As customers, employees, and regulators are looking to hold company boards and officers personally liable for damaging misconduct in the wake of risk governance failures, industry supervisors face heightened scrutiny from injured consumers, loss-suffering investors, and irate legislators and voters in a new era of accountability.
Observations
Sep 25, 2023Last week, a group of US banking trade associations — including the Bank Policy Institute, the American Bankers Association, the Financial Services Forum, the Institute of International Bankers, and others — published a letter to regulators. The trade associations claim that the US Federal Reserve, Office of the Comptroller of the Currency, and Federal Deposit Insurance Corporation violated the law by failing to publish the analysis and data supporting their capital requirements regime.
Observations
Aug 28, 2023Since her appointment in early 2022, Public Company Accounting Oversight Board (PCAOB) Chair Erica Williams has faced the challenging tasks of repairing a fractured organizational culture, bolstering enforcement efforts, and modernizing auditing regulations.
