- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2022-05-05T18:50:00
The Securities and Exchange Commission is warning public companies they must accurately and adequately disclose the material impact on their business caused by Russia’s war against Ukraine.
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The Securities and Exchange Commission recently posed a series of probing questions to Citigroup seeking to understand the impact of Russia’s invasion of Ukraine on the bank’s exposure in Russia.
As sanctions against Russia continue to come down from the United States, European Union, and other countries, companies must ensure they have the means to comply instantly—even if ceasing business dents their financials and puts them at legal risk for breaching contract.
U.S. Treasury Secretary Janet Yellen warned countries that are unified in their sanctions against Russia “will not be indifferent to actions that undermine the sanctions we’ve put in place.”
A Bank of England report warned of private equity risk management deficiencies as interest rates remain stagnant, with international coordination important.
Compliance departments at financial institutions must become more involved in ensuring their firm’s operational resiliency to address emerging risks, the Treasury Department’s Office of the Comptroller of the Currency said in its semi-annual risk perspective.
Compliance has been “sleeping on” artificial intelligence, two panelists discussed at Compliance Week’s Women in Compliance Summit. The profession should be positioned to lead on AI governance at the business level.
