- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Joe Mont2019-07-11T21:17:00
The social media company is hardly quiet about its crypto initiative, but nevertheless failed to see the materiality of creating a global payments system.
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Facebook recently acknowledged in a filing with the SEC that there can be no assurance its planned Libra offering “will be made available in a timely manner, or at all.”
A plan by Facebook to enter the world of virtual currency is attracting predictable skepticism in Washington. It could also expedite the slow emergence of national data protection laws.
Count Federal Reserve Chairman Jerome Powell and several members of Congress as concerned observers of Facebook’s planned foray into the world of virtual currency.
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?
