- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
In this week’s “Nailed It or Failed It,” we take down EY and JPMorgan Chase for apparently ignoring whistleblowers and give the SEC a nod for rewarding them.
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Hubert Barth, head of EY’s Germany practice for the past five years, will step down and take on a “new role at the European level” as the firm seeks to restore its tarnished reputation following its missteps leading up to the collapse of Wirecard.
Continuing fallout from the Wirecard scandal has led Germany’s finance minister to oust the top two officials at the country’s financial regulator, the Federal Financial Supervisory Authority (BaFin).
A member firm of EY Global has been fined $1.5 million by the SEC to settle audit violations and improper conduct charges connected to a $3.3 billion accounting fraud committed by one of its customers.
Top-of-mind issues addressed at Compliance Week’s Third-Party Risk Management & Oversight Summit, held June 3-4 in Atlanta, included safe deployment of artificial intelligence, assessing vendor viability and sustainability, understanding the role of procurement in risk ranking, the intersection (or lack thereof) between data privacy and cybersecurity, and many others.
Anne Morriss, co-author of “Move Fast and Fix Things,” advises compliance officers to tap into curiosity, communicativeness, and comfort with discomfort to build organizational trust, fast.
Regulators and government agencies often speak to the value of empowered corporate compliance programs to advancing their mission. Why not practice what they preach by empowering compliance among their own ranks?
