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DLA Piper Hit by Cyber Attack, Phones and Computers Down Across the Firm | Legaltech News
DLA Piper has been hit by a major cyber attack, which has knocked out phones and computers across the firm. The shutdown appears to have been caused by a ransomware attack, similar to the WannaCry attack that hit organizations such as the NHS last month. DLA’s phone system has not been working for much of […]
Criticism Mounts on Madoff Compensation Fund – WSJ
The Justice Department is coming under criticism over a $4 billion compensation fund for Bernard Madoff’s victims that hasn’t handed out a cent four years after its creation. In a Justice Department budget hearing this week, Deputy Attorney General Rod Rosenstein told a congressional panel he would “figure out why it’s taking so long” for […]
Internal Audit’s Critical Role in Cybersecurity | AccountingWEB
Organizations must constantly monitor cybersecurity practices, policies, and plans. This is where internal audit plays a crucial role. Once cybersecurity plans are created, organizations should enlist internal audit to do what it does best – test for effectiveness and efficiency of controls and protocols, and provide the board and management with assurance about those protections. […]
Now, Your Financial Advisers Will Have to Put You First (Sometimes) – The New York Times
The fiduciary rule — which was created under the Obama administration and has, for now, survived efforts to quash it — takes partial effect on Friday. That means all types of financial advisers, including brokers and insurance agents, must put their customers’ interests ahead of their own financial motives, at least when handling customers’ retirement […]
Highlights from Securities Enforcement Forum West 2017
Photos and highlights from Securities Enforcement Forum West 2017.
Ex-Obama Officials Find There’s No Place Like Their Old Law Firms – The New York Times
When a new administration comes to Washington, top government regulators flock to the exits to find new jobs, but they seldom have to look very far. A few parley their experience into corporate counsel jobs or trade up to a more rarefied law firm than the one they had left earlier. But most of them, […]
Steven Cohen’s Hedge-Fund Comeback Shoots for a Record Target: $20 Billion – WSJ
Steven A. Cohen is plotting a return to hedge funds with a giant number in mind: $20 billion. The billionaire trader, whose former firm pleaded guilty to criminal insider trading charges less than four years ago, wants to amass that amount as part of a new operation that is likely to launch as soon as […]
FINRA Considering Merging Enforcement Programs, Cook Says | Bloomberg BNA
The Financial Industry Regulatory Authority is considering combining two of its enforcement programs to better streamline its processes. Currently, FINRA has two separate enforcement programs, one in its member regulation group, which focuses on member firms and their employees, and another in its market regulation group, which oversees over-the-counter trading. “We are one team, and […]
Snapchat sued in federal court for allegedly lying ahead of IPO – Business Insider
A former employee who claims Snap Inc. lied to investors ahead of its initial public offering has escalated his lawsuit against the company and is seeking protection under whistleblower laws. via Snapchat sued in federal court for allegedly lying ahead of IPO – Business Insider
The Watchdogs Keeping Wall Street in Check – The New Yorker
Despite compliance’s reputation as a buzzkill profession, its status rose during the Obama Administration. Regulations implemented after the financial crisis created a need for internal watchdogs, as did the concern raised by prosecutions of banks and hedge funds for mortgage fraud, currency-market rigging, and insider trading. In 2014, the Wall Street Journal went so far […]