Regulation & Compliance: Page 21
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xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
SEC Keeps up High Rate of Enforcement Activity
U.S. Securities and Exchange Commission enforcement activity continued at a strong pace during the first half of fiscal 2017 despite the uncertainty hanging over the agency since President Donald Trump took office.Between Oct. 1 and March 31, the SEC filed 334 total enforcement actions, compared ...
By Matthew Heller • April 21, 2017 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
SEC Alleges Insider Trading on Telecom Deal
One or more unknown traders made more than $1 million in illicit profits by trading in General Communication Inc. call option contracts in advance of its acquisition by Liberty Interactive, the U.S. Securities and Exchange Commission has alleged.The identity of the traders was not disclosed in a ...
By Matthew Heller • April 14, 2017 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Raymond James to Pay $150M Over Resort Fraud
Raymond James has agreed to pay $150 million to settle allegations that it helped the owner and president of a failed Vermont ski resort misuse hundreds of millions of dollars raised through the federal EB-5 Immigrant Investor Visa Program.The case of the Jay Peak resort is the largest EB-5 fraud...
By Matthew Heller • April 14, 2017 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Two Accused of Insider Trading on Mobileye Deal
In the second insider trading case arising from the $15.3 billion takeover of Mobileye NV by Intel, two Virginia men have been charged with making $925,000 in illicit profits based on nonpublic information about the pending deal.The U.S. Securities and Exchanges Commission accused Lawrence Cluff ...
By Matthew Heller • April 7, 2017 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
KPIs: The Key to Corporate Compliance
While some industries, particularly those that are intensely regulated, have well-developed risk and compliance functions, the newly released Justice Department guidance, “Evaluation of Corporate Compliance Programs,” is essential reading for all businesses. Specifically, the guidance focuses on ...
By Steven Neuman • April 4, 2017 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
How Analytics Is Helping to Curb Insurance Losses
When it comes to risk management, CFOs are in a bind: They’re expected to aggressively tackle serious business risks – while spending reluctantly. You sometimes feel damned if you do and damned if you don’t.Addressing glaring risks is easy. Quietly simmering risks, however, are also likely to dis...
By Gary Love • April 3, 2017 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
When One Insurance Claim Is Better than Many
“Copycat” lawsuits are a common problem for corporations. For example, multiple lawsuits often are filed after the price of a company’s stock drops, each claiming that alleged misconduct or neglect of management contributed to the loss.When they’re faced with multiple claims or lawsuits that seem...
By Eric Jesse and Catherine Serafin • April 3, 2017 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Disaster Losses Hit Five-Year High of $175B
Total economic losses from natural catastrophes and man-made disasters nearly doubled in 2016, with Asia being hit worst, while insurance payouts increased 42% from a year earlier, according to a report by Swiss Re.Globally, there were 327 disaster events in 2016, the reinsurer said, resulting in...
By Matthew Heller • March 29, 2017 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Neiman Agrees to Pay $1.6M Over Data Breach
After three years of litigation, Neiman Marcus has agreed to pay $1.6 million to settle a class action over a security breach that exposed the credit card information of about 350,000 customers.Settlement papers were filed with a federal judge Friday in a case that alleged Neiman was liable for t...
By Matthew Heller • March 21, 2017 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
ZTE Fined $900M for Iran Sanctions Busting
Chinese telecom equipment maker ZTE Corp. has agreed to pay nearly $900 million to settle U.S. allegations that it evaded sanctions against Iran by shipping about $32 million of sensitive U.S.-made technology to the country.ZTE purchases about $2.6 billion worth of components a year from U.S. fir...
By Matthew Heller • March 8, 2017 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Dodd-Frank: Benefits Among the Burdens
It’s well known that repealing or replacing the Dodd-Frank Act is a top priority on the new presidential administration’s regulatory “to-do” list. But even though the law’s ultimate fate is uncertain, the need to comply with its requirements led financial institutions to make changes in their tec...
By Mallinath Sengupta • March 7, 2017 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
How CFOs Can Strengthen Technology Controls
The Committee of Sponsoring Organizations of the Treadway Commission, better known as COSO, is akin to the high priests of internal controls. In 2013, COSO updated their Internal Control Integrated Framework to put an emphasis on technology controls. Since data breaches suggest weak controls, CFO...
By Craig Callé • March 6, 2017 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Labor Dept. Seeks Delay in ‘Fiduciary’ Rule
The Labor Department is proposing a 60-day delay in implementation of an Obama-era rule on retirement advisers so it can have more time to evaluate whether it harms consumers by limiting their investment options.President Trump had asked the department to review the so-called fiduciary rule, whic...
By Matthew Heller • March 3, 2017 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Traders’ Assets Frozen in Insider Trading Probe
The U.S. Securities and Exchange Commission has frozen the assets of traders it believes were involved in an insider trading scheme that made $3.6 million in illegal profits related to the recent takeover of Fortress Investment Group by Japan’s SoftBank Group.A New Jersey judge granted the SEC’s ...
By Matthew Heller • March 2, 2017 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Should U.S. CFOs Worry About EU Cyber Risk Rules?
CFOs around the world have one more risk to fold into their financial planning strategies. The European Union General Data Protection Regulation (EU GDPR), set to come into effect on May 25, 2018, will apply to every organization of every size, industry, and geography that processes data from EU ...
By Kevin P. Kalinich • Feb. 10, 2017 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Court Blocks Another Healthcare Megamerger
A federal judge has ruled that Anthem’s proposed $54 billion takeover of Cigna would be anticompetitive — the second time in three weeks that a court has blocked a healthcare industry megamerger.Judge Amy Berman Jackson of the U.S. District Court for the District of Columbia said the Justice Depa...
By Matthew Heller • Feb. 9, 2017 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Special Report: Preventing Cybersecurity Losses
When finance chiefs ask their teams what they’re doing to protect their employers from cyberattacks, they inevitably get answers involving “IT-specific concerns like malware, firewalls, and virus scans,” writes FM Global CFO Kevin Ingram in our special report on preventing cybersecurity.But preve...
By David Katz • Feb. 9, 2017 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Cyber Risks Threaten Physical Security, Industrial Controls
“What are we doing to protect ourselves from cyberattacks?”It’s a question every CFO eventually asks their team.Although the question suggests IT-specific concerns like malware, firewalls, and virus scans, CFOs need to pause and broaden their perspective, examine cyber-related business risk in th...
By Kevin Ingram • Feb. 9, 2017 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Lessons Learned from the Dyn Attack
This past October, Halloween wasn’t the only event that spooked people. A well-executed cyberattack left users of Twitter, Spotify, Paypal, Airbnb, Etsy, and Netflix vulnerable to identity theft. The crime was done to Dyn, a cloud-based company that manages website domains and routes internet tra...
By Christopher Roach • Feb. 9, 2017 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
The Corporatization of Cyber Crime
“It’s beautiful, it’s elegant, it’s convincing,” Markus Jakobsson gushes, describing the fake email used to hack into the personal Gmail account of Hillary Clinton’s presidential campaign chairman.Sent on March 19, 2016, to the chairman, John Podesta, the email landed in the spam folder of his ac...
By David Katz • Feb. 9, 2017 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Vizio Fined $2M Over Data Collection From TVs
Vizio has agreed to pay $2.2 million to settle charges it installed software on its “smart” televisions to collect data on the viewing habits of millions of consumers without their consent.The Federal Trade Commission and the New Jersey attorney general said the software enables Vizio televisions...
By Matthew Heller • Feb. 6, 2017 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Class-Action Filings Hit Record in U.S. Courts
The number of federal securities class-action filings surged to a record high in 2016 as plaintiffs’ lawyers turned to the federal courts to file suits over merger and acquisition deals.Class-action filings totaled 270, an increase of 43% on the 188 filings in 2015 and 44% above the 1997–2015 his...
By Matthew Heller • Jan. 31, 2017 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
The Financial Case for a Data Privacy Program
The urgency for corporations to establish a mature data privacy and security program is driven by three key factors: avoiding expensive fines for non-compliance, reducing the overall cost of data storage, and maximizing productivity.Heidi Maher Data privacyThe total volume of information around t...
By Heidi Maher • Jan. 24, 2017 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Partner With Outside Counsel to Drive Value
When it comes to managing outside counsel, the CFO is usually concerned with the cost of outside counsel and the general counsel (GC) is responsible for finding a way to manage legal strategy within an often shrinking budget. The increased use of alternative fee arrangements (AFAs), however, pres...
By Adam Chud and Meagan Costello • Jan. 23, 2017 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Western Union Fined $585M for Aiding Scams
Money services giant Western Union has agreed to forfeit a record $586 million to settle charges that it facilitated fraud by failing to properly enforce its anti-money laundering systems, resulting in the processing of “hundreds of millions of dollars” in illegal transactions.U.S. authorities sa...
By Matthew Heller • Jan. 20, 2017
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