All Compliance Week articles in Web Issue – Page 691
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Blog
Ex-SAP Executive Pleads to FCPA Charges
The Justice Department and SEC jointly announced an enforcement action on Wednesday against a former executive of SAP International for violations of the Foreign Corrupt Practices Act by bribing officials in Panama to win government contracts. Vicente Eduardo Garcia, 65, will pay damages totalling $92,300 and faces sentencing later this ...
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U.K. Financial Regulator Explains the New Accountability Rules
Image: The Financial Conduct Authority released “near final rules” which shows how it will apply the new accountability regimes that hold employees accountable for misconduct in U.K. branches of overseas banks. These rules further explain the FCA’s accountability reform announcement last month that zeroes in on top executives at U.K. ...
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Huntington Ingalls Industries Names Chief Accounting Officer
Huntington Ingalls Industries, a military shipbuilding company, has promoted Nicolas Schuck to the position of controller and chief accounting officer, effectively immediately. More inside.
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Former Cigna Chief Compliance Officer Joins Voya Financial
Voya Financial announced this week that it has appointed Trish Walsh as chief legal officer, effective Sept. 14. In this role, Walsh will oversee all aspects of Voya's law, compliance and external affairs department, serving as an advisor to senior management and the board of directors on legal, compliance, securities ...
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DVR Alert: Showtime's Wall Street Drama 'Billions' Debuts January 17
I'm always up for watching some insider trading drama, and Showtime will attempt to deliver some on January 17, 2016 when it debuts its new Wall Street drama series, "Billions."
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The Current State of the U.K.’s Serious Fraud Office
Image: Britain’s Serious Fraud Office appears to be under intense pressure, amid the announcement that another part of the government, led by International Development Secretary Justine Greening, is launching a new specialized anti-corruption unit to investigate cases of international corruption affecting developing countries. While the SFO achieved a significant victory ...
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St. Joseph's Healthcare System Names Chief Compliance Officer
St. Joseph’s Healthcare System has appointed Theodore Brown as chief compliance officer. In this role, Brown leads the corporate compliance department and is responsible for assessing organizational risk for misconduct and noncompliance, establishing objectives for compliance, and implementing initiatives to foster a culture of compliance throughout the organization. Details inside.
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Standard Chartered Bolsters Its Financial Crime Unit Amid Regulatory Trouble
Standard Chartered is adding more staff to its financial crimes team, following a probe by U.S. regulators for an alleged breach in sanctions laws that resulted in a $400 million fine in 2012. In its first-half results announced last week, the bank said, “There is a range of potential penalties ...
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Grant Thornton Grows Financial Services Advisory Practice
Paul Makowski has joined Grant Thornton as a managing director in the firm’s national Financial Services Advisory practice. Most recently, Makowski served as interim chief risk officer for the Mortgage division of BB&T. Details inside.
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SCCE Announces 2015 Award Winners
The Society of Corporate Compliance and Ethics has announced the winners of its annual achievement awards, to be honored in October at its annual conference. Winners range from FCPA bloggers to building products companies. More inside.
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Aguilar Sounds Off on CCO Liability Again
Image: More shots fired this week in the continuing war of words at the SEC about whether the agency is unfairly taking enforcement action against chief compliance officers. This time, Commissioner Luis Aguilar defended the agency with a statement calling for the SEC to be more clear in its enforcement ...
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Internal Control Audits Improving, to a Point
Image: Audits of internal control over financial reporting are starting to improve, but it’s still too early to say if audit practice has turned the corner as fully as regulators want, according to PCAOB Member Jeanette Franzel. Franzel said internal control over financial reporting continues to be the most frequent ...
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New U.K. Crime Unit to Investigate Corruption Affecting Developing Countries
Image: The U.K.’s Department for International Development is stepping up its efforts to investigate cases of international corruption affecting developing countries through a new specialist unit launched by International Development Secretary Justine Greening. “Through the international corruption unit, the best of British law enforcement will step up our aid work ...
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ProcessUnity Enhances Cloud-based Apps for GRC Management
ProcessUnity, a provider of cloud-based applications for governance, risk and compliance management, recently announced the unveiling of new features and enhancements across 24 key application areas—all designed to expand data access, eliminate manual processes, and ensure overall program and user effectiveness. Details inside.
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Article
CCOs Playing a Stronger Role in Data Privacy Practices
Image: As data privacy laws proliferate, they are creating a web that traps how corporations use personal data in their operations. The challenge for compliance officers: how to play a more strategic role and ensure your business doesn’t get stuck. “The inclusion of the CCO function in defining controls related ...
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The Man From FCPA Arrives
Today, I begin a blogging series for Compliance Week as The Man From FCPA. Our goal is to provide you with up-to-date information on all things related to the Foreign Corrupt Practices Act and anti-corruption overall. I will cover FCPA issues that have a U.S.-centric focus, and also other anti-corruption ...
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Article
Final Pay Ratio Rule Gives a Few Compliance Breaks
Image: Some good news now that the SEC’s much-maligned pay ratio disclosure rule is here: Companies forced to disclose that comparison of CEO compensation to pay of the median employee might find the final rule less onerous than the original proposal from 2013. “The biggest surprise is that the SEC ...
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FAQs, but Few Answers, on Iran Deal Implications
Image: Questions abound on the U.S.-Iran nuclear deal. Assuming the agreement comes into force, what does that mean for compliance officers? Nothing easy, as your sanctions effort must shift to more complex due diligence efforts. “The sanctions world is moving from an entity-based inquiry to an entity- and activity-based inquiry. ...
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Rotation Capital Names Chief Compliance Officer
Rotation Capital, an SEC-registered alternative asset management firm, has appointed Marshall Terry as chief compliance officer. Terry also has been appointed a managing director and chief operating officer. Details inside.
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DASH Financial Appoints Chief Compliance Officer
DASH Financial, an institutional agency broker-dealer, has appointed Erin Preston as chief compliance officer. Preston will be responsible for DASH's compliance strategy and will be a key stakeholder in the execution of the firm's business strategy as in--house counsel. Details inside.