All Compliance Week articles in Web Issue – Page 1141
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Florida man sentenced for role in collapse of Puerto Rico bank
The CEO of a now-bankrupt pharmaceutical company was sentenced to 30 years in prison for his role in a $100 million plot that triggered Westernbank of Puerto Rico’s collapse.
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Article
Agencies exclude community banks from the Volcker Rule
Five federal financial regulatory agencies announced this week they have adopted a final rule to exclude community banks from the Volcker Rule.
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Warren, Dems seek mandatory climate disclosures
Senator Elizabeth Warren (D-Mass.) has reintroduced the Climate Risk Disclosure Act, legislation that would require public companies to disclose their exposure to climate-related risks.
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SEC’s Clayton emphatically defends Reg. BI
SEC Chairman Jay Clayton, speaking to an audience of financial professionals in Boston, vigorously defended Regulation Best Interest and came out swinging against critics.
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Ryan Specialty Group appoints global CCO
International insurance organization Ryan Specialty Group announced the hiring of Michael Blackshear as a senior vice president and global chief compliance officer.
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ArticleSEC charges former Illumina accountant with insider trading
The SEC has filed insider trading charges against a former Illumina accountant and friend whose alleged scheme resulted in $6.2 million in profits.
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Bitstamp hires U.S. chief compliance officer
Global cryptocurrency exchange Bitstamp announced the appointment of Caitlin Barnett as U.S. chief compliance officer.
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William & Mary names chief compliance officer
The College of William & Mary announced the selection of Pamela Mason as its new chief compliance officer following a national search.
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ResourceGuide: Can your ID verification solution stand the heat?
The price of fraud keeps going up, costing the global economy $41.6 trillion per year. Recognizing the four degrees of fraud is the first step in keeping fraudulent users off your platform.
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ArticleFed Chair urges caution with Facebook virtual currency venture
Count Federal Reserve Chairman Jerome Powell and several members of Congress as concerned observers of Facebook’s planned foray into the world of virtual currency.
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ArticleAfter another arrogant move, Facebook needs to be put in check
The social media company is hardly quiet about its crypto initiative, but nevertheless failed to see the materiality of creating a global payments system.
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ArticleAnother CECL sleeper? Auditors get new rules on estimates
While companies adopt CECL, auditors are gearing up for new rules requiring them to more closely scrutinize estimates and the specialists who produce them.
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ArticleU.K. audit regulators see no improvement in audit quality
U.K. audit regulators saw no improvement in audit quality in their most recent inspections, indicating none of the major firms achieved targeted pass rates.
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ArticleQuality compliance can now earn antitrust leniency
A Justice Department policy change–to evaluate corporate compliance programs as a potential leniency factor on antitrust cases–has come to fruition through announcements made this week.
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ArticleReport: Corruption worsening in Africa
Most African citizens believe corruption is getting worse in their country and that their government is doing a bad job tackling it, according to the 10th edition of the “Global Corruption Barometer – Africa.”
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IIA announces global chair and board for 2019-20
The Institute of Internal Auditors announced the election of a newly structured global board of directors for 2019-20.
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PodcastBob Ward on pros of targeted sanctions
Bob Ward, director of trade compliance at Wesco International, explains to columnist Tom Fox the benefits of targeted sanctions and how compliance practitioners can properly respond to such.
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ArticleFASB tees up CECL delay for small public companies
FASB is formally considering delaying the required effective date of some of its standards, including credit losses for small public companies.
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Article
Prometheum developing SEC-compliant cryptocurrency listing
Blockchain platform Prometheum announced the development of an SEC-compliant infrastructure on which companies can list their securitized cryptocurrency tokens.
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ArticleReckitt Benckiser’s record $1.4B opioid settlement a warning for drug companies
Reckitt Benckiser Group will pay $1.4 billion to resolve a long-running federal investigation concerning the sales and marketing of the opioid addiction treatment drug Suboxone.