There is clearly an Ebola scare happening in the United States. It’s a nasty disease and that has attracted widespread media attention. Is there anything your compliance team should do about Ebola? I’ll assume that your firm does not have operations or personnel in West Africa. If it does, then yes, you should be concerned … Read more »
Kleptocracy Asset Recovery Initiative
Last week, the son and heir-apparent to the president of Equatorial Guinea agreed to give up $34 million in assets as part of a settlement with the U.S. government over corruption claims. This was the latest attack by the Department of Justice’s Kleptocracy Asset Recovery Initiative. According to the Wall Street Journal, the Kleptocracy Asset … Read more »
Weekend Reading: The Skies Belong To Us
It’s hard to imagine in these days of TSA security, but over a five-year period starting in 1968, hijackers seized commercial jets nearly once a week. Brendan I. Koerner captures this piece of history in The Skies Belong to Us: Love and Terror in the Golden Age of Hijacking. Mr. Koerner uses the hijacking of … Read more »
Compliance Bricks and Mortar for October 17
These are some of the compliance-related stories that recently caught my attention. Mathew Martoma’s Wife Fights to Keep Couple’s Florida Home, Millions in Cashby Bruce Carton in Compliance Week Martoma will begin serving his prison term next month, but his wife, Rosemary Martoma, is now challenging the $9.4 million forfeiture order. This week Rosemary Martoma asked the court to … Read more »
Don’t Forge Documents You Give to SEC Investigators
You’re bound to make a mistake. Don’t make the mistake even worse by faking a document you submit to the Securities and Exchange Commission in order to cover your original mistake. Back in 2012, the SEC brought charges against Waldyr Da Silva Prado Neto, a citizen of Brazil who was working for Wells Fargo in … Read more »
Can an ATM Machine Be a Security?
Nationwide Automated Systems offers turnkey ATM solutions. A turnkey ATM program addresses the need for ATM service, repair, system monitoring, and cash replenishment. Typically the ATM provide will split some of the fee income with the property owner where the ATM is located rather than pay a fixed rent. To raise capital Nationwide create a … Read more »
Compliance Compensation Survey
The results of the 2014 IA Compliance Compensation Survey, sponsored by IA Watch and the National Society of Compliance Professionals, have been released. You can visit the IA Compliance Compensation Results website http://www.salary.iawatch.com/. Use the results to benchmark and compare your compensation against peers in your area, plus the top 30 most populous metropolitan regions … Read more »
Weekend Reading: Issues Related to State Voter Identification Laws
The claim by advocates of voter identification laws is that the requirement is put in place to prevent voter fraud. The question is whether it is too burdensome to mandate a state-issued photo ID. The underlying subtext is that Republican controlled state legislatures are putting the voter ID laws in place because it will disproportionately … Read more »
Compliance Bricks and Mortar for October 10
These are some of the compliance-related stories that recently caught my attention. Yet Another Study Debunks ‘Revolving Door’ Worries by Bruce Carton in Compliance Week Although I have followed the revolving door issue closely for many years, I have never seen any actual evidence that the “SEC lawyers will go easy on firms to get … Read more »
Lawsuit on SEC’s Political Contribution Rule Hits Some Snags
The New York Republican State Committee and the Tennessee Republican Party brought suit against the Securities and Exchange Commission challenging its political contributions rule for investment advisers, Rule 206(4)-5. The complaint seeks an injunction against the enforcement of the rule’s political contribution restrictions on contributions to federal candidates. The US District Court for the District … Read more »