Compliance Archive

Mar 31, 2020
How banks should prepare for first-quarter earnings amid Covid-19
Given the rapid acceleration of the Covid-19 pandemic, the first-quarter 2020 reporting season will be the most challenging period for banks since the Great Recession.  Management teams will likely face many questions they have never been asked before as the investment community attempts to assess the current and future impact of the Covid-19 crisis on their companies. Based on our discussions ...
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Mar 03, 2020
California proposals offer CCPA clarification
The California Consumer Privacy Act (CCPA) went into effect on January 1, 2020, yet it did so with only initial draft regulations in place regarding its implementation and enforcement. Since then, California’s attorney general has issued modified proposed regulations to the data-privacy law, which towers in scope above anything else enacted ...
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Feb 21, 2020
The week in GRC: Nissan CEO faces angry shareholders, and SEC presses firms on Chinese audits amid coronavirus
– The Guardian reported that companies paid out a record $1.43 trillion in dividends to shareholders around the world in 2019. The record-breaking payout from public companies was driven by strong performances in stock markets in North America and emerging economies, including by some unusually high special dividends. The total payment was 3.5...
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Feb 05, 2020
Handling California’s ambitious data-privacy law
It may seem like the days are long, but the weeks fly by when it comes to preparing for a major new regulatory compliance regime. And that is how many businesses are likely to feel as what seemed like a generous 18-month ramp-up from passage of the California Consumer Privacy Act of 2018 (CCPA) to its January 1, 2020 effective date sped past. Not only is the CCPA the broadest – and the most comprehensive – data privacy law ever enacted in the US, but last-minute...
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Jan 31, 2020
SEC investor panel queries proxy reforms
The SEC should reconsider what it is trying to achieve in revamping the regulatory framework governing proxy advisers and shareholder proposals – and revise its rulemaking proposals in the area, according to the commission’s own investor advisory committee (IAC). ‘While we appreciate the commission’s effort to seek a productive balance in a changing environment for corporate governance and shareholder engagement, we are concerned that the [proxy advisers and...
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Jan 29, 2020
Marsh & McLennan’s Kuratek has stellar governance year
It’s been a banner year for Marsh & McLennan Companies’ (MMC) Connor Kuratek, in which he traveled from one side of the world to the other to help with governance issues. Kuratek only joined the firm in 2016 but was handed key roles on two of the most important issues facing MMC: an industry-wide investigation by the Australian Royal Commission, and the $6.5 billion acquisition of the UK’s Jardine Lloyd Thompson (JLT), MMC’s largest ever M&A deal. Hi...
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Jan 27, 2020
How Comscore takes a data-based approach to compliance
Comscore is a great example of using technology to move a compliance and ethics program forward. Centralizing and automating its training program over the past year has brought benefits in terms of improving the timely uptake of courses, being able to spot areas that need attention and fostering a compliance-focused culture. Our judges appreciated Comscore’s use of data analytics as part of a ‘comprehensive’ program. Comscore’s more than 1,500 employees acro...
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Jan 23, 2020
Inside RBC’s work to improve corporate governance
Canada’s Office of the Superintendent of Financial Institutions (OSFI) in September 2018 issued a revised corporate governance guideline that was more principles-based and contained fewer prescriptive elements. In doing so, OSFI granted boards at financial services firms greater discretion over how they meet its corporate governance expectations. Royal Bank of Canada’s (RBC) corporate secretariat and the corporate and oversight functions used this increased flex...
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