News

Freudian Slip-Up Leads to SEC Charges

cco liability

Well this is crazy: the SEC busted a Seattle-area therapist today for insider trading based on information he picked up while in session with one of his patients. According to an SEC complaint filed today, Keith Peer, 43, had a patient in 2015 who was an employee at Zulily, an online retailer. Zulily was in…

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SEC Replaces PCAOB Leadership

PCAOB

The SEC replaced the entire board of the Public Company Accounting Oversight Commission today—an expected, but still sweeping, shakeup that portends significant changes in how auditing is done. The new chairman is William Duhnke, whose name has been predicted for awhile now. Duhnke is a lawyer by trade and spent most of his recent career…

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At What Cost Dishonesty? For VW Exec, Seven Years

VW

Last week a federal judge in Michigan sentenced Volkswagen’s former head of environmental compliance in the United States, Oliver Schmidt, to seven years in prison for his role in VW’s emissions cheating scandal. That’s a tough sentence for a compliance officer. And Schmidt deserved every day of it. As far as the compliance community should…

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Compliance Jobs Report: Dec. 8

compliance jobs

The Compliance Jobs Report this week starts with intriguing jobs news: the FBI needs an assistant director in its Office of Integrity. We also have compliance personnel news at Rabobank, Columbia Sportswear, Standard Chartered, Medtronic, Kimberly-Clark, and a bundle of other places. Plus a few GRC vendors seem to be on an acquisition spree. Read…

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A Word From SEC on Accountability

This week the AICPA is holding its annual conference on Current SEC and PCAOB developments. This is the big industry event for financial reporting and compliance professionals. And, thankfully, we also have a great speech from one SEC official on the importance of ethics and accountability.  The official in question is Ryan Wolfe, senior associate chief…

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Compliance Jobs Report: Dec. 1

Compliance jobs

This week’s Compliance Jobs Report: we have new compliance chiefs at Walgreens, Rakuten USA, CurrencyCloud, National Holdings, and elsewhere. We also salute two long-time public servants who will probably make a boatload more money in the private sector, an interesting job opening in Florida, and important news about the SEC chairman. Read on… I gather…

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DOJ Expands FCPA Pilot Program

fcpa

The Justice Department is going to expand the benefits of the FCPA Pilot Program and make those benefits permanent policy, in a sweeping gesture to entice more corporations to confess possible FCPA violations and then cooperate in investigating them. Most important detail: from now on, if your company discloses an FCPA violation and meets the…

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Compliance Jobs Report: Nov. 24

compliance jobs

No Thanksgiving slowdown for the Compliance Jobs Report! This week we have compliance officer moves at GIACT, Fidelity International, PHH Corp., Ally Financial, and many more. Ethix360 has hired its own compliance officer too, and a few awards and honors given out to compliance officers in northern Virginia. That, and job posts too. Read on……

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CCO Compensation Data!

CCO compensation

Just in time for performance reviews, the Society of Corporate Compliance & Ethics has published a comprehensive report on compliance officer pay, which estimates CCO compensation anywhere from $135,000 to $300,000, depending the size of your organization. The report doesn’t offer a single compensation number for the “average” chief compliance officer across all industries and…

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Vendor Risk: Where We Need Work

Protiviti and the Shared Assessments Program are out with a new report on vendor risk management. Compliance officers talking with your board lately about those efforts may want to give it a close read. The most visible point in the report is that businesses are improving at vendor risk management. That’s a good thing, since…

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