Federal Government continues to target bank compliance programs

Federal Government continues to target bank compliance programs

The U.S. Treasury Department announced yesterday that Bank of America Corp’s banking unit agreed to pay $16.6 million to resolve allegations that it processed hundreds of transactions for drug traffickers who are subject to U.S. sanctions. The Office of Foreign Assets Control (OFAC) reported that the bank processed about 200 transactions totaling ... Read More »

President Obama issues executive order making it illegal for Federal Government contractors to discriminate on the basis of sexual orientation or gender identity

President Obama issues executive order making it illegal for Federal Government contractors to discriminate on the basis of sexual orientation or gender identity

On July 21, 2014, President Obama issued an Executive Order that makes it illegal for federal government contractors to discriminate on the basis of sexual orientation or gender identity. The Executive Order amends Executive Order 11246, first issued in 1965, which prohibits federal government contractors and subcontractors from discriminating against ... Read More »

FRC proposes revisions to the UK Corporate Governance Code

FRC proposes revisions to the UK Corporate Governance Code

In April 2014 the UK’s Financial Report Council (FRC) published its consultation document on the proposed revisions to the UK Corporate Governance Code (the Code).  The consultation follows previous consultations in 2013 on directors’ remuneration and risk management, internal control and the going concern basis of accounting.  The consultation document ... Read More »

Physicians and teaching hospitals should register and review reporting of payments made and interests held before they are released to the public

Physicians and teaching hospitals should register and review reporting of payments made and interests held before they are released to the public

On September 30, 2014, the Centers for Medicare and Medicaid Services (“CMS”) will release information to the public relating to certain payments to physicians and teaching hospitals (collectively “Covered Providers”) from drug/device manufacturers and group purchasing organizations, as well as information on physician ownership and investment interests in certain drug/device ... Read More »

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