On Apr. 30, 2019, DoJ issued updated guidance on evaluating corporate compliance programs, and additional context for a multifactor analysis of compliance programs. Discussed factors for well-designed compliance program, risk assessments, policies and procedures, training and communications, confidential reporting, investigations. Provided metrics of program operating effectively, program's capacity for continuous improvement, periodic testing, investigation, analysis…
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About: ILG
Recent Posts by ILG
FINRA Advise Imposter Websites
On Apr. 29, FINRA issued information notice on imposter websites. Member firms notified FINRA that they have been victims of imposter websites, sites designed to mimic firm's actual website, goal of committing financial fraud. Imposter Websites Obtain existing or potential client personally identifiable information (PII), login credentials, that website sponsors subsequently use to engage in…
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SEC Elon Musk Twitter Fraud
On Apr. 26, 2019, Elon Musk agreed with SEC not to tweet on Tesla's revenue, financial condition, potential merger/acquisition, production, sales numbers. Or new, proposed business line, projection, forecast without lawyer approval. To resolve SEC contempt motion on Feb. 25, 2019, for violating pre-approval requirements of Oct. 16, 2018 final judgement by tweeting on Feb.…
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DoJ $1.5bn Japan and US Ponzi
On Apr. 18, 2019, DoJ said two investment executives were extradited by Japan. Junzo Suzuki and son Paul Suzuki, 40, were charged in 2015 indictment re fraud. Japan arrested Suzukis in Jan 2019 at US request and extradited them on Apr. 17. Junzo Suzuki previously was an executive VP for Asia Pacific of MRI International.…
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CAN BC GVT Real Estate AML
On Apr. 15, CAN BC GVT issued a statement on AML in real estate. Follows CAN BC GVT Apr. 2019 receipt of money-laundering report. Apr. 15 Statement BC AG, Minister of Finance praised commitment by five real-estate organizations. The bodies have jointly committed, to fighting money laundering in the province. To collaborate and develop best…
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SEC $1.2bn Woodbridge Ponzi
On Apr. 11, SEC, DoJ charged Woodbridge owner in $1.2bn Ponzi. Two former Woodbridge Group directors Ivan Acevedo and Dane Roseman were arrested and charged by authorities, with the Woodbridge owner Robert Shapiro. Follows SEC Jan. 2019 court order to Woodbridge pay $1bn settlement, #52374. Charged with conspiracy for mail and wire fraud, money laundering,…
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