The Securities and Exchange Commission proposed a new rule that would require advisers to private funds to report information for use by the Financial Stability Oversight Council in monitoring risk to the U.S. financial system. Sections 404 and 406 of the Dodd-Frank Wall Street Reform and Consumer Protection Act requires the SEC to gather this [...]
Archive | January, 2011
Data Privacy Day
Data Privacy Day is January 28, 2011. There have events throughout the week to inform and educate us all about our personal data rights and protections. Here are some key reminders: Never Post or Share Personal Information such as a date of birth, personal address, or maiden name because identity thieves now friend as many [...]
Compliance Bits and Pieces for January 28
Here are some recent compliance-related stories that caught my eye: Compliance Professionals Ask Justice Department for Data Showing Programs Pay Off Corporate ethics and compliance officers want the U.S. Department of Justice to provide data “that identifies how often an effective ethics and compliance program yields a direct return in enforcement decisions,” according to three [...]
How to Find Answers Within Your Company – Would Quora Work?
Making sure that people get the right answer to questions is vital to the success of a business. From a compliance perspective, it’s important that questions in the compliance domain get answered correctly. It’s just as important that compliance professionals can find the correct answers to their questions. On one side you have GRC, trying [...]
Proposed “New” Standard for Accredited Investor
If you are involved in the private placement of securities, then you have been waiting to hear how the SEC was going to change the definition of “accredited investor.” Section 413(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act requires the definitions of “accredited investor” to exclude the value of a person’s primary [...]
SEC Study on Enhancing Investment Adviser Examinations
Now that most private funds managers are required to register with SEC as investment advisers, the SEC is considering abandoning them to regulation by FINRA. The SEC released the much anticipated report, a 40-page “ Study on Enhancing Investment Adviser Examinations” mandated by Section 914 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. [...]
What Caused the 2008 Crisis?: All the Devils are Here
Was it Fannie Mae? Was it the lack of regulatory oversight? Was it the rating agencies? Was it pure greed? Yes, yes, yes and yes. Plus, there were lots of other factors. Bethany McLean and Joe Nocera put together an insightful look at the many factors that created the housing bubble and amplified the destruction [...]
Attacking Wall Street in 1920
I don’t often include fiction books in my book reviews on this site. But I was drawn to The Death Instinct because its historic fiction is centered around an event on Wall Street. So I thought the book would be interesting for a compliance professional. A horse-drawn wagon passed through Wall Street’s lunchtime crowds on [...]
Compliance Bits and Pieces for January 21
Here are some recent compliance-related stories that recently caught my eye: The Swiss Compliance House: a Model for FCPA Compliance? by Thomas Fox The Compliance House is a model which has been developed by Swiss businesses to use as the foundation of effective compliance management by ensuring that by “binding values and appropriate compliance management [...]
The Role of Compliance in Criminal Cases
Plan Now or Pay Later. Compliance failures are expensive. Failures result in big fines, expensive investigative costs and expensive legal fees. Plus you end up diverting valuable management resources from managing the business to managing the damage. Executives would much rather be sitting in the boardroom than in a deposition. Compliance has become a key [...]
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