The Latest

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    Compliance costs to surge, straining tight budgets: Accenture

    Many compliance executives lack the funding needed to contain an expanding range of risks, Accenture found in a survey.

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    Finance is a team sport: 4 ways finance leaders can collaborate to deliver insights

    In this article, learn more about how you can turn your finance operation into a high-performing team that drives more value across the organization.

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    Proposed rule could push more family offices to lawyer up

    The proposal comes amid increased scrutiny of family offices in the wake of the Archegos Capital Management meltdown.

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    Moderna's CFO says scaling, hiring are constraints

    David Meline, who joined Moderna as CFO in June 2020, was brought back within the week of his retirement earlier this month to replace the ousted Jorge Gomez.

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    SoftBank CFO advises automation over bloated finance teams

    Leaning on automation can help companies free up key resources and keep team sizes small, allowing CFOs to think more strategically about periods of accelerating growth, says Navneet Govil, CFO of SoftBank Investment Advisers.

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    How employers can help struggling hybrid workers

    Employers can't just take one approach toward this issue but there are a number of ways to adjust old structures to new work realities.

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    Clorox sheds suppliers as COVID-19 inches toward 'endemic phase'

    “As that supply chain starts to level out, and we’re able to step out of some of those relationships with material suppliers, that also should reduce our cost,” Clorox CFO Kevin Jacobsen said on the company's third-quarter earnings call.

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    Just 30% of CFO-CIO relationships are 'collegial': Gartner

    More collaborative partnerships likely yields better digital outcomes because the CFO and CIO “tend to act like members of the same team instead of creating decision-making friction," the survey report states. 

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    Half of companies didn't meet hiring goals last year: survey

    Hiring may actually be harder for employers who are fully remote, the survey said.

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    Cloud adopters hobbled by 'on-premises computing' mindset: McKinsey

    Making six “persistent and pernicious mistakes,” many companies waste money and fail to derive the full value from their move to cloud computing.

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    Courtesy of Wells Fargo multimedia resources

    Wells Fargo taps wealth, investment management CFO to head advisory unit

    The firm selected Sol Gindi, its CFO for wealth and investment management and former C-suite executive for JPMorgan's wealth management and consumer banking businesses, to replace Jim Hays as the head of Wells Fargo Advisors.

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    screenshot of Federal Reserve press conference

    Fed's Powell welcomes 'significant' tightening in financial markets

    Powell underscored the Fed’s determination to reduce inflation, just one of many items on a long roster of risks bedeviling CFOs.

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    Moderna may seek to claw back payments to ex-CFO

    The vaccine-maker Moderna said it has the right to recoup any and all payments to ex-CFO Jorge Gomez if the company determines he engaged in any wrongdoing, according to an amended SEC filing Friday. An earlier filing said he would be provided a 12-month salary totaling $700,000 under a severance agreement.

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    SEC enforcement attorney predicts 'a lot more fraud' in crypto markets

    The SEC will turn to litigation if needed to achieve “clarity” as it fights abuses in cryptocurrency markets, according to an attorney in the agency’s Enforcement Division.

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    Will Twitter CFO keep role in Musk-led scenario?

    While Parag Agrawal referred to himself as a "lame-duck" CEO last week, the jury is still out as to whether Twitter finance chief Ned Segal will stay on if Elon Musk's deal to buy the social media giant closes.

  • Wayfair CPO shifts to CFO, chief administrative officer role

    HR pros, who often have strong leadership skills and high emotional intelligence, can be model candidates for C-suite roles, according to one executive search firm.

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    Companies need to align efforts at disclosure, cybersecurity: SEC attorney

    The SEC aims to protect investors from cyber-related risks by cracking down on companies that release misleading disclosures about cyberattacks, according to the top attorney in the agency’s Crypto Assets and Cyber Unit.

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    Opinion

    Lessons from the M&A front lines

    Early in the deal-making process CFOs should think big and prioritize but they also need to consider steps for setting the tone after the ink dries.

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    U.S. regulators see 'endgame' to LIBOR phaseout

    Winding down LIBOR has reached the final stage as businesses increasingly borrow using an alternative reference rate, U.S. regulators said.

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    FASB shifts to prioritize 'rapidly evolving' crypto assets

    The board is getting serious about improving accounting standards for digital assets even as a crypto market slump is hammering valuations.   

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    Moderna CFO exits abruptly amid probe at former company

    Jorge Gomez's departure came just one day after he took the reins as CFO of Moderna, which has become a household name due to the rapid development and success of its coronavirus vaccine. 

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    General counsel face heightened liability risk as SEC seeks to drop SPAC safe harbor

    Projections to attract shareholders could trigger lawsuits as plaintiffs’ attorneys take advantage of what amounts to a shift in the burden of proof to operating companies.

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    SEC fines NVIDIA $5.5M for failing to disclose cryptomining impact

    NVIDIA rode the rush into crypto assets as customers used its gaming devices for cryptomining. The SEC penalized the company for allegedly not disclosing how it gained from the crypto boom.

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    Inflation pounds small business optimism to 48-year low

    While the NFIB said price pressures have eroded optimism, the Federal Reserve warned that rising interest rates may complicate efforts by companies to pay off debt.

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    Chipotle CFO doesn't rule out more food inflation despite pause

    Finance chief Jack Hartung said the restaurant chain has raised prices by a total of about 10% for the 12 months through the first quarter compared to 2% in a typical year.

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    Courtesy of Wells Fargo multimedia resources

    Judge dismisses class action against Wells Fargo, former CEO, ex-CFO

    Investors led by a retirement fund for Hawaii state employees failed to prove the bank unjustifiably inflated loans, understated loss reserves or misstated its practices, a judge ruled Friday.