COMPLIANCE
Corporate Controls? What’s that?
[via GritCapital]
“New FTX CEO John Ray says “never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here”. “
“From compromised systems integrity and faulty regulatory oversight abroad to the concentration of control in the hands of a very small group of inexperienced, unsophisticated and potentially compromised individuals, this situation is unprecedented.”
Ahhhhh, so that’s what regulatory compliance is for…
SPONSORED
Speaking of corporate compliance, check this out to ensure you don’t become the next SBF or FTX.
FINTECH-DIGITAL BANKING
One Small Step for the Digital Dollar
The Federal Reserve Bank of New York plus a handful of banking giants such as HSBC, Mastercard and Wells Fargo are partnering up to test a digital dollar for twelve weeks. The test is to see if a digital token can speed up transactions.
CORPORATE BANKING
JP Morgan Stealthily Targets SMEs
Big banks are realizing they’re fighting tooth and nail with their competitors for the same big corporate clients.
So, banks such as JP Morgan, are trying to go under the radar by starting to target smaller businesses and businesses that may have otherwise been rejected for loans by big banks.
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