Category:

Finance & Banking

Hurricane Harvey Aftermath Leaves Opportunity for Financial Fraud

On August 30, 2017, Trump signed Proclamation 9632 declaring September 2017 as National Preparedness Month, encouraging “all Americans… take action to be prepared for disaster or emergency by making and practicing their plans,” also citing that fewer than half of American families report having an emergency response plan. While it is important to have a disaster plan in place for your family to take care of their physical needs, it is also vital to be prepared for the possibility of scams and fraudulent activity in the wake of a natural disaster such as Hurricane Harvey.

Mr. Trump’s Swing at Financial Regulation

During his first 67 days in office, Mr. Trump signed 19 executive orders. One such action designed to roll back regulations from the 2010 Dodd-Frank Act (“Act”) received little to no media attention but may have long lasting ramifications in the financial industry.

New York Law Could Shake Up Compliance Departments

Gilbert Carrillo Executive Editor Loyola University Chicago School of Law, JD 2017   The state of New York is in the process of implementing a new rule requiring some financial U.S. and foreign institutions, with New York offices, to prove that their transaction monitoring and sanctions filtering programs for catching criminal activity do in fact …
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Anticipating the Direction of SEC Compliance Issues Under President Trump’s Nominee for Chairman of the SEC, Jay Clayton.

Ed Tyrrell Associate Editor Loyola University Chicago School of Law, J.D. 2018   President Donald J. Trump wasted no time in nominating Jay Clayton, Partner at Sullivan Cromwell, as his pick for the chairman of the SEC. Clayton, a veteran Wall Street attorney, is renowned for his expertise in public and private mergers, acquisitions transactions, …
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The SEC’s Whistleblower Program Proves Resilient Despite Adversity

Lauren Rushing Associate Editor Loyola University Chicago School of Law, J.D. 2018   In the span of one week, two financial services companies paid penalty fees to the Securities and Exchange Commission for intentionally undercutting the Whistleblower Program. Impeding whistleblower communication is averse to quashing misconduct in the marketplace, which is the program’s main goal. …
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SEC set to change how investors elect board members

Gilbert Carrillo Executive Editor Loyola University Chicago School of Law, J.D. 2017   The Securities and Exchange Commission (SEC) is expected to propose new rules that would make it easier for shareholders to vote on board candidates nominated by investors, versus those pushed by the company’s management. What impact could this have on compliance departments? …
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Cybersecurity Biggest Risk to Financial System, Regulators Plan to Provide More Oversight

Kaitlin Lavin Executive Editor Loyola University Chicago School of Law, JD 2017   Financial institutions can expect increased oversight and new regulations due to recent cyberattacks and data breaches in banks. Several banks have already reported data breaches this year, and many banks have been rattled by the cyberattacks on SWIFT—the  messaging network connecting the …
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