All Compliance Week articles in Web Issue – Page 1171
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ArticleSEC cites ‘inadequate’ compliance in fraud charges against radio host
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.
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ArticleCFTC awards more than $1M to internal compliance whistleblower
The CFTC announced a whistleblower award north of $1 million for a tipster who went through internal compliance at his or her company to get the information to regulators.
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ArticleICO hands out first GDPR fine as BA, Marriott cases linger
The U.K. Information Commissioner’s Office has levied its first fine under the GDPR against a London-based pharmacy. Record-setting penalties announced by the ICO in July against British Airways and Marriott are still not finalized.
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ArticleSutter agrees to pay $575M, gets compliance monitor in antitrust settlement
California announced a settlement with Sutter Health for $575 million to settle claims of anti-competitive behavior brought by the state attorney general as well as a class-action group that included employers and unions.
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ArticleIRS issues proposed regs on compensation rules under tax reform
Companies have a little more clarity from the Internal Revenue Service about how to interpret provisions under tax reform affecting executive compensation.
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Monmouth general counsel set to retire
Monmouth Real Estate Investment Corp. announced General Counsel Allison Nagelberg will retire from the company, effective Dec. 31.
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BitPay adds new legal, compliance head
Global blockchain payments provider BitPay announced Eden Doniger has joined the company as general counsel and chief compliance officer.
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ArticleNew COSO guidance addresses cyber-risk management
Boards of directors, audit committee members, and executive management teams interested in learning how to apply COSO’s Enterprise Risk Management framework to protect against cyber-attacks now have new guidance available.
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ArticleTroubled Boeing loses legal head to retirement
J. Michael Luttig, who has led Boeing’s legal matters associated with the Lion Air Flight 610 and Ethiopian Airlines Flight 302 crashes, will retire at year end.
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ArticleTop 10 risks to keep executives on their toes in 2020
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.
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ArticleNew York legislation requires ‘Women on Corporate Boards Study’
New York Governor Andrew Cuomo has signed legislation requiring a study to be conducted on the number of women directors who serve on each board of directors of domestic and foreign companies authorized to do business in New York.
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Cousins Properties’ chief accounting officer to retire
Cousins Properties, a real estate investment trust company, has named Jeffrey Symes as its new chief accounting officer, following the retirement in March 2020 of its current chief accounting officer, John Harris.
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ResourceWhite paper: Six Steps to Complete Third-Party Risk Management
Ensuring compliance with third-party risk management (TPRM) regulatory and cyber security requirements means having the right combination of processes and controls in place, and that you can efficiently demonstrate these processes and controls to auditors.
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Hong Kong’s SFC fines RHB Securities Hong Kong $6.4M
Hong Kong’s Securities and Futures Commission has fined RHB Securities Hong Kong $6.4 million for failing to comply with regulatory requirements on conflicts of interest and supervision of account executives.
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ArticleFASB cloud computing cost standard to soon take effect
An updated cloud computing standard from the Financial Accounting Standards Board will clarify expenses associated with Web hosting arrangements for cloud computing.
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ArticleSEC plans to ease auditor conflict-of-interest rules
A proposed update to auditor independence rules relaxes restraints on affiliate relationships and initial public offerings.
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Ex-Nissan chair Carlos Ghosn secretly flees Japan
Carlos Ghosn, the former chairman of Japanese automaker Nissan, late last week secretly fled Japan, where he was awaiting trial over allegations of financial misconduct.
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ArticlePCAOB: Best practices in improving audit quality
The PCAOB has published a document that offers insights from audit committee chairs on what procedures have worked best for them in improving audit quality.
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ArticleWawa data breach part of ‘concerning’ industry trend?
While Wawa continues to investigate the source of a widespread data breach that put thousands of customers at risk, its connection to a recent Visa alert suggests other retailers should be on the lookout for similar threats to their cyber-security infrastructure.
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ArticleExxon wins legal battle with OFAC over sanctions violation
A federal judge ruled this week Exxon will not have to pay a $2 million civil penalty levied by OFAC in 2017 for violating Ukraine-related sanctions regulations.