News

The CFPB has outlined new “principles” for financial services firms when they aggregate consumer data and share it with third parties, even if those agreements facilitate services requested by customers.

In case you missed it this week, e-Commerce company Stitch Fix filed for an IPO, the Czech candidate for PM is slated to win despite fraud charges, and Japan’s corporate compliance takes another hit.

Cordium has expanded its cyber-security and data protection consulting services to the U.K. to help investment firms prepare for and manage the requirements of the EU’s new General Data Protection Regulation.

Resolver, a risk and incident-management software provider, finalized the acquisition of RiskVision, increasing its position in IT risk and compliance markets. As a result of the acquisition, Resolver will employ a team of over 225 security, risk, and compliance professionals.

SAP SE, an enterprise application software services provider, has announced the launch of SAP S/4HANA for advanced compliance reporting, a new solution that helps corporate finance executives manage statutory reporting.

Fusion Risk Management, a provider of business continuity risk management software and services, announced the expansion of its European presence to keep pace with rapidly growing market demand and to support engagement among its burgeoning community of enterprise customers in Europe.

Three former senior employees of the F.H Bertling Group were today sentenced at Southwark Crown Court, the U.K. Serious Fraud Office announced.

Audit committees take note: SEC is putting a lot of faith in you to set the tone for corporate adoption of major changes in accounting requirements.

When viewing compliance as a clear series of steps leading to an effective goal, CCOs should take into account Hallmark 8 in the Ten Hallmarks of an Effective Compliance Program as supplemented by information from the Justice Department in its Evaluation of Corporate Compliance Programs.

The recent corruption scandal to focus on McKinsey & Co., SAP, and KMPG in South Africa has driven home a truism that many in the compliance space have known for some time: South Africa is one of the most corrupt countries on earth. For U.S. and U.K. companies doing business in that country, now is the time review your third-party risk management processes.

The fraudulent certification scandal that rocked Japanese steel manufacturer Kobe Steel serves as a warning to other companies: Make sure your front-line employees feel like they can speak up in the face of fraudulent behavior.

Your compliance program should use ongoing monitoring to both evaluate and improve your regime going forward. And, writes Tom Fox, don't forget to: document, document, document.

Will the recent arrest of VW former Chief Engineer Wolfgang Harz mean more prosecutions of those involved in the worldwide cover-up of the emissions testing scandal? Tom Fox has more.

General Motors today reached a $120 million settlement with the attorneys general of 49 states and the District of Columbia to resolve claims that the automaker concealed safety issues related to ignition-switch-related defects in several of its vehicles.

EPA Administrator Scott Pruitt has issued an agency-wide directive and memorandum intended to end “sue and settle” practices at the agency for consent decrees and settlement agreements.

The Active Cyber Defense Certainty Act is bipartisan legislation that would allow companies to deploy “defensive measures that exceed the boundaries of one’s network in order to monitor, identify, and stop attackers.”

On Oct. 24, the Senate Banking Committee will hold a hearing on President Trump’s nominations of Hester Peirce, a Republican, and Robert Jackson, a Democrat, to be SEC Commissioners.

The Securities and Exchange Commission this week charged mining company Rio Tinto and two former top executives with fraud for inflating the value of coal assets acquired for $3.7 billion and sold a few years later for $50 million.

In the ongoing movement to new methods for recognizing revenue in financial statements, the AICPA has issued yet more new guidance for companies to consider.

The Financial Services Committee has advanced a slate of 22 bills. Among the topics: data protections for the SEC's Consolidated Audit Trail, the thresholds for SIFI designations, supporting emerging growth companies, and killing the Department of Labor’s fiduciary duty rule.

Singapore’s Corrupt Practices Investigation Bureau charged a former senior procurement officer of Keppel Shipyard, a wholly-owned subsidiary of Keppel Offshore & Marine, with 395 counts of corruption.

As the Office of the Comptroller of the Currency increasingly injects itself as a regulatory buffer between banks, financial services firms and the CFPB, Senate Democrats are questioning the legality and authority of Acting Comptroller Keith Noreika.

The European Union and the tech industry are locked in a perpetual struggle over taxation, but the EU is making moves to close certain tax avoidance avenues for good.

One of Europe’s largest truck manufacturers prepares to fight a massive fine over allegations surrounding a long-running price-fixing cartel.

The long-simmering disputes over Ireland and Luxembourg’s tax treatment of Apple and Amazon are about to reach a boiling point with the European Commission.