Inflation outlook hinges on future wage growth: Summers

History suggests that with inflation and unemployment at current levels, the U.S. may be headed toward a recession, former Treasury Secretary Lawrence Summers said.

By Jim Tyson • May 31, 2022

Prepping for the next phase of stimulus fraud probes

Federal authorities appear to be operating under a strong mandate to ferret out perceived fraud and abuse in the oft-confusing world of COVID-19 stimulus programs.

By Matthew S. Adams • May 31, 2022

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 Jim Tyson • May 26, 2022

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 Jim Tyson • May 25, 2022

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 Jim Tyson • May 24, 2022

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

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 Jim Tyson • May 23, 2022

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.

By Jim Tyson • May 18, 2022

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.

By Jim Tyson • May 17, 2022

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 Maura Webber Sadovi • May 17, 2022

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 Jim Tyson • May 16, 2022

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 Jim Tyson • May 13, 2022

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 Jim Tyson • May 12, 2022

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

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 Jim Tyson • May 11, 2022

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 Maura Webber Sadovi • May 11, 2022

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.

By Jim Tyson • May 10, 2022

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

Skanska posts 21% dip in Q1 profits as CFO cites inflation

Skanska CFO Magnus Persson, while citing a drag from inflation, identifies infrastructure spending as a future bright spot.

By Zachary Phillips • May 6, 2022

Professional workers 'significantly' harder to hire, retain: Conference Board

CFOs are offering higher pay, more generous benefits and greater workplace flexibility in order to overcome the tightest labor market in years.

By Jim Tyson • May 5, 2022

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 Jim Tyson • May 4, 2022

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

Fed probably needs to curb GDP growth to 1% to quell inflation: Moody's

CFOs navigating an unusual array of profit threats — from supply chain disruptions to the possibility of a new COVID-19 variant — may need to add stagflation to their roster of risks.

By Jim Tyson • May 2, 2022

FASB explores single consolidation model

“We can bring some order to this area where I think we’re hearing very clearly that order is needed,” said Richard Jones, FASB chair.

By Maura Webber Sadovi • April 29, 2022

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 Jim Tyson • April 28, 2022