Doug Cornelius on compliance for private equity real estate
These are some of the compliance-related stories that recently caught my attention. ‘I had a moral duty’: whistleblowers on why they spoke up by Teri Pengilley, Christopher Thomond , Murdo MacLeod, Sarah Lee and words by Caitlin Disken in The Guardian To mark the 25th anniversary of the whistleblowing charity Protect (formerly known as Public … Read more »
It looks like the testimony will not be subtle at the Senate Banking Committee today entitled: Exploring the Cryptocurrency and Blockchain Ecosystem. Peter Van Valkenburgh, Director Of Research at Coin Center, spends his time trying to explain blockchain by calling it decentralized computing. I’m going to guess that his presentation falls on ears that have … Read more »
Todd Hitt wanted to be big-time, but his lies have landed him in handcuffs. He claimed that the firm he founded, Kiddar Capital, had over $1.4 billion in assets under management, offices in Falls Church, Houston, Palm Springs, and London, and was put $6 million of the firm’s money into developing a Herndon, Virginia building … Read more »
Jeffrey Lewis’s first novel is speculative fiction with a terrifying title: 2020 Commission Report on North Korean Nuclear Attacks Against the United States. It’s attempting to give us hindsight about the future. Obviously, from the title, things go wrong. Very wrong. Mr. Lewis is expert on the North Korean nuclear weapons program. He is the Director … Read more »
These are some of the compliance-related stories that recently caught my attention. The Knowledge Transfer Equation by V. Mary Abraham But how do we transfer knowledge effectively? The answer Davenport & Prusak offer may not be exactly what you were looking for: “The short answer, and the best one, is: hire smart people and let … Read more »
Steven Peikin, Co-Director of the SEC’s Division of Enforcement gave an encyclopedic description of the Remedies and Relief in SEC Enforcement Actions at PLI’s White Collar Crime symposium. The speech was meant to address the effectiveness of enforcement actions. He wanted to point out that the number of enforcement actions or the total amount of … Read more »
Say you run a trading platform and lots of your traders lose money. Why not just take their money for yourself instead of them losing it to the market? For one, that’s stealing. But apparently that didn’t stop Jeffrey Goldman, Naris Chamroonrat, Christopher Eikenberry, Ran Armon, Adam Plummer, and Yaniv Avnon from doing just that. They set up … Read more »
Don’t sell it if it doesn’t work right. That’s an easy lesson learned by Aegon USA, its CIO and Director of New Initiatives. Unfortunately, they were a subadvisor to Transamerica, who had to pay the biggest fine out of the bunch. Transamerica offered, sold and managed quantitative-model-based mutual funds, variable life insurance investment portfolios, variable … Read more »
On August 7, 2018, Elon Musk, the CEO of Tesla, tweeted to his 22 million Twitter followers that he could take Tesla private at $420 per share. There turned out to be little to no truth behind that public announcement. Regardless, Tesla’s stock price rose 6% on increased volume. It took only a month and … Read more »
Add Bad Blood to the top of your to-read list. Bad Blood tells the terrible story of Theranos and its founder, Elizabeth Holmes. She took the Silicon Valley habit of vaporware and “fake it ’til you make it” to medical devices. The Theranos machines were unreliable, if they worked at all. Bad software will mess … Read more »