Compliance: Page 27
-
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 -
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 Robert Freedman • Sept. 17, 2021 -
Explore the Trendlineâž”
the-lightwriter via Getty Images
TrendlineTop 5 stories from CFO Dive
The promises and traps of generative AI, revamped modern finance teams and stark geopolitical risks are among the top forces CFOs are grappling with this year.
By CFO Dive staff -
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 Jim Tyson • Sept. 16, 2021 -
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 Jim Tyson • Sept. 15, 2021 -
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 Jim Tyson • Sept. 14, 2021 -
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 Jim Tyson • Sept. 10, 2021 -
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 -
Alex Wong via Getty Images
Gensler backs tougher disclosure rules for SPACs
The SEC chair is concerned that investors are bearing the cost of dilution built into the SPAC structure, and in effect subsidizing the companies they bring public.
By Jim Tyson • Sept. 9, 2021 -
Remote workers complicate CFOs' state sales tax compliance
It takes just a single employee to create physical nexus in a state that would otherwise not generate a collection and remittance obligation.
By Robert Freedman • Sept. 8, 2021 -
Zach Gibson via Getty Images
Biden plan to close 'tax gap' overstates payoff: CBO estimate
CBO analysis suggests the Biden administration may be exaggerating the gains from its plan to boost the IRS budget to thwart corporate and individual tax cheats.
By Jim Tyson • Sept. 7, 2021 -
Alex Wong via Getty Images
SEC fines Kraft Heinz $62M, says procurement misled finance team
The company's controller group was misled into booking immediate savings instead of spacing them out over future years, the Securities and Exchange Commission says.
By Robert Freedman • Sept. 3, 2021 -
Chip Somodevilla via Getty Images
SPAC IPOs plunged 87% during Q2 amid tougher SEC scrutiny
The SPAC market falters as regulators raise concerns about spotty disclosures and weak investor protections. New litigation has also raised questions.
By Jim Tyson • Sept. 2, 2021 -
Screengrab/CFO Dive, data from SEC
HeadSpin CEO resisted hiring CFO while inflating ARR, SEC says
Manish Lachwani dictated company financials to its bookkeeper and manipulated invoices and other documents to support fabricated numbers, the Securities and Exchange Commission alleges.
By Robert Freedman • Sept. 2, 2021 -
Foreign investors can complicate capital raises
Even companies without obvious ties to national security can get snagged by a little-known regulator.
By Robert Freedman • Sept. 1, 2021 -
Win McNamee via Getty Images
Senate Democrats push for overhaul of Trump global tax framework
Top Democrats on the Senate Finance Committee aim to increase taxes on U.S. companies abroad with legislation that business groups say would undermine U.S. competitiveness.
By Jim Tyson • Aug. 30, 2021 -
Joe Raedle via Getty Images
Manufacturing CFO sentenced to 2 years for wire fraud
During six years as CFO of Chemstar Products, Gregg Johnson stole approximately $930,000 in company funds by issuing checks from the company’s bank accounts to cover personal expenses, including credit card and mortgage payments and his children’s college tuition.
By Jane Thier • Aug. 27, 2021 -
Healthcare company and its finance officers fined for misleading accounting
The company didn’t properly account for legal contingencies, inflating its earnings, the Securities and Exchange Commission said.
By Robert Freedman • Aug. 24, 2021 -
Photo by Alexander Suhorucov from Pexels
Most CFOs pushing internal diversity programs: PwC
Financial executives are rethinking their companies’ role in society, with 60% of them planning to advance internal programs to increase diversity, according to a PwC survey.
By Jim Tyson • Aug. 23, 2021 -
Win McNamee via Getty Images
Biden plan would increase taxes on less than 3% of small businesses: Treasury
Most small businesses would not face higher taxes under Biden’s spending proposal, the White House said, citing Treasury analysis in response to Republican criticism.
By Jim Tyson • Aug. 20, 2021 -
Group illegally traded on Netflix subscriber growth, SEC charges
An insider ring is said to have made stock bets on confidential KPI data before it was released in quarterly reports.
By Robert Freedman • Aug. 19, 2021 -
Alex Wong via Getty Images
SEC challenged in court over Nasdaq rule requiring board diversity
Affirmative action opponents in a court filing call the Nasdaq board diversity mandate “contrary to law, arbitrary and unconstitutional.”
By Jim Tyson • Aug. 19, 2021 -
Exec hit with insider trading after buying rival stock
A biopharma executive, after learning of plans for his company's acquisition by an industry giant, bought stock in a rival, which he suspected would get a valuation bump from the news.
By Robert Freedman • Aug. 18, 2021 -
Photo by Alexander Suhorucov from Pexels
SEC backs Nasdaq diversity rule over political opposition
The Nasdaq rule seeks to expand race and gender diversity on corporate boards but is met with resistance from Republican senators.
By Jim Tyson • Aug. 9, 2021 -
Christopher Hope-Fitch via Getty Images
Shareholder support surges for action on climate change: EY
Investors back proposals for change in corporate environmental and social policies, an EY study found.
By Jim Tyson • Aug. 6, 2021 -
David McNew via Getty Images
Companies oppose one-size-fits-all SEC climate disclosure rule: survey
The SEC should scale its coming rules for climate risk disclosure based on a company’s size, according to companies surveyed by the U.S. Chamber of Commerce.
By Jim Tyson • Aug. 5, 2021
Previous
