Take Home Compliance

OCC concerned military service members are not adequately protected by financial institution, citing 65 violations of the Servicemember Civil Relief Act. – Brian Honea at DSNews

Compliance departments are having a very difficult time overseeing corporate social media presence. But how difficult? New study shows that financial institutions faced “over 250 compliance incidents per company.” Presumably, this is during to course of a single calendar year. That’s very troubling. – Susan Byellin, Esq. for Reuters Inside Financial & Risk

Indian Central Board of Direct Taxes has announced that persons or entities earning money through offshore ewallets on gambling and gaming will have until September 30th to register. If you are in either payment technology or gaming industry, you might have outsourced vendors who have part of the operations in India, making this requirement relevant to you. – The Financial Express

In another sign that BitCoin is becoming more legitimate medium of transaction, itBit BitCoin Exchange has hired Daniel Alter from New York Department of Financial Services. – Pete Rizzo at CoinDesk

Section 21F of the Securities Exchange Act of 1934 disqualifies compliance officers from being classified as whistleblowers. The idea is that it is their job to blow the whistle. But history has shown that compliance and related officers usually defend their firms. But in 2014, a compliance officer was awarded monies for blowing the whistle on his firm. Here’s an article that informs compliance officers when blowing the whistle is advantageous for you. Priya Cherian Huskins at Inside Counsel

There are major regulatory compliance challenges for cross-jurisdictional meetings. Si-Yeon Kim, Chief Compliance & Risk Officer, American Express Global Business Travel, enumerates three biggies for Incentive Travel & Corporate Meetings UK.

Jobs In Compliance


Has your firm ever refused to listen to your advice that made you want to blow the whistle?


Marcus Maltempo is a compliance professional with more than a decade of experience helping banks, law firms and clients manage investigations and regulatory responses. He is a member of ACAMS and ACFE. 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s