Compliance: Page 2


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    SEC. (2021). "DWAC" [Photo]. Retrieved from SEC.

    Trump SPAC partner might have violated SEC curb on pre-IPO planning

    The former president and the SPAC CEO are said to have discussed a deal before the blank-check company was registered, although some analysts say the issue isn't that simple, The New York Times reports. 

    By Nov. 1, 2021
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    Carol Highsmith. (2005). "Apex Bldg." [Photo]. Retrieved from Wikimedia Commons.

    Shift makes it easier for FTC to block acquisitions

    A policy passed in July lets the Federal Trade Commission preemptively stall an M&A deal if a company has run into anti-competitive problems before.

    By Oct. 29, 2021
  • Trendline

    Dynamic budgeting takes center stage

    Traditional budgeting is turning 100 years old. CFOs are test-driving alternatives.  

    By CFO Dive staff
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    "SEC" by SEC is licensed under CC BY 2.0

    Streaming company disgorges $38.8M it generated from SPAC investors

    Akazoo agreed to return the amount after generating $55 million from its merger with a special purpose acquisition company despite having no customers and only nominal revenue, the Securities and Exchange Commission says.  

    By Oct. 28, 2021
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    "SEC" by SEC is licensed under CC BY 2.0

    SEC chief accountant calls for safeguards for independent audits

    "Not all audits are created equal," a top SEC official said, noting the imperative to "vigilantly maintain the independence of auditors."

    By Oct. 27, 2021
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    Retrieved from Senate Banking Committee.

    U.S. regulator warns of 'complacency' as LIBOR's end draws near

    The phaseout of LIBOR is "an incredibly important issue facing the global financial system," a top U.S. regulator said.

    By Oct. 26, 2021
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    "Calculator" by stevepb is licensed under CC BY-SA 2.0

    Flaws persist in audits of U.S. companies: PCAOB

    “We continue to identify a number of deficiencies that recur from year to year,” the U.S. audit watchdog said in a report.

    By Oct. 19, 2021
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    "SEC" by SEC is licensed under CC BY 2.0

    More lawsuits a likely result of SEC shift on no-admit, no-deny settlements

    By requiring more companies and officers to admit guilt to settle charges, the Securities and Exchange Commission is courting confrontation.

    By Oct. 19, 2021
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    "SEC" by SEC is licensed under CC BY 2.0

    Numeral '4' called key to SEC spotting EPS manipulation

    The prevalence of the number serves as a proxy for whether companies are improperly rounding up their earnings ratio. 

    By Oct. 11, 2021
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    Maddie Meyer via Getty Images

    Federal government to seize home of CFO who embezzled $30M

    Richard Hajjar, former CFO of Alden Shoe Co., was sentenced to 70 months in prison after pleading guilty to wire fraud, unlawful monetary transactions and filing a false tax return.

    By Jane Thier • Oct. 6, 2021
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    Chip Somodevilla via Getty Images

    End of LIBOR moving too slowly: Fed's Quarles

    "The reign of LIBOR will end imminently, and it will not come back," says Fed Vice Chair Randal Quarles.

    By Oct. 5, 2021
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    Joe Raedle via Getty Images

    Food company CFO charged with 'theft by swindle'

    Between 2013 and 2019, Thomas Wiechmann, Reichel Foods' CFO of 24 years, charged a total of $603,172.96 to company credit cards and kept the reward points, Minnesota District Court alleged in a complaint.

    By Jane Thier • Sept. 29, 2021
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    Joe Raedle via Getty Images

    Court upholds SEC 'gag rule' for executives who settle

    The Securities and Exchange Commission has unique power to prevent defendants from challenging allegations they believe were never adequately proven, critics say.

    By Sept. 28, 2021
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    SDI Productions via Getty Images
    Sponsored by Trintech

    Gaining greater control over your regulatory compliance with financial close automation

    Manual processes are no longer simply a hindrance. Rather, they can lead your organization to deal with the consequences of missing the mark on meeting requirements around regulatory compliance.

    Sept. 27, 2021
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    Chip Somodevilla via Getty Images

    SEC asks companies for details on impact of climate change

    The SEC has asked CFOs for details about the risks and opportunities from climate change while preparing a proposed rule on disclosure.

    By Sept. 23, 2021
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    Drew Angerer via Getty Images

    Portfolio companies could see indirect impact from House carried-interest changes

    None of the changes are big but there could be some tweaks to the terms of capital raises as investors make tax-related strategic choices.

    By Sept. 23, 2021
  • Rise in non-financial disclosures gives CFOs a chance to shine

    As organizations pack their reports with more information, the workload is increasing but so is the opportunity to tell a compelling story.

    By Ted Knutson • Sept. 22, 2021
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    Alex Wong via Getty Images

    Gensler warns no extension coming to LIBOR's end on Dec. 31

    Some institutions will wait until the last minute to switch from LIBOR to a new reference rate, SEC Chair Gary Gensler predicted, leading to some “choppy” trading toward the end of 2021.

    By Sept. 21, 2021
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    Seth Wenig/Getty Images via Getty Images

    Trump Organization CFO appears before New York Supreme Court

    Allen Weisselberg will get more time to file a pre-trial motion to review "millions of pages" of documents that weren't part of the case before. 

    By Jane Thier • Sept. 20, 2021
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    Sean M. Haffey via Getty Images

    SEC charges high school district CFO with misleading investors

    Former finance chief Karen Michel told investors Sweetwater Union High School District in San Diego County would end the 2018 fiscal year with a $19.5M general fund balance while it was actually on track for a $7.2M deficit, the SEC says.

    By Jane Thier • Sept. 17, 2021
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    Win McNamee via Getty Images

    Ways & Means bill seeks higher taxes on domestic, foreign income

    Changes to carried interest rules could also have an impact, if investment firms rethink equity strategies.

    By Sept. 17, 2021
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    David McNew via Getty Images

    BlackRock losing 'patience' on pace of corporate ESG disclosure

    The hedge funds that lead most proxy battles seek to ride a rising tide of investor concern about sustainability.

    By Sept. 16, 2021
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    Zach Gibson via Getty Images

    S&P 100 companies pay 20% overall tax rate: WalletHub

    Technology and other S&P 100 companies last year curbed their tax liabilities thanks to comparatively low international tax rates.

    By Sept. 15, 2021
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    Alex Wong via Getty Images

    Gensler calls workforce a 'key asset' warranting corporate disclosure

    Democrats on the Senate Banking Committee pressed SEC Chair Gary Gensler to require greater disclosure from companies on the diversity and other facets of “human capital.”

    By Sept. 14, 2021
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    Chip Somodevilla via Getty Images

    Government action needed to increase competition among audit firms: Turner

    Auditors for U.S. companies need to shift their culture by putting investor interests first, former SEC Chief Accountant Lynn Turner said.

    By Sept. 10, 2021
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    Chip Somodevilla via Getty Images

    Former CFO of drugmaker Aceto sentenced for insider trading

    Douglas Roth sold his shares two weeks prior to its public disclosure of financial troubles, the Securities and Exchange Commission says.

    By Jane Thier • Sept. 9, 2021