Photo: Diego M. Radzinschi/ALM $8M SEC Penalty Shows That Compliance Testing Isn't Enough
"You have to recognize that testing without a commitment to fixing serious flaws is a significant problem," said Rob Chesnut, former general counsel and chief ethics officer for Airbnb Inc.
October 29, 2021 at 02:16 PM
3 minute read
Risk and Compliance
The Fixed Income Clearing Corp.'s alleged failure to correct problems that the clearing agency detected in its risk management system has resulted in an $8 million Securities and Exchange Commission fine and should serve as a wake-up call for organizations that are turning a blind eye to compliance weak spots.
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