Regulatory Compliance Association Reviews

New Playbook for 2020 vs 2008-  The CARES Bailout

New Playbook for 2020 vs 2008-  The CARES Bailout

Date: July 16, 2020
General Session: 12:00 PM ET to 1:30 PM ET
Location: Webcast (Free)

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This session will provide a review of the 2008 Financial Crisis versus the CARES Oversight of 2020.

As head of Jenner & Block’s COVID-19 Response Team, Mr. Barofsky counsels clients on how to navigate the crisis and the government’s response to the global pandemic. He draws upon his time as SIGTARP where he established and supervised the audit division that oversaw the financial assistance provided to corporations after the 2008 financial crisis, and provided real time advice and oversight as the US Department of Treasury developed and implemented many of the TARP programs.

Ms. Poster is the regulatory and governmental affairs lead for Horizon-Globex, an international security token offering “STO” software specialist and integrated block chain solutions provider. Amy completed a term assignment as a Senior Policy Advisor at the US Department of Treasury, Office of the Special Inspector General- TARP (SIGTARP), overseeing financial markets and domestic policy. She led critical audits on TARP recipients and Federal inter-agency investigations.


The program will also include a discussion of:

Lessons Learned from the 2008 Financial Crisis vs CARES Oversight

  • Oversight then and now
  • CARES oversight bodies- SIGPR, Congressional Oversight Commission, and Pandemic Response Accountability Committee (Senator Elizabeth Warren in 2008 TARP Congressional Oversight Panel)
  • Independence of the Special Inspector General
    • Brian Miller former GSA Inspector General
    • Trump “signing statement” condition for SIGPR reports to Congress
    • Avoiding “backdoor” bailouts (i.e. AIG during the financial crisis)
    • Transparency for reporting on recipients and activities
    • Audit vs Enforcement Focus?  (Note: SIGTARP total of 381 criminal convictions and $11 billion recovered as a result of its investigations)
  • Congressional Oversight Commission and Pandemic Response Accountability Committee (within CIGIE)

Paycheck Protection Program- Helping Small Businesses

  • PPP Failure to help Main Street 2.0 (billed as a lifeline for small businesses)
  • Challenge on oversight of Small Business Administration/ SBA Inspector General (Hannibal Ware)
  • Hotbed for Fraud and Abuse

CARES Act Compliance, Oversight, and Investigations

  • Checklist for Business
  • Navigating the crisis for compliance professionals and service providers-Compliance best practices, enforcement risks and recommendations

Session Chairman:

Walter Zebrowski, JD, CPA, Principal, Hedgemony Partners
Chairman, Regulatory Compliance Association

Senior Fellow from Practice:

Neil M. Barofsky, JD, Partner, Jenner & Block

Guest Lecturers:

Amy Poster, Risk & Regulatory Lead, Horizon Globex

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