These are some compliance-related stories that recently caught my eye: “Is there anything connected with this accelerator that involves the security of the country?” by Chris Yeh in Adventures in Capitalism “It has only to do with the respect with which we regard one another, the dignity of man, our love of culture. It has [...]
Archive | September, 2011
Happy New Year
There is little similarity between Rosh Hashanah, one of the holiest days on the Jewish calendar, and the American midnight drinking bash and daytime football game.
Ethisphere and the New York Stock Exchange
This morning, the Ethisphere Institute is ringing The Opening Bell at the New York Stock Exchange with some of the NYSE-listed 2011 World’s Most Ethical Companies. I guess the NASDAQ companies are not invited.) The purpose is to recognize the connection between ethical business practice and increased business performance. NYSE-listed 2011 World’s Most Ethical Companies [...]
The Echoes of Madoff at the SEC
The Madoff scandal is one of the low points in the history of the Securities and Exchange Commission. Every Congressional hearing or SEC-basher inevitably uses the failure to catch Madoff as evidence of the ineffectiveness of the SEC. In a continuing journey down the rabbit hole, the SEC’s Inspector General David Kotz released his 123-page [...]
But the Computer Did It!
The Securities and Exchange Commission brought charges of securities fraud for concealing a significant error in the computer code of the quantitative investment model. I found this case to be interesting because it was not flawed human decisions, but flawed computer decisions. However, we still live in the age where computers do what we tell [...]
Compliance Bits and Pieces for September 23
These are some compliance related stories that recently caught my attention: Forgotten Bookmarks: Investment in Reading Pays Off by Michael Popek in Forbes I come across a lot of interesting items left behind in books, but I’d say that most of them don’t interest Forbes readers all that much. I hope this find will pique [...]
Was Full Tilt Poker a Ponzi Scheme?
The United States Government forced online poker sites to the fringes of the financial system. The U.S. government has long argued that online poker gambling is illegal under the Wire Act, a 1961 law that explicitly prohibits sports betting conducted over electronic communication. In 2006, Congress made it illegal for financial institutions to process funds [...]
Miscommunication
Are you speaking the same language as the rest of your firm? Do they understand your questions? Do they understand your answers? Miscommunication is at the root of many problems. Many compliance policies are written by lawyers, for lawyers. That may work fine once there is an investigation or a problem. But they do little [...]
Conflicts of Interest and Securitizations
The Big Short highlighted some of the difficulties of taking an investment position in a real estate downturn. The situation was taken a step further with Goldman Sachs’ help in putting together mortgage backed securities with the primary purpose of helping a client take an investment position that the securities will default. It turned out [...]
What Does a Criminal Look Like?
A group of Kentucky men would prefer to spend time in jail time rather comply with vehicle safety rules. As you can see from their booking photos, the men are Amish and belong to the Old Order Swartzentruber Amish group. They say their religious beliefs forbid the placement of bright orange safety triangles on the [...]
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