All Compliance Week articles in Web Issue – Page 440
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Blog
Payroll controls and compliance
How can payroll help when operationalizing a compliance program? Tom Fox explores payroll’s role and the four key areas that should be considered when reviewing compliance goals.
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Blog
SEC expands application of scaled disclosures
The SEC has extended its “smaller reporting company” definition to expand the number of companies that qualify for scaled disclosure accommodations.
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Blog
Companies have new rules on accounting for contributions
Companies have some new guidance on how to account for contributions they receive and make that are not clearly governed by revenue recognition rules.
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Blog
PwC ordered to pay FDIC $625 million in Colonial Bank case
PwC has been ordered to pay the FDIC $625.3 million as a result of a long-running accounting fraud that caused the 2009 failure of Colonial Bank.
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Blog
Glencore receives subpoena from Department of Justice
Switzerland-based Glencore Ltd, a subsidiary of Glencore plc, said Tuesday it received a subpoena on July 2 from the U.S. Department of Justice to produce documents and other records with respect to compliance with the Foreign Corrupt Practices Act and U.S. money laundering statutes.
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Article
Supreme Court decision upends state tax law compliance
A Supreme Court decision in a state sales tax case removed long-standing case law that told state governments they could only collect sales tax on commercial activity within their state borders from sellers that had a physical presence within those borders.
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Article
French probing LafargeHolcim for violations in Syria
LafargeHolcim’s French unit has been placed under formal investigation over allegations the cement maker was “complicit in crimes against humanity” in Syria after admitting to paying funds to ISIS and other terrorist groups.
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ArticleManaging contracts in an evolving regulatory world
Knowing how to properly manage risk across the company’s entire contract portfolio is a critical part of maintaining compliance with contractual agreements and ensuring that contracts remain current and in line with regulatory requirements in the United States and abroad.
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Blog
Commissioner presses for modern slavery central registry
U.K. Independent Anti-Slavery Commissioner Kevin Hyland has issued an ultimatum to the government to get moving on setting up a central, state-owned registry for corporate modern slavery statements that he wants in place before he leaves office.
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Blog
Beam Suntory to pay $8M in FCPA case
Beam Suntory subsidiary Beam India was charged by the SEC with making improper payments to various government officials to obtain or retain business in the Indian market. Beam was fined $8M, but neither admitted nor denied the the allegations.
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Article
When robots report to compliance
Adopting new technologies is critical for any compliance or audit department, but it’s equally important to choose the right technologies and implementations. The experts at CW’s recent innovation summit have some helpful advice.
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Blog
The continuing problem of shell companies
Businesses must conduct more robust background checks and must work to improve their internal controls around all third parties to make sure one does not slip through the corporate cracks and cause great damage.
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Blog
Check your Hermès handbags and bank accounts
The scope of the corruption that befell 1MDB funds continues to widen, with an investigation uncovering a staggering amount of loot from the home of former Prime Minister Najib Razak. For companies doing business in or with Malaysia, now is the time to make sure all operations are free from ...
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Blog
SEC adopts changes to liquidity risk management disclosures
The SEC has finalized amendments to liquidity-related disclosure requirements for certain open-end funds. Under the amendments, funds would discuss in their annual or semi-annual shareholder report the operation and effectiveness of their liquidity risk management programs.
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Article
California is first state to enact a domestic take on EU data protections
Despite the economic clout of the tech sector, California’s state legislators have passed an extensive slate of data privacy rules that take their cue from the EU’s recently enacted General Data Protection Regulation rules.
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Blog
Deutsche Bank fined $205M for ‘unsound’ conduct in Forex trading business
The New York State Department of Financial Services has fined Deutsche Bank $205 million as part of a consent order for violations of New York banking law in its Forex trading business.
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Article
SEC unveils ideas for updating whistleblower program
In an effort to improve its whistleblower program and adapt it to recent Supreme Court demands, the SEC has proposed a slate of amendments to the rules that govern the initiative.
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Article
Bank of England: EU not doing enough to combat Brexit risks to financial services
The Bank of England thinks the United Kingdom has made positive “progress” on handling the risks of disruption to financial services likely to be caused by Brexit, but adds there has been a lack of similar action from the European Union.
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Blog
SEC requires companies to move filings to inline XBRL
The SEC will require companies to integrate their XBRL and static financial statement data into a single filing beginning in 2019 for the largest entities.
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Article
Q&A: Talking export compliance with ManTech
We caught up with Maria Assusa, director of corporate trade compliance at ManTech, to learn more about the company’s trade compliance program, what challenges it’s facing with the current trade sanctions environment, and lessons learned along the way.