Any number of factors contributed to our economic collapse—credit default swaps, mortgage-backed securities, Ponzi schemes, subprime mortgages, and all sorts of other things that most of us had never heard of a year ago. But they all boil down to one simple concept: a loss of trust.
vFinance and former CCO Richard Campanella appealed an SEC administrative law judge’s Initial Decision that found that vFinance willfully failed to preserve and promptly produce electronic communications regarding its trading in the securities of Lexington Resources, Inc. (“Lexington”), and that Campanella willfully aided and abetted and was a cause of these violations.
New featured article by Luis Ramos, Chief Executive Officer for The Network. As with many situations of adversity, the current economic downturn presents an opportunity for a Chief Compliance Officer (CCO) to strengthen their company’s ethics and compliance programs.
Complient has announced the finalists for its 5th annual Compliance Awards. Winners will be announced at the awards dinner on November 9th.
In the latest edition of the Compliance Blog Roundup, we links you to interesting articles regarding the effect of the Satyam scandal on new models of outsourcing, an analysis of the Bank of America-Merrill Lynch deal, and a study that says young lawyers are happy.
William Raver has been named the Executive Vice President for Heritage Oaks Bancorp, the parent company of Heritage Oaks Bank. In July of 2008, Mr. Raver was promoted to the position of General Counsel after spending three years as a Compliance Officer.
Kim Bullock was recently named Corporate Compliance Officer at Children’s Hospital in Birmingham, Alabama. Bullock had previously served as the Director of Internal Audit in the Corporate Compliance Department.
