Compliance


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    Restatements surge to 15-year high on SPAC filings

    Tougher SEC oversight triggered a wave of SPAC restatements in 2021 and chilled the market in so-called blank-check companies.

    By May 26, 2022
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    Is regulation shifting how CFOs should think about digital assets?

    Regulators have been prompted to take a closer look at cryptocurrency as several digital assets have plummeted in value. 

    By Grace Noto • May 26, 2022
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    Trendline

    Mastering revenue recognition

    Improper revenue recognition is companies' No. 1 reporting violation, according to the SEC, underscoring the importance of sound compliance practices.    

    By CFO Dive staff
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    Climate-related disclosure annually costs companies $677,000 on average

    The Securities and Exchange Commission is pushing a climate risk disclosure rule that would require companies to budget for detailed analysis of their greenhouse gas emissions.

    By May 25, 2022
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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.

    By May 24, 2022
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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.

    By Ted Knutson • May 24, 2022
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    SEC charges BNY Mellon unit with making false ESG statements

    The SEC has stepped up its efforts to ensure companies accurately report their adherence to sustainability best practices.

    By May 23, 2022
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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.

    By Kathryn Moody • May 19, 2022
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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.

    By May 17, 2022
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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.

    By May 16, 2022
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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.

    By May 13, 2022
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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.

    By May 12, 2022
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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.   

    By May 12, 2022
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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.

    By Robert Freedman • May 12, 2022
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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.

    By May 11, 2022
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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. 

    By May 11, 2022
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    Opinion

    With SEC's proposed climate rules, CFOs should listen to investors

    A stakeholder-influenced materiality assessment will help business leaders comply with the SEC's proposed disclosure rules and focus their sustainability efforts.

    By Donavan Hornsby • May 9, 2022
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    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.

    By Robin Bradley • May 9, 2022
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    Appointment of women to Fortune 500 boards hits record high

    Boards have made strides toward greater diversity but still do not sufficiently represent some racial and ethnic groups, Heidrick & Struggles said.

    By May 6, 2022
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    FASB homes in on cryptocurrency

    FASB has generally been cautious about moving to standardize accounting for bitcoin and other digital asset investments but its stance appears to be shifting. 

    By May 6, 2022
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    Global ESG standard-setting gains speed

    CFOs seeking to provide shareholders with more sustainability data must choose from a patchwork of inconsistent measurement frameworks. Regulators and other standard setters worldwide are now building a consensus behind uniform rules for gauging sustainability.

    By May 4, 2022
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    SEC to nearly double crypto enforcement unit

    The agency is adding 20 supervisors, investigative staff attorneys, trial counsels and fraud analysts to the team that currently has 30 dedicated positions. 

    By Robin Bradley • May 3, 2022
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    Global minimum tax compliance to take 'significant' company resources

    Forty percent of businesses surveyed by EY have considered adding headcount, outsourcing tax department operations and investing in new technology to meet BEPS 2.0 requirements.

    By May 2, 2022
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    SEC sues Brazilian mining firm, alleging false ESG claims

    The agency that supervises Wall Street, seeking to ensure accurate sustainability disclosures, sued a Brazilian company for allegedly misleading investors about safety before a dam collapse killed scores of nearby residents.

    By April 28, 2022
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    Most executives admit to ESG 'greenwashing': survey

    Companies overstate their commitment to sustainability as investors, regulators, lawmakers and other stakeholders push for adherence to environmental, social and governance best practices.

    By April 27, 2022
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    SEC penalizes pizza accountant $2M for alleged insider trading

    The agency tasked with keeping an eye on Wall Street is increasingly using data analytics to uncover accounting fraud and other wrongdoing.

    By April 26, 2022