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SEC, DOJ Say That ‘Pillow Talk’ and Texting Can Break the Law
As work has shifted into peoples’ homes and onto their personal communication devices, regulators like the Securities and Exchange Commission have ramped up enforcement of off-channel communication, insider trading violations. In a recent article by Agenda, Eric Young shares his expertise on the matter. “If insider trading is possibly involved, the board should also inquire with the general counsel and chief compliance officer whether criminal referrals and voluntary self-disclosures should [be] or have already been made to the SEC, FBI and other authorities — and what steps are being taken to prevent such violations from recurring,” said Young.
(Paywall)
Eric Young
Senior Managing Director
Eric T. Young advises highly regulated organizations on reengineering compliance, ethics, and regulatory technology programs to enable reputable and sustainable business growth. He has deep regulatory experience having spent close to 40 years in chief compliance officer roles at some of the world’s largest institutions, including five global banks. Throughout his career, Mr. Young has remediated and transformed corporate compliance programs and financial crime compliance programs including sanctions; integrated compliance and ethics cultures between regions, countries and companies to ensure consistency across enterprises; built compliance budgets; enhanced reporting; created governance frameworks and risk assessment, monitoring and testing programs; closed compliance gaps; restructured compliance teams; and mentored junior staff to create a pipeline of future compliance leaders and enable grassroots compliance ideas, solutions and digital upgrades.
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