Category:

The Art of Compliance

The Risks of Outsourcing Compliance

The Chief Compliance Officer (“CCO”) plays a vital role in in the business of broker dealers and investment advisors. Following the financial crisis, firms hired compliance officers in droves to help repair vulnerabilities in firm policies and to address emerging regulation. As regulatory complexity and demand for compliance professionals grew, firms looked to consultants, contractors and lawyers to help fulfill specialized compliance functions. Can an unaffiliated third party effectively fulfill the Chief Compliance Officer role?

Issue II of the Journal of Regulatory Compliance Is Now Live!

I’m excited to announce that we have released the second issue of the Journal of Regulatory Compliance!

Issue II begins with a reflection on compliance education at Loyola University Chicago School of Law from our own previous Executive Editor, Ryan Whitney; followed by an analysis of compliance and ethics issues with third-party vendor relationships from the Columbia School of International and Public Affairs’ own Michael Silverman. Jennifer Mascott, an expert in administrative and Constituional law from George Washington , contributed a discussion of the status of administrative law judges of the U.S. Securities and Exchange Commission as “Officers of the United States.” Last but certainly not least is a critique of financial and securities enforcement against compliance personnel by Erica Skoczylas. Journal of Regulatory Compliance Editor-in-Chief Ryan Meade rounds out the set, with an afterword introducing some of the themes and concepts that will be explored in Issue III.

I had a wonderful time working with our distinguished authors to bring the publication to you as readers today. I hope you enjoy our insightful author’s analyses and insights.

Kicking Off a New Academic Year at the Center for Compliance Studies

The academic year for 2017-2018 has begun at the Center for Compliance Studies. We have a lot on tap—a new look for the blog, an exciting symposium in February 2018, Issue 2 of the Journal soon to be published, and a number of new scholarly endeavors.

The Need for a Modified Upjohn: Internal Investigations and When to Warn

Compliance programs rely heavily on internal investigations. Yet unlike their counterparts in the in-house counsel’s office, compliance professionals rarely give notice when they are conducting such investigations. Whether compliance professionals have duty to notify individual directors, officers and employees of an internal investigation remains unclear. This lack of clarity leads to confusion with employees and officers regarding the limits of confidentiality, and the compliance officer’s duty of loyalty. A robust ethics and compliance program should therefore take a proactive stance and integrate Upjohn warnings—a standard of corporate counsel, but modified to fit the compliance function—into the internal investigation process.

Why, Why, Why, Why, Why You Should Utilize Root-Cause Analyses.

Brittany Tomkies Executive Editor Loyola University Chicago School of Law, JD 2017   Over the past decade, risk management and compliance professionals have moved away from asking “what happened” and “who did it” to asking “why” the error occurred in hopes of developing effective safeguards to prevent reoccurrence of those errors. As a result of …
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Compliance Tips to Keep Your New Year Resolution

Ryan Whitney Managing Editor Loyola University Chicago School of Law, JD 2017   With the chaotic 2016 behind us and 2017 underway, many people are working to maintain the resolution(s) they set for themselves to ensure that last year’s failures are not repeated. Sadly, more than a quarter of us have already broken these resolutions …
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How Communications Play a Key Role in the Hospital Readmissions Reduction

Fannie Fang Executive Editor Loyola University Chicago School of Law, JD 2017   CMS has reported that Medicare expenditures amount to roughly 17 billion a year on patient readmissions alone. Studies show that almost twenty percent of all patients who are admitted to a U.S. hospital makes a repeat visit within thirty days of discharge. …
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Effective Compliance Training Methods to Increase Reporting

Brittany Tomkies Executive Editor Loyola University Chicago School of Law, JD 2017   A September 2016 survey from the Society of Corporate Compliance and Ethics (SCCE) found that 83% of compliance professionals said their program prevented misconduct at least once in the last two years with 46% of respondents saying their compliance program prevented five …
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Attending the 15th Annual Compliance & Ethics Institute

Corinne Nierzwicki Production Editor Loyola University Chicago School of Law, JD 2018   The Society of Corporate Compliance and Ethics recently hosted the 15th Compliance & Ethics Institute (CEI) in Chicago, Illinois. Several Loyola faculty members and students, including myself, attended CEI. I had an excellent experience at CEI networking with attendees and learning from the …
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