Class Twenty-Eight: November 19, 2014

In today’s class, we will focus in on enforcement and compliance issues. Our initial reading offers a short overview of enforcement actions against financial institutions in recent years, drawn from selected updates on the topic by the Committee on Capital Markets Regulation (CCMR). We will then turn to a recent decision involving an enforcement action brought by the FDIC, followed by two items related to FIRREA enforcement actions, a May 2013 Memorandum from Jones Day and then a 2008 decision involving an OCC enforcement action. The next reading is a package of materials on a recent enforcement action regarding PwC and related proceedings, including a pair of recent press accounts as well as a background memorandum dated 15 November 2014. Finally, make sure you read of the draft Research Paper on Internal Control Procedures and Recent Trends, posted on the course iSite.