All Compliance Week articles in Web Issue – Page 511
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Blog
SEC names director of DERA
The Securities and Exchange Commission has named Jeffrey Harris as director of the agency's Division of Economic and Risk Analysis (DERA). He replaces former director Mark Flannery, who left the agency to return to teaching.
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Blog
Chairman Clayton names executive staff
The Securities and Exchange Commission has named seven individuals to the executive staff of Chairman Jay Clayton.
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Blog
Nordson general counsel and secretary to retire
Nordson Corporation, an industrial equipment supplier, announced that vice president, general counsel and secretary Robert Veillette will retire from the company after 32 years of service, effective Dec. 31, 2017.
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Blog
SEC’s requirement for hyperlinks in filings now in effect
As of Sept. 1, rule and form amendments requiring hyperlinks are in effect. The changes were put in place by the SEC to make it easier for investors and other market participants to find and access exhibits in registration statements and periodic reports.
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Blog
Judge kills Obama administration's overtime rule
Judge Amos Mazzant of the Eastern District of Texas has invalidated the Obama administration’s controversial rules regarding overtime pay. The Labor Department was already considering a reproposal prior to the decision.
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Blog
SeaWorld, Mueller, and Congress
In case you missed it this week, Mueller sidles up to a new lawyer involved in Paul Manafort's probe, politicians are eyeing a particular bribery-related trial, and SeaWorld get's a criminal investigation
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Blog
MTS Systems: FCPA probes close with no action
MTS Systems, a global supplier of test systems and sensing solutions, said in a quarterly filing this month that it will not be facing an enforcement action regarding a previously disclosed investigation into potential violations of the Foreign Corrupt Practices Act.
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Blog
Wells Fargo boosts number of unauthorized accounts to 3.5M
A review commissioned by Wells Fargo has increased the number of falsified accounts at the bank from 2.1 million to nearly 3.5 million. Last year, the CFPB fined the bank for the “widespread illegal practice of secretly opening unauthorized deposit and credit card accounts.”
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PCAOB sees some improvement, yet room for more
Based on its latest round of audit inspections in 2017, the PCAOB found some improvement at some firms, but still plenty of work to do to meet standards.
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Blog
Sen. Duckworth wants FBI investigation on former Trump adviser Carl Icahn
Sen. Tammy Duckworth (D-Ill.) is asking the FBI to launch an investigation into "potential violations of federal law" by Carl Icahn, a billionaire investor and former adviser to President Trump on regulatory matters. Icahn is accused of conflicts of interest connected to that advisory role.
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Blog
CFTC fills vacancies with new commissioner, chief economist
Earlier this month, Brian Quintenz was officially sworn in to serve as a commissioner on the Commodity Futures Trading Commission. Joining him will be Bruce Tuckman, an internationally-recognized economist and expert in modern derivatives markets, as the agency’s chief economist.
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Hensarling: CFPB director speeding through rules to fuel political ambitions
Jeb Hensarling (R-Texas), chairman of the House Financial Services Committee, is escalating attacks on CFPB Director Richard Cordray. In a letter this week, he accuses Cordray of rushing to finalize payday loan regulations to suit his political ambitions and a potential run for governor in Ohio.
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FTC’s speedy approval of Amazon/Whole Foods deal draws scrutiny
Sen. Amy Klobuchar (D-Minn.) is questioning the speed of the FTC’s review and approval of Amazon's blockbuster acquisition of Whole Foods. “I am concerned about the decision not to fully review [the deal],” she says.
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Blog
Yellen pushes back on deregulation with rousing defense of post-crisis rules
Amid the current political hunger for deregulation, Janet Yellen, chairman of the Board of Governors of the Federal Reserve, recently delivered an impassioned defense of the current regulatory environment. Don’t drop the ball now, she warned.
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Blog
Hurricane Harvey spurs regulatory relief, assistance for banks
Federal and state bank regulators have issued guidance for institutions in Texas suffering from the devastating effects of Hurricane Harvey. The advisory addresses temporary branches, loan modifications, and leniency regarding regulatory obligations and compliance deadlines.
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Article
The law is taking a bite out of the Gig Economy
A spate of recent court decisions underscores the ongoing erosion of the Gig Economy’s model of independent contractors free from benefits, protections, or obligations.
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Article
A step-by-step guide to getting a money transmitter license in California
Money transmitters must be licensed in virtually every state in the U.S. Here is a handy checklist to ensure you are in compliance with California’s licensing requirements.
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Article
Good controls are good business
A recent SEC case highlights five key ways in which strict compliance procedures still pay off for brokerage firms when it comes to detecting and preventing fraud.
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Article
Pushback rises on disclosure of auditor, audit committee talks
Despite calls for transparency around the interaction between audit committees and auditors, angst runs deep about giving investors visibility into that dialogue.
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Article
Operation Choke Point finally suffocated by Justice Department
A controversial government initiative that pushed banks to de-risk themselves from a variety of legal business is now a thing of the past. Or is it?