We peruse the Internet headlines so you don’t have to. Here are the recent headlines (and links) we felt newsworthy:

Changes to data protection laws ‘will give company bosses the shivers’ - MPs are considering changes to the law that would make chief executives directly responsible for safeguarding the public’s personal data and make the improper or careless treatment of personal information a criminal offence.

Tip-offs will produce new wave of data security scandals, watchdog tells MPs - Ministers are braced for a new wave of "Datagate" scandals after the Government’s information watchdog said he was investigating several possible breaches of data protection laws.

PCAOB Proposes Relying on Global Inspectors - The auditor watchdog may choose to let its international counterparts take over some of the sniffing.

FASB issues new M&A accounting standard - The rules, known as FAS 141 and FAS 160, are intended to simplify and converge with international rules on how companies account for mergers, acquisitions, noncontrolling interests and other business combinations in financial statements.

Cox Will Be Punished Over Proxy Access - He will hear from public pension funds that he’s anti-investor. Congressmen opposed to the action will sound off and perhaps call him to Capitol Hill to explain himself.

FASB Could Become Branch of IASB - FASB has not only been meeting to discuss accounting convergence with the IASB, but also has been having separate bilateral meetings with regulators in China, Japan and other countries, according to Herz, but he acknowledged that there are national pride issues to overcome, as well as political barriers.

Siemens restructures after corruption claims - The restructure follows a filing to the SEC, saying it had identified ‘material weakness’ in its internal controls over financial reporting which could affect its ability to report its results accurately and that its anti-corruption controls were insufficient to prevent managers from misusing funds.