Compliance Risk Concepts LLC (“CRC”) today announced that Steve Brown is joining the compliance professional services organization as Director of Broker-Dealer Client Services.  Steve brings 25-plus years of industry and regulatory compliance experience to advise CRC’s clients.

Over the duration of his career, Steve has been viewed as a leader in investment banking and control room compliance. Steve has been exposed to many regulatory situations through first-hand experience in building and executing over 100 compliance risk projects and 20 bank broker-dealer mergers and acquisitions. A practical, pro-business approach has been the key to Steve’s success throughout his career.

For the past nine years, Steve served as Senior Director within PwC’s Risk and Regulatory practice focused on advising global financial institutions. Previously, Steve was Managing Director and Head of Fixed Income and Capital Markets Compliance at U.S. Bancorp Investments, Inc., where he established an institutional compliance risk program. He started his career at Wachovia, where he established and managed the Global Investment Banking Compliance and Control Group responsible for corporate & investment banking regulatory, information barrier and conflicts of interest issues. Subsequently, Steve co-founded an ideation consultancy firm and worked at Goldman, Sachs & Co.

Steve has executed a wide range of projects, including: developing corporate and investment banking supervisory and compliance infrastructures; advising on broker-dealer new business expansions; integrating private wealth management businesses; executing global compliance risk assessments; and assessing global pension plan compliance plans.

"The addition of Steve’s leadership and critical skill-set enables us to continue to scale our business, building upon our competitive edge in delivering high-quality, cost-effective regulatory advice and services in a commercial manner to our clients while addressing the rapidly evolving compliance related expertise needed within the financial services industry ”, said Mitch Avnet, CRC”s Managing Partner and CEO.

Steve is a graduate of Lenoir-Rhyne University with a BA in Business and an emphasis in Accounting.

Compliance Risk Concepts LLC is a business-focused team of senior compliance executives who offer clients top-tier compliance risk management support services on an as-needed, project or part-time basis. CRC provides clients with the critical skills and expertise required to establish, maintain, enhance and credibly demonstrate a commitment to a strong culture of compliance and risk management.

For more information, please visit www.compliance-risk.com or call Mitch Avnet at 646-346-2468.

The post Steve Brown, former Senior Director within PWC’s Risk and Regulatory Practice, to lead Broker-Dealer Client Services appeared first on Compliance Risk Concepts.

Spotlight On Talent: Dan Dorsky, Principal and Head of Anti-Corruption and Ethics

These are fascinating times for U.S. and global enforcement of anti-bribery laws. More resources are being dedicated, more countries are participating, and the resulting outcomes have been extraordinary fines and penalties, along with enhanced risk of individual criminal prosecutions. Concurrently, the recent U.S. election may signal an inflection point; Mr. Trump has in the past spoken critically of the FCPA and he is now in a position to potentially act on those sentiments.

So where does that leave us? Will hindsight prove 2016 to be the high water mark for anti-bribery enforcement, or can we expect continuing and increased enforcement?

Let’s begin with a very abbreviated look at the current state. 2016 witnessed truly mammoth enforcement actions: VimpelCom suffered a $795 million penalty (split between Dutch and U.S. authorities), Teva Pharmaceuticals $519 million, Och Ziff $412 million, J.P. Morgan $264 million, and it has been reported that Telia Company may pay up to $1.4 billion. Perhaps of even greater significance, the biggest fine in history was recently announced; Odebrecht and its unit Braskem will pay a combined $3.5 billion (or perhaps a billion dollars more, depending on their ability to pay without going bankrupt). Notably, only $160 million of that amount will go to the U.S. The rest will be paid to enforcement authorities in Brazil and Switzerland. In a continuing trend, non-U.S. attention to anti-bribery laws is markedly increasing in several additional countries, such as France and Israel (Israel and Britain also made some notable arrests of corporate executives).

In this bulletin, Dan Dorsky shares his analysis of the potential impact of the Trump administration on these trends.

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ABOUT DAN DORSKY
Mr. Dorsky is a former Assistant United States Attorney in both the Southern and Eastern Districts of New York, and a former Chief Compliance Officer for an S&P 500 company.

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