All Compliance Week articles in Web Issue – Page 687
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Blog
Globestar Industries Names Chief Compliance Officer
Globestar Industries, a company engaged in cannabis industry consulting, has named Christopher Plummer as chief compliance officer. Plummer's appointment comes at a time when the company is in the process of changing its name to Pineapple Express, with the intent to create a nationally branded chain of cannabis retail stores. ...
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Blog
Plan B? Feds Pursue Insider Trading Charges Under SOX
An unusual insider trading prosecution brought under a provision of SOX (rather than Section 10(b) of the Exchange Act) suggests that prosecutors are seeking a "Plan B" in the wake of the Second Circuit's disruptive decision in U.S. v. Newman.
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Blog
Podcast: Conducting Internal Investigations in Europe
Image: In light of increased enforcement activities across Europe, particularly increased enforcement cooperation among foreign jurisdictions and around the world, European corporations are subjected to overlapping and often similar—but not identical—regulatory requirements. In our latest podcast, we talk to Tiffany Moseley, partner in Kaye Scholer’s litigation practice, about internal investigations ...
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Blog
Banks Are Concerned Over New EU Bonus Rules
Image: New EU legislation covering banker pay that will be applied across all member states is causing some rift in the industry. Wim Mijs, chief executive of the European Banking Federation, said the rules may lead to a “heavy administrative burden.” He is calling on the European commissioner responsible for ...
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Blog
Study Shows Better Audit Reports Lead to Better Audits
Expanded audit reports and audit committee reports have led to better audits in the United Kingdom, according to new research, perhaps because expanded reporting has given auditors more leverage over financial statement assertions. The authors of the study said the new U.K. reporting requirements led to better-quality audits, as measured ...
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Article
Don’t Let Bad Culture Short-Circuit Your Training
A compliance training program is only as effective as the corporate culture it stands upon—which means employee cynicism and fear of retaliation need to be addressed first if you ever hope your training program will matter. Inside we look at how CCOs can combat cynicism, even when it takes a ...
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Blog
Holy Orders: Vatican Picks Up Pace in AML Fight
Image: In recent years money laundering has engulfed numerous international institutions, such as the Vatican, which has been roundly criticized by Italian prosecutors for both its failure to carry out appropriate due diligence over its customers and its inability to track suspicious transactions. Those criticisms have led to some dramatic ...
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Article
More Questions, and Evidence, on Undisclosed Control Weaknesses
Image: Fresh data from the PCAOB is raising awkward questions about whether companies and audit firms really are disclosing all the weaknesses in internal control over financial reporting that the Sarbanes-Oxley Act requires. PCAOB board member Jeanette Franzel presented the data in a recent speech that should prompt some soul-searching ...
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Blog
FinCEN Proposes AML Regulations for Investment Advisers
The Treasury Department’s Financial Crimes Enforcement Network is proposing a rule that would require investment advisers to establish anti-money laundering programs, file Currency Transaction Reports, and report suspicious activity. While the Bank Secrecy Act does not expressly include “investment adviser” among its list of entities defined as a financial institution, ...
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Blog
Gleaning Enforcement Insights From Accounting Missteps
A confession from Compliance Week columnist Robert Herz: He spends time each summer reading Accounting & Auditing Enforcement Releases the SEC publishes as part of its enforcement against corporate misconduct. This week, Herz looks over the various AAERs of the last 12 months to pluck out common themes: more enforcement ...
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Article
How Can Compliance Manage Chat Risks? That’s Tough
Image: As the financial sector embraces the speed and efficiency of instant messaging services, compliance officers have a new challenge: how to detect misconduct in real time, not in e-discovery after the fact. Vendors are rushing in with new products; the bad news is that regulators are looking into “chat ...
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Blog
Court Upholds SEC's 'Pay to Play' Rule
The SEC’s 2010 “pay to play” rule , which places limitations on investment advisers whose political contributions could lead to government work, has survived an attempt by Republican groups to brand the requirements as unconstitutional. A recent court decision set aside First Amendment issues and focused on how the ...
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Article
Undermined! Court Ruling Chisels Away at Conflict Minerals Rule
Corporate America has won a bit of a reprieve (emphasis on “a bit”) in conflict minerals compliance, thanks to the Aug. 18 court decision barring the SEC from requiring companies to disclose whether they are conflict mineral-free. But the duty to analyze your supply chain remains and, thankfully, this year’s ...
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Blog
iSpoke Too Soon: Apple CEO in Reg FD Flap
Image: That pesky Regulation Fair Disclosure has ensnared yet another high-profile CEO. This time, it’s Apple’s Tim Cook (left) who could come under SEC scrutiny for over-sharing company information. Pundits on Tuesday were questioning whether the Commission could sanction Cook for e-mailing CNBC host Jim Cramer about sales in China. ...
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Article
Learning Lessons for Principled Performance
Image: In the latest installment of the GRC Illustrated series, OCEG outlines the “learn” component in its GRC Capability Model, where companies learn how to observe change, analyze, update strategies, and respond appropriately to any curveballs thrown their way to achieve principled performance.
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Article
More Cyber-Security Guidelines for Govt Contractors
Image: The Obama Administration is considering new cyber-security guidance that would effectively impose stringent new reporting obligations on government contractors. That means more due diligence on third parties, and a review of contract language to see who is responsible for what. “[E]verybody is going to need to get their cyber-house ...
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Blog
AOL CCO Joins Panasonic North America as General Counsel
Panasonic North America, a subsidiary of Japan-based Panasonic, has named Damien Atkins as general counsel and corporate secretary. He is the company's chief legal advisor and is responsible for providing Panasonic and its North American affiliates with legal and regulatory compliance services. More inside.
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Blog
AMAG Pharmaceuticals Appoints General Counsel and Secretary
AMAG Pharmaceuticals has appointed Joseph Vittiglio as general counsel and secretary. In this position, Vittiglio will oversee all legal affairs of the company. More inside.
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Blog
OncoSec Names Chief Legal and Compliance Officer
OncoSec Medical, a biopharmaceutical company, has promoted Sheela Mohan-Peterson to chief legal and compliance officer, effective Aug. 24. In this role, Mohan-Peterson will advise the company's officers and board of directors on all major legal matters and continue to lead the company's intellectual property portfolio and global legal strategy. More ...
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Resource
e-Book: Leading Practices for Audit Committees
Serving on a corporate audit committee has not been easy for some time now. Required disclosures are likely to increase; the workload in dealing with the external audit firm will increase as well. Without careful attention, your audit fees will go the same way too.To help audit committees—and the corporate ...