News

FCPA Issues Nick Microsoft $25M

Microsoft has agreed to pay $25.3 million to settle FCPA charges against subsidiaries in Hungary, Saudi Arabia, Thailand, and Turkey — the latest in a long line of cases where poor procedures to document sales discounts offered by local resellers paved the way for bribery of foreign government officials.  Microsoft will pay $16.5 million to…

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Compliance Jobs Report: July 19

compliance jobs

The Compliance Jobs Report grinds through the summer doldrums this week, with personnel news at Dell, CNA Insurance, and Danske Bank. We have a surprising amount of news from vendors this week: customer wins, new products, and so forth; plus our usual notes on intriguing job openings. Our Meme of the Week goes out to…

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Call for U.S. Olympics CCO

olympic

A special commission reviewing the sorry state of the U.S. Olympic and Paralympic Committee has published its final report, calling for the appointment of a chief compliance officer and sweeping reforms to the Olympic Committee’s corporate culture. Known as the Borders Commission, the group was established last year to review how the USOPC mishandled the…

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Conn’s Lesson on Management Estimates

Oh, look. Another accounting enforcement action from the SEC, where poorly designed internal controls led to management’s abuse of estimates. Everyone put on your shocked face.  The SEC settled a case on Monday with Conn’s, a rent-to-own retailer based in Texas with $1.55 billion in annual sales. Conn’s agreed to pay $1.1 million in a…

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Compliance Jobs Report: July 12

compliance jobs

The Compliance Jobs Report this week bounces from Danske Bank (new hire) to British Columbia Lottery (compliance leader sacked), from promotions in higher ed to new hires in cryptocurrency world, and much more news. We have our usual three intriguing job openings, and our Meme of the Week goes out to the antitrust crowd. I…

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Whistleblower Fix Lurches Forward Again

internal reporting

More whistleblower protection news from Washington: the House has passed a bill to undo the damage of the Digital Realty Trust decision from the Supreme Court last year, which said that employees must first report their allegations to the SEC if they want to claim whistleblower protections under the Dodd-Frank Act. On Tuesday the House…

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Notes on Managers & Internal Reporting

reporting

Ethisphere has released its latest study of ethics and compliance best practices, this time exploring the crucial role that managers play in supporting a strong culture of ethics and internal reporting. Compliance professionals should give the report a read because, as usual, these best practice studies give you a lot to think about. This report…

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Compliance Jobs Report: July 5

Compliance jobs

No holiday weekend slowdown here! Another huge Compliance Jobs Report this week. The cities of Chicago and San Francisco both had some risk officer personnel news; new chief compliance officers named at Adventist Healthcare, DraftKings, some biotech firms, some financial firms, and plenty more. And since it’s the Fourth of July, our Meme of the…

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SEC Offers Path to Ease Misconduct Burdens

sec

Never get involved in a land war in Asia, and never ignore a regulator’s policy announcement dropped just before a long holiday weekend. SEC chairman Jay Clayton yet again proved how true that maxim is, with a statement on Wednesday opening the door to easier treatment of companies that violate securities laws. Clayton said that…

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What CBP Tells Us About Subcultures

CBP

This week we learned that employees of the U.S. Customs and Border Protection operate a closed Facebook group, replete with racist, sexist posts about migrants and Democratic politicians. For corporate compliance and governance professionals who think about the challenges of building a strong corporate culture, the mess at CBP offers a cautionary tale. The facts…

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