The Public Company Accounting Oversight Board has proposed rule changes that would make it easier for the Board to hold individual auditors accountable for negligent behavior that contributes to violations at audit firms and that put investors at risk. The PCAOB proposal would amend Rule 3502, Responsibility Not to Knowingly Read More
California legislators have passed one of the most sweeping greenhouse gas emissions bills in the nation this week and Governor Gavin Newsom has announced his intention to sign it into law. If passed, the law would require companies with more than $1 billion in revenue and that operate in California Read More
The Irish Data Protection Commission (DPC) has fined social media giant TikTok €345 million ($368 million) for violating the privacy of children between the ages of 13 and 17 while processing their data. In its binding decision, the European Data Protection Board (EDPB) analyzed the design practices implemented by TikTok Read More
Compliance leaders are facing increased pressure to make the most of existing resources due to economic challenges and increased workload and complexity, according to a new report. The study, conducted by research and consulting firm Gartner, identifies three crucial compliance function trends playing out this year: tighter budgets, changing labor Read More
The U.S. Department of Labor has proposed new rules that would extend mandatory overtime pay to 3.6 million salaried workers. The proposed rule would guarantee overtime pay for most salaried workers earning less than $1,059 per week, about $55,000 per year. “For over 80 years, a cornerstone of workers’ rights Read More
Final new rules and rule amendments adopted Aug. 23 by the Securities and Exchange Commission enhance regulations for private fund advisers, with the aim of “increasing transparency, competition, and efficiency in the private funds market,” the SEC said. The Commission said it has adopted these “carefully tailored rules to address Read More
Titan Global Capital Management USA has agreed to a cease-and-desist order, a censure, and a $1 million settlement with the Securities and Exchange Commission “for using hypothetical performance metrics in advertisements that were misleading,” the SEC announced Aug. 21. The New York-based FinTech investment advisory firm offers multiple complex strategies Read More
Ethics investigations can be challenging for just about any organization. If done right, an ethics investigation can help you identify wrongdoing and unethical behavior and put a stop to it before your organization pays the price for not maintaining a conducive and compliant work environment. A poorly executed ethics investigation, Read More
Teva Pharmaceuticals USA, a U.S. affiliate of Teva Pharmaceutical Industries, will pay a $225 million criminal penalty—the largest to date for a domestic antitrust cartel—while Glenmark Pharmaceuticals USA will pay a $30 million criminal penalty to resolve similar criminal antitrust charges, the Department of Justice announced Aug. 21. Both Teva Read More
Cantor Fitzgerald has agreed to a censure and a $100,000 sanction in a settlement with the Financial Industry Regulatory Authority (FINRA) relating to alleged compliance failures for which the financial services firm had previously been warned. From January 2020 to August 2020, Cantor published public quarterly reports on its handling Read More
