Boards & Shareholders


Whistleblower vector

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​Debate: Experts discuss pros, cons of whistleblower process

2024-05-23T15:35:00+01:00By

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.

Johnny Rockets

News Brief

FAT Brands on defense over DOJ, SEC accounting misconduct allegations

2024-05-13T17:22:00+01:00By

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.

CW2024 risk culture

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Effective risk culture starts at the top. Everyone is required to make it successful

2024-04-11T20:38:00+01:00By

There is no magic wand compliance professionals can wave to promote a strong risk culture within their organizations, experts discussed at Compliance Week’s 2024 National Conference.

ESG

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Experts: ESG gone mainstream, but new regs still create headaches

2024-04-09T18:24:00+01:00By

Environmental, social, and governance goals have gained acceptance from senior leadership because of upward pressure from employees, investors, and customers, according to compliance leaders speaking at Compliance Week’s 2024 National Conference.

CW2024 Compliance Value

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Data, consumer support key to conveying value of compliance

2024-04-09T11:39:00+01:00By

Presenting data to the board and providing examples of positive consumer response to ethical decision-making help compliance departments demonstrate value beyond keeping an organization in line with rules and regulations, experts discussed at Compliance Week’s 2024 National Conference.

CW2024 women brunch

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CW2024 women’s brunch panel: Five steps from compliance to the board

2024-04-05T20:45:00+01:00By

So, you think it might be fun to sit on a board someday. Panelists shared misconceptions to unlearn, factors to consider, and preparatory steps to take before rehearsing one’s board pitch during the women’s brunch held at Compliance Week’s 2024 National Conference.

Warner Bros

News Brief

​DOJ antitrust scrutiny pushes out 2 WBD board directors

2024-04-02T00:04:00+01:00By

Two directors on the board at media giant Warner Bros. Discovery resigned after the Department of Justice raised antitrust concerns regarding their similar positions on the board of Charter Communications.

Chemours

News Brief

​Chemours: DOJ, SEC probing exec accounting misconduct

2024-03-28T14:22:00+00:00By

Chemours disclosed it received requests for information from the Department of Justice and Securities and Exchange Commission regarding findings from an internal review into alleged accounting misconduct by several of its top executives.

equinix_web

News Brief

Equinix probing short seller accusations amid DOJ scrutiny

2024-03-25T19:48:00+00:00By

Data center owner Equinix disclosed it launched an independent investigation to review matters referenced in a recent short seller report that also caught the attention of the Department of Justice.

ESGReporting

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Experts: Legal noise around SEC climate disclosure rule no excuse for standing still

2024-03-20T16:03:00+00:00By

Legal experts are advising their public company clients to move forward with plans to comply with the SEC’s climate-related disclosure rule, despite lawsuits and other challenges being brought against the controversial policy in the aftermath of its approval.

Epstein case study cover 3x2

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Chapter 3: Egregious failures: Customer due diligence and transaction monitoring

2024-03-20T16:00:00+00:00By

Why did JPMorgan Chase retain Jeffrey Epstein for more than a dozen years? How did the relationship persist despite glaring red flags? The “why” is straightforward; the “how” is more complicated.

Epstein case study cover 3x2

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Chapter 1: Compliance v. complicity: The ‘underbelly’ of bank culture

2024-03-18T16:00:00+00:00By

Why were decisions made the way they were at the banks that serviced Jeffrey Epstein? Evidence points to a cultural tension: a tug-of-war between the allure of profit and the drag of compliance, with the former having all the pulling power.

Chemours

News Brief

Chemours says probe found accounting misconduct by execs

2024-03-08T16:09:00+00:00By

Chemours said an internal review into the actions of senior managers alleged to have engaged in accounting misconduct uncovered violations of the chemicals company’s code of ethics regarding the promotion of full, fair, accurate, timely, and understandable disclosure.

SEC office

News Brief

HG Vora fined $950K for beneficial ownership disclosure failures

2024-03-04T17:27:00+00:00By

New York-based investment adviser HG Vora Capital Management agreed to pay $950,000 to settle charges levied by the Securities and Exchange Commission alleging failure to report beneficial ownership regarding its stake at trucking transport company Ryder System.

Business ethics

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Best practices for determining need for a human rights policy

2024-02-29T13:21:00+00:00By

Does your business need a human rights policy? An increasing number of organizations believe they do, according to research firm Gartner.

ESG

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Grewal: Investors care about ESG claims—so do SEC enforcers

2024-02-27T20:34:00+00:00By

Environmental, social, and governance issues are increasingly material to investors, and the Securities and Exchange Commission is checking to ensure businesses’ ESG statements are above board, according to the agency’s enforcement director.

Brasseur_opinion

Opinion

Ten things I’m excited for at CW National 2024

2024-02-22T13:00:00+00:00By

A new month and a new venue but a lot of the same you love about Compliance Week’s National Conference. CW Editor in Chief Kyle Brasseur shares what he’s looking forward to most at the 2024 edition of the annual event.

Van Eck

News Brief

VanEck fined $1.8M over influencer promo nondisclosure

2024-02-19T15:00:00+00:00By

Van Eck Associates agreed to pay $1.75 million as part of a settlement with the Securities and Exchange Commission regarding its alleged failure to properly disclose the planned involvement of a social media influencer in the launch of an exchange-traded fund.

Teamwork

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LRN survey: Compliance programs shifting focus from bribery, corruption

2024-02-16T22:35:00+00:00By

Many ethics and compliance programs have refocused their efforts away from bribery and corruption and onto data security and privacy, complex government regulations, artificial intelligence security, and other contemporary challenges, a survey from LRN found.

Climate

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Verifiable data key as companies begin TNFD-aligned disclosures

2024-02-15T14:47:00+00:00By

More than 320 organizations worldwide committed to disclosing their impact on nature following the recommendations of the Taskforce on Nature-Related Financial Disclosures.

Board table

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U.K. governance code revisions: Boards lead on culture, audit supports

2024-02-13T22:12:00+00:00By

Corporate culture, internal controls, and assurance moved up the boardroom agenda with the publication of the U.K.’s revised corporate governance code and its supporting guidance.

Google HQ

News Brief

Alphabet to pay shareholders $350M over Google+ privacy lapses

2024-02-07T18:00:00+00:00By

Alphabet, the parent company of technology giant Google, agreed to pay $350 million in a preliminary settlement with shareholders over alleged data privacy violations and materially false and misleading statements linked to now-defunct social media site Google+.

Data breach

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Experts: Good data breach response grounded in preparation

2024-02-06T15:24:00+00:00By

Two chief compliance officers and an attorney discussed preparation for the “when, not if” threat of a data breach during a panel at CW’s Cyber Risk & Data Privacy Summit.

Cyber locks

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Consultation opens debate on proposed U.K. cyber governance code

2024-01-30T15:54:00+00:00By

Cybercrime is regularly cited as a leading concern for executives, yet board oversight of cyber risks is often inadequate and governance poorly understood, according to the authors of a proposed U.K. code of practice on cybersecurity governance.

London cityscape

News Brief

FRC ups board responsibilities in corporate governance code revisions

2024-01-23T12:56:00+00:00By

The Financial Reporting Council held back on the latest round of updates to the U.K.’s corporate governance code, as the country remains wary of pushing away businesses and investors.

NYC skyline

News Brief

NYDFS: Banks must vet execs, including CCOs, ‘not just upon hiring’

2024-01-22T20:18:00+00:00By

The New York State Department of Financial Services released final guidance on how banks and non-depository financial institutions should vet executives, including chief compliance officers, before and during their employment.

London Stock Exchange

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U.K. push for more listings to lower bar on governance?

2024-01-18T14:22:00+00:00By

Moves by the U.K.’s financial regulatory body to encourage companies to list in London might fail to deliver or send mixed messages about the value placed on corporate governance, according to experts.

DOJ

News Brief

Silver Lake Hospital to pay $19M over Medicare false claims

2024-01-17T17:37:00+00:00By

New Jersey-based Silver Lake Hospital agreed to pay more than $18.6 million as part of a settlement with the Department of Justice addressing allegations of false claims submitted to Medicare for inpatient cost outlier payments.

Salary

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Disclosure rules not enough to curb U.K. salary gaps

2024-01-15T14:16:00+00:00By

The issue of “fat cat” pay awards was reignited in the United Kingdom after a think tank found a typical FTSE 100 CEO earned the average annual salary for a full-time worker after just four days into the new year.

Org structure

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Money, size, industry: Multiple factors at play in setting compliance reporting lines

2023-12-19T22:38:00+00:00By

Compliance teams most often report to their firm’s legal department, our “Inside the Mind of the CCO” survey found. However, heavily regulated companies and those with fewer employees saw different trends emerge.

BP

News Brief

Ex-BP CEO facing up to $41M in losses over colleague relationship dishonesty

2023-12-14T18:23:00+00:00By

The board of British oil and gas giant BP announced its remuneration determinations after finding former CEO Bernard Looney committed “serious misconduct” in his disclosure of personal relationships with company colleagues.

Executive board

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The road from CCO to board: What compliance professionals need to know

2023-12-04T16:00:00+00:00By

Chief compliance officers and chief ethics and compliance officers desire progressing to the board more than any other role change, our “Inside the Mind of the CCO” survey found. So, what does it take for compliance to get on a corporate board?

ESG data

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More companies enter ‘discovery phase’ of ESG reporting in 2023

2023-11-28T16:00:00+00:00By

Climate-related disclosure efforts are amplifying year over year, despite persistent and persnickety pain points, as more organizations widen the scope of their ESG journeys, our “Inside the Mind of the CCO” survey found.

AI business

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Using AI? The SEC wants to know about it

2023-11-20T20:16:00+00:00By

The Securities and Exchange Commission has not yet implemented rules governing use of artificial intelligence but still expects regulated entities to adhere to commonly accepted practices, including disclosure, said an agency enforcement official.

News Brief

SEC adopts Dodd-Frank rule on clearing agency conflicts of interest

2023-11-16T19:54:00+00:00By

The Securities and Exchange Commission continued its recent run of pushing through remaining regulations under the Dodd-Frank Act of 2010 by adopting new rules to mitigate conflicts of interest for security-based swap clearing agencies.

Spectrum

News Brief

Charter Communications fined $25M over stock buyback violations

2023-11-15T18:46:00+00:00By

The Securities and Exchange Commission fined Charter Communications $25 million for violating internal accounting control requirements related to stock buybacks.

DOJ wall

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DOJ floats declinations as incentive under M&A self-disclosure safe harbor

2023-10-05T18:50:00+01:00By

The Department of Justice’s push to incentivize companies to voluntarily self-disclose potential misconduct reached its next stage in the form of a safe harbor policy regarding mergers and acquisitions.

Satnam Lehal 3x2

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Lessons from Danske Bank CCO: Four pillars to successful remediation

2023-10-05T14:59:00+01:00By

Outgoing Danske Bank CCO Satnam Lehal shares with Compliance Week lessons learned from addressing deficiencies in the bank’s compliance program while managing the expectations of regulators, the board, employees, customers, analysts, investors, and the public.

lyft_web

News Brief

Lyft fined $10M for not disclosing board member’s role in pre-IPO stock sale

2023-09-18T16:10:00+01:00By

Ridesharing company Lyft agreed to pay a $10 million penalty to settle allegations by the Securities and Exchange Commission it failed to disclose a pre-initial public offering stock deal that netted a member of its board millions of dollars.

Bank of America

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Investor lawsuit targets Bank of America over off-channel comms fines

2023-07-25T20:24:00+01:00By

Stockholder lawsuits have emerged as the latest aftershock from the regulatory crackdown against banks and financial services firms for allowing off-channel business communications by their employees.

TPRM Huntley

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TPRM Summit takeaways: Tech risks, board and audit relationships

2023-07-05T17:10:00+01:00By

The impact of new technologies like generative artificial intelligence on the third-party risk management landscape was among the points of discussion addressed at Compliance Week’s TPRM Summit in Atlanta.