These are some of the compliance-related stories that recently caught my attention.
Protections for CCOs from Wrongful Termination by Tom Fox in the FCPA Compliance and Ethics Blog
You can consider the departure from MF Global of its Chief Risk Officer, the financial services equivalent of a CCO. As reported in a New York Times (NYT) article entitled “MF Global’s Risk Officer Said to Lack Authority” Ben Protess and Azam Ahmed reported that the company replaced its Chief Risk Officer, Michael Roseman, after he “repeatedly clashed with Mr. Corzine [the CEO] over the firm’s purchase of European sovereign debt.” He was given a large severance package and left the company. When he left, there was no public reason given. His replacement was brought into the position with reduced authority
View From the Front Lines: Do the Right Thing, Even if it is Not Convenient by Meric Craig Bloch in SCCE’s Compliance & Ethics Blog
ou are responsible for protecting your own ethical health. No investigation is worth risking your integrity and future effectiveness—not to mention your continuing employment—for the sake of determining what exactly happened in a particular case. When you get frustrated, feel unappreciated or misunderstood, or are laboring under a heavy workload, it can be tempting to cut corners and rush to judgment to close the investigation. This temptation rarely comes from poor professional values. The temptation might come from a confidence in “rough justice” so that the implicated person gets what they so richly deserve. Whatever your motivation, resist it.
Compliance Officer’s 10 Principles by Roy Snell in SCCE’s Compliance & Ethics Blog
- Live each day with courage
- Take pride in your work
- Always finish what you start
- …
No payout for pre-Dodd-Frank SEC whistleblowers – 2nd Circuit by Alison Frankel for Reuters
Stryker believed he was entitled to a reward under the whistleblower bounty program the SEC adopted after Congress passed the Dodd-Frank Act in 2010. The SEC said in 2013 that he was not because he provided the information that led to its investigation of ATG before Congress created the Dodd-Frank whistleblower program.
Central bank humor from Saturday Morning Breakfast Cereal
Wall Weed is by Leo Reynolds
