Earlier this year, the cable news network CNBC dubbed 2014 “the year of the mega-merger,” a prediction that has proven more than accurate. Worldwide, mergers and acquisitions activity has already hit the $2 trillion mark this year, 75 percent higher than all of 2013, according to research by Thomson Reuters. While big deals continue to […]
Joe Mont
Posted inBoards & Shareholders
Shareholders Could Demand More Succession Plan Disclosure
When Jamie Dimon, chairman and CEO of JPMorgan Chase, revealed recently that he was diagnosed with throat cancer, the announcement was quickly followed by assurances that the bank’s succession plan was in place and ready to be triggered if the situation warrants it. He was forthright about the existence of the plan, even if details […]
Posted inUncategorized
CFTC’s Scott O’Malia Announces Resignation
Just when it looked as though the Commodity Futures Trading Commission was going to have some stability, another commissioner has announced his departure. On Monday afternoon, Commissioner Scott O’Malia notified President Barack Obama of his resignation, effective Aug. 8, 2014. In the letter, O’Malia, a Republican, called his time on the Commission an “honor and […]
Posted inRisk Management
Podcast: The Stormy Link Between Hurricanes, Supply Chain Fraud
Hurricane season is upon us and for businesses that may pose more than just transportation headaches and supply chain disruptions. Mark Pearson and Larry Kivett, members of Deloitte’s supply chain forensics team, are sounding the warning that stormy weather can bring with it supply chain fraud. While some companies are bringing their legal, risk, compliance, […]
Posted inRegulatory Enforcement
SEC Petitioned for Tougher Whistleblower Protections
A coalition of whistleblower advocates has petitioned the Securities and Exchange Commission, urging it to do more to prevent retaliation against those who report malfeasance at public companies. The effort, intended to coincide with the fourth anniversary of the Dodd-Frank Act, is spearheaded by the law firm Labaton Sucharow, the Government Accountability Project, a whistleblower […]
Posted inUncategorized
New York Proposes Strict New Bitcoin Regulations
New York’s Department Financial Services has opened public comment on a proposed “BitLicense” regulatory framework for New York virtual currency businesses. It would become the first state in the nation to directly regulate the controversial payment method. The proposal includes requirements for protecting customer assets, disclosure, compliant resolution, anti-money laundering compliance, reporting fraud, business continuity, […]
Posted inUncategorized
CFPB Plans to Make Narratives in Complaint Database Public
The Consumer Financial Protection Bureau has proposed a new policy that allows consumers to include, for public viewing, narratives that add detail their complaints about financial products, services and firms in the agency’s already controversial Consumer Complaint Database. Publishing these consumer narratives would “provide important context to the complaint, help the public to detect specific […]
Posted inRisk Management
Lew: Firms Sharing Cyber-Data Need Liability Protection
U.S. Treasury Secretary Jacob Lew is urging financial institutions to develop better protections against cyber-security related thefts, disruptions, and attacks. In a speech Wednesday, he encouraged the financial sector to make use of a new cyber-security framework when evaluating vendors and called upon Congress to help protect firms from liability issues that may arise from […]
Posted inUncategorized
Apple to Join Tech Peers by Releasing Workplace Diversity Data
Corporate sustainability reports often deal with environmental issues, less so matters of workplace diversity. That may start to change if more companies follow Apple’s lead. Amid the backdrop of shareholders and activists pressuring tech companies to foster a more diverse workforce, Apple CEO Tim Cook has announce that, in the near future, it will release […]
