Alcohol producer Diageo has agreed to pay $5 million to resolve charges brought against it by the SEC for disclosure failures, due to weaknesses in its internal disclosure processes.
Six senior compliance practitioners offer their perspectives on what makes for an effective training program and share tips and guidance for companies looking to enhance their education initiatives.
We can all agree that most check-the-box compliance training is less than exciting. Actually, most of it is the opposite of exciting; it’s beat-your-head-on-the-desk boring. Venture outside of the box and add a few laughs.
In the wake of an ongoing accounting probe and the resignation of two top finance executives, Spirit AeroSystems is facing a class-action lawsuit filed on behalf of shareholders.
Need to get something off my chest before I pass along lessons learned from poorly executed compliance training.
If you’re worried about whether your curriculum is truly effective, start with 10 tips from CW columnist Amii Barnard-Bahn on how to take compliance training to the next level.
Even as companies continue to agree to multi-billion-dollar settlements related to the corrupt acts of third parties, managing the risks associated with them nevertheless eludes many compliance departments.
The chief financial officer and principal accounting officer at aerospace giant Spirit AeroSystems have resigned amid an ongoing accounting probe triggered by a compliance review.
There are a multitude of factors that need to be established when determining training requirements. What is clear is that a one-size-fits-all approach doesn’t work.
A recent court ruling tells the story of a former chief compliance officer that “literally had no idea what he was doing or what he was getting himself into” when he took the position at an investment advisory firm.
New internal guidance from the U.K. Serious Fraud Office outlines what the regulator considers in determining if a company’s compliance procedures are adequate enough to defend against U.K. Bribery Act charges or qualify for a deferred prosecution agreement.
Compliance Week looks back at two decades of scandals, enforcement actions, and regulatory policies (2000-2019) that shaped the compliance function we see today.
A new study from Protiviti and North Carolina State University not only highlights those risks companies should keep an eye on in the coming year—it also prompts leadership to explore whether or not they’re taking enough risks.
Strong social stances, a dedication to doing what’s right, and leading by example highlight the qualities exemplified by our list of ethics and compliance winners of 2019.
From antitrust and privacy concerns in the tech world to compliance officer liability in the pharmaceutical industry to unethical practices in the banking and accounting professions, more than a dozen companies made Compliance Week’s list of the biggest compliance fails in 2019.
The Securities and Exchange Commission has charged Sacramento, Calif.-based radio host Keith Springer and his company with defrauding hundreds of retail clients. The SEC specifically singled out failures in Springer’s compliance program in its complaint.
Changes in the interests of our audience over the last several years help us to understand how much compliance officers must evolve in their jobs to meet the demands of a given time.
The latest edition of the Ask Amii mailbag analyzes a case of a third party’s recommendation being ignored and offers tips on when it’s the right time to change career paths.
The ex-chief executive of France Telecom and two other former executives have been jailed for pursuing a cost-cutting policy that was so severe it led to a spate of employee suicides.
MetLife will pay a civil penalty of $10 million to resolve charges the insurance company violated the books and records and internal accounting controls provisions of federal securities laws.
Former WorldCom CEO Bernard Ebbers was granted early release from prison due to deteriorating health. Ebbers had served 13 years of a 25-year sentence for participating in one of the biggest accounting frauds in U.S. history.
A series of alleged compliance failures at pharmaceutical services provider Omnicare has resulted in the Department of Justice intervening in yet another civil healthcare fraud lawsuit against the company.
There may be many aspects of the future outside our influence, but something we can control is our ability to invest in our knowledge and skills to better prepare us for the opportunities and challenges we may be presented with.
At CW’s Third-Party Risk Management and Oversight Summit, the head of Wells Fargo’s global TPRM group took a few pages out of biotech startup Theranos’ book to shed light on what not to do when building a risk culture.
One of sports’ key enforcement agencies handed out a penalty this week that sent a message no regulator wants to send: Punitive action may only come after the guilty party has already reaped the rewards.
Speaking at CW’s Third-Party Risk Management and Oversight Summit, former FCPA Unit chief Kara Brockmeyer called attention to recent enforcement actions against Walmart and Ericsson as a way to highlight seven steps to third-party compliance.
Swedbank CEO Jens Henriksson announced the financial institution is making some major organizational changes “to create simpler and clearer decision-making structures to facilitate the realization of the bank’s strategy.”
Too many meetings, too little time? In the latest edition of the Ask Amii mailbag, executive coach Amii Barnard-Bahn offers tips on how to reset your corporate calendar and better prioritize your time.
The Department of Justice is requiring Liberty Tax Service to greatly enhance its internal compliance controls as part of a proposed settlement with the tax preparation service provider over allegations of fraud and misconduct.
BGC Financial was accused of various supervision, reporting, and recordkeeping violations that went on for more than five years in a $3 million enforcement action from the CFTC.
Learn about the skill sets needed for compliance roles to succeed in the future, why security is becoming more important to compliance and supervision infrastructure, and compliance technology developments.
Swiss bank UBS will pay $59 million in total civil penalties in resolutions with both Hong Kong and Swiss regulators for overcharging clients for over a decade.
Results of Compliance Week’s second annual technology survey suggest companies are moving along the technological maturity curve in ways that are both quantitative and qualitative compared to last year.
Improving workplace equality is on the list of concerns and priorities for European employers, with many moving to address equal pay and workplace harassment, according to the findings of a newly released survey.
Those in accounting who want to understand better the inherent risks, threats and vulnerabilities, and internal control best practices associated with the use of blockchain technology now have a first-of-its-kind framework to follow.
In the latest edition of the Ask Amii mailbag, executive coach Amii Barnard-Bahn offers a checklist for measuring ethical culture, three guideposts for promoting culture at a startup, and her take on getting the right mix of in-person and virtual trainings.
Learn how to eliminate manual processes and mitigate risks within your month-end close.
Now that RDC has carried out one trillion screens they assure you, efficient compliance screening is possible.
As part of its new companywide ethics and compliance function stemming from a history of environmental violations, Carnival has announced seven new hires and internal promotions.
In today’s business climate, policy and procedure management is essential to stay in compliance and create a solid foundation that will enable organizations to communicate effectively, foster a sense of company cohesion, develop employee engagement, and reduce noncompliance.
Deutsche Bank is just the latest scandal-plagued bank to make headlines, once again, for ignoring sound compliance advice. Maybe it’s time to eliminate the entire concept of compliance altogether, writes an exasperated Jaclyn Jaeger.
Walmart, TechnipFMC, Fresenius—just to name a few—have all fallen prey to the Foreign Corrupt Practices Act in a record year of jacked-up enforcement and sky-high penalties.
In this “Ask Amii” mailbag, executive coach and former Chief Compliance Officer Amii Barnard-Bahn discusses the pros and cons of outsourcing compliance, breaking tough news to business partners, and how to transfer compliance skills out of finance.
With growing investor attention to sustainability, there is often greater emphasis on the governance element (the “G”) of ESG (environmental, social, and governance) and the board’s fiduciary duty to oversee a company’s strategy, risk, and capital allocation.
A former Biomet Argentina employee—in a bit of FCPA hot water—landed on his company’s restricted persons list, sued for defamation, and lost.
ProPetro Holding has announced a shuffling of its executive leadership team following the completion of a review conducted by its audit committee into a series of internal control failures.
In this “Ask Amii” monthly mailbag, executive coach and former Chief Compliance Officer Amii Barnard-Bahn explores the future of compliance and best practices for establishing your program in a non-U.S. domain.
This webcast will help compliance executives explore the latest research and practical insights on how to manage human trafficking and manage third-party risks.
White paper: Internal Controls Over Financial Reporting Considerations for Developing and Implementing Bots
Companies are rapidly digitalizing parts of their business through robotic process automation (RPA). RPA uses computer-coded, rules-based software robots (i.e., bots) to automate certain human tasks.