Regulation & Compliance: Page
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Detroit Riverfront Conservancy’s former CFO charged with bank, wire fraud
A complete failure of financial controls resulted in the former CFO’s 11-year defrauding of the Detroit nonprofit.
By Andy Burt • June 20, 2024 -
"U.S. Securities and Exchange Commission headquarters in Washington, D.C., near Union Station" by AgnosticPreachersKid is licensed under CC BY 3.0
SEC fines Synchronoss’ former CFO Karen Rosenberger $125K due to accounting misconduct
Six other Syncrhonoss employees also received various civil penalties, while the former CEO had to reimburse the company $1.3 million in stock sale profits and bonuses.
By Andy Burt • June 18, 2024 -
Courtesy of Chemours
Chemours names Shane Hostetter as new CFO following executives’ code of ethics violations
Hostetter takes over as finance chief as the company looks to move on from code of ethics violations by its CEO, CFO and principal accounting officer stemming from Q4 of last year.
By Andy Burt • June 7, 2024 -
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Detroit Riverfront Conservancy CFO fired over $40M missing from nonprofit
Despite the conservancy’s record revenue in 2022, mainly derived from grant money and donations, an apparent cash shortfall triggered an independent forensic audit, which was later handed off to the FBI.
By Andy Burt • June 4, 2024 -
Kate Tornone/CFO.com
Employers should include workers in AI plans, DOL says
The agency outlined a list of eight “AI Principles for Developers and Employers” on Thursday, following up on a 2023 directive from the White House.
By Ryan Golden • May 16, 2024 -
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Detroit CFO on leave pending financial wrongdoing criminal investigation; case referred to FBI
Detroit Riverfront Conservancy chair Matt Cullen announced that the criminal investigation, originally taken up by the Michigan State Police, would be turned over to the FBI due to the “nature and complexity” of the case.
By Andy Burt • Updated May 21, 2024 -
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FTC to ban noncompetes
The FTC said the rule, expected to take effect as soon as late August, received overwhelming public support during a comment period.
By Ryan Golden • April 23, 2024 -
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CFO crimes, litigation, financial control failures, ethics violations and more
A collection of stories on CFOs who are in litigation, have failed to adhere to the law or failed ethics class.
By CFO Editorial Staff • Updated Aug. 19, 2026 -
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PCAOB Hits KPMG Netherlands, Deloitte Affiliates With Exam Cheating Penalties
The civil penalties levied by the PCAOB reflect “egregious” widespread cheating on internal examinations required to maintain a CPA license.
By Andy Burt • April 11, 2024 -
CFO Editorial Staff
Withum, Baker Tilly, and Grant Thornton Among Mid-Tier Audit Firms Under PCAOB’s Radar in Q1
“Sweeps are a valuable tool in our enforcement toolbox to ensure there are consequences for putting investors at risk,” said PCAOB Chair Erica Williams.
By Adam Zaki • March 21, 2024 -
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Crypto Fraud Losses Rose to $3.9B in 2023, a 53% YoY Increase: FBI
SEC enforcement actions against cryptocurrency players were up last year, but the commission is under attack for not issuing new rules for the industry.
By Vincent Ryan • March 20, 2024 -
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3 Steps CFOs Must Take to Prepare for the New Merger Guidelines
These proactive steps help CFOs stay competitive in the shifting M&A regulatory environment.
By Mitch Berlin • March 12, 2024 -
Courtesy of Chemours
Chemours CFO, CEO, Controller Violated Company Code of Ethics
An anonymous hotline tip led the company to investigate what it found to be a failure of the “promot[ion of] full, fair, accurate, timely and understandable disclosure.”
By Andy Burt • March 8, 2024 -
"U.S. Securities and Exchange Commission headquarters in Washington, D.C., near Union Station" by AgnosticPreachersKid is licensed under CC BY 3.0
SEC Adopts Climate-Related Disclosure Rules for Public Companies, Public Offerings
The new rules equip investors to “decide which risks they want to take so long as companies raising money from the public make ... complete and truthful disclosure,” SEC Chair Gary Gensler said.
By Andy Burt • March 6, 2024 -
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Former Long Island School CFO on Trial For Stealing $8.4M
The ex-CFO used the funds to afford a “lavish lifestyle,” according to the Suffolk County ADA Jessica Lightstone.
By Adam Zaki • March 1, 2024 -
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SEC Accountant Calls on Auditors to Exercise More Skepticism
Management teams “may be under pressure to meet earnings expectations in the face of declining revenue or increases in costs,” said the SEC’s Paul Munter.
By Vincent Ryan • Feb. 6, 2024 -
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Feds, Employers Spar in Court as Independent Contractor Changes Loom
Business groups have asked the court to remove its stay on a suit challenging the Biden administration’s withdrawal of a Trump-era independent contractor rule.
By Ryan Golden • Jan. 25, 2024 -
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DOL Rule That Could Curtail ‘Gig’ Work Nears Finish Line
Many industries that rely heavily on independent contractors say their workers prefer the flexibility and autonomy the business model offers.
By Vincent Ryan • Jan. 9, 2024 -
"U.S. Securities and Exchange Commission headquarters in Washington, D.C., near Union Station" by AgnosticPreachersKid is licensed under CC BY 3.0
SEC’s Cyber Compliance Rules Balance Threats, Disclosure Concerns
“Public companies have the flexibility to decide how to address cybersecurity risks and threats ... Investors have indicated, however, that they need consistent and comparable disclosures in order to evaluate how successfully public companies are doing so,” the SEC’s Erik Gerding said.
By David Jones • Dec. 20, 2023 -
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DOJ, FTC Detail Aggressive Antitrust Enforcement
White House economist Lael Brainard said the guidelines were “an important step to lower costs for consumers ... and ensure antitrust enforcement is fit for purpose in today’s economy.”
By Vincent Ryan • Dec. 19, 2023 -
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EU Sustainability Reporting: Multinationals Tackle a Compliance Monster
Early challenges in sustainability reporting involve people, data, and questions of materiality, say executives from Cummins, Dell, and Mondelēz.
By Vincent Ryan • Dec. 15, 2023 -
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SEC Brought 91 Cases Against Companies in FY ‘23
Faulty issuer reporting and disclosures remained the most prevalent allegation type, accounting for 45% of all actions filed in fiscal year 2023.
By Vincent Ryan • Dec. 13, 2023 -
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Madoff Investigator On Fraud: ‘Never Let Your Guard Down’
Fifteen years after Bernie Madoff's arrest, the SEC's failure to spot his Ponzi scheme still holds lessons for CFOs.
By Vincent Ryan • Dec. 12, 2023 -
"U.S. Securities and Exchange Commission headquarters in Washington, D.C., near Union Station" by AgnosticPreachersKid is licensed under CC BY 3.0
Aligning SEC, Existing Clawback Policies
Companies with existing clawback policies can help ensure it doesn’t conflict with the mandatory 2024 SEC policy by using tiebreakers.
By Robert Freedman • Dec. 12, 2023 -
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Republican AGs Back Lawsuit Challenging Nasdaq Diversity Rules
Nasdaq first proposed new listing rules that required companies to publicly disclose diversity statistics regarding their boards of directors in 2020.
By Ryan Golden • Dec. 4, 2023
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