2022-01-20T12:13:00+00:00By Neil Hodge
The United Kingdom has paved the way for companies to report on the future financial impact of climate risks, but the process is far from easy and rates of noncompliance—at least initially—could be high.
2022-01-12T21:42:00+00:00By Aaron Nicodemus
Bank of America, Wells Fargo, U.S. Bank, and 16 other financial institutions have formed a climate risk consortium in response to calls from investors and regulators that banks work to mitigate climate-related risks within their own operations.
2022-01-10T19:55:00+00:00By Jaclyn Jaeger
Cruise line operator Carnival Corp. has pleaded guilty and agreed to pay a $1 million penalty for violating a condition of its probation relating to its environmental compliance plan.
2021-12-30T15:18:00+00:00By Jon Prentice, International Compliance Association
With 2021 nearing its end, Jon Prentice of the International Compliance Association recaps three major compliance topics and talking points that have stood out this year.
2021-12-29T17:26:00+00:00By Julie DiMauro
If 2021 was about transition under the Biden administration, 2022 is looking as if it will be a year of action. CW Director of Compliance Programs & Training Julie DiMauro shares her list of key areas she expects to receive enhanced scrutiny in the year ahead.
2021-12-21T23:37:00+00:00By Aaron Nicodemus
Suspicious activity reports flagging potential financial crime risks posed by wildlife trafficking are on the rise, according to a report published by the Financial Crimes Enforcement Network.
2021-12-20T14:23:00+00:00By Aaron Nicodemus
The Office of the Comptroller of the Currency published draft guidance for large banks to identify, measure, monitor, and control climate-related risks to ensure the safety and soundness of their institutions and the market.
2021-12-16T17:39:00+00:00By Aaron Nicodemus
SEC Chair Gary Gensler has hinted the agency’s highly anticipated climate-related disclosure rules will likely be pegged to an international framework, specifically mentioning the Task Force on Climate-Related Financial Disclosures. How can the TCFD help companies prepare for what’s ahead?
2021-12-15T18:16:00+00:00By Aaron Nicodemus
The SEC’s updated fall rulemaking list suggests the agency will push forward with an aggressive agenda in 2022 that will include mandated ESG disclosures and further attempts to walk back rule changes implemented under Republican control.
2021-12-13T16:34:00+00:00By Kyle Brasseur
The CEO of Société Générale will assume direct supervision of the risk and compliance control functions at the French multinational investment bank following the completion of remediation programs in line with two U.S. deferred prosecution agreements.
2021-12-13T13:00:00+00:00By Compliance Week
Environmental, social, or governance—which does your company prioritize? Respondents to our Inside the Mind of the CCO survey were generally split, with trends emerging at industry level.
2021-12-10T14:00:00+00:00By Kyle Brasseur
ESG and cryptocurrency figure to be key topics in 2022, but we’re also keeping an eye on President Biden’s anti-corruption efforts, details on Amazon’s record GDPR fine, the status of Facebook’s first CCO, and more.
2021-12-09T13:00:00+00:00By Aaron Nicodemus
In his first year leading the Securities and Exchange Commission, Gary Gensler has tipped his hand regarding stricter oversight of companies’ environmental disclosures and the cryptocurrency industry. Year 2 will likely see words turn to actions.
2021-12-07T13:00:00+00:00By Jaclyn Jaeger
Systemic risk management lapses at a financial services firm, allegations of toxic culture at a video game giant, and more of the same baffling behavior from one of the world’s largest tech companies comprise CW’s list of the biggest ethics and compliance fails of 2021.
2021-12-06T13:00:00+00:00By Maria L. Murphy
The continued effects of the pandemic, along with the implementation of new accounting standards, have companies and their auditors confronting substantial change in year-end audits.
2021-11-23T14:00:00+00:00Provided by MetricStream
This webcast will discuss the benefits of addressing environmental, social, and governance risks early and offer insights into the future of ESG.
2021-11-19T13:00:00+00:00By Aaron Nicodemus
Respondents to our “Inside the Mind of the CCO” survey agree compliance should play a key part as businesses determine their ESG strategy—either through primary oversight or meaningful participation.
2021-11-18T13:00:00+00:00By Aly McDevitt
A global outcry for racial justice reached a crescendo in 2020, and corporate America pledged to “meet the moment” with transformative change. According to our “Inside the Mind of the CCO” survey, there are macro signs of companies trying to move the needle, but gaps in DEI progress remain.
2021-11-11T16:59:00+00:00By Jaclyn Jaeger
A recent case involving discrimination allegations raised by a former compliance executive at Commerzbank serves as a reminder that sometimes people use words that hurt others’ feelings, but it doesn’t always mean the intention is there.
2021-11-08T20:57:00+00:00By Kyle Brasseur
Michael Hsu, acting head of the Office of the Comptroller of the Currency, explores the role of bank boards to promote improvements in climate risk management practices at their banks.
2021-11-03T21:41:00+00:00By Aaron Nicodemus
The New York State Department of Financial Services announced the creation of a new Climate Risk Division to oversee regulated entities’ efforts at managing the financial risks of climate change.
2021-11-03T15:58:00+00:00By Jaclyn Jaeger
Financial institutions are growing more sophisticated in the way they incorporate scenario analysis into their risk assessments and in quantifying their climate-related risks, a new survey from the Global Association of Risk Professionals finds.
2021-10-28T17:42:00+01:00By Neil Hodge
In its annual review of corporate reporting, the U.K. Financial Reporting Council found companies are struggling to provide stakeholders with enough detail about COVID-19 disruptions. The regulator also announced new requirements for climate-related disclosures.
2021-10-26T20:13:00+01:00By Jaclyn Jaeger
Many Fortune 100 companies continue to enhance their transparency about how their audit committees are executing their core responsibilities, according to the EY Center for Board Matters’ 10th annual review of voluntary proxy statement disclosures.
2021-10-25T12:00:00+01:00By Dave Lefort
Mark your calendars: Compliance Week’s National Conference in Washington, D.C. will be held in person for the first time in nearly three years from May 16-18, 2022.
2021-10-22T19:23:00+01:00By Aaron Nicodemus
In a report ordered by President Joe Biden, the Financial Stability Oversight Council urged market participants, public companies, and regulators to develop a common agenda to respond to climate change-related financial risk.
2021-10-19T14:00:00+01:00Provided by ComplianceLine
Authenticity is the key to a company’s ESG program. Churning out press releases with catchphrases and impressions and assurances that a business is “talking the talk” or “walking the walk” is unacceptable.
2021-10-08T19:12:00+01:00By Aaron Nicodemus
The Federal Reserve will encourage financial institutions to assess the potential financial ramifications of climate change by conducting stress tests, similar to those performed following the 2007-09 financial crisis.
2021-09-24T20:30:00+01:00By Aaron Nicodemus
A sample letter released by the Securities and Exchange Commission this week lays out common mistakes firms make with their climate change disclosures.
2021-09-23T16:11:00+01:00By Neil Hodge
Companies have until the end of the year to stop making misleading claims about the green credentials of their products and services or face regulatory action, the U.K. Competition and Markets Authority has warned.
2021-09-22T18:01:00+01:00By Aaron Nicodemus
A Compliance Week and Fulcrum survey of more than 200 compliance, audit, legal, and finance executives worldwide revealed support for ESG initiatives, but uncertainty about how to monitor progress and measure results.
2021-09-21T16:54:00+01:00Provided by Proofpoint
Organizations are asking more of IT, legal and compliance teams than ever before. They need to manage more data—from more data sources.
2021-09-16T19:54:00+01:00By Jaclyn Jaeger
Crafting an effective environmental, social, and governance program is not an easy feat. At CW’s “Everything ESG” virtual event, compliance/sustainability leaders from ContourGlobal and Osprey shared how they are successfully working to meet their goals.
2021-09-14T17:33:00+01:00By Maria L. Murphy
A recent Center for Audit Quality report aims to provide an understanding of how company management and their auditors apply current U.S. accounting and auditing requirements for financial statements related to climate-related risks.
2021-09-14T16:11:00+01:00By Kyle Brasseur
Jean Rogers advised companies not to rely on regulators and organization frameworks over internal expertise when it comes to determining ESG materiality as part of her keynote at CW’s “Everything ESG” virtual event.
2021-09-13T18:17:00+01:00By Kyle Brasseur
A deluge of SEC rulemaking on ESG matters could begin as early as next month, prompting Davis Polk’s Betty Moy Huber to kick off CW’s “Everything ESG” virtual event with an overarching message on the importance of preparation.
2021-09-13T16:43:00+01:00Provided by OneTrust GRC
Today, businesses find themselves navigating many ESG disclosure obligations and options. Whether you are in the early stages of ESG reporting or looking for ways to make your program more impactful, how do you navigate the ESG reporting landscape?
2021-09-13T12:50:00+01:00By Maria L. Murphy
While the possibility of SEC regulation mandating additional ESG disclosures remains a hot topic, the potential effects of ESG matters on a company’s financial accounting and reporting are not a future consideration.
2021-09-07T15:50:00+01:00By David Povey, International Compliance Association
A recent poll of International Compliance Association members revealed a perhaps surprising appetite within the profession for seizing expanding sustainability responsibilities.
2021-09-03T13:22:00+01:00By Maria L. Murphy
Despite an increase in ESG disclosures that is expected to continue, a significantly low number of public companies have obtained audit firm assurance regarding that reporting, according to a new study.
2021-08-26T20:51:00+01:00By Jaclyn Jaeger
In emerging from the pandemic, the hiring landscape has changed. The companies to thrive in this environment will be the ones that quickly adapt and recognize the kind of care and attention their employees need.
2021-08-26T18:11:00+01:00By Aaron Nicodemus
Determining the best way to get your employees vaccinated against COVID-19 means considering a handful of key issues, in addition to being prepared for difficult conversations.