All Compliance Week articles in Web Issue – Page 700
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Blog
The Overlooked Lessons of PetroTiger Trial
The corruption trials against three former executives of PetroTiger ended with a whimper in June, when the last defendant pled guilty to FCPA violations. Contrary to what many say, however, the PetroTiger case offered some valuable—and good—news for compliance officers. This week, columnist Tom Fox reviews how the company avoided ...
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Blog
Appeals Court Opinion Sheds Light on Excluding Proxy Proposals
A newly released opinion from a federal appeals court sheds light on why Walmart was allowed to reject a shareholder proposal calling for a board review of its policies regarding the sale of high-capacity firearms. The opinion could provide a blueprint for future courts weighing in on the SEC’s traditional ...
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Blog
EU Regulator Charges MasterCard Amid Breach of Antitrust Rules
Image: MasterCard is once again in the spotlight, as the European Commission has swooped in on the company’s potential abuse of interchange fees. After a two-year investigation, Competition Commissioner Margrethe Vestager said, “MasterCard is artificially raising the costs of card payments, which would harm consumers and retailers in the European ...
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Blog
New Zealand to Extend AML Efforts
In a keynote speech today at the Asia Pacific Group on Money Laundering in Auckland, New Zealand's Justice Minister Amy Adams said the government has begun preliminary work to extend anti-money laundering compliance obligations on more professions and companies, including lawyers, accountants, and businesses that deal in high-value goods, subjecting ...
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Event
The 2015 Interagency Minority Depository Institution and CDFI Bank Conference
400 7th St SWWashington, DC 20219United States
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Blog
‘The U.K. Bribery Act After Five Years — Where Are We Now?’
On the eve of the anniversary of the U.K. Bribery Act of 2010, CW columnist Bruce Carton hosted a panel of U.K. experts to address where the SFO stands in its enforcement and prosecution of the Bribery Act, as well as other key issues such as the introduction of deferred ...
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Blog
Fed to Santander: Overhaul Your Governance Practices
The Federal Reserve Board this week levied an enforcement action against Santander, ordering it to overhaul its governance practices in several areas, including board oversight, risk management, capital planning, and liquidity risk management. No financial penalties were issued. Details inside.
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Blog
Mary Schapiro Joins CAQ Governing Board
Mary Schapiro, former chairman of the U.S. Securities and Exchange Commission, has joined the Center for Audit Quality's Governing Board. Schapiro will serve as one of three independent Governing Board members who come from outside the public company auditing profession. Details inside.
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Blog
New Data Analysis Tool for OTC Contracts Launched
Deloitte recently announced an alliance with Recommind, an information intelligence provider, to deliver a managed service to investment banks, transforming the way over-the-counter International Swaps and Derivatives Association (ISDA) agreements are managed. "Working with Recommind will allow us to improve the way our customers’ OTC Derivatives Contracts are managed, speeding ...
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Blog
The Phoenix Companies Names Chief Risk Officer
The Phoenix Companies, a financial services company, has named Gina O'Connell as chief risk officer. She will succeed Mark Griffin, who is resigning from the company effective July 17. Details inside.
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Blog
Canada AML Study Finds Compliance Gaps
A first-of-its-kind survey on Canadian compliance professionals conducted by Grant Thornton finds significant weaknesses in the AML compliance practices of Canadian companies. Among the findings: many compliance staff are not consistently visiting their overseas locations and rarely tailor their AML training programs to the specific needs of different groups, particularly ...
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Blog
The Return of 'Decimal Dust' and the SEC Penalties Act
Three years later, Sen. Chuck Grassley is re-introducing the SEC Penalties Act of 2012 -- and dusting off some old quotes.
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Blog
FASB Approves One-Year Deferral for Revenue Recognition
As long expected, FASB has approved a one-year deferral of the effective date of the new standard on revenue recognition, pushing the adoption requirement out to 2018. The board will also allow companies to adopt the standard as of the original effective date, January 2017, if they are inclined to ...
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Resource
e-Book: Corporate Policy Management: What You Don’t Know Can Hurt You
Policy management is still a maturing business practice and, for many compliance officers, finding the right approach to policy management remains tricky. This e-Book, produced by Compliance Week in cooperation with NAVEX Global, explores the current state of policy management.We begin with “When Policy and Culture Collide,” a look at ...
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Blog
Sen. Warren and 'Liberal Allies' Derail Planned SEC Nomination
Sen. Elizabeth Warren and activist groups with which she is aligned have reportedly derailed President Obama's plan to nominate a corporate lawyer for a soon-to-be open Democratic seat on the Commission.
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Blog
Deloitte Survey Shows Audit Stakeholders Want More From Audit
Image: A Deloitte survey shows that a big majority want to see auditors providing assurance on more than just financial statements, and they want to see auditors making better use of technology. “Many investors are looking for broader and deeper insights that can help them make smarter, more informed decisions,” ...
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Blog
Another Push Afoot to Resurrect Glass-Steagall Act,
Image: Sen. Elizabeth Warren (D-Mass.) has once again teamed up with Sen. John McCain (R-Ariz.) and Angus King (I-Maine) to file legislation to restore and modernize the Glass-Steagall Act, separating traditional banks that hold federally insured savings accounts from financial institutions that offer higher-risk services. Details inside.