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.
Market Regulation Issues Raised by the Gamestop Buying Frenzy
The regulation of hedge funds has largely been unchecked allowing big Wall Street players to manipulate the market for the benefit and at the detriment of other investors. But forced by an unprecedented movement of retail investors, Wall Street is being forced to reckon with the hypocrisy of their practices.
Final Rule and Updates to Non-discrimination Regulations of the ACA
The Department of Health and Human Services (“HHS”) finalized revised regulations that implemented Section 1557 of the Affordable Care Act (“ACA”) in June of 2020. This section prohibits discrimination within health programs and activities receiving federal financial assistance based on race, color, sex, age, disability, and national origin. In comparison to the Obama-era regulations issued in 2016, the new final rule does away with gender identity and sexual orientation nondiscrimination protections not only under Section 1557, but under ten other federal regulations as well. This also includes a roll back of certain health insurance coverage protections for transgender individuals.
The Fifth Annual Loyola Journal of Regulatory Compliance Symposium: “Labor & Employment Compliance Issues in the Era of Covid-19”
Friday, March 12, 2021 Symposium Summary This year’s virtual Symposium will bring together practitioners to examine current issues in Labor & Employment compliance with particular attention to issues arising from the Covid-19 pandemic. Practitioners will reflect on a variety of concerns facing employment professionals as advisor, employer, and client. Cost & CLE CLE credit will …
Read more
Compliance Spotlight: Lucas Nelson, Medpharm
Lucas Nelson is the General Manager at Medpharm. Medpharm is a vertically integrated cannabis operator based out of Des Moines, Iowa. Medpharm holds two of Iowa’s five dispensary licenses and is the only licensed cultivator. They are one of only two dispensaries currently operating in the state. Mr. Nelson holds a Juris Doctor from Indiana University Maurer School of Law and a Bachelor of Business Administration in Accounting from James Madison University.
The Death of Neutral Corporations
The current social and political climate, as well as our planet’s environmental climate, have shown the new role that corporations play in society. The pandemic and the current social upheaval seen worldwide have increased the need for real and meaningful corporate commitment to social responsibility.
It’s Not Too Early to Start Worrying About Discriminatory Algorithms in Your Code: A Practical Approach to Self-Regulation
There’s no doubt that remote work, brought on by the coronavirus pandemic, will accelerate the digital revolution already underway. Consumers’ growing appetite to conduct their business online, rather than in-person, has fueled the proliferation of digitally accessible products and services. For instance, movie theaters have closed their doors while content streaming services have experienced exponential growth. And while the restaurant industry, as a whole, has suffered, ‘virtual’ kitchens and grocery delivery apps have picked up steam. A critical question that arises from these trends is “what can be done to eliminate biases in the algorithms that drive these digital transactions?”
Updates to Autorenewal Regulations and Enforcement
In the age of online consumerism, many companies utilize automatic renewal programs to deliver their products and services to customers on a recurring basis for a monthly or annual charge. Recently, autorenewal programs have seen an increase in consumer protection through legislation at both the state and federal level along with enforcement actions brought by private plaintiffs, state attorney generals, and the Federal Trade Commission (“FTC”). Organizations that utilize automatic renewal should be aware of the uptick in autorenewal program enforcement and look to strengthen and update their policies where appropriate.