000 in penalties for defrauding investors with false and misleading statements about its use of artificial intelligence.
Posted inBoards & Shareholders
Banks avoid penalties in OCC deals, agree to shore up AML/BSA, board oversight
Among the enforcement actions issued by the Treasury Department’s Office of the Comptroller of the Currency in August, two banks were separately penalized for deficiencies in anti-money laundering and Bank Secrecy Act compliance and board oversight.
Posted inBoards & Shareholders
Women in Compliance highlights: Mentorship driving DEI; fostering board buy-in
Keeping track of regulations and understanding how they affect your business can be a hot mess without proper organization and collaboration, experts said at Compliance Week’s Women in Compliance Summit, held June 3-4, in Atlanta.
Posted inBoards & Shareholders
Debate: Experts discuss pros, cons of whistleblower process
Compliance Week Advisory Board members Eric Young and Ellen Hunt participate in a debate-style discussion regarding whistleblower-related topics including culture of compliance, monetary incentives, retaliation, and more.
Posted inAccounting & Auditing
FAT Brands on defense over DOJ, SEC accounting misconduct allegations
Restaurant operator FAT Brands said it would contest charges announced by the Department of Justice regarding violations of the Sarbanes-Oxley Act related to personal loans made to executive officers.
