Walmart filed its latest quarterly report last Thursday, and compliance officers know what that means: another update on the company’s long-running FCPA investigation. This quarter’s tally was $29 million. Of that amount, $24 million related to the ongoing investigation, another $5 million devoted to “global compliance and organizational improvements.” For the first three quarters of…
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Compliance jobs news is coming fast and furious this week. We have a bunch of new hires at financial services firms, a new audit executive at Mohegan Sun, a new compliance officer at Ingredion, and much more. I gather these bits of gossip from LinkedIn, news alerts, and friends emailing me something to include. If…
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Today we continue our series on compliance in the Trump Era by looking at what could happen with Washington politics. Compliance officers might wish that’s something you can ignore, something that exists on a plane beyond your world of internal investigations, whistleblower complaints, and regulatory probes. No such luck. Republicans and the Trump Administration have…
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December 15 rapidly approaches, and financial reporting executives know what that means: new disclosure rules coming into effect for fiscal years ending after that date. The most interesting one may be the new standard for companies to assess their ability to continue as a going concern. The Financial Accounting Standards Board adopted that standard, Disclosure…
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Even on this Thanksgiving-shortened week, we have some compliance jobs news and gossip, including a new CCO for Credit Suisse in Switzerland, a few moves within the federal government, and two recent victories for one of the heavyweights on the FCPA defense bar. I gather these bits of gossip from LinkedIn, news alerts, and friends…
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Last week we began an occasional series about how the incoming Trump Administration might affect the world of corporate compliance. Today we continue with a look at the future of the Foreign Corrupt Practices Act. First, let’s knock down the prospect of Congress revising the FCPA itself. Regardless of what Republican lawmakers say to score…
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This week we have a new export compliance officer at ZTE, a new chief audit executive at United Grocers, and a three more years for FASB chairman Russell Golden. We also have tidbits from FIS, Siemens, Kaiser Permanente, and more. I gather these bits of gossip from LinkedIn, news alerts, and friends emailing me something…
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Last week two companies became the first public filers to cite the incoming Trump Administration as a risk worth disclosing in the Risk Factors section of their quarterly reports. We haven’t seen any more since then, although we will in the future. Several people wrote to me after that post last week, essentially saying—well, so…
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One day after compliance officers had a small bit of comfort, that one of their own was playing a key role helping the incoming Trump Administration with Justice Department issues—he’s out. Kevin O’Connor, currently general counsel at asset management firm Point72, spent three years as global head of ethics & compliance at United Technologies Corp.…
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One potential bright spot for corporate compliance officers seeking answers in about the incoming Trump Administration: one of your own is leading the transition team for the Justice Department, according to Bloomberg. That person is Kevin O’Connor, who served as global head of ethics & compliance at United Technologies Corp. from 2012 to 2015. O’Connor…
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