Compliance Bricks and Mortar for November 1

candy bricks

My kids and I are suffering from a candy hangover this morning after sweeping through the neighborhood trick-or-treating. I’ll try to regain my focus by reading some of these compliance-related stories that recently caught my attention.

Bold and Unrelenting Enforcement from the SEC: A Six Month Review by Terence Healy in The CLS Blue Sky Blog

Mary Jo White promised Congress she would pursue a “bold and unrelenting” enforcement program as Chairman of the Securities and Exchange Commission (“SEC”). In public remarks last week, White reiterated her desire for the Enforcement Division “to be everywhere” and to be “felt and feared” in areas beyond where its resources can reach. Now, six months into her tenure, it is time to take measure of what this new enforcement model may mean for public companies.

Red Sox Win the World Series: Character Does Matter – in Sports and Compliance by Tom Fox

The Red Sox certainly showed their character after last year’s miserable season. Seemingly disdaining the current analytical mania in professional baseball, the brought seasoned veterans, who no other teams ostensibly wanted, into the clubhouse and, much like the Phoenix, rose from last years’ ashes to claim the championship. So character does matter. It matters in baseball and I would posit it matters in business.

SEC to take ‘swipe’ at RIAs that have never been examined by Trevor Hunnicutt in Investment News

The Securities and Exchange Commission plans to make examining the estimated 4,000 advisers who have never been visited by regulators an enforcement priority next year, according to Andrew J. Bowden, director of the SEC’s Office of Compliance Inspections and Examinations. Speaking in Manhattan on Thursday, Mr. Bowden said the commission will zero in on about half of the firms that have never been examined, a group that includes those that have been registered for more than three years and are based in the United States.

Goldman, Feeling Robbed, Still Has to Pay for Accused’s Defense by Peter J. Henning in DealBook

A victim of a crime would never be expected to pay for the perpetrator’s lawyer to defend the case. But corporate law can be counterintuitive, and Goldman Sachs found itself on the wrong side of a court decision that found that the bank’s bylaws require it to advance the legal fees of a former employee who has been accused of stealing its computer code.

The image is the Kids Soap – Candy Bricks by ajsweetsoap available from Etsy.