The banking sector is experiencing a “growing challenge” recruiting, retaining, and replacing compliance staff with the desired level of knowledge and experience, according to the Office of Comptroller of the Currency’s “Semiannual Risk Perspective” report, released June 23. Staffing struggles in the banking industry come at a time when compliance Read More
The Securities and Exchange Commission is investigating disclosures made by Elon Musk, CEO of Tesla Motors, concerning his plans to acquire Twitter Inc. and his accumulation of shares in the social media platform, the agency confirmed in a letter sent to Musk last month. The SEC filed the letter on Read More
Securities industry regulator FINRA has hit Credit Suisse Securities with a $9 million fine for failing to comply with rules requiring firms to disclose potential conflicts of interest when issuing research reports and for violating the Securities and Exchange Commission’s Customer Protection Rule. As part of the settlement, FINRA also Read More
Leveraging machine learning and advanced anomaly detection to address the overwhelming flood of digital communications data Since email first revolutionized the way professionals communicate with each other, the proliferation of faster and more sophisticated digital communication tools for powering business has only continued to expand. It’s well known that companies Read More
Look over any list of big-company chief compliance officers, and you will see several that also have the title of chief audit executive, head of risk management, and other roles. With so much responsibility already residing with those who oversee compliance, it’s a wonder they have time for anything else. Read More
The recent hack of the Colonial Pipeline, which has crippled the transmission of fuel in the Southeast United States, serves as a stark and alarming reminder to all businesses of the vulnerability of information systems to security breaches, hacks, and ransomware attacks. Over the last several years, most businesses have Read More
Companies are taking a closer look at how to effectively manage and mitigate compliance risks, especially at a time when many compliance programs are under the microscope from regulators while also dealing with the effects of a global pandemic. The Committee of Sponsoring Organizations (COSO) has released a new publication, “Compliance Read More
When it comes to preventing or detecting fraud, whistleblower hotlines remain among the best protection money can buy. They can also be an important tool for internal auditors to assess fraud risk and provide information that can increase the quality of audits and should be assessed on a regular basis. Read More
