5 Financial Services Stories You May Have Missed — And a Rogues Gallery
We've rounded up the top five recent news stories on the world of banking that were easy to miss, but may have some lasting impact.
View Article5 Financial Services Stories You May Have Missed – Run-on Sentences
Below are news stories from the week that were easy to miss, but may have some lasting impact -- featuring Galleon, Lloyd's, Madoff, Goldman, and LaSalle Bank.
View ArticleSFO to “Vigorously Pursue” Investors Who Benefit From Illegal Company Dividends
A warning issued by the UK’s Serious Fraud Office (SFO) yesterday has left investors quaking in their boots. As reported in the Financial Times today, the SFO has for the first time won a Civil...
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JOBS Act Update: Penny Stock, Pound Foolish
Last month, the SEC brought its first charges of securities fraud and an order to halt sales of the stock of a JOBS Act-traded company, Caribbean Pacific Marketing.
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Horsemeat Contamination in the Supply Chain
The horsemeat food scandal in the UK underscores the need for supply chain insurance products which provide adequate protection for quality issues.
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5 Financial News Stories You May Have Missed: Certifiable
This week: The Supreme Court, SEC, fraud statute of limitations, class actions, vanishing small banks, and Henry V.
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Podcast: Avoid Becoming the Victim of Fraud
In the third and final podcast in WillisWire’s series on fraud risk, a panel of leading experts discuss what companies can do to protect themselves from fraud. Christopher Richardson and Steve Caine...
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Reports of Fraud Increase, Whistleblowing Study Finds
A recent annual study on emerging best practices for hotlines to address organizational misconduct found some thought-provoking trends for those interested in corporate governance. Most U.S. public...
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5 Financial News Stories You May Have Missed: Lessons in Obfuscation
Here are news stories from the week that were easy to miss, but may have some lasting impact. A Lesson in Obfuscation – The Nearly Complete Volcker Rule Sometimes simple things can be so hard. Ever try...
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When can Directors’ Crimes be Attributed to the Companies on Whose Boards...
This is a question with which English law has had to grapple on many different occasions and in many different contexts, both civil and criminal. It is even directly relevant to D&O insurance since...
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Best Practices for Approaching the F-word in Workers Comp (a.k.a. Fraud)
Workers comp fraud is estimated to cost insurers/employers over $7.2 billion annually, large enough to rank among the Fortune 500 if it were a legitimate business. Whatever the numbers, workers’...
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Scariest Risks of 2014
As risk advisors, WillisWire bloggers tend to think less of ghouls and goblins during the Halloween season than of the frightening real risks our clients face. This year they faced more than their...
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Our Scariest Fidelity Risk – When Employees Collude in Fraud
Most companies believe their internal controls and procedures are adequate and will reduce the likelihood of fraud occurring. However, many companies continually grow and change, forgetting to test and...
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Whistleblowers: You Know they Make Sense if You’re a Regulator!
The FCA published last week new rules on whistleblowing. The key requirements of the new rules are to: appoint a senior manager as their whistleblowers’ champion put in place internal whistleblowing...
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I am entitled to a lawyer being present if interviewed by the Serious Fraud...
We have all seen enough police shows to be familiar with the mantra that you are entitled to have a lawyer present, along with the warning that: You do not have to say anything. But it may harm your...
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Look out for the “Crackdown on White-collar Crime”
I was speaking at the same Cambridge Crime Symposium as made the front page of this Monday’s Times newspaper. Sadly, it wasn’t my talk on D&O and commercial crime insurance that attracted as much...
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Imperfect storm of cyber risk, fraud and lawsuits
Here’s a bad day turned into a bad week, month, year for a CEO of a mid-sized company. The mistake One of the firm’s best employees, who works in the office of the CEO and in a rush to get …
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Insider trading enforcement concerns rise on Supreme Court decision
In a ruling on Tuesday, December 6th, in Salman v. United States, the United States Supreme Court resolved a split among the circuit courts, essentially holding that if an individual gives confidential...
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Fakes and forgeries in the fine art world: What’s an art dealer to do?
This time last year, there were a series of frauds in the art world being discovered and an increase in museums and galleries hiring forensic investigators to verify artworks. Things look to be picking...
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Does public policy prevent recovery for fraud under Delaware law?
An interesting recent Directors and Officers (D&O) decision of the Delaware Court challenges the tacit assumption that public policy necessarily prevents recovery from insurers in cases where...
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