All Compliance Week articles in Web Issue – Page 524
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Blog
OFAC fines AIG for insuring Iran, Sudan, and Cuba shipments
American International Group last month agreed to pay the Office of Foreign Assets Control $148,698 to settle potential civil liability for 555 “apparent violations” of the OFAC sanctions program for insuring Iran, Sudan, and Cuba shipments.
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Blog
CDM Smith probe ends in declination with disgorgement
The Fraud Section of the Justice Department’s Criminal Division last month issued its seventh declination under the FCPA Pilot Program, and the second under the Trump Administration. It was also the fourth declination with disgorgement, a developing FCPA enforcement trend.
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Blog
Humana names chief risk officer
Health insurance company Humana has named Sam Deshpande to the newly created position of senior vice president and chief risk officer to oversee development of the company’s Chief Risk Office.
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Blog
Portland General Electric appoints compliance officer
Portland General Electric has appointed Lisa Kaner as PGE’s new general counsel and corporate compliance officer.
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Blog
SEC charges Penn West Petroleum with accounting fraud
The Securities and Exchange Commission has charged a Canadian-based oil and gas company and three of its former top finance executives for their roles in an extensive, multi-year accounting fraud.
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Blog
SEC extends non-public, pre-IPO filings to all companies
The SEC will expand a benefit offered to emerging growth companies and permit all companies to submit draft registration statements relating to initial public offerings for review on a non-public basis.
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Resource
Harnessing data and analytics to transform compliance
This paper sets forth five key areas that CCOs can utilize as they chart a course for more robust, and predictive, D&A capabilities. The viewpoints presented in this paper leverage the experience and insights of KPMG LLP’s (KPMG) compliance professionals and our top-rated D&A practice.
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Blog
Auditors get notice to scrutinize SAB 74 disclosures
Auditors have been notified to be alert to whether corporate SAB 74 disclosures about pending new accounting standards are adequate.
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Blog
Bipartisan legislation seeks to put an end to secret companies
Bipartisan bills introduced this week call for a crackdown on anonymously owned companies created in the United States and stricter disclosure requirements regarding beneficial ownership.
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Blog
Labor Dept. delays compliance date for expanded injury reports
The Labor Department wants to delay the effective date of new electronic reporting requirements for workplace injuries. Also announced: it may rescind a controversial rule regarding overtime pay.
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Blog
A White House win: EPA will rescind 'Waters of the U.S.' rule
Satisfying an Executive Order issued by President Trump, the Environmental Protection Agency and Army Corps of Engineers will rescind the Obama Administration's "Waters of the U.S." rule.
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Blog
Dems: stress tests ‘show Dodd-Frank is working’
Good news from the latest round of big bank stress tests is giving Senate Democrats ammunition as they defend the Dodd-Frank Act against repeal-and-replace efforts.
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Blog
European Commission fines Google €2.42 billion for antitrust violations
The European Union’s antitrust watchdog this week fined Google a record €2.42 billion for breaching EU antitrust rules.
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Blog
RiceBran Technologies names chief accounting officer
RiceBran Technologies, a food and animal feed ingredient company, has appointed Dennis Dykes as chief accounting officer. He reports directly to RBT's Chief Financial Officer Brent Rystrom.
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Blog
Doubt creeps in on ability to adopt lease rules on time
Another new poll says public companies are starting to freak out over how they’ll meet the 2019 effective date to adopt new lease accounting rules.
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Resource
Under one agile umbrella: An approach to managing financial crimes risk
This paper discusses some of the regulatory drivers that are encouraging an integrated approach, the benefits of structural integration, and a road map to embark on this journey.
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Blog
New machine-learning algorithm protects data against insider threats
Imperva recently launched a new algorithm to automatically place individuals and their cross-functional peers into “virtual” working groups based on interactions with enterprise files to identify unusual user access patterns and help protect data against insider threats.
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Article
Former RBS CEO, ‘Fred the Shred’ avoids trial, for the moment
A long-standing shareholder lawsuit against the Royal Bank of Scotland calls out a long-standing history of extremely poor governance at the troubled financial institution.
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Article
Ireland takes baby steps toward protecting whistleblowers
No country has a perfect record when it comes to protecting whistleblowers, but Ireland is trying to take steps in the right direction, even if progress remains uneven.
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Article
Proposed rules would shore up auditing of estimates
Proposed new rules for auditors could lead to more documentation and evidence requests around accounting estimates—or not—depending on how auditors have already adapted.