All Compliance Week articles in Web Issue – Page 670
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Blog
GM Announces Two Executive Appointments
General Motors this week appointed Ann Cathcart Chaplin as deputy general counsel for litigation, effective Dec. 14. She will report to Craig Glidden, executive vice president and general counsel. In addition, Jeffrey Taylor is joining the company, effective Nov. 1, as deputy general counsel for federal oversight. He will ...
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GFT Partners With EDM Council to Help Banks Assess Data Quality
GFT, a business, design and technology consultancy working with the top ten global investment banks, announces their partnership with the Enterprise Data Management (EDM) Council to support firms in the adoption of best practices for data management. Part of the service is the offer of a health check for banks ...
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SEC Rethinks Proxy Exclusions, Takes Pro-Shareholder Approach
The SEC’s Division of Corporation Finance has clarified its application of Rule 14a-8(i)(9), which permits the exclusion of shareholder proposals that conflict with the company’s own proposals. After months of debate, the SEC stopped issuing these no-action letters for the 2015 proxy season while it reviewed the process. Moving ...
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Axway Launches New 'Analytics for Industries' Initiative
Software company Axway this month announced a new initiative to deliver "Analytics for Industries," a combination of analytics powered by Axway Decision Insight and expert best practices, to provide packaged dashboards tailored for specific industry processes, making it faster and easier for operations teams to make data-driven decisions to help ...
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Ideagen Releases Latest Version of Auditing Software Pentana
Ideagen, a supplier of compliance-based information management software, has announced the latest release of its auditing software, Ideagen Pentana. Ideagen Pentana 4.1 brings with it a series of functional enhancements that will help internal audit and risk departments save time, increase efficiency, and maximize the power of collaborative working.
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Ridge Global Partners With NAVEX Global to Address Gaps in Cyber-Security Programs
Ethics and compliance software and services provider NAVEX Global and risk management company Ridge Global recently announced a partnership that will initially focus on delivering online training courseware to help companies educate their workforces on the growing risks associated with cyber-security and arm them with the tools they need to ...
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Social Media: #Compliance Buzz
Trending online are the #Compliance and #Corpgov hashtags that compliance officers and governance practitioners around the world often turn to for emerging trends and latest news. Whether it’s sharing ideas about the ever-changing regulatory landscape or covering industry-related events, both hashtags are known to provide real-time information. This ...
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Wolters Kluwer ELM Solutions Releases Passport GRC Third-Party Risk Monitor Module
Wolters Kluwer ELM Solutions (formerly Datacert and TyMetrix), an Enterprise Legal Management software and services provider, recently release its Passport GRC Third-Party Risk Monitor Module. The new module is an extension of Passport GRC, the company's comprehensive, platform-based framework for managing broad governance, risk, and compliance (GRC) programs. Details inside.
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SEC: First-of-Their-Kind Actions Take the Spotlight in 2015
The Securities and Exchange Commission continued to build a strong record of first-of-their-kind cases that spanned the spectrum of the securities industry, according to the agency’s fiscal year 2015 enforcement report. The SEC filed 807 enforcement actions, obtaining approximately $4.2 billion in disgorgement and penalties—an increase from the 755 enforcement ...
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Chinese Open New Front in Anti-Corruption Investigations
The Chinese fight against bribery and corruption took an interesting twist earlier this month, when it was announced that the former head of the national oil company, Sinopec, was being investigated for bribery and corruption in the securing of contracts in Angola. If this investigation continues it could open a ...
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IASB Sets 2019 Effective Date for Lease Accounting Standard
The International Accounting Standards Board says its updated lease accounting standard will take effect on Jan. 1, 2019, for companies following International Financial Reporting Standards. FASB is expected to issue its lease accounting standard by year’s end. The boards concur on how to define a lease and how leased assets ...
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Britain’s Top Banks Escape Breaking Up; CMA Calls for More Clarity
Britain’s Competition and Markets Authority (CMA) has squashed the idea of breaking up some of the country’s largest banks in an effort to improve competition across the industry. After a thorough review, the CMA found that there’s no direct connection between free accounts and competition. Instead, the competition watchdog ...
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Next Up to Reform Culture: Deutsche Bank
Image: Observers of the financial news might have seen that earlier this week Deutsche Bank reshuffled its senior managers. Observers of the compliance news might want to take note, too. The bank’s new co-CEO has a formidable task in front of him to reform Deutsche Bank’s problem-prone culture, but Compliance ...
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OCC's Focus on Credit Risk Includes Auto Loan Concerns
A side effect of the economic recovery is that credit risk is now "moving to the forefront," says Comptroller of the Currency Thomas Curry. As banks reach for loan growth with less creditworthy borrowers, the resulting risk is prompting increased regulatory scrutiny of auto, home equity, and commercial real ...
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FIFA Misconduct Strikes Again, at German Prestige
Image: The German magazine Der Spiegel is reporting that the committee set up by the German Soccer Federation to bid for the 2006 World Cup hosting rights ran a slush fund of more than 10 million Swiss francs ($11 million) to help secure those hosting rights. Given all that has ...
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PCAOB Issues Crowe Horwath Inspection Report
Image: The PCAOB found fault with five of 14 audits inspected at Crowe Horwath in 2014, a slight improvement for the firm over its 2013 results. The board’s 2014 inspection report revealed an audit deficiency rate of 36 percent, compared with 38 percent in 2013 and 50 percent in 2012. ...
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Irish Data Regulator Probes Facebook’s European Privacy Practices
Image: The investigation by Ireland’s Data Protection Commissioner Helen Dixon into Austrian law student Max Schrems’ privacy complaint will continue in light of the recent decision by the European Court of Justice to invalidate the Safe Harbor program for international data transfers between the United States and the European Union. ...
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Crédit Agricole to Pay $787 Million for Sanctions Violations
Crédit Agricole will pay a total of $787.3 million in criminal and civil financial penalties for economic sanctions violations. Federal and local agencies allege that Crédit Agricole engaged in a series of schemes to process more than $32 billion in U.S. dollar payments through its New York branch from its ...