All articles by Jaclyn Jaeger – Page 115
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Blog
SL Green Realty Names Chief Accounting Officer
SL Green Realty, a commercial properties company, has named Maggie Hui as chief accounting officer, effective Jan. 1, 2015. Hui succeeds Matthew DiLiberto, who assumes his new position as SL Green’s Chief Financial Officer on the same date. Details inside.
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Blog
2014 Corruption Perceptions Index Lists Most Corrupt Countries
Turkey, Angola, and China are just a few countries that fared worst than last year in Transparency International’s 2014 Corruption Perceptions Index released today. The United States placed 17th, up two spots from its 2013 ranking. The last three years mark an improvement from the 2011 TI index, when the ...
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Article
Companies Struggle Over When to Report They’ve Been Hacked
Image: When a company discovers that sensitive data has been compromised, two of the toughest decisions that it faces are whether and when to let regulators, customers, and the public know about the loss. While companies may be hesitant, government officials say they can help. “Getting search warrants, arrest warrants, ...
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Blog
United Rentals Appoints Principal Accounting Officer
United Rentals has appointed Jessica Graziano as controller and principal accounting officer. She joins the equipment rental company from Revlon, where she most recently served as chief accounting officer and corporate controller. Details inside.
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Blog
Toyota Motor Credit Probed for Lending Discrimination
The Department of Justice and the Consumer Financial Protection Bureau last month launched an investigation against Toyota Motor Credit over allegations of auto-lending discrimination practices, Toyota announced in a recent Form 8-K with the Securities and Exchange Commission. According to the agencies, “such practices resulted in discriminatory pricing of loans ...
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ArticleNew Bribery Index Aimed at Corporate Use
Companies have a new resource to help assess bribery and corruption risks in the countries where they operate, one that aims to be more meaningful to global companies than Transparency International’s widely used Corruption Perceptions Index. Trace International’s TRACE Matrix is intended specifically for corporate use, and it analyzes four ...
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Blog
OECD Report: Foreign Bribery Enforcement on the Decline
A report from the Organization for Economic Co-operation and Development reveals that the number of sanctions against companies and individuals for the bribery of foreign government officials appears to be declining. According to the report, 42 foreign bribery cases concluded last year, significantly lower than the 78 foreign bribery cases ...
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Blog
Total to Face New Corruption Charges in France
One year after paying more than $398 million to U.S. prosecutors for violations of the Foreign Corrupt Practices Act, Total S.A. is expected to face new corruption charges, this time in France. In announcing the settlement last year, Acting Assistant Attorney General for the Justice Department’s Criminal Division Mythili Raman ...
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Blog
HSBC Private Bank Pays $12.5 Million for Providing Unregistered Services to U.S. Clients
HSBC’s Swiss-based private banking arm agreed today to pay $12.5 million to Securities and Exchange Commission for violating federal securities laws by failing to register with the SEC before providing cross-border brokerage and investment advisory services to U.S. clients. “HSBC Private Bank’s efforts to prevent registration violations ultimately failed, because ...
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Blog
Caldwell: Advances in Global Anti-Corruption Efforts
Image: Title: CaldwellU.S. regulators increasingly are collaborating with foreign governments to fight bribery and corruption on a global scale, advancing the Justice Department’s efforts to uncover and prosecute violations of the Foreign Corrupt Practices Act. “Every day, more countries join in the battle against transnational bribery,” said Leslie Caldwell, assistant ...
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Blog
FINRA Fines Citigroup $15 Million for Supervisory Failures
The Financial Industry Regulatory Authority fined Citigroup Global Markets $15 million last week for failing to adequately supervise communications between its equity research analysts and its clients and Citigroup sales and trading staff. In settling this matter, Citigroup neither admitted nor denied the charges, but consented to the entry of ...
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Article
Antitrust Division to Increase Use of Probation in Enforcement
Image: Title: SnyderThe Antitrust Division of the Department of Justice has signaled a shift in its enforcement approach concerning companies that violate antitrust laws and don’t have effective compliance programs. During two recent speeches, Antitrust officials said they would seek court-supervised probation in such cases. “Conversely, companies that can demonstrate ...
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Blog
Credit Suisse to Pay $2.6 Billion in Tax Plea Deal
Switzerland-based Credit Suisse was sentenced today for conspiracy to aid and assist U.S. taxpayers in filing false income tax returns and other documents with the Internal Revenue Service. It will pay $2.6 billion to state and federal agencies—$1.1 billion to the Department of Justice and $666.5 million in restitution to ...
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Blog
Justice Department Nets Record $5.7 Billion From False Claims Cases
Image: Title: DeleryThe Department of Justice obtained a record $5.7 billion in recoveries from civil cases involving fraud and false claims against the government in fiscal year 2014, thanks mainly to massive settlements reached in the financial services and healthcare industries. “In the past three years, we have achieved the ...
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Blog
Justice Department Collected $24.7 Billion in Civil and Criminal Cases in 2014
The Department of Justice collected $24.7 billion in civil and criminal actions in the fiscal year ending Sept. 30, 2014, Attorney General Eric Holder announced in a video released today by the agency. That amount is “more than three times the $8 billion total the Department collected in 2013,” Holder ...
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Blog
2014 Marked Record Year for SEC Whistleblower Program
Fiscal year 2014 marked a historic year for the Securities and Exchange Commission’s whistleblower program both in the number of tips it received and the number and dollar amount of whistleblower rewards the agency doled out, according to the SEC’s annual report to Congress. The SEC received 3,620 whistleblower tips ...
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Blog
Whitewashed Sanctions Report Costs Bank of Tokyo-Mitsubishi $565 Million
Bank of Tokyo-Mitsubishi UFJ today reached a $315 million settlement with the New York State Department of Financial Services—adding to the $250 million settlement it reached with DFS last year—for misleading regulators regarding the bank’s transactions with Iran, Sudan, Myanmar, and other sanctioned entities, bringing the bank’s total monetary penalty ...
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Article
Wanted: Compliance Officers With Leadership, Communication Skills
Image: Chief compliance officers are still in high demand, but the skills that companies are looking for in top candidates are changing. Companies are seeking compliance leaders who have the ability to influence others, communicate effectively, and build relationships with a wide range of internal and external stakeholders, including regulators. ...
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Blog
G20 to Focus on Beneficial Ownership Transparency in 2015
Improving beneficial ownership transparency will be a top priority for leaders of the G20 countries in 2015. Following a two-day summit in Australia this week, the G20 leaders released a new set of principles that sets out concrete measures that G20 countries will take to prevent the misuse of legal ...
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Article
HHS’s Plan to Target Data Security in 2015 Means More Audits
The Department of Health and Human Services plans to raise the bar on data security in the healthcare industry in the year ahead. The renewed focus likely means more audits and enforcement actions for providers and insurers. On HHS’s checklist are required contingency plans that establish procedures for responding to ...