- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2020-07-27T13:01:00
If you’re a small investment firm owner acting as your firm’s chief compliance officer, here are some scary stories that might keep you up at night.
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Jason Rhodes, the co-founder and chief risk and compliance officer of a Connecticut-based investment fund, was sentenced to 48 months in prison and ordered to pay more than $25 million in restitution for his role in a “Ponzi-like” scheme.
A New Jersey-based asset management firm and its president and chief compliance officer are facing SEC charges for “cherry-picking” profitable stocks for new and favored accounts that diminished returns for other clients.
A recent court ruling tells the story of a former chief compliance officer that “literally had no idea what he was doing or what he was getting himself into” when he took the position at an investment advisory firm.
The Treasury Department’s Financial Crimes Enforcement Network updated an alert first issued in February warning financial institutions of Israeli extremists fomenting violence in the West Bank.
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.
