December



CMS.DataEngine.CollectionPropertyWrapper`1[CMS.DataEngine.BaseInfo]
Profile Image Verifile
December 28, 2017
Blog Article Image

New California laws and pre-adverse letters

When a potential employer is considering not hiring an applicant due to their criminal history, they must follow the Fair Credit Reporting Act (FCRA) protocol.
 
In California this goes further, as new employers must inform the applicant using specific written notifications warning of potential adverse action.

Read More
CMS.DataEngine.CollectionPropertyWrapper`1[CMS.DataEngine.BaseInfo]
Profile Image Verifile
December 20, 2017
Blog Article Image

JPM's employee screening failures offer lessons in background checks, records

Reuters reports that the Financial Industry Regulatory Authority (FINRA) has fined J.P. Morgan Chase & Co  $1.25 million ffor lapses in background checks shows the importance to compliance of ensuring proper employee screening.

FINRA fined J.P. Morgan Securities for incomplete background checks on 95 percent of its non-registered associate employees from January 2009 through May 2017. The failures violated regulatory imperatives and prevented the firm from determining whether these persons would have been otherwise disqualified from working at the firm.

Read More
CMS.DataEngine.CollectionPropertyWrapper`1[CMS.DataEngine.BaseInfo]
Profile Image Verifile
| Identity Verification Checks
December 4, 2017
Blog Article Image

Finra Slams J.P. Morgan Securities Over Background Check Failures

J.P. Morgan recently was fined $1.25 million by the Financial Industry Regulatory Authority (FINRA) for failing to conduct “timely or adequate background checks” on about 95% of its registered associated persons.

The company failed to fingerprint 2,000 of its non-registered associated persons in a timely manner, preventing the firm from determining whether those persons could have been deemed unsuitable to work at the firm. In addition, the firm limited its screening to criminal convictions specified in federal banking laws and an internally created list for other non-registered associated persons. In total, FINRA alleged J.P. Morgan did not appropriately screen 8,600 individuals for all felony convictions or for disciplinary actions by financial regulators.

Read More