Tag:

compliance

Could Anna Delvey Have Gotten Away with It? Bank Vetting for a $22 million Loan

Anna Delvey, the alleged scammer who attempted to obtain financial backing of anywhere from $22 million to $40 million in loans, is once again the subject of much debate due to the new Netflix series chronicling her alleged crimes and other actions. The question this article attempts to answer is whether she ever had a chance of realizing her goal of creating an exclusive, members-only, art club much like Soho House. This question hinges on whether she ever had a real chance to secure the funding to make it possible.

The ATF Has Become Too Weak to Do its Job

On January 19, 2022, a searchable database of inspection reports from the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) became publicly accessible. The ATF carries out firearms compliance inspections to ensure that federal firearms licensees (FFLs) are complying with federal gun control regulations, as well as local laws. Brady, the organization responsible for compiling the inspection database, reports that even when FFLs have violated regulations, the ATF only rarely revokes their licenses.

Insider Trading Isn’t Illegal if You Are a Member of Congress

Jon Ossoff, the freshman Senator from Georgia, has made it clear that he intends to put forth a bill that would ban members of Congress from trading individual stocks. This is a policy that seems likely to fail, but that doesn’t make it any less necessary. It is estimated that members of Congress and their families bought and sold over $500 million worth of assets. That’s not to say that all these trades were based on information not available to the general public, but it is clear that there is a massive conflict of interest in allowing law makers to trade stocks when their job is intrinsically tied to making decisions that affect the price of stocks.

Concert Venues Crowd Control Regulations

On November 5, 2021, Travis Scott performed a concert at the Astroworld Festival in Austin to a crowd of fifty thousand people. In the hour that he performed, eight people were killed in a deadly crowd crush (another concert goer losing their life days after), and hundreds were injured. Multiple lawsuits have been filed against Travis Scott himself, as well as the production companies that organized the show in response to the tragedy. In the wake of the devastating event, regulations concerning crowd control and management must also be considered, as well as whether these regulations were complied with by the organizers of Astroworld.

The Free Britney Movement and the Call for Conservatorship Reform

Britney Spears: global pop superstar, Grammy award winner, songwriter, dancer, and … the face of the conservatorship reform movement? Ms. Spears can add a new line onto her prolific resume, as legal issues stemming from her decade-plus long conservatorship have shed a light on conservatorship abuse. Britney has subsequently fueled the push to reform conservatorship regulations that affect over an estimated 1.3 million adults in the United States.

House Moves to Bolster Supply Chain and Network Security

On October 20, the House of Representatives passed several bills directed at the Department of Homeland Security (“DHS”) and the Department of Commerce (“DOC”) that may impact network security compliance measures affecting U.S. businesses.  These bills take aim at much of the software and network technology used by companies within the supply chain to ensure that security is not dismissed in the effort to cut costs and to maintain healthy competition between network communication equipment vendors.

Compliance Spotlight: William Hanning, CISSP, CISO

William Hanning is a Chief Information Security Officer with Groups360 and close to twenty years of Information Security experience. Mr. Hanning has built and managed security programs in multiple industries in organizations of varying sizes, as well as within Fortune 100 companies. Here, he gives insight about the separation between data privacy and cybersecurity, the role of information security teams, and how cybersecurity relates to and supports the work of legal and compliance departments.

NBA Healthcare Fraud Scheme

Krista Solano Associate Editor Loyola University Chicago School of Law, JD 2023 Eighteen former NBA players were charged with defrauding the league’s health and welfare benefit plan. The former players were charged under 8 USC Section 1347, otherwise known as the federal healthcare fraud statute. The fraud scheme submitted $3.9 million in fake claims, for …
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The Pandora Papers and the Bank Secrecy Act

The recent Pandora Papers leak in October 2021 shined the light on the massive and intricate web of offshore accounting that allows for insurmountable amounts of wealth to be hidden throughout the world. One of the most shocking revelations of these Papers was how heavily the United States was implicated in creating and perpetuating this system. As such, legislators have been pressured to find a way to crackdown on this sort of offshore money. One way that they have proposed addressing the problem is by amending the United States’ current criminal financial legislation, the Bank Secrecy Act.

A Potential Strike May Impact Hollywood

The biggest industry strike among Hollywood production workers since World War II may be impending. On October 4, 2021, the International Alliance of Theatrical Stage Employees (IATSE) announced that members overwhelming granted the union’s president the authorization to strike against the Alliance of Motion Picture and Television Producers (AMPTP). The crux of the demands by the union revolves around increasing workers’ quality of life. Average working days consist of fourteen hours or more, with meal breaks often avoided, leaving little to no personal life outside of the industry.