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NEWSLETTER: As to be expected, regulation news has been slow over the holiday period. And with the election looming it’s hard to say how much we’ll see in the way of new regulations, or even updates in the coming months. But there’s still plenty to learn from tracking some of the recent enforcement cases we’ve seen.
Last summer, we wrote about a historic whistle blower award that was issued by the SEC. We have seen the support of whistleblowers continue with the SEC issuing more than $28 million to seven whistleblowers in December and in January requiring J.P. Morgan to pay $18 million for violating the whistleblower protection rule.
These are a great reminder that organizations should make sure they have open communication channels and a strong culture of compliance so that no employee ever feels like they don’t have the ability to solve potential issues internally. We look at how to appoint and work with the right CCO to fully invest in an effective compliance program, and how recent enforcements highlight the importance of getting the culture piece right.
And in business-as-usual, every four years the SEC reviews the accredited investor definition as it relates to natural persons. In December, the SEC issued their most recent report. There are no formal changes at this point, but the document addresses frequently suggested comments and requested changes that the SEC receives.
Finally, we look at how anti-money laundering is coming under the SEC and FINRA microscope, with annual, independent testing playing an integral role.
Rebecca Thorpe
Chief Executive Officer
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