Online Safety Community

Compliance Failure: Examples and Lessons

Event Details

Compliance Failure: Examples and Lessons

Time: June 5, 2018 from 1pm to 2pm
Location: 26468 E Walker Dr, Aurora, Colorado 80016
Street: 26468 E Walker Dr, Aurora, Colorado 80016
City/Town: Aurora
Website or Map: https://goo.gl/VeupFv
Phone: 18883008494
Event Type: online
Organized By: Training Doyens
Latest Activity: May 10, 2018

Export to Outlook or iCal (.ics)

Event Description

OVERVIEW

On a number of occasions I have been brought in to lead projects addressing recently discovered compliance failures.  We will discuss a number of these as real case studies.  It is more common than you might think because no one is going to present in a seminar or industry meeting how they got in trouble, how they worked their way out, and how they dealt with the relevant regulators.  So there is very little learning from mistakes within the industry.  This is a chance to share some of this learning.

WHY SHOULD YOU ATTEND

There is increasing discussion that, rather than punish stockholders, individual officers should be personally held accountable for their decisions causing failures to act in compliance.   Already the Sarbanes-Oxley law specifically requires that companies, including banks, have accurate financial reports as well as sound controls as required to assure the material accuracy of those reports.  CEOs and CFOs have to personally sign statements to that effect and can be charged personally under some circumstances.  

In my career there have been many times when I have been brought in as a consultant or a Senior Executive to take over non-compliant operations or to establish projects to fix non-compliant operations.  Sometimes this happened after a specific executive was fired.  At other times, we were able address the problems in time to avoid ending anyone’s career.    

It is said that a smart person learns from their mistakes; but a wise one learns from others’ mistakes.  This is a chance to learn from many other people’s hard experience.

AREAS COVERED

  • Common AML compliance failures.
  • Extraordinary AML compliance failures (intentional at the executive level).
  • Widespread SOX failures (Sarbanes-Oxley Act) primarily control breakdowns leading to reconciliation breakdowns and incorrect reporting.
  • A broad failure of licensing controls where the company providing insurance products in the name of several major banks did not know which products were licensed is which states. 
  • For each case we will look at…
  • What was the cause of the compliance failure
  • How was a problem identified (red-flags, check list items, audit steps) and communicated internally (escalation process) 
  • What was done with regard to communication with regulatory authorities
  • What did it take to investigate and address the failures
  • What internal controls and risk mitigation steps were taken to prevent recurrence

LEARNING OBJECTIVES

  • What causes compliance failures?
  • How can they be identified?
  • How do they get fixed?

WHO WILL BENEFIT

Banking, Brokerage, or any Financial Services company

 

For more detail please click on this below link:

https://bit.ly/2rw3f5X

 

Email: support@trainingdoyens.com

Toll Free: +1-888-300-8494

Tel: +1-720-996-1616

Fax: +1-888-909-1882

Comment Wall

Comment

RSVP for Compliance Failure: Examples and Lessons to add comments!

Join Online Safety Community

Attending (1)

Take our poll!

Take our poll!

Forum

Workplace safety for workers other than your own 3 Replies

Do your workplace/traffic safety plans include safety measures for workers who are not your own employees? Do they take into account the safety of those who will be - or could be - at your workplace,…Continue

Tags: emt, paramedics, emergency, occupational, health

Started by John Petropoulos Memorial Fund. Last reply by Paul Lancaster May 28.

Imagine a technology which is an artificial muscle and is integrated into textiles...

Such a smart textile has huge application potential and can support people in many different ways. The garment would use haptic feedback (i.e. the use of touch to guide the user) or could serve as a…Continue

Started by Ulla Siegel May 28.

Green Smart Technical 800+ Turnkey Projects in UAE – Rope Access Company in Dubai

Green smart is an ISO 9001: 2015 QMS, OHSAS 18001: 2017 OHSMS, ISO 14001: …Continue

Tags: window, cleaning, services, facade, companies

Started by Manikandan Apr 23.

What % of Dollars should be bugeted for All Safety Training for a "Heavy Equipment Road Construction" company with 100 employees? 1 Reply

I have been at a Highway and Road Construction company for six months. I am developing a (first) complete training program. I am the 1st full time safety hire for this company. I need to develop a…Continue

Started by JTurpening. Last reply by Jen McDade Feb 19.

Technology and Safety 1 Reply

What are the most useful tools to have at your fingertips? -Toolbox Talks-JSA-JHA-Daily Reports, etc. What is falling through the cracks that could be an easy fix? Safety Managers, Coordinators and…Continue

Tags: safety

Started by Drew stone. Last reply by Jen McDade Feb 15.

Badge

Loading…

© 2019   Created by Safety Community.   Powered by

Badges  |  Report an Issue  |  Terms of Service