Chief Compliance Officers Going Through Scrutiny


As a chief compliance officer, you need to be concerned about your personal liability or your company’s chief executive officer. Research shows that at least 81% of the respondents were concerned. The increasing rate of personal liability is alarming. On April 19th, 2016, a survey done by DLA Piper indicates that about 81% of compliance officers increased their worry concerning their personal liability in circumstances of corporate misconduct. According to this research, the federal agencies turned up the heat by carrying out investigations on compliance officers.

The recent findings given by the 2016 Compliance and Risk Report rotate around the vocalization of priorities coming from Washington like the appointment of Hui Chen to the Justice Department as its first compliance counsel. The release of Yates Memo clearly indicates a plan to incentivize changes and impeach individuals who are corporate employees. The regulatory bits of the survey are in the responses given by compliance officers who are going through an increasing personal accountability for corporate misconducts. Some of these officers might not have perpetrated the wrongdoing while others are guilty.

Results from this survey indicate that there is a concern by most of the chief compliance officers, specifically officers in the private companies. The concerned officers are in industries with high regulations like financial services, chemicals, and healthcare. A quarter of the respondents believe that they lack enough resources to deal with emerging issues. Therefore, the likelihood of experiencing severe worries while moving to compliance landscape is high. Compliance officers need to deal with new risk areas in a bid to encourage ethical and compliant cultures as well as shield themselves from legal actions. Another concern is the allocation of resources and budget allocation.

Helane Morrison

Helane is the chief compliance officer, managing director and general counsel of Hall Capital Partners LLC. Helane joined the firm in 2007. Before that, she was the head of the U.S. Securities and Exchange Commission at the San Francisco Office. She was in that office from 1999 to 2007. While she was the Regional Director and District Administrator, Helane prides herself in the enforcement of securities, regulatory matters, and litigation. She was the head of execution for the office in San Francisco from 1996 to 1999. According to Hall Capital article, Helane was a representative of Securities and Exchange Commission in financial communities, legal, news media and legal agencies.

Before that, Helane Morrison was practicing law at Howard, Canady, Rice and Nemerovski law firm in San Francisco. In 1991, she became a partner. She is a member of the Regional Parks Foundation Board as well as Hedge Fund Subcommittee. Additionally, she is a periodic speaker on matters concerning legal issues and compliance that affect investment advisers.

Igor Cornelsen: Three Tips to Choose the Best Country for Investment


Despite the current economic problems facing Brazil’s economy, the country has qualities that still make it an attractive destination for investors. First, Brazil is a large market on for more than 200 million people, a top food supplier in the world, increasing middle-level income and a market for multinationals. It is the biggest country in size and economy in South America and is currently having an increase in demand for infrastructure development.

The Brazilian economy on has negatively affected the price of stocks which now appear to be in the bottom of the cycle despite the country having abundant natural resources. However, investors seem to be having confidence in the economy with many of them still considering to start a new business in the country. This desire for investors appears to be a new turning point for the economy. It is especially an exciting time for Brazil according to Igor Cornelsen.

Igor Cornelsen is a well-respected and top Brazilian banker and investment expert who is well known for three important tips to consider when choosing a country to invest. Cornelsen is well conversant with Brazil’s economy and its potential to be a key player in the world economics. According to Igor Cornelsen, there are three tips to choose the best country for investment.

Connect with the natives
Like any other country you may want to invest, the culture is important especially understanding how to establish relationships and networking. Igor Cornelsen believes that finding connections in Brazil is easy. First, Brazil has a large workforce of young entrepreneurs. Brazilian people are social, and they welcome and accept people from all over the world.

Prepare for the red tape
Igor Cornelsen advises potential investors to be aware of the bureaucracy in the country. For instance, the state enforces restrictive labor market rigidity, pervasive red tape, high taxes, regulatory and complexity. On the positive side, it is a growing market which is still fragile hence the reason for regulation to make a firm foundation. According to Igor Cornelsen, those who make informed decisions and put the right effort in the work to be done are the one who rip the best payoff.

Know foreign-currency restrictions
Brazil enforces tight control of the foreign-currency transactions especially those that need authorization from financial institutions. The country has no single exchange rate for foreign currency; the rate is determined by the nature of the transaction. It is important to ensure you are using the right at all times.

In such an uncertain climate, the Brazilian bankers in the private sectors are only lending to borrowers known to be worthy of credit. The motive is to streamline costs while helping the banks have a sense of security moving forward. Nevertheless, the Brazilian government has a role take to make sure investors feel secure as well as implementing market-oriented reforms and fiscal austerity.

Venezuela Cuts Their Oil Shipment to Cuba and the Carribean By Half


OPEC considers Venezuela the 5th largest oil export nation in the world. From the 1950s to the 1980s, it was one of the richest nations until oil prices collapsed in the 1980s. Venezuela wasn’t able to return to the thriving nation it once was said by David Osio in an interview. In 2012, Venezuela exported 400,000 barrels of crude oil a day to Cuba. In 2015, the troubled nation reduced its crude oil exporting to 200,000 barrels per day. The crude oil lowered the deficit from around $30 billion to about $22.5 billion back in 2015. Cuba is the most important ally Venezuela has under the Madura administration. Being the largest oil producing nation in Latin America, Venezuela’s economy depends on their crude oil sales.
Cuba has not been given an exception for the cuts made in oil shipment when shipment prices started dropping in the summer of 2014. There are reports according to David that Cuba has only received 55,000 barrels of oil per day since September 2014. Paid services rendered from physicians and sports trainers helped contribute to the fee paid by Cuba for Venezuelan crude oil. Other countries, such as Dominican Republic and Jamaica have had their crude oil supplies cut back almost 75 percent. The dwindling food and energy supply is rooted in the lower oil prices. It has also hurt the economy by cutting exports of oil. Prices are the lowest in more than a decade.