Jack J. Kelly, Author at Compliancex

Meet the woman who wrote a shocking account of her life on Wall Street

Jack J. Kelly Wall Street March 9, 2023

Jamie Fiore Higgins didn’t leave her job at Goldman Sachs planning to reveal the most personal, demeaning and, at times, outright scary moments from her 18 years at the investment bank. But after resigning in 2016, having risen through the ranks to become a managing director ...Read More

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Credit Suisse delays annual report after ‘late call’ from the SEC

Jack J. Kelly SEC, Securities and Exchange Commission March 9, 2023

Credit Suisse can’t catch a break. In the latest piece of troubling news, the beleaguered Swiss bank has delayed the publication of its 2022 annual report following a “late call” from the US Securities and Exchange Commission on Wednesday evening. The SEC got in touch ...Read More

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Disgraced Goldman banker Roger Ng gets 10 years for helping steal over $4B

Jack J. Kelly Money Laundering, Scandal March 9, 2023

A “Wolf of Wall Street” will spend the next decade in a federal pen. Former Goldman Sachs banker Roger Ng was sentenced to 10 years in prison on Thursday for his role in helping to loot billions of dollars from Malaysia’s 1MDB sovereign wealth fund. A jury in ...Read More

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JPMorgan Chase sues former executive Jes Staley over Jeffrey Epstein relationship

Jack J. Kelly Lawsuit, Sex Trafficking March 9, 2023

JPMorgan Chase sued former executive James Edward “Jes” Staley, who was largely responsible for JPMorgan’s 15-year financial relationship with disgraced financier Jeffrey Epstein. The US Virgin Islands government filed a lawsuit against JPMorgan in December, alleging the bank “had a more than close-up view ...Read More

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SEC Charges Rio Tinto plc with Bribery Controls Failures

Jack J. Kelly Bribery, SEC, Securities and Exchange Commission March 8, 2023

The Securities and Exchange Commission today announced charges against global mining and metals company, Rio Tinto plc, for violations of the Foreign Corrupt Practices Act (FCPA) arising out of a bribery scheme involving a consultant in Guinea. The company has agreed to pay a ...Read More

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DOJ Announces New Guidance on Executive Compensation and Evaluation of Corporate Compliance Programs

Jack J. Kelly CEO, Compliance, DOJ, Executives March 8, 2023

On March 2 and 3, 2023, during speeches by Deputy Attorney General (DAG) Lisa Monaco and Assistant Attorney General (AAG) Kenneth A. Polite, Jr., at the ABA’s annual White Collar National Institute in Miami, the U.S. Department of Justice’s (DOJ) Criminal Division announced several policy updates consistent ...Read More

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Wall Street pushes back against SEC stock market reforms

Jack J. Kelly NYSE, SEC, Securities and Exchange Commission, Stocks, Trading March 8, 2023

The New York Stock Exchange teamed up with retail broker Charles Schwab Corp (SCHW.N) and market maker Citadel Securities on Monday to ask the U.S. Securities and Exchange Commission to withdraw two recently proposed rules aimed at revamping how stocks trade. The move represents a coordinated ...Read More

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SEC Files Emergency Action Against BKCoin for Running $100M ‘Ponzi-Like’ Scheme

Jack J. Kelly Assets, Cryptocurrency, Hedge Fund, Ponzi Scheme March 8, 2023

The U.S. Securities and Exchange Commission (SEC) was granted emergency relief by a Florida court on Monday to freeze and appoint a receiver for the assets of Miami-based crypto hedge fund BKCoin and one of its co-founders, Kevin Kang. According to regulators, BKCoin and Kang raised ...Read More

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Crypto Companies Behind Tether Used Falsified Documents and Shell Companies to Get Bank Accounts

Jack J. Kelly Cryptocurrency, Fraud March 3, 2023

In late 2018, the companies behind the most widely traded cryptocurrency were struggling to maintain their access to the global banking system. Some of their backers turned to shadowy intermediaries, falsified documents and shell companies to get back in, documents show. One of those ...Read More

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Financial aid startup Frank founder fires back at JP Morgan Chase

Jack J. Kelly Fraud March 2, 2023

JP Morgan Chase faced new accusations from Charlie Javice, the young entrepreneur behind the student financial aid startup Frank, which the bank acquired in a $175 million transaction chief executive Jamie Dimon has since called “a huge mistake.” Javice fired back on Monday, formally ...Read More

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