AIG: A Timeline to the End of the SEC Probe
It had to happen sometime. This morning it was announced that U.S. regulators have closed an investigation of AIG and some of its executives over the insurance giant’s near collapse that led to a $182...
View ArticleFinancial Reform and Regulatory Expansion
Whether you like it or not, the Dodd-Frank Wall Street Reform and Consumer Protection Act is now law. Passed by the Senate finally last week and signed by President Obama yesterday, financial reform...
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One Reason the SEC Can’t Regulate Wall Street
Regulators, particularly those within the SEC, took a lot of criticism for their inability to prevent the financial crisis in 2008. And rightly so. The complex CDOs and credit default swaps were all...
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How Conflicts of Interest Hinder Offshore Drilling Regulation
Business will never embrace regulation. The market yearns to be free and regulation, most of the time, places restrictions on unbridled capitalism. Some rules improve the competitive landscape for...
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Officer Requirements When Blowing the Whistle on SEC Violations
Over at Risk Management, we have a new article on some of the considerations corporate officers must consider before blowing the whistle on their own companies. With the new SEC Whistleblower Program,...
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RMORSA Part 4: Risk Monitoring, Control & Action Plans
The fourth step of ORSA implementation, risk monitoring, control, and action plans illustrates the importance of adhering to best practices when executing risk culture and governance, identification...
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Cultivating a Reporting Culture
While many organizations view whistleblowers as disgruntled employees looking for revenge and monetary rewards from the SEC, this is generally not the case, according to a recent study. According to...
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Wells Fargo: What Should Have Happened
When Wells Fargo fired 5,300 employees in September for inappropriate sales practices, then-CEO John Stumpf approached the scandal with an outdated playbook. In response to the $185 million in fines...
View ArticleGreenberg, New York State Settle Long-Running Civil Case
One of Wall Street’s longest-running dramas closed Feb. 10 as New York State and Maurice “Hank” Greenberg finally ended a legal clash which began in 2005 under the stewardship of then Attorney General...
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Compliance in 2018: Q&A with James Reese of the SEC
The Securities and Exchange Commission (SEC) recently named James Reese as the Chief Risk and Strategy Officer for the Office of Compliance Inspections and Examinations (OCIE), which also leads the...
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