A New View of Compliance


Post By: Adam Turteltaub

On June 9, 2021 the SCCE will be trying something different.

Our conferences have long been open to anyone interested. As a results we have drawn from a wide range of industries:  technology, manufacturing, insurance, you name it.

There has been one exception, though: banking.

For a variety of reasons the banking industry has generally been underrepresented at our meetings. These likely include a lack of banking-specific content, and the banking industry’s more product-driven approach to compliance. As a long-time compliance professional explained, banking compliance tends to be very specific to the products offered customers.

To try and help bridge the divide, the SCCE, with the help of Eric Young, a former banking Chief Compliance Officer, developed a new virtual program:  Compliance Solutions Across Industries. The agenda includes topics of interest to both banks and the rest of industry:

  • Assessing the Real-World Effectiveness of Your Compliance Program for Yourself, Leadership and Regulators
  • KYC/AML Requirements: Meeting Enhanced Social and Legal Requirements for Knowing Your Customer and the New AML Act
  • Latest Lessons to Be Learned from Anticorruption Enforcement
  • Navigating the Enhanced Antitrust Enforcement Environment
  • Compliance Challenges Posed by the Growth and Power of Big Tech and Social Media Companies
  • The Nexus of Governance and Compliance

The speakers come from companies such as Volkswagen, MassMutual, and Promontory Financial Group, as well as the US Department of Justice and New York State Department of Financial Services. We will even be joined by the retired Chief Justice of the highly influential Delaware Supreme Court.

Our hope is that this meeting will help enable both the banking sector and the rest of the corporate compliance world to start engaging with each other on an ongoing basis.

We have no doubt that both sides have much to offer each other.

As sanctions grow increasingly complex to navigate, there has never been a more important time to have a strong KYC program in place, and to take advantage of the expertise financial services firms already have.

Likewise, as banks grow more sensitive to the risks of anticorruption laws, particularly the FCPA, they can likely benefit greatly from the rest of industry’s years of experience navigating this very dangerous and expensive risk area.

Let me encourage you to spend some time learning more about this conference, and I hope you will be able to join us for our first Compliance Solutions Across Industries event.