Compliance: Page 4
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"U.S. Securities and Exchange Commission headquarters in Washington, D.C., near Union Station" by AgnosticPreachersKid is licensed under CC BY 3.0
SEC slaps $3.5M fine on former Ideanomics CEO for alleged fraud
Since its inception in 2004, Ideanomics has switched its business model at least three times, from video on demand to petroleum trading products to electronic vehicle services.
By Jim Tyson • Aug. 12, 2024 -
Pgiam for iStock via Getty Images
IRS restarts review of employers’ claims for pandemic tax credit
The agency last year suspended processing applications for the Employee Retention Credit after reports of fraud.
By Jim Tyson • Aug. 9, 2024 -
Explore the Trendline➔
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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 -
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NJ law firm asks court to dismiss ex-CFO’s Chap. 11 bankruptcy case
The ex-CFO, who pleaded guilty to embezzling $1.5 million from his former employer, filed the petition for bankruptcy to delay pending litigation, the motion argues.
By Grace Noto • Aug. 9, 2024 -
Nuthawut Somsuk via Getty Images
Most big-company clawback policies go beyond SEC rules
Companies tend to want more executives to give back more types of compensation for more types of problems than what the government requires of them, an analysis finds.
By Robert Freedman • Aug. 6, 2024 -
Matt Kapko/CFO Dive
Insured loss impact could reach $1B following CrowdStrike outage
Guy Carpenter said it could be worse: Had the incident involved a ransomware attack, losses could have reached $2 billion.
By David Jones • Aug. 5, 2024 -
peepo via Getty Images
How to curb ‘key man risk’ and late SEC filings
The accounting talent shortage and increased reporting requirements helped create a “perfect storm” leading to more late SEC filings, UHY’s Ro Sokhi said.
By Maura Webber Sadovi • Aug. 2, 2024 -
DNY59 via Getty Images
Accounting pipeline task force calls out 6 fixes
Reducing the time and cost of education needed to become a licensed CPA and raising starting salaries were among the solutions proposed in the final report.
By Maura Webber Sadovi • Aug. 2, 2024 -
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Ex-NJ law firm CFO sentenced to five years for $1.5M embezzlement scheme
The former finance chief is required to pay $1.5 million as restitution to his former employer, the NJ AG’s office said.
By Grace Noto • July 29, 2024 -
Spencer Platt/Getty Images via Getty Images
Zelle, big banks challenge senators on scam reimbursements
Forcing banks to reimburse authorized payments could encourage bad behavior and would not deter scammers, bank executives said in a Senate hearing.
By Patrick Cooley • July 26, 2024 -
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Detroit nonprofit sues ex-CFO over alleged $40M embezzlement
The former finance chief breached his fiduciary duty and caused “enormous financial devastation,” according to the complaint.
By Alexei Alexis • July 25, 2024 -
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Judge deals major blow to SEC’s cybersecurity enforcement stance
“The decision substantially limits the SEC’s authority to challenge a company’s cybersecurity program,” attorney Mark Schonfeld said.
By Alexei Alexis • July 23, 2024 -
Matt Kapko/CFO Dive
Visa, Mastercard say CrowdStrike didn’t impact networks
Still, cardholders may have been affected, particularly in Europe, as some bank card issuers were hit by the cybersecurity company’s update snafu.
By Lynne Marek • July 22, 2024 -
VioletaStoimenova via Getty Images
Sponsored by TravelBankReducing T&E policy violations: 3 steps
Violations of travel and expense (T&E) policies are a drain on company funds.
July 22, 2024 -
Michael M. Santiago via Getty Images
Ex-Trump CFO Weisselberg released from second jail stint
The former CFO was released from prison Friday after pleading guilty to charges of felony perjury related to testimony given in ex-president Trump’s $464 million civil fraud trial.
By Grace Noto • July 19, 2024 -
Courtesy of FASB
FASB answers Big Four convertible debt ask
The fix comes after PwC, Deloitte, KPMG and EY requested clarity on rules related to convertible debt instruments that have seen a surge in demand.
By Maura Webber Sadovi • July 18, 2024 -
Anna Moneymaker via Getty Images
CFPB to apply lending laws to EWA
The federal agency weighed in Thursday with a proposed rule to oversee the burgeoning earned wage access industry.
By Lynne Marek • July 18, 2024 -
Joey Sirmons/CFO Dive
Sustainability experts: ‘Start preparing now’ for SEC climate rule, other disclosure regulations
Despite the SEC rule’s temporary stay, sustainability experts said companies should not wait for the court’s ruling to begin preparing for compliance.
By Zoya Mirza , Lamar Johnson • July 17, 2024 -
Drew Angerer via Getty Images
SEC rule jumpstarts Corpay CAO’s ESG push
The climate-risk disclosure rule’s March passage helped push the payments player to double down on its ESG reporting strategy, Chief Accounting Officer Alissa Vickery said.
By Maura Webber Sadovi • July 16, 2024 -
Justin Sullivan via Getty Images
Latest AT&T data breach risks customer defections: Moody’s
The incident comes as AT&T is already facing a number of class action suits stemming from a separate breach that was disclosed in March.
By Alexei Alexis • July 16, 2024 -
Valerii Evlakhov via Getty Images
Former tech CFO sanctioned in UK over fraud after US jail sentence
The ex-finance chief of software vendor Autonomy is banned from working as an accountant in the U.K. until November 2038.
By Alexei Alexis • July 11, 2024 -
Courtesy of ADM
ADM hires 3M CFO, signaling push for fresh start after accounting woes
The grain trading giant’s financial reporting practices have been in the spotlight since January when it revealed an internal probe was underway.
By Maura Webber Sadovi • July 10, 2024 -
SonerCdem via Getty Images
OSHA proposes rule to protect workers from extreme heat
Released this morning, the standard would require employers to provide water and rest breaks when high heat creates a hazardous work environment.
By Zachary Phillips • July 2, 2024 -
Al Drago via Getty Images
Chevron ruling adds new wrinkle to US cybersecurity efforts
The Supreme Court decision could have major ramifications for federal agencies that rely on old laws to tackle digital-era policy challenges, legal analysts said.
By Alexei Alexis • July 2, 2024 -
Chip Somodevilla via Getty Images
SCOTUS gives CFOs ‘brand new lens’ for tax positions
Businesses should review their tax positions to see if they are dependent on a regulation that might be vulnerable to a challenge, attorney Robert Kovacev said.
By Maura Webber Sadovi • July 1, 2024 -
Anna Moneymaker / Staff via Getty Images
Supreme Court deals big blow to federal agencies
In a landmark ruling, the justices overturned a 40-year-old precedent and significantly reduced the power of federal agencies to interpret the laws they administer.
By David Weisenfeld • June 30, 2024
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