Government healthcare services corporation Maximus settled with the Securities and Exchange Commission for allegedly failing to disclose an executive’s two siblings were also employed by the company and received annual compensation of more than $120,000.
Electric vehicle manufacturer Canoo agreed to pay $1.5 million as part of a settlement with the Securities and Exchange Commission for alleged material misrepresentations regarding revenue and failing to properly disclose executive compensation.
Compliance Week’s inaugural Women in Compliance Summit featured two days dedicated to elevating attendees and addressing some of the unique challenges women face in the profession.
Tool manufacturer Stanley Black & Decker avoided a civil penalty in settling with the Securities and Exchange Commission regarding alleged violations of executive perk disclosure rules.
Annual total compensation for chief compliance officers rose 10 percent in 2022, according to the latest compensation survey by executive search firm BarkerGilmore.
Leaders at Silicon Valley Bank, Signature Bank, and the regulators who seized their banks testified before Congress across separate hearings.
Recent policy changes at the Department of Justice provided plenty of fodder for a leadership panel of senior legal and compliance practitioners to discuss during Compliance Week’s 2023 National Conference.
In-house counsel salaries took a small step back in 2022, according to the latest analysis from executive search firm BarkerGilmore, while overall bonuses suffered a much steeper decline.
Sibley Hospital and its parent company, Johns Hopkins Health System, agreed to pay $5 million to settle allegations the hospital billed Medicare for services referred by physicians with whom it had a financial relationship.
The Failed Bank Executives Clawback Act seeks to require the Federal Deposit Insurance Corporation to claw back five years’ worth of compensation from executives who lead failed banks.
President Joe Biden is calling on Congress to “do more to hold senior bank executives accountable” since the market turmoil that has followed the collapses of Silicon Valley Bank and Signature Bank.
Businesses and compliance professionals should expect the Department of Justice’s new compensation clawback policies to be applied on a case-by-case basis, with broad discretion, according to legal experts.
Credit Suisse Group disclosed in its annual report its internal control over financial reporting was “not effective” for the fiscal year ending December 2022.
The Department of Justice announced changes to its evaluation procedures for corporate compliance programs in criminal investigations, including monitoring off-channel messaging by employees, executive compensation programs, and how the agency selects compliance monitors.
Corporate resolutions involving the Department of Justice’s Criminal Division will now include a requirement the resolving company develop compliance-promoting criteria within its compensation and bonus system, according to Deputy Attorney General Lisa Monaco.
Greenbrier Companies and its former chief executive officer will pay a total of $1.1 million to settle charges from the Securities and Exchange Commission the firm failed to disclose perks related to the use of a private jet owned by the CEO.
Morgan Stanley fined its employees up to $1 million for using unauthorized communication channels in violation of recordkeeping rules, according to multiple reports.
The Securities and Exchange Commission found McDonald’s violated federal securities law when it failed to fully disclose material factors regarding the firing of former Chief Executive Stephen Easterbrook in 2019.