- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2021-03-23T19:50:00
Once a moribund and little-used method to bring a private company public, SPACs dominated the market in 2020 and the first three months of this year. With the trend have come new risks for compliance.
THIS IS MEMBERS-ONLY CONTENT. To continue reading, choose one of the options below.
News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
Annual Membership $499 Value offer
Full price one year membership with auto-renewal.
Membership $599
One-year only, no auto-renewal.
Electric vehicle manufacturer Lordstown Motors disclosed in a regulatory filing it has received scrutiny from the Justice Department and the Securities and Exchange Commission regarding its SPAC deal and preorders of its flagship truck.
The SEC issued a $7 million fine against startup space company Momentus for misleading investors about the viability of its technology and an additional $1 million fine against the SPAC taking it public for not conducting adequate due diligence.
Because of the recent SPACs craze, the first quarter of 2021 saw the highest IPO activity in U.S. markets in at least 20 years, according to Audit Analytics. David Bukzin, leader of the SPAC team at Marcum, provides context.
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.
