Compliance Bricks and Mortar for May 15

These are some of the compliance-related stories that recently caught my attention. You need to build a wall, brick by brick.

Cyberattacks Represent Top Risk, SEC Chief Says by Andrew Ackerman in the Wall Street Journal

“One of my major concerns about this area is nearly everybody gets how high-level the risk and priority of this is,” she said at a conference sponsored by a mutual-fund group. “But who’s really got the ticket overall to make sure that it’s all sort of coming together in an optimal way? That’s something we’re still working on I think in the government.”

Compliance alert: OFAC issues report on blocked terrorist assets by Richard L. Cassin in the FCPA Blog

Last week OFAC — the Office of Foreign Assets Control — issued its 23rd report to congress detailing blocked assets in the U.S. belonging to terrorist organizations and state sponsors of terrorism. The blocked assets in total are worth about $2.3 billion. Most belong to Iran.

SEC’s Daniel Gallagher resigning as commissioner in Investment News

The White House will now need to replace him as well as Luis Aguilar, the Democratic commissioner whose term expires next month. The departures herald a transformation at the agency, which has struggled to write dozens of new regulations arising from the 2010 Dodd-Frank Act.