Corporate death penalty case

As one looks at the information-related hazards, and the probability of their occurrence and the impact if they do, is revocation of your corporate charter on the list? Where is this on the Board’s radar?

“J.P. Morgan Criminal Case May Trigger OCC Action,” Wall Street Journal, October 25, 2013 C3 http://on.wsj.com/169Xawt

If J.P. Morgan is convicted of criminal money-laundering, the Office of the Comptroller of the Currency says it must hold hearings to determine whether to revoke the bank’s charter.  Oh, boy, that’s hard to explain to your former shareholders.  At issue is warnings the bank may or may not have received about Bernie Madoff. Page C3? Does this affect your settlement calculus?

 

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Filed under Business Case, Business Continuity, Compliance, Governance, Operations, Risk, Value

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