The crisis this week involves LendingClub Corp. and its decision to fire Chief Executive Renaud Laplanche after the board said it found problems with his lending practices and the lack of disclosure about a personal investment.
The benefits are huge for companies that can take advantage of streams of often boundless information known as big data, but so too are the corporate risks.
The Securities and Exchange Commission issued its second whistleblower reward in less than a week, announcing it will give between $5 million and $6 million to a former company insider.
The U.S. announced myriad changes to ease its sanctions regime in Myanmar, including the increase of a threshold for reporting investment in the country and a license allowing business with all banks based there.
Vantage Drilling International notified the U.S. government of an internal 2010 investigation into possible improper payments in Asia after one of the company's former board members was named in the Petrobras corruption investigation.
Compliance officers and data specialists said they are experiencing major gains from using a growing set of big data that is transforming business operations around the globe.
Corporate governance experts are making much of board refreshment of late, but a rush to get new blood on boards could actually hurt shareholder returns and company values.
The U.S. Treasury Department issued general licenses allowing certain activity at Panamanian entities seized or controlled by Panama's government in the wake of U.S. sanctions.
The U.K. government, as part of its Anti-Corruption Summit, said it would consider legislation that would criminalize the failure to prevent economic crime, which experts say could overturn a century of U.K. corporate criminal law.
FIFA lurched back into crisis over the weekend, despite President Gianni Infantino's declaration that it was "over."
Last week, U.S. Secretary of State John Kerry met with banking leaders in London, but again, they tuned him out, with several banks telling The Wall Street Journal they still won't enter the Iranian market.
President Barack Obama this week signed a bill that allows companies to sue in federal court to defend their trade secrets, and legal experts expect companies to file lots of lawsuits.
The rate of fraudulent calls to company call centers is up 45% since 2013, according to a report that analyzed around 10 million calls to call centers in the U.S. and U.K.
Would-be whistleblowers should come forward with information on potential securities violations even if they think the SEC is already investigating it, the SEC said.
A federal judge is allowing a company to proceed with a lawsuit alleging that Google improperly censored search results.
Gender disparities in income are greater in many white-collar U.S. professions than blue-collar, a Wall Street Journal examination found, and don’t lend themselves to legislative remedies.
Millions more Americans are set to qualify for overtime pay under a final Labor Department regulation, in what could be President Barack Obama’s last big push to shore up workers’ wages.
J.P. Morgan Chase shareholders voted overwhelmingly in favor of the bank’s size and strategy Tuesday, tackling an increasingly common question among analysts and investors of big banks.
A Bank of America executive accused her employer of misleading trading clients, in a lawsuit in which she called the bank a “bros club” and said it discriminated against her for being a woman.
Major insurer Highmark Inc. is suing the federal government, arguing it is owed money under the Affordable Care Act, a move that opens yet another front in the ongoing legal battles over the 2010 health law.
Employers can provide employees big incentives or insurance discounts if they answer questions about their health, according to new rules issued Monday by the U.S. Equal Employment Opportunity Commission.
Novartis AG said its head of pharmaceuticals, David Epstein, is to leave the company amid a restructuring that will divide his role in two.
Plains All American Pipeline said the company and one of its employees were indicted in the failure of an onshore California crude pipeline last year.
Following the forced resignation of its chief executive and founder last week, LendingClub Corp. on Monday revealed a Justice Department investigation and unveiled a potential dramatic shift in its business model.
The Obama administration is easing some economic sanctions on Myanmar, including on the banking system, to make it easier for Americans to do business there, but stopped short of broader action.
The Supreme Court on Monday issued a ruling that takes an expansive view of the type of fraud that will keep an individual debtor from taking advantage of the fresh start offered by bankruptcy.
A music industry business manager has been sued by both his firm and former client Alanis Morissette for allegedly misappropriating $4.8 million of the Canadian singer’s money.
Five months after leaving office as one of the most powerful Argentine leaders in decades, former President Cristina Kirchner finds herself fending off a series of serious criminal allegations, further ratcheting up tensions in the already polarized country.
When hard pressed on pointed questions, particularly from investors, executives frequently respond with answers that are least likely to cause concern.
Rep. Mick Mulvaney's new proposal would recapitalize Fannie and Freddie and release them from government control
Facebook’s Mark Zuckerberg will meet with about 15 conservatives Wednesday as part of an effort to allay fears the social network suppressed conservative news.
The U.K.’s Competition and Markets Authority announced measures to improve competition and customer service in the banking sector, but stopped short of calling for big banks to be broken up.
Brazil’s federal police have accused the head of the country’s biggest steelmaker, Gerdau SA, of corruption-related offenses and say his firm participated in a scheme to evade 1.5 billion reais ($428.6 million) in taxes
The Swiss bank has come up with a novel bond to protect itself against its own failings, but equity still looks cheaper.
Alaska Air Group Inc., which in early April announced a $2.6 billion offer to acquire Virgin America Inc., said it and its target have received a request for more information from the U.S. Justice Department.
Canada has introduced legislation that would protect transgender individuals from discrimination, with Prime Minister Justin Trudeau arguing that all Canadians deserve to live free of stigma and persecution.
Sweeping changes to the trade barriers governing the sugar industry are redrawing the map for one of the commodity world’s most-protected markets.
Federal regulators agreed to review a key patent for Humira, sending shares of the anti-inflammatory drug’s maker, AbbVie, lower while lifting those of hopeful rival Coherus BioSciences.
Alphabet subsidiary Google is challenging the South Korean government over restrictions to Google’s mapping services in the country, in a rare public disagreement over policy.
Forest fires in Northern Alberta are threatening two major oil-sands mining complexes, government officials said on Tuesday, a day after 8,000 workers evacuated camps and production facilities at risk from the spread of uncontrolled blazes.
For years, efforts have been under way to outfit the earthquake-prone West Coast of the U.S. with a system to warn residents before the shaking from a quake strikes. Now, scientists are pressing officials to speed up the process.
President Nicolás Maduro is inviting multinational mining firms back in to his crisis-wracked country, but up to 100,000 illegal miners backed by armed gangs stand in the way of their getting to the deposits.
The slumping property markets in many Chinese cities are generating one kind of boom: in legal disputes.
Thomas Russo, American International Group Inc.’s general counsel who earlier had been the top in-house lawyer at Lehman Brothers Holdings Inc., is retiring from the global insurer, according to an internal memo to employees.
Risk management, strategy and analysis written and compiled by Deloitte
Executives are finding that by focusing on strategic risks they are better equipped to identify what could undermine their future business, adapt to new challenges and take advantage of emerging opportunities. Andrew Blau, managing director, Strategic Risk Solutions, Deloitte & Touche LLP, and Henry Ristuccia, partner, Global Governance, Regulatory and Risk leader, Deloitte Touche Tohmatsu Limited, discuss the barriers to recognizing and responding to strategic risks and outline some of the tools available to help harness them.
Organizations that have undergone an investigation for sanctions compliance are more likely to recognize the importance of regularly assessing and updating compliance programs, as well as testing sanctions screening systems, according to an online survey of 107 executives conducted by Deloitte Financial Advisory Services LLP. Companies that focus on these issues not only can increase the effectiveness of their sanctions compliance program, but they also could potentially present a stronger defense should the company fall under regulatory scrutiny, the survey found.
An executive transition is a good opportunity to create a communications program to help achieve objectives, yet new CxOs often struggle to put in place a leadership communication strategy that can help influence stakeholders. Many find communications support is scarce and, when available, lacks a systematic approach. New C-level executives can use a simple model to help create and execute a disciplined communications program that aligns to their core objectives. The model requires establishing clarity around nine key elements: priorities, audiences, audience-specific objectives, messages, packaging, channels, delivery, frequency and feedback.
The year started with a bang. Financial market volatility soared in the first two months of 2016, driven by uncertainty around several key factors influencing the global economy. However, as the first quarter came to an end, volatility appeared to have abated somewhat, although uncertainty never seems to go away. In the second-quarter 2016 "Global Economic Outlook," Deloitte economists try to reduce that uncertainty—or at least explain the factors driving it.
A newly permanent tax provision includes a favorable five-year recognition period for built-in gains following a conversion from a C to S corporation. The shortened recognition period is meaningful to many small business owners and gives S corporation shareholders more flexibility regarding the timing and tax structure of a sale transaction and could significantly influence the net value derived by company owners. Learn more about the evolving tax landscape with regard to S corporations and considerations related to tax structure and alternative elections.
The safety features designed to protect cars from collisions are part of a growing list of automobile components that expose automakers and drivers to cyber risks. From sensors in collision-warning systems to anti-lock brakes, entry points abound, and the attack surface on cars is expected to expand as automobiles become increasingly connected. In addition, researchers have highlighted potential privacy invasions: By exploiting weaknesses in wireless communications systems or in devices that connect directly to cars, such as smartphones, hackers could conceivably gain access to data stored on a vehicle that describes its owner’s driving habits, location or daily schedule.
Click to see corruption measures by country
