In a recent speech, the Chairman of the SEC argued that other countries’ failure to enforce foreign anti-bribery and corruption laws may put U.S. companies at a competitive disadvantage to foreign firms.… Continue Reading
It is no secret that the global commodities trading sector is rife with corruption risks. We at Global Witness have been investigating this for years, and have seen enforcement efforts fall short all too often.… Continue Reading
The Big Three credit rating agencies — Standard & Poor’s, Moody’s, and Fitch Group — control about 95% of the market. They played a pivotal role in causing the 2008 financial meltdown.… Continue Reading
The former head of the nation’s biggest pension fund pleaded guilty in federal court in San Francisco to taking bribes and helping an associate collect millions in a fraudulent investment scheme.
Fred Buenrostro Jr.… Continue Reading
Accounting giant Ernst & Young will pay $4 million to settle civil charges that it violated auditor independence rules after one of its units lobbied congressional staffers on behalf of audit clients, the Securities and Exchange Commission said Monday.… Continue Reading
The SEC’s Office of Compliance Inspections and Examinations (OCIE) issued a Risk Alert in April with additional information about its Cybersecurity Initiative.
The Risk Alert is particularly relevant after news this week that the SEC has opened investigations of Target and other companies examining whether they properly handled and disclosed a growing number of cyberattacks.… Continue Reading
The U.S. Securities and Exchange Commission has opened investigations of multiple companies in recent months examining whether they properly handled and disclosed a growing number of cyberattacks.
The SEC increased its headcount by 22 percent and spending by 62 percent since 2006. The increases are part of a global trend as agencies worldwide coordinate their scrutiny over regulated entities.… Continue Reading
A federal district court ruled in May that whistleblowers don’t have to report to the SEC to receive protection against retaliation by their employers.
The SEC said Tuesday it awarded two whistleblowers more than $875,000 for their tips that helped the agency bring an enforcement action.
The two individuals will split the money evenly.
The SEC didn’t release details of the enforcement action or the identities of the whistleblowers.… Continue Reading