Compliance Bricks and Mortar for September 13

These are some of the compliance-related stories that recently caught my attention

Embattled J.P. Morgan Bulks Up Oversight by Monica Langley and Dan Fitzpatrick in the Wall Street Journal

J.P. Morgan Chase & Co., facing a host of regulatory and legal woes, plans to spend an additional $4 billion and commit 5,000 extra employees this year to clean up its risk and compliance problems, according to people close to the bank.

As part of a companywide effort, the bank is spending an additional $1.5 billion on managing risk and complying with regulations, including a 30% increase in risk-control staffing, these people said. In addition, it expects to add $2.5 billion to its litigation reserves in the second half of the year, these people said.

The 506(c) Seed Financing Blues by William Carleton

I know I can’t just take from any Joe
Investment in my fledgling startup co.

But come the 23rd this month, I hear,
It’s dope to advertise with brazen cheer

My need for funds. The only legal catch:
My purchasers must be accreds. (Well, natch.)

FCPA Compliance and Ethics Report: The weekly report on all things compliance related by Tom Fox

The FCPA Compliance and Ethics Report, Episode 3 Videoblog

SEC Names Paul Levenson as Director of Boston Regional Office

Mr. Levenson joins the SEC from the U.S. Attorney’s Office for the District of Massachusetts, where he is an Assistant U.S. Attorney and Chief of the Economic Crimes Unit that is responsible for investigations and prosecutions of financial crimes. Mr. Levenson has successfully coordinated many criminal investigations with the SEC’s Division of Enforcement during his tenure in the U.S. Attorney’s Office. He will begin working at the SEC in late October.


Image is Germany Luebeck townhall bricks (detail) by Arnold Paul

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