All Compliance Week articles in Web Issue – Page 390
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Blog
Kraft Heinz discloses probe, takes $15.4B impairment charge
Following a string of accounting and reporting problems, Kraft Heinz Co. disclosed it is under investigation by the SEC and reported a $15.4 billion impairment charge.
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BlogMay delays Brexit vote to March 12
Prime Minister Theresa May has pushed back Parliament’s chance to vote on the United Kingdom’s Brexit deal until 12 March—just 17 days before the country is supposed to leave the European Union.
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Blog
Twitter Co-Founder Evan Williams steps down from board
Twitter Co-Founder Evan Williams has decided to step down as a member of its board of directors, effective at the end of the month, Twitter announced in an SEC filing on Feb. 22.
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Blog
TechnipFMC: $280M is ‘probable estimate’ in global bribery settlement
U.K.-based company TechnipFMC disclosed in a regulatory filing that it has set aside $280 million, which it says is a “probable estimate” of the aggregate settlement amount with U.S., Brazilian, and French authorities in a global bribery case.
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PodcastAlison Taylor on CEO activism, social responsibility
Alison Taylor, managing director at Business for Social Responsibility, discusses with columnist Tom Fox the importance and implications of CEO activism in today’s political environment.
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Blog
Federal Reserve Board permanently bars former JPMorgan employee
The Federal Reserve Board permanently barred from the banking industry a former managing director at a non-bank subsidiary of JPMorgan Chase in connection with the bank's referral hiring program.
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BlogHerbalife provides update on FCPA probe
Dietary supplement maker Herbalife in a regulatory filing provided an update on an ongoing investigation regarding the company’s compliance with the Foreign Corrupt Practices Act in China.
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Blog
ACC opens new Europe headquarters in Brussels
The Association of Corporate Counsel, a global legal association representing more than 45,000 in-house counsel employed by over 10,000 organizations in 85 countries, has opened its first office in Brussels. It will serve as the nucleus of ACC in Europe, led by new managing director Giuseppe Marletta.
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Blog
SFO faces criticism for closing Rolls-Royce, GSK cases
The U.K. Serious Fraud Office closed two long-running bribery and corruption cases against Rolls-Royce and GlaxoSmithKline—a decision that casts further doubt around the effectiveness of the SFO’s investigatory powers and makes companies question the purpose of entering a deferred prosecution agreement at all.
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Blog
U.K. committee slams Facebook as chief visits Zuckerberg
Facebook behaves like a “digital gangster,” has deliberately broken privacy and competition law, and should be subject to statutory regulation urgently, according to a U.K. parliamentary report.
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Blog
Argos Risk announces partnership with SAI Global
Argos Risk, a third-party risk intelligence solutions provider, announced its partnership with SAI Global on an integrated approach to vendor risk management.
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BlogE3 moves to circumvent U.S. sanctions on Iran
The E3 has set up a special trade channel designed to allow companies in the European Union to circumvent U.S. sanctions in an effort to continue humanitarian trade with Iran.
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Article
1MDB scandal could result in pay cut for Goldman Sachs’ executives
Goldman Sachs disclosed in a recent quarterly filing that 2018 equity-based pay awards could be subject to clawbacks depending on the results of governmental and regulatory investigations relating to 1MDB.
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Blog
EBA investigation linked to AML activities at Danske Bank
The European Banking Authority is formally investigating a possible breach of Union law by the Financial Services Authorities of Estonia and Denmark in connection to the Danske Bank money-laundering scandal.
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Blog
McKinsey & Co. to pay $15M to remedy inadequate disclosures in bankruptcy cases
Global consulting firm McKinsey & Co. entered into a $15 million multidistrict settlement agreement with the Department of Justice’s U.S. Trustee Program to resolve disputes over the adequacy of McKinsey’s disclosures of connections in Chapter 11 bankruptcy cases.
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BlogSEC, Congress seek better diversity disclosures
The SEC has issued new guidance regarding diversity disclosures. Meanwhile, newly proposed legislation would require public companies to annually disclose the gender, race, and veteran status of their board directors, nominees, and senior executive officers.
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BlogSEC proposes to expand ‘test-the-waters’ perk to all issuers
The SEC has proposed expanding the “test-the-waters” accommodation—currently available to emerging growth companies—to all issuers, including investment company issuers.
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PodcastHilary Wandall on U.S. data privacy priorities
Hilary Wandall, senior vice president, general counsel, and chief data governance officer at TrustArc, explains to columnist Tom Fox why U.S. companies should address data privacy now, regardless of their motivations.
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Blog
Cognizant to pay $25M to resolve FCPA violations
Cognizant Technology Solutions has agreed to pay a civil penalty of $25 million to settle charges that it violated the Foreign Corrupt Practices Act. Additionally, two former executives of Cognizant were charged for their roles in facilitating the payment of millions of dollars in a bribe to an Indian government ...
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BlogWilliam Barr sworn in as attorney general
The Senate on Feb. 14 confirmed William Barr as the 85th attorney general of the United States, succeeding Jeff Sessions, who stepped down in November.