All Compliance Week articles in Web Issue – Page 242
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ArticleFASB issues standard update for variable lease payments
The Financial Accounting Standards Board finalized an update to its leases standard targeting sales-type leases with variable lease payments.
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Quinn Emanuel adds ex-DOJ fraud chief
Law firm Quinn Emanuel Urquhart & Sullivan announced the addition of Robert Zink, the former head of the Justice Department’s Fraud Section, to its white-collar crime team.
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Article‘The Compliance Entrepreneur’s Handbook’ dispels false paradox
A new book proves compliance practitioners can take risks and get paid dividends, and the authors are willing to show you how.
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ArticleUBS unit to pay $8M for ETP compliance failures
UBS Financial Services agreed to pay more than $8 million as part of an SEC settlement for allegedly failing to adopt adequate policies and procedures regarding a certain exchange-traded product.
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ArticleLordstown Motors confirms DOJ, SEC probes into SPAC merger
Electric vehicle manufacturer Lordstown Motors disclosed in a regulatory filing it has received scrutiny from the Justice Department and the Securities and Exchange Commission regarding its SPAC deal and preorders of its flagship truck.
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ArticleFCA pledge to be more assertive rings hollow amid enforcement drops
A steady decrease in enforcement activity makes it easy to question whether the U.K. Financial Conduct Authority is in position to become the “more innovative, assertive, and adaptive regulator” it pledges to be.
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ArticleHow firms can protect vulnerable customers
Vulnerable customers have finally reached the top of the regulatory priority list. New guidance from the U.K. Financial Conduct Authority sets out what will be expected of firms in providing an appropriate level of care.
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ArticleThe debate over AI: Regulate the tech or its use?
Recent comments by Facebook’s top executive in charge of developing AI reignite the debate over whether regulators should be more focused on reining in the technology itself or just the way it is used.
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ArticleQ&A: Cigna’s approach to SEC human capital disclosure requirements
Julia Brncic, senior vice president, chief counsel and corporate secretary at Cigna, shares how the global health insurance company is complying with new human capital disclosure requirements in Regulation S-K.
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ArticleFormer FTE Networks CEO, CFO charged with accounting fraud
The former chief executive officer and chief financial officer of telecommunications company FTE Networks were arrested and charged with accounting fraud among a series of other alleged crimes.
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ArticleCompliance allegedly ignored in LendingClub $18M FTC settlement
FinTech firm LendingClub has agreed to pay $18 million in a settlement with the Federal Trade Commission for deceiving loan applicants about hidden fees that its compliance department allegedly warned it about.
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ArticleDisney general counsel to step down at end of year
Alan Braverman, Disney’s top legal officer since 2003, is planning to step down at the end of the year when his contract runs out.
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ArticleSEC examinations head Peter Driscoll to depart
The Securities and Exchange Commission announced Peter Driscoll, the director of the Division of Examinations (formerly OCIE), will leave the agency in August.
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ArticleNew bank guidance expands on advice for handling third parties
Three federal banking regulators are seeking public input on the first comprehensive update to risk management guidance for financial institutions entering into business relationships with third parties since 2013.
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ArticleCherry Bekaert audit partner facing SEC scrutiny over MiMedx fraud case
The Securities and Exchange Commission is considering whether to pursue enforcement against a certified public accountant for his alleged role in an accounting fraud case the agency brought against biotech company MiMedx Group.
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Western Dental names chief compliance officer
Dental and orthodontics firm Western Dental has named Eric Royal chief compliance officer.
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Arctaris adds chief compliance officer, general counsel
Boston-based investment firm Arctaris Impact Investors announced the appointment of Alan Halfenger as general counsel and chief compliance officer.
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ArticleSPAC due diligence called out in $8M SEC enforcement
The SEC issued a $7 million fine against startup space company Momentus for misleading investors about the viability of its technology and an additional $1 million fine against the SPAC taking it public for not conducting adequate due diligence.
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Article10 years of U.K. Bribery Act: Compliance enough to define law’s success?
The U.K. Bribery Act marked its 10th anniversary this month, but views are mixed about how the legislation and its enforcement have fared in the decade since it came into force.
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ArticleTIAA subsidiary to pay $97M over wealth advisory sales practices
A subsidiary of the Teachers Insurance and Annuity Association of America has agreed to pay $97 million to settle charges of inaccurate and misleading statements and failing to adequately disclose conflicts of interest regarding employer-sponsored retirement plans.