All Compliance Week articles in Web Issue – Page 1240
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Article
Former WageWorks CEO, CFO settle SEC accounting violation charges
The Securities and Exchange Commission charged two former executives of WageWorks with making false and misleading statements and omissions that resulted in the improper recognition of $3.6 million in revenue.
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ArticleGoldman Sachs 1MDB fallout a case study for bonus risks
As Goldman Sachs cuts the pay of its top executives in response to more than $5 billion in penalties incurred for the 1MDB scandal, Martin Woods once again ponders whether bonuses helped facilitate the improper conduct that took place.
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ArticleAnti-corruption developments in 2020: China, India make strides
A global panel of experts with law firm Gibson Dunn share insights around recent anti-corruption developments in some of the world’s largest regions, including China, India, Latin America, and Africa.
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ArticleTreasury head Yellen calls regulators together to discuss market volatility
Treasury Secretary Janet Yellen will meet with the heads of several regulatory agencies to discuss potential responses to the wild swings in value of GameStop and several other stocks.
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ArticleEurope handcuffed by current corporate liability laws; is change coming?
European countries have begun to question whether their laws around corporate liability need to be reformed. However, change may not be as rapid as first thought.
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ArticleMcKinsey to pay $573M for role in opioid epidemic
McKinsey & Company reached a $573 million settlement with 49 state attorneys general and the District of Columbia related to consulting services it provided to pharmaceutical companies that directly contributed to the opioid epidemic.
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Article
SEC: GPB Capital operated ‘Ponzi-like’ scheme, retaliated against whistleblower
GPB Capital Holdings allegedly defrauded more than 17,000 retail investors in a Ponzi-like scheme, then attempted to impede an employee from blowing the whistle on the illegal practices, according to the SEC.
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VideoVideo: What took Facebook so long to name a CCO?
Aly McDevitt gives props to Abercrombie & Fitch and its chief ethics and compliance officer for providing an example of marrying values to work, while Dave Lefort wonders aloud why Facebook is just now naming its first-ever CCO.
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ArticleYellen, regulators say market withstood pressure from GameStop surge
A key meeting of regulators has determined the recent spike caused by Reddit users for normally tame stocks like GameStop and AMC Entertainment has not had a significant impact on the market, which Treasury Secretary Janet Yellen termed “resilient.”
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ArticleSurvey: Pandemic pervades executives’ top 10 risks for 2021
The aftermath of the coronavirus pandemic dominates the top risks that will keep boards of directors and executive management teams on their toes in 2021, a new survey by Protiviti and NC State’s ERM Initiative finds.
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ArticleFINRA report: Top risk areas for AML, cyber-security
The Financial Industry Regulatory Authority has published a new report designed to help inform member firms’ compliance programs by providing annual insights from its examinations and risk monitoring programs.
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ArticleThe great privacy race? Apple, Facebook pitch data transparency
Apple and Facebook, two of the world’s most powerful companies, are jockeying over how transparent to be with their customers on whom they share users’ personal data with and what they do with it.
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ArticleClover Health facing SEC probe over short-seller report
The Securities and Exchange Commission has launched an investigation into Clover Health Investments in response to scathing allegations made against the Medicare provider by short-seller Hindenburg Research.
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ArticleU.K.’s SFO slapped down over attempts to flout jurisdiction rules
In another blow to the agency’s credibility, the U.K.’s Serious Fraud Office cannot attempt to force foreign companies to hand over evidence held overseas, according to a recent court ruling.
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ArticlePCAOB 2019 inspection reports: Deloitte still tops; PwC deficiency rate rises again
Three of the Big Four audit firms—Deloitte, EY, and KPMG—improved their year-over-year deficiency percentage in the PCAOB’s 2019 inspection reports, while PwC’s deficiency rate increased for the third straight year.
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ArticleQ&A: Global Widget CCO says CBD industry at regulatory ‘tipping point’
Global Widget Chief Compliance and Legal Officer Margaret Richardson talks with Compliance Week about how the company’s focus on federal and state compliance lends to leading the way in the currently unregulated cannabidiol industry.
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ArticleSEC expands number of staffers authorized to launch investigations
The acting head of the Securities and Exchange Commission has expanded the number of staff authorized to issue a formal order of investigation, perhaps a sign the agency intends to launch more cases under President Joe Biden.
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ResourceWhite paper: Rethinking Third-Party Cyber Risk Management
This guide will help you better understand the choices before you, no matter if your organization hasn’t even cracked the seal on third party cyber risk management.
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Article
Carrols Restaurant Group appoints general counsel
Carrols Restaurant Group, the largest Burger King franchisee in the United States, announced it has appointed Jared Landaw as vice president and general counsel.
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Article
OPKO Health chief accounting officer resigns
Diagnostic test company OPKO Health announced the resignation of Rulfo Hernandez as chief accounting officer, treasurer and global corporate controller.