The compliance profession has seen a significant transformation in responsibility, accountability and technology since the financial crisis erupted in 2008.
Julie DiMauro: A compliance plan to keep forced labor and human trafficking out of your supply chains
In January, the U.S. Supreme Court decline to consider an appeal by three companies — Nestle SA, Cargill Inc., and Archer Daniels Midland Co. — that sought to dismiss a lawsuit alleging they aided and abetted child slave labor on coca plantations in Africa.
In November, the Department of Justice confirmed the rumors that had circulated all fall about an appointment it was making in its Fraud Section: Hui Chen was selected to occupy the new role of in-house compliance counsel.
The use of corporate monitors by judicial and regulatory government agencies to verify an organization’s compliance with settlement agreements and orders resolving corporate accountability continues to rise. The growing use of monitors has raised questions about the privacy of their reports and the public’s access to their findings.
Reports of trainee bankers cheating on internal exams at JP Morgan’s New York office and at Goldman Sachs in London and New York point to the need to prepare for a future in which training and compliance are merged.
On September 15, the SEC’s Office of Compliance Inspections and Examinations (OCIE) issued a new cybersecurity risk alert. In it, the SEC reemphasized its intention to conduct a second phase of cybersecurity examinations of investment adviser firms.
In my prior post for the FCPA Blog, I talked about government and industry guidance for avoiding elder abuse in sales practices. In this post, I’ll discuss best practices for disclosure in general and a compliant sales function.
According to research collected by the North American Securities Administrators Association (NASAA), although people age 60 and older make up 15 percent of the U.S. population, they also account for about 30 percent of fraud victims.
Outsourcing parts of a compliance program to outside consultants has become a strategic move for some financial institutions as they strive to keep pace with regulatory directives and their evolving risk profile.
I was surprised to hear some financial services industry experts say that many large firms don’t always know who their third parties are and what exactly they are doing for the firm.