Compliance

What Business Owners Need to Know as Governments Outsource Code Enforcement Companies across virtually every industry are experiencing a rapid increase in regulation. Naturally, regulatory agencies are having a hard time keeping up with enforcement. That being the case, some state and local governments are turning to private companies and outsourcing enforcement. Compliance is always in a company’s best interest,...

6 Critical Changes for Client Life Cycle Management In less than six months’ time (January 3, 2018), banks must be fully compliant with MiFID II regulatory obligations, bringing in wide-ranging compliance changes. Laura Glynn, Fenergo Director of Regulatory Compliance, examines the six key changes that MiFID II will have on Client Lifecycle Management in particular and how financial institutions can...

(And How to Avoid Making Them) We all make mistakes, and CCOs are no exception. While CCOs are a creative and dedicated bunch, they are often susceptible to these five common mistakes. Probably unsurprisingly, the cure for these ills is more due diligence and more relationship building. Chief Compliance Officers are fallible – I know that is not a controversial...

What Hedge Fund Managers Should Do Now New regulations issued by the Department of Labor expanded the definition of an "advice fiduciary," which may be interpreted as treating investment managers as "advice fiduciaries" with respect to such investors in funds that they manage unless certain exceptions are met. The rules will apply to investments in funds by ERISA plans and IRAs...

MLA in Full Effect October 3 On October 3, 2017, the one-year exemption for credit cards under the Military Lending Act (MLA) will expire. New requirements of the MLA expanded both the type of creditors it regulates and the range of credit products it covers. It is important that credit card issuers be prepared in order to avoid action by the...

Highlights from the Oslo Anti-Corruption Conference Fresh on the heels of the Anti-Korrupsjons+Konferansen in Norway, Richard Bistrong offers CCI a look inside the conference and details some of the key takeaways. In 2015, I had the honor of participating in the Oslo Anti-Corruption Conference, or Anti-Korrupsjons+Konferansen, and that engagement was via video, as I did not yet have the restoration...

By Sean Freidlin, Ethics and Compliance Marketing Manager at SAI Global In my interactions with compliance officers and the E&C community over the years, there has been one constant narrative that I’ve observed. The job of an ethics and compliance professional, while constantly evolving, is consistently difficult, stressful, risky, and often thankless. In fact, a survey conducted in 2012 by...

What FIs Can Expect in 2017 and Beyond In the months since the new tax rule IRS 871(m) came into force, many financial institutions are still struggling to find the best approach to manage the complex tangle of data required for compliance. Phillip Lynch, Global Head of Markets, Products & Strategy at SIX Financial Information, explores the challenges and counsels...

The Key to M&A Success The ability to handle data integration and management efficiently is a key factor in M&A success. Companies that are contemplating M&A activities should consider taking a modern approach to data integration and management so they can more effectively manage deal-making activities, align disparate elements and start generating value faster.  In a recent EY M&A outlook survey,...

Evaluating Effectiveness Companywide Regulatory authorities don’t expect perfection in a compliance program, but they do expect a concerted effort on all fronts, from the C-suite to the front-line employees. Internal controls are an essential part of a robust compliance program, but ensuring compliance with internal policies and procedures takes ongoing analysis.  Let's start with some basics: a public company is...

The ex-compliance chief of MoneyGram International Inc. (MoneyGram) is found personally liable for MoneyGram’s AML failures. The lawsuit is unprecedented in growing regulatory efforts to impose personal liability on a compliance officer for a company program failure. Patty Tehrani offers an analysis of the settlement and lessons for compliance practitioners.

Compliance with dangerous goods/hazmat shipping regulations is challenging, but the right infrastructure and technology can mitigate risk and provide businesses with a competitive edge. In today’s stringent regulatory environment, the cost of a serious safety offense or accident can be steep.