All Compliance Week articles in Web Issue – Page 560
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Resource
Harnessing an ethical and compliant culture: Challenges and opportunities
This eBook, sponsored by NAVEX Global, will explore both the challenges and opportunities of today’s ethics and compliance officers, as well as provide data they can use right now in their daily practice.
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Blog
SEC: BlackRock removed whistleblower incentives
Without admitting or denying the findings, asset management BlackRock agreed to pay a $340,000 penalty to settle charges that it improperly used separation agreements in which exiting employees were forced to waive their ability to obtain whistleblower awards. Jaclyn Jaeger reports.
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Blog
GM resolves SEC ignition switch investigation
Without admitting or denying any wrongdoing, General Motors has agreed to pay a $1 million civil penalty to resolve charges that deficient internal accounting controls prevented the company from properly assessing the potential impact on its financial statements of a defective ignition switch found in some vehicles. Jaclyn Jaeger reports.
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Blog
Orthofix to pay $15M for accounting failures and FCPA violations
Medical-device company Orthofix International has agreed to admit wrongdoing and pay more than $14 million to settle SEC charges that it improperly booked revenue in certain instances and made improper payments to doctors at government-owned hospitals in Brazil in order to increase sales. Jaclyn Jaeger reports.
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Blog
Allergan to pay $15M for disclosure failures in wake of hostile takeover bid
Drug company Allergan, headquartered in Dublin, Ireland, has agreed to admit securities law violations and pay a $15 million penalty for disclosure failures in the wake of a hostile takeover bid, the Securities and Exchange Commission announced. Jaclyn Jaeger has more.
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Blog
Chilean chemicals and mining company to pay $30.5M in FCPA case
Chilean chemicals and mining company Sociedad Química y Minera de Chile (SQM) agreed to pay a combined $30.5 million in criminal and civil penalties in connection with payments to politically connected individuals in Chile in violation of the Foreign Corrupt Practices Act. Jaclyn Jaeger has more.
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Blog
Bank regulators back scaling of CECL model for smaller banks
Bank regulators issued a year-end Q&A on new credit loss rules to assure examiners and institutions understand that scaled modeling of loan loss allowances is permitted. Tammy Whitehouse explores.
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Blog
How General Cable’s FCPA mess looks to the past and the future
General Cable’s sprawling FCPA enforcement action seemed to go everywhere at once. Tom Fox explains.
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Article
Muddled Brexit thinking or ‘she’s kidding herself’ thinking?
Facing an exodus of diplomatic talent, the United Kingdom simply won’t have the brainpower and expertise to navigate its numerous post-Brexit challenges, Paul Hodgson writes.
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Blog
Deutsche Bank, Credit Suisse reach combined $12.5B settlements
Deutsche Bank and Credit Suisse last month agreed to pay a combined $12.5 billion in penalties related to the packaging, securitization, marketing, sale, and issuance of residential mortgage-backed securities, whereas Barclays and several of its U.S. affiliates are battling a civil complaint over similar claims. Jaclyn Jaeger reports.
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Blog
McKesson to pay $150M in prescription drug probe
Drug distributor McKesson will pay a record $150 million civil penalty for alleged violations of the Controlled Substances Act, the Justice Department announced today. The settlement also imposes new and enhanced compliance obligations, as well as an independent monitor—the first independent monitor of its kind in a CSA civil penalty ...
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Article
Inditex €585m (U.S.$626M) tax sidestep could have big ripple effects
A massive tax avoidance scheme by a global clothing retailer could promote much tighter corporate tax rules across Europe. Neil Hodge reports.
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Article
Does tax reform mean tax risk for companies with deferred positions?
In the face of tax reform, companies with deferred tax assets on balance sheets could be looking at hits to earnings. But, asks Tammy Whitehouse, is that a risk to disclose to investors?
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Article
Congressional blitzkrieg seeks to downsize regulatory regime
Even before Inauguration Day, the House of Representatives was fast-tracking legislation intended to scale back regulatory rulemaking. Joe Mont reports.
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Blog
Companies get proactive to control audit costs, report says
Companies are mitigating increases in audit fees, and in some cases are even reducing audit costs, using some key tactics outlined in a new report. More from Tammy Whitehouse.
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Article
As SEC broadens international enforcement focus, compliance efforts must adapt
Under Mary Jo White, the SEC greatly expanded its focus on cross-border enforcement, adding risk and compliance challenges for companies wherever they are based. Joe Mont reports.
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Blog
Rolls-Royce responds to $800M global resolution in FCPA case
British engineering company Rolls-Royce has agreed to pay the United States nearly $170 million as part of an $800 million global resolution with U.S., U.K., and Brazilian authorities into a long-running bribery scheme. Jaclyn Jaeger reports.
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Article
SEC oversight in the Digital Age
Big Data is the compliance buzzword of the day, but at the SEC, high technology is both a challenge and an opportunity. Jaclyn Jaeger has more.
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Article
Debating ‘anything of value’ under the FCPA
Are U.S. enforcement agencies interpreting the term “anything of value” under the FCPA too broadly? Jaclyn Jaeger explores both sides of the debate.
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Blog
In final speech, Chair White reflects on an SEC under attack
In what may be her final public remarks as SEC chairman, Mary Jo White said that political gamesmanship and current legislative climate could erode the agency’s independence and “cripple” enforcement efforts. Joe Mont has more.