- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2022-04-05T12:38:00
Credit Suisse shared further information regarding its exposure to the collapse of U.K. supply chain finance startup Greensill Capital in March 2021 and how the bank was caught off guard.
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Credit Suisse Group disclosed in its annual report its internal control over financial reporting was “not effective” for the fiscal year ending December 2022.
Poor risk management by Credit Suisse’s asset management company kept the bank mostly unaware of the risky nature of lending procedures used by Lex Greensill that would lead to the collapse of Greensill Capital, according to Switzerland’s Financial Market Supervisory Authority.
Credit Suisse announced sweeping changes to its strategy that includes selling off parts of its investment banking portfolio and shrinking its global headcount—an attempt to pivot from risky investment ventures and back toward its historic specialty of wealth management.
When the DOJ released its revised Evaluation of Corporate Compliance Programs, it turned some heads. Tucked into a section on risk assessments was a strongly worded series of questions that appeared to shoulder compliance teams with the responsibility for ensuring the safe use of AI tools by their firms.
The Department of Justice’s Evaluation of Corporate Compliance Programs has made the importance of artificial intelligence governance frameworks clear, but it didn’t say what role compliance should play. Here’s the answer.
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network issued an alert to financial institutions about their obligations to report deepfakes, warning artificial intelligence has given bad actors additional tools in their arsenal.
