SEC Launches Crypto Push

crypto

The Securities and Exchange Commission made three notable enforcement moves in the cryptocurrency world last week, clearly sending a signal to this Wild West part of the capital markets that the SEC wants to bring some law and order to town. First, the agency announced that it is adding 20 enforcement agents to its cyber…

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Compliance Jobs Report: May 6

compliance jobs

Another week, another big Compliance Jobs Report. We have compliance officers coming or going at AB InBev, TikTok, Deutsche Bank, and others; also a bevy of promotions at American Express, Cardinal Health, LyondellBasell, and many more. Job leads this week are up and down the East Coast in biotech, insurance, and power equipment; and our…

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JPMorgan Replies on Retaliation Claim

JPMorgan

We have an update on that lawsuit filed last year by a former compliance officer at JP Morgan, who says she was fired for raising concerns about weaknesses in the bank’s compliance program. JPMorgan has now filed a motion to dismiss, and depicts the former compliance officer as a terrible employee who was fired for…

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An Update on Diversity Programs

diversity

The Securities and Exchange Commission has published an analysis of diversity and inclusion programs at broker-dealers, investment advisers, and other financial firms, providing yet another reference point for other businesses about how you might structure your own D&I efforts and what regulators would like to see from them. The report was released Monday by the…

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ComEd Gives a Compliance Update

ComEd

One of the more colorful compliance stories from 2020 was Commonwealth Edison, the Chicago-based public utility which paid $200 million that year to settle corruption charges. ComEd also agreed to implement a raft of compliance program improvements — and last Friday, ComEd filed its first ethics and compliance report to talk about its progress so…

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Compliance Jobs Report: April 29

compliance jobs

The Compliance Jobs Report this week has lots of updates in financial services and healthcare, including MUFG and Cresset Partners in the United States, several large banks overseas, and healthcare businesses in Pennsylvania, Nevada, and elsewhere. We also have job leads in energy, children’s hospitals, and ride hailing services; and our Meme of the Week…

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SEC Sues Vale on Dam Disaster

The Securities and Exchange Commission is bringing charges against Brazilian mining company Vale, accusing the company of misleading investors for years about the safety of dams it built and managed in Brazil, until the Brumadinho dam collapsed in 2019 and killed 270 people in one of the worst mining disasters in history. The SEC filed…

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More Lessons on Sanctions Programs

sanctions

Anyone looking for systemic failures in sanctions compliance and how a company might rectify those issues, look no further than Toll Holdings and the settlement it reached with U.S. regulators on Monday. Toll, a freight forwarding and logistics business based in Australia, agreed to pay $6.1 million to the Office of Foreign Assets Control to…

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Explaining Compliance in Boom Charts

boom

You might not have noticed this yet, but booms are having a moment these days. That’s a great trend for compliance, audit, and risk professionals. Specifically, people are using the phrases “left of boom” and “right of boom” more often, usually to describe how governments, businesses, and other organizations respond to sudden events — the…

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Russia’s Effect on Supply Chains, Compliance Risk

supply

The Ethics & Compliance Initiative hosted its annual conference this week, including a panel discussion about Russia’s war against Ukraine and its long-term implications for corporate ethics and compliance. The speakers spooled out a bundle of useful observations, so let’s take a few minutes to recap those points and ponder them a bit more.  The…

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