SEC Chairman Mary Jo White announced her resignation yesterday, firing the starting pistol for the Trump Administration to reshape financial regulation in this country. Compliance officers are uneasy about what the incoming Trump Administration might mean to them, and for good reason. Still, we have a few early clues to consider, so let’s try to…
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They’re here, they’re here! The first corporate filings that cite the incoming Trump Administration as a potential risk factor! The winner is TPI Composites, a Rhode Island-based manufacturer of components for wind power generation. TPI filed its third-quarter report at 4:41 p.m. on Wednesday, Nov. 9. Fourteen minutes later came the quarterly report for Adeptus…
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First, thank you to our veterans; and welcome to this week’s roundup of compliance jobs news. We have a promotion at Zenefits; new compliance hires at GE, LPL Financial, and TransUnion; a few vendors continuing to expand their empires; and more. I gather these bits of gossip from LinkedIn, news alerts, and friends emailing me something…
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Well, the American people, in their endless wisdom or lack thereof, elected Donald Trump to the White House and gave us a Congress even more deeply divided than before. The post-mortems on what happened last night and what it means for the country will be many, and last for months. Compliance officers can get started…
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Last week New York state regulators fined Agricultural Bank of China $215 million for running a weak compliance program and undermining its chief compliance officer so much that eventually she quit. Sounds great, right? Well, before you go stapling that piece of news to your audit committee chairman’s forehead, let’s take a closer look at…
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Employees paying lip service to compliance is rampant at large organizations. They lie about completing training as required, about audits performed or procedures done, just so the documentation looks good and the compliance officer goes away. We all know this. So I was delighted recently to find a study from that largest of large organizations,…
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This week’s jobs news in compliance includes several new CCOs in the financial sector, Johnson Controls’ head of EMEA compliance making a move, and the return of an early GRC entrepreneur back to the field after several years away. For all the good stuff, read on. I gather these bits of gossip from LinkedIn, news alerts,…
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The other day a compliance officer in the Middle East asked me a question: how much money should a company spend on compliance as a percentage of its annual budget? Or, my friend added, should you define that benchmark as a percentage of annual revenue, or margin, or outlays for employees, or what? How can…
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Just in time for fourth-quarter audit committee meetings, everyone’s favorite financial reporting punching bag for 2016 is back: non-GAAP financial metrics! When we last visited non-GAAP metrics in July, the chatter against this quasi-scourge was rising. The SEC didn’t like it, the PCAOB didn’t like it, governance activists didn’t like it. Then everyone seemed to…
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Lots of jobs news in compliance this week! We have a compliance officer meltdown at Broward Health, a new head of European compliance for McDonald’s, a new head of American compliance for Takata, and more beyond that. I gather these bits of gossip from LinkedIn, news alerts, and friends emailing me something to include. If you…
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