Seven Compliance Events to Watch in 2022

2022

Happy New Year, everyone! Whether you’re back in the office already or waiting in line for a covid test — the demands of corporate compliance march on, and Radical Compliance is here to chronicle it all.  2022 promises to be another bracing year for compliance officers on multiple fronts. So without further delay, it’s time…

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SEC Charges Taxi Lender With Fraud

fraud

The Securities and Exchange Commission has charged the head of a New York financial firm with fraud, saying he paid media consultants to write bogus stories and offered kickbacks to valuation firms, all to prop up a banking subsidiary that lent money to taxi drivers and held the cabbies’ medallions as collateral.  The driver of…

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Compliance Jobs Report: Dec. 23

compliance jobs

Our final Compliance Jobs Report of the year! We have news from Binance.us, Rite Aid, a few financial firms overseas, and Waud Capital, among others. We also have some work anniversaries to note, job leads in finance, construction, and cancer research; and our holiday-themed Meme of the Week! As always, thank you to all the…

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On Disclosure Controls and Rogue CEOs

Nikola Corp., a supposed maker of hydrogen-powered trucks and other vehicles, will pay $125 million to settle charges with the Securities and Exchange Commission that the company failed to prevent its now-indicted former CEO from making all sorts of baloney statements about the company’s prospects on social media. The SEC announced the settlement on Tuesday,…

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JP Morgan Pays $200M on Recordkeeping Failures

JP Morgan

JP Morgan has agreed to pay $200 million to securities regulators for “widespread and longstanding failures” to preserve employee communications in the bank’s broker-dealer unit, where bankers routinely talked shop using WhatsApp, personal email accounts, and text messages on personal devices.  The bank will pay $125 million to the Securities and Exchange Commission, the agency’s …

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Compliance Jobs Report: Dec. 17

compliance jobs

The Compliance Jobs Report this week has several compliance officers moving into general counsel roles, plus new hires and promotions at Credit Suisse, TechData, and American Advisor Group, and more. We also have a new compliance networking group launching in Italy; jobs in banking, insurance, and digital services; and our Meme of the Week goes…

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Study: CCOs Put DOJ Guidance to Use

compliance

A study released this week finds that most chief compliance officers are aware of, and appreciate, the guidance on effective corporate compliance programs that the Justice Department has churned out in recent years — although CCOs would like more examples from the department of decisions not to prosecute a company based on its compliance efforts. …

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Compliance Jobs Report: Dec. 10

compliance jobs

Another big Compliance Jobs Report this week! We have news from Westco, XPO Logistics, Google, Goldman Sachs, PwC, Citi, and lots more. We also have two audit and compliance executives moving onto corporate boards; and job openings in healthcare, medical devices, and lingerie.  As always, thank you to all the compliance people sending me tips…

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Gensler Gives SPACs the Side Eye

SPACs

SEC chairman Gary Gensler took special purpose acquisition companies to task again this week, devoting an entire speech to the governance and disclosure risks that SPACs pose to investors and arguing that SPACs must be beholden to the same investor protection rules that govern traditional IPOs. Gensler spoke Thursday morning at the 2021 conference of…

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Notes on Assessing Your Internal Controls

internal control

One of the Securities and Exchange Commission’s senior enforcement officials gave a pep talk in Washington this week about the importance of internal controls, and how a company should evaluate its internal controls this winter as the world tries to prevail over the disruptions of covid-19. The official was Matthew Jacques, chief accountant in the…

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