‘Enforcement 40′ for 2017
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At Large: The cobra effect is an enemy of compliance | The FCPA Blog
Getting what you pay for but not what you hope for is also known as the cobra effect. During colonial rule in India, British officials came up with a plan to reduce the number of dangerous cobras in Delhi. They offered a bounty for every dead snake. Over time, more and more dead cobras were […]
Con Man Barry Minkow Docu-Series In Works With The Content Group – Deadline
Jodi Flynn, President of The Content Group, will exec produce alongside Steve Michaels and Sami Abdou. Flynn said, “Barry’s life is a real-life house of cards story; from boy phenom to Ponzi scheme, from redeemed pastor to insider trader – you can’t write it. We have unprecedented access to tell his point of view, not just the […]
Bitcoin Deemed ‘Money’ Under D.C. Financial Services Law (2)
The virtual currency known as Bitcoin is a form of “money” covered under the Washington, D.C., Money Transmitters Act, a federal court said Friday. The court declined to dismiss criminal charges against Larry Dean Harmon, the operator of an underground Bitcoin trading platform, for running an unlicensed money transmitting business under D.C. law and for […]
Finablr appoints law firm Skadden to investigate potential misconduct
Finablr has appointed law firm Skadden to help investigate potential wrongdoing and theft within the payments group as it seeks answers about £1bn of undisclosed debt discovered on its balance sheet earlier this year. UAE-based Finablr is part of the business empire of BR Shetty, who floated the group in London last year at a […]
June 25 Webcast: COVID-19 Pandemic-Related Compliance, Financial Reporting & SEC Enforcement Considerations
Please join Marion Duffy, Keith Halverstam, Alok Khare, Ryan Maierson, Rob Malionek, and Todd Rahn for this free webcast.
U.S. Supreme Court rebuffs investors’ bid to block Madoff trustee lawsuits – Reuters
The U.S. Supreme Court on Monday refused to hear a bid by major banks and companies including Koch Industries Inc to prevent a trustee chasing money for victims of imprisoned Ponzi scheme swindler Bernard Madoff from recouping funds that were transferred overseas. The justices left in place a lower court’s ruling that revived dozens of […]
What Hath Covid-19 Wrought? A New Skill Set Required for Compliance: Part 1 – Compliance ReportCompliance Report
The Coronavirus health crisis has wrought many changes in the business world and corporate compliance. Over the next few blog posts, I want to explore in some depth what I see are the key changes for the Chief Compliance Officer (CCO), compliance professional and compliance programs as we move to reopening the country and world […]
NYSE floor reopens after coronavirus shuts historic Big Board for two months
The New York Stock Exchange trading floor, closed since March 23, is partially reopening on Tuesday. “I’m ready,” floor trader Jonathan Corpina of Meridian Equity Partners said. “We have been waiting a long time, we are prepared. Our customers are ready.” Corpina acknowledged some trepidation about returning, a feeling of “walking into the unknown.” via […]
“Silent Cyber” and Fiduciary Liability Claims | The D&O Diary
As I have noted in prior posts (most recently here), an important concern these days for insurance industry observers and commentators is “silent cyber” — that is, the coverage for cyber-related losses under traditional property and casualty insurance policies, as opposed to purpose-built cyber insurance policies. For example, in one recent case (discussed here), a […]
SEC Enforcement Division: “Business as Usual” as Securities Enforcement Leaders Gather Virtually for Securities Enforcement Forum West 2020
Like most of the rest of the world, the speakers and attendees at Securities Enforcement Forum West 2020 last week had to adapt this year by trading in their microphones on the stage of a grand ballroom for an array of home offices and Zoom backgrounds. But the panels themselves, several of which have become […]