Early GRC Lessons From SVB


Life comes at you fast, a point that many tech companies and banks are contemplating today thanks to the collapse of Silicon Valley Bank. Unfortunately this sorry debacle also raises many issues for the larger community of risk managers, regulatory compliance officers, and auditors, so let’s take a look. As I write these words on…

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House GOP Preps Regulatory Reform Axe


Compliance professionals may want to keep a sharp eye on Congress this week—House Republicans will be tinkering with regulatory reform legislation. Brace yourselves. The markup, as these sessions are called, will happen in the House Financial Services Committee starting on Tuesday. Lawmakers will chew over the so-called Financial Choice 2.0 Act (also known by its…

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Dodd-Frank Reform Starts Coming Into View

didd-frank reform

Word has emerged about how House Republicans want to revise the Dodd-Frank Act and repeal various financial regulations. Compliance officers wondering how these ideas might affect them can dive in. The key player here is Rep. Jeb Hensarling, chair of the House Financial Services Committee. Hensarling first proposed a “Financial Choice Act” last year to…

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Conflicted Feelings About Conflict Minerals

Don’t die of shock, but a new government report finds that compliance with the Conflict Minerals Rule is still sputtering. That’s the overall conclusion of the latest Government Accountability Office review of conflict minerals compliance, which is pretty much the same conclusion as last year’s GAO report. Companies are marginally better at determining where their…

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Corporate Disclosure, Social Policy, and Dirty Pool

Several times now I’ve mentioned that the Dodd-Frank Act “works” in the sense that it has brought more stability to the financial system, even if other parts of the law are wrong-headed. Today, let me talk about one of those wrong-headed parts: the Conflict Minerals Rule. Or more accurately, let’s use the Conflict Minerals Rule…

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How We’re Tackling Systemic Risk in the Financial System Today

I had the good fortune yesterday to participate in a briefing with a few lawyers from Quarles and Brady, a mid-sized firm based in Wisconsin that handles corporate law. We were there to talk about compliance issues facing the financial services industry in 2016—and you’ll be happy to know that compliance officers will have no…

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Reforming Dodd-Frank (When the Law Works)

Let me begin this column with a personal disclosure: I refinanced my house in December. So I have first-hand knowledge of just how frustrating compliance with modern mortgage lending can be, at least on the consumer side. Plenty of compliance officers also talk about the frustration of compliance burdens on the lender side, and how…

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