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News & Commentary
Content tagged with Compliance posted in January 2008
Bird Flu Pandemic: Will Telecommuting Work on Wall Street?
News  |  1/30/2008  | 
While most Wall Street firms plan to rely on telecommuting in the case of a pandemic, new in-depth results of a financial industry drill show that few employees actually did telecommute at all....
Societe Generale: Could it Have Prevented $7.2 billion fraud?
News  |  1/29/2008  | 
Jerome Kerviel, the Societe Generale trader who allegedly carried out a $7.2 billion fraud, confessed to police that he hid his activities from his superiors, and claimed both he and other employees had been carrying out risky trades since 2005. So how could Soc Gen have prevented the fraud?
How Did the Societe Generale Fraud Happen?
News  |  1/24/2008  | 
France's second biggest bank, Societe Generale, is reeling under the discovery of a $7.14 fraud committed by Jerome Kerviel, a trader working on the futures desk at the bank's headquarters in Paris. So how did such massive fraud happen and lie undetected for so long?
Brokerage Employee Pleads Guilty to Insider Trading Conspiracy
News  |  1/23/2008  | 
As one of Wall Street's most far-reaching cases of insider trading continues to unravel, a former employee of Hoboken, NJ-based brokerage firm Assent has pleaded guilty to conspiracy, after admitting he accepted bribes to conceal illegal trades based on inside information provided by a former employee at UBS...
Trade Reporting, Surveillance Key To Compliance
News  |  1/22/2008  | 
With increased regulatory focus on protecting securities market participants, trade reporting and trade surveillance are key to providing transparency, efficiency and oversight for today's trading environment.
Enhanced Shared Assessments Program Can Make Audits Speedier
News  |  1/22/2008  | 
The Collaborative Software Initiative (CSI) recently joined the Shared Assessments Program, automating the questionnaire by providing a web services front-end application for collection and editing shared assessment submissions and an XML schema for validating and accepting those submissions as XML documents.
Financial Firms Must Spend More on Anti-Money Laundering
News  |  1/15/2008  | 
Financial firms say they need to dedicate more resources to their anti-money laundering (AML) programs, and focus more on regulatory risk, according to a new survey by Ernst & Young.

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