As the Federal Reserve Bank of New York moved to beef up its oversight of Wall Street two years ago, the team charged with supervising the nation’s largest bank, JPMorgan Chase, was in turmoil. Fed examiners embedded at JPMorgan complained about being blocked from doing their jobs. In frustration, some requested transfers.Full Story»
Two leading consultants say companies must create lower risk environments for fraud. To do so, they argue, organizations first must understand their own corporate ecology — the interrelations between people and their workplace — and tailor controls to the nature of those systems.
A third Major League Baseball team—the Oakland Athletics—has agreed to pay back wages and damages to a group of current and former employees to settle government claims that they had been illegally underpaid.
Efforts by American Apparel’s board to oust founder and CEO Dov Charney don’t impress columnist Gael O’Brien. It’s one thing to tolerate a philosophy that a sexually-charged workplace fosters creativity, she writes, but another to allow “the repugnant behavior of its leader, who sexualized the workplace as a stalking ground for employee relationships called consensual, disregarding disparity of age and power.”
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