Tag: SEC

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Everything Compliance

Episode 87, the Award-Winning Edition

Welcome to the only award winning roundtable podcast in compliance. Today, we are thrilled to have our newest panelist Karen Woody join us as a permanent panelist. The entire gang was also thrilled to be honored by W3 as a top talk show in podcasting.

 We end with a veritable mélange of shouts outs and one epic rant.

1. Karen Woody talks about the ‘wild west’ of cryptocurrency and the regulatory environment growing up around it. Karen has a shout out domestic tourism in Brown County Indiana.

2. Jay Rosen discusses the morally bankrupt culture at Facebook and how the company can begin to comeback from the abyss. Rosen shouts out to Josh Allen and the Buffalo Bills for being one of the best teams in the NFL this season and advises long-suffering Bills fan Lisa Fine to ‘enjoy the ride’.

3. Matt Kelly discusses the recent speech by SEC Director of Enforcement, Gurbir Grewal in which Grewal previewed an increase in penalties in enforcement by the SEC. Kelly shouts out to Kareem Abdul Jabbar for his evisceration of NBA players in general and Kyrie Irving in particular for their selfish attitudes in failing to get Covid vaccinations.

4. Jonathan Armstrong looks at whistleblowing in the EU. He shouts out to Emma Raducanu for her stunning win in the US Open this year.

5. Tom Fox rants about Waller County and its lack of criminal charges against drivers who intentionally or negligently run over cyclists.

The members of the Everything Compliance are:
•       Jay Rosen– Jay is Vice President, Business Development Corporate Monitoring at Affiliated Monitors. Rosen can be reached at JRosen@affiliatedmonitors.com
•       Karen Woody – One of the top academic experts on the SEC. Woody can be reached at kwoody@wlu.edu
•       Matt Kelly – Founder and CEO of Radical Compliance. Kelly can be reached at mkelly@radicalcompliance.com
•       Jonathan Armstrong –is our UK colleague, who is an experienced data privacy/data protection lawyer with Cordery in London. Armstrong can be reached at jonathan.armstrong@corderycompliance.com
•       Jonathan Marks is Partner, Firm Practice Leader – Global Forensic, Compliance & Integrity Services at Baker Tilly. Marks can be reached at jonathan.marks@bakertilly.com

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Compliance Into the Weeds

Expansive SEC Enforcement in the Wind


Compliance into the Weeds is the only weekly podcast which takes a deep dive into a compliance related topic, literally going into the weeds to more fully explore a subject. This week Matt and Tom take a deep dive into a recent speech by SEC Director of Enforcement Gurbir Grewal and the likely increase in a more expansive use of SEC enforcement.
Some of the issues we consider are:

  • What is the purpose of SEC penalties; to penalize or to deter others?
  • How did SEC Commissioner Crenshaw presage this talk?
  • What about a potential change in DOJ penalties? Its approach and focus?
  • Are monitorships back on the table?
  • What about the CFPB? Will Directors and Officers be held accountable or just the low level minions?

 Resources
Matt in Radical Compliance
More on SEC Penalties Policy Shift

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Compliance Kitchen

SEC Issues


The SEC charges companies with illegal offering of digital assets and stocks; the Kitchen takes a closer look what is cooking in the securities area.

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Coffee and Regs

Regulator Insights & SEC Exam Priorities

Regulator Insights & SEC Exam Priorities

 
In this episode, CSS’s team of CCO experts Korrine Kohm and Dan Haynes discuss regulatory examinations, SEC priorities and trends and insights into how compliance teams can be more proactive before the regulators come knocking.
 

 

About Our Guest Speakers:


Korrine Kohm is CSS’s Director of Retail Wealth Manager Services. Prior to CSS, Korrine was the Chief Compliance Officer and Head of Operations at Estabrook Capital Management where she was responsible for all compliance functions of this SEC-registered, $2.1B investment advisory firm. Korrine began her regulatory career while working at Allied Irish Bank (NY) in the Operations Department where she was a key member of AIB’s Compliance Committee, responsible for ensuring compliance with Federal and State regulations. An active member of the National Society of Compliance Professionals for over 10 years, Korrine earned her Investment Adviser Certified Compliance Professional (IACCPTM ) designation in 2006, is a member of the Association of Certified Fraud Examiners, and obtained her Certified Fraud Examiner designation. In addition to her experience in compliance and banking, Korrine began the 16-week intensive training course in Quantico, Virginia, to become a Special Agent with the Federal Bureau of Investigation. She has particular experience in crafting customized policies and procedures, developing and implementing compliance programs, conducting on-site compliance reviews, acquisition due diligence reviews, risk assessments and mock SEC examinations. She routinely councils clients on various regulatory matters, including SEC registration issues, social media and advertising, policies related to diminished financial capacity, disclosures and the annual review process.
 

 

 
Dan Haynes joined CSS in 2017 providing consulting services to investment advisers, registered investment companies and private investment funds. Prior to joining CSS, Dan was the Chief Compliance Officer for Summit Strategies Group. Summit is a large institutional pension consultant in the Midwest with multiple private funds – ultimately around $180 billion in assets under administration. Dan implemented several aspects of, and oversaw the entire compliance program. His time there resulted in experience in NFA/CFTC registration and regulation, Private Fund oversight, and the pension consulting world overall. Prior to Summit, Dan was the Chief Compliance Officer for Buckingham Asset Management and BAM Advisor Services. Dan is also a member of the Charles Schwab Compliance Advisory Board.
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Compliance Kitchen

SEC and Cybersecurity Deficiencies


In this episode, the Kitchen looks at a recent SEC charge of 8 firms in 3 actions with deficient cybersecurity procedures.

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Daily Compliance News

September 16, 2021 the $114 Million edition


In today’s edition of Daily Compliance News:

  • FBI failures in Nassar probe. (Houston Chronicle)
  • SEC awards 2 whistleblowers $114MM? (WSJ)
  • Lawyer arranged hit, on himself. (BBC)
  • DOJ alleges fraud in medical analytics. (NPR)
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Compliance Into the Weeds

High Calories Compliance Lessons from Kraft Foods


Compliance into the Weeds is the only weekly podcast which takes a deep dive into a compliance related topic, literally going into the weeds to more fully explore a subject. This week Matt and Tom take a deep dive the recent SEC enforcement action involving Kraft Foods. While the subject matter of the enforcement action was fraudulent expense recognition, it turns out the real culprit was a corrupt culture. Some of the issues we consider are:
·      What were the underlying facts?
·      What does tone at the top really mean?
·      How does management cost cutting mantra lead to corruption?
·      Why is incentive based comp so deterius?
·      What did SEC Commissioner Crenshaw say about this enforcement action?

Resources

Matt in Radical Compliance

Food For Thought From Kraft Foods

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Daily Compliance News

September 1, 2021 the Business Travel edition


In today’s edition of Daily Compliance News:
·       Adrienne Harris picked to lead DFS. (WSJ)
·       SEC sanctions firms for email break-ins.  (WSJ)
·       Is business travel doomed? (Bloomberg)
·       What’s in your solar panel supply chain? (WaPo)
 

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FCPA Compliance Report

Karen Woody on Comings and Goings at the SEC

In this Episode of the FCPA Compliance Report, I am joined by Professor Karen Woody to look at the current state of the SEC in the Biden Administration. Highlights of this podcast include:

A.    SEC-Early Impressions

  1. SEC debate in the public arena between the commissioners.
  2. Early impressions of SEC Chair Gensler.
  3. What are some of the top priorities you have seen so far from the SEC?
  4. Has new enforcement life been breathed into the SEC?

B.     Specific Topics

  1. Where will SEC enforcement go on SPACs? Will Lordstown Motors be a harbinger or simply just another accounting fraud?
  2. Non-bribery FCPA enforcement under books and records/internal control provisions. Does Tandy Leather continue this trend?
  3. What, if any role will SEC have in crypto regulation as a commodity? Or is it a financial instrument of some type?
  4. What other areas you are watching from the SEC for either guidance or enforcement?

C.     Into the Future

  1. How, if any has the Coronavirus health crisis changed the SEC’s approach?
  2. When might we see the SEC under Gensler start to hit its stride?
Categories
Compliance Kitchen

SEC Whistleblower Award


In this episode, we look at the SEC’s awards to whistleblowers of over $4M and a recent update from the US Customs as they issue a Withhold Release Order on foreign origin products due to forced labor harvesting practices.