A new study finds that more financial firms are outsourcing all or part of their compliance functions, while others are growing compliance budgets and staff levels more slowly. Meanwhile, a large majority expect regulators to continue to pile on new regulations during the rest of the year. The study, 2021 Read More
Corporate compliance officers are getting more involved in diversity and inclusion efforts, using their expertise in helping employees adhere to laws and company policies to push for change. Many companies made commitments to promote racial equality last year following the murder of George Floyd while in police custody, including by hiring and Read More
As a government outsider, it’s impossible to know why there hasn’t yet been any DOJ or SEC corporate enforcement of the FCPA under the current administration. Here are three possible reasons: A time to renegotiate. With every change of administration, there is a changing of the guard. Department heads and Read More
An executive order released by the Biden administration last month seeks to bolster the federal government’s cybersecurity defenses and resilience by imposing a variety of requirements on federal agencies and government contractors that are likely to have spillover effects in the private sector. While many federal agencies and contractors already Read More
Investors and regulators are pushing for more comprehensive and uniform reporting on environmental, social, and governance (ESG) efforts. Some organizations are even tying incentive compensation metrics to ESG goals. In March, the Securities and Exchange Commission said it would be looking more closely at ESG disclosures and also announced the creation of Read More
The Securities and Exchange Commission has announced the creation of a Climate and ESG Task Force in the Division of Enforcement. The task force will be led by Kelly L. Gibson, the Acting Deputy Director of Enforcement, who will oversee a Division-wide effort, with 22 members drawn from the SEC’s Read More
The building blocks of reliable, comparable and relevant environmental, social, and governance (ESG) information begin with a foundation of quality reporting by company management. Now companies have a new resource to improve ESG reporting. The American Institute of CPAs and Center for Audit Quality teamed up to provide audit practitioners Read More
A new report from Transparency International finds that corruption levels have increased around the world, including in some of the countries that have typically scored well, such as Canada, Australia, and the United States. Indeed, among the top 25 least corrupt countries, according to TI’s Corruption Perception Index (CPI), 15 had lower scores Read More
The Securities and Exchange Commission voted this week to adopt amendments that will modernize, simplify, and enhance certain financial disclosures, including the Management’s Discussion and Analysis requirement. The changes are intended to enhance the focus of financial disclosures on material information for the benefit of investors, while simplifying compliance efforts Read More
New guidance from the U.S. Commodity Futures Trading Commission (CFTC) to its Division of Enforcement staff outlines factors to consider when evaluating companies’ compliance programs during enforcement investigations. The guidance reflects a principles-based approach that avoids prescribing specific guidelines for compliance program structures. The CFTC aims to encourage companies to Read More
