- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Dave Lefort2021-01-28T21:37:00
Actions taken by Robinhood and TD Ameritrade amid the crazy GameStop stock surge can be understood from the perspective of risk management, but who’s watching out for the retail investors? That’s where the real risks lie.
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The SEC over the last month has suspended trading on securities offered by 21 companies in reaction to market volatility caused by “apparent social media attempts to artificially inflate their stock price.” Could the trend lead to further regulation?
A key meeting of regulators has determined the recent spike caused by Reddit users for normally tame stocks like GameStop and AMC Entertainment has not had a significant impact on the market, which Treasury Secretary Janet Yellen termed “resilient.”
Treasury Secretary Janet Yellen will meet with the heads of several regulatory agencies to discuss potential responses to the wild swings in value of GameStop and several other stocks.
Top-of-mind issues addressed at Compliance Week’s Third-Party Risk Management & Oversight Summit, held June 3-4 in Atlanta, included safe deployment of artificial intelligence, assessing vendor viability and sustainability, understanding the role of procurement in risk ranking, the intersection (or lack thereof) between data privacy and cybersecurity, and many others.
Anne Morriss, co-author of “Move Fast and Fix Things,” advises compliance officers to tap into curiosity, communicativeness, and comfort with discomfort to build organizational trust, fast.
Regulators and government agencies often speak to the value of empowered corporate compliance programs to advancing their mission. Why not practice what they preach by empowering compliance among their own ranks?
