Compliance: Page 3
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MGM Resorts’ cyberattack headache continues as regulators launch investigations
The company said it could face fines in connection with regulatory inquiries stemming from the social engineering attack.
By David Jones • Feb. 26, 2024 -
"U.S. Securities and Exchange Commission headquarters" by AgnosticPreachersKid is licensed under CC BY 3.0
SEC charges husband for insider trading on wife’s deal-making for BP
A Houston resident overheard merger negotiations by his wife, a former BP employee, and engaged in insider trading, the SEC alleged.
By Jim Tyson • Feb. 23, 2024 -
Explore the Trendline➔
John Moore via Getty Images
TrendlineESG transforming CFO role
Companies are turning to their CFO to identify ways to measure and report on their organization's environmental, social and governance performance.
By CFO Dive staff -
Courtesy of Honda Aircraft Co.
IRS targets ‘under the radar’ misuse of corporate jets: Werfel
The IRS has stepped up tax enforcement since Congress approved a $80 billion funding boost in 2022.
By Jim Tyson • Feb. 22, 2024 -
Spencer Platt via Getty Images
Judge orders Trump Organization to pay $364M in long-awaited civil fraud ruling
Judge Engoron also permanently banned the organization’s ex-CFO and ex-controller from serving in the financial control function of any New York corporation.
By Grace Noto • Feb. 16, 2024 -
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Former NJ law firm CFO charged in $1.5M embezzlement scheme
The ex-finance chief had his law firm pay $355,256 in credit card ex-expenses for himself and his family, the New Jersey Attorney General alleges.
By Maura Webber Sadovi • Feb. 16, 2024 -
Spencer Platt via Getty Images
Imminent Trump civil fraud ruling could spur due diligence reckoning
The anticipated ruling could serve as warning to executives at companies run by dominant personalities to do their own due diligence on financial matters, Hofstra's Jack Castonguay said.
By Grace Noto • Feb. 16, 2024 -
Alex Wong via Getty Images
Werfel defends IRS against Republican efforts to slash funding
Before the approval of $80 billion in extra funding in 2022, the Internal Revenue Services fielded just one examiner for every 150 of the largest tax filers, IRS Commissioner Daniel Werfel said.
By Jim Tyson • Feb. 15, 2024 -
FangXiaNuo via Getty Images
Auditors should follow tougher standards for identifying fraud: IAASB
A proposal for stricter rules by the global standard setter for corporate audits follows what it says is a rash in fraud cases in recent years.
By Jim Tyson • Feb. 12, 2024 -
Courtesy of Hewlett Packard Enterprse
HPE seeks to recoup $4B in long-running fraud case
Hewlett Packard Enterprise attorneys want the founder and ex-CFO of Autonomy to pay for the steep losses HPE faced after acquiring their firm.
By Maura Webber Sadovi • Feb. 12, 2024 -
Jemal Countess via Getty Images
R&D tax rollback proposal leaves CFOs ‘on edge’
Many businesses applauded when a tax package with the key R&D provision sailed through the U.S. House. Now they’re waiting for the Senate to act.
By Maura Webber Sadovi • Feb. 8, 2024 -
MF3d via Getty Images
Yellen backs legislation to avert AI threat to financial stability
Testimony by the Treasury Secretary follows a pledge by the Biden administration to seize on the benefits of artificial intelligence while containing its risks.
By Jim Tyson • Feb. 8, 2024 -
Michael M. Santiago via Getty Images
Ex-CFO’s alleged perjury should not impact Trump civil fraud decision, lawyers say
Reports of potential perjury raise questions about the credibility of the former finance chief’s testimony during the Trump Organization’s civil fraud trial.
By Grace Noto • Feb. 8, 2024 -
Zach Gibson via Getty Images
IRS to collect $561B more in tax revenue with new enforcement funds
The Treasury highlighted the payoff from stepped up funding for IRS enforcement as Republicans seek to cut the agency budget.
By Jim Tyson • Feb. 7, 2024 -
Chip Somodevilla via Getty Images
CEO, CFO compensation clawback helps tech firm skirt SEC fine
Cloopen Group avoided civil penalties after cooperating with the agency and taking remedial steps, despite an accounting fraud scandal that triggered SEC charges.
By Alexei Alexis • Feb. 7, 2024 -
Stephanie Keith via Getty Images
Ex-Trump CFO could face prison again, experts say
Judge Arthur Engoron shone a spotlight on the ex-CFO’s credibility in a Tuesday email, asking attorneys in the Trump civil fraud case for clarity on the potential plea.
By Grace Noto • Feb. 6, 2024 -
Chip Somodevilla via Getty Images
Yellen says commercial real estate losses may leave banks ‘quite stressed’
Bank regulators aim to avert turmoil caused by a slump in the value of commercial real estate, Treasury Secretary Janet Yellen said in testimony to a House committee.
By Jim Tyson • Feb. 6, 2024 -
(Justin Sullivan/Getty Images) via Getty Images
Clorox says it incurred $49M in costs from 2023 cyberattack
The breach caused system disruptions that led to order processing delays and “significant product outages,” negatively impacting net sales and earnings.
By Alexei Alexis • Feb. 6, 2024 -
Stephanie Keith via Getty Images
Ex-Trump CFO in perjury plea talks: NY Times
A potential deal requiring ex-Trump CFO Allen Weisselberg admit to perjury comes as a ruling is imminent in the NY AG’s $370 million civil fraud case.
By Grace Noto • Feb. 2, 2024 -
"U.S. Securities and Exchange Commission headquarters" by AgnosticPreachersKid is licensed under CC BY 3.0
SEC wins legal victory against former tech CFO in accounting fraud case
Former CFO Karen Rosenberger is accused of helping software provider Synchronoss to engage in “long-running accounting improprieties.”
By Alexei Alexis • Jan. 31, 2024 -
Khanchit Khirisutchalual via Getty Images
CFOs must keep focus on ‘streamlined, clean’ data, Infosys exec says
Wrestling insights out of previously siloed data in a compliant, effective manner is paramount for CFOs looking to take advantage of generative AI technologies.
By Grace Noto • Jan. 30, 2024 -
Justin Sullivan via Getty Images
TIAA sues SVB ex-CEO, ex-CFO to recoup investment losses
The conduct of Silicon Valley Bank’s former leaders has come under heavy fire since its collapse last year, which marked the largest banking failure seen since 2008.
By Grace Noto • Jan. 29, 2024 -
Anna Moneymaker via Getty Images
SEC kicks dead SPAC horse with new rules
The commission is taking action to rein in SPACs as the once booming market is struggling to recover from a slump.
By Alexei Alexis • Jan. 25, 2024 -
Caiaimage/Paul Bradbury via Getty Images
Deep Dive2024 proxy outlook: What’s driving the ESG proposal approval dip?
Major asset managers and a spate of anti-ESG proposals helped push approval rates down, yet even more ESG proposals are expected after a record 2023.
By Lamar Johnson • Jan. 25, 2024 -
David McNew via Getty Images
76% of companies link pay to ESG performance in rising trend: WTW
The biggest companies are weaving ESG into pay incentives despite a backlash against the use of sustainability as a metric for corporate performance.
By Jim Tyson • Jan. 24, 2024 -
Nespix via Getty Images
EY: As AI compliance looms, CFOs are strategy ‘nerve center’
Balancing innovation with compliance, CFOs are essential in creating companies’ AI strategy, EY’s Liban Jama said.
By Grace Noto • Jan. 22, 2024
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