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I've enjoyed following the SLI story. In reading the debate on leadership, or the lack thereof, I'd like to point out that technically the Board is the boss of the President. Not the other way around. This was one key reason I never did buy-in. The Board never operated as a Board. There were no board meetings; which are required. The Board is required to set direction and direct leadership and hold the leadership accountable. That was never happening either. This company never practiced proper Corporate Governance. Huge flag for me back in 2011
Board roles and responsibilities. https://www.sfu.ca/~mvolker/biz/bod.htm
If you're referring to me nope you're wrong. Never owned a share. Started watching when my now deceased husband and I were talking about investing along with so many - at $1.80. We didn't, but I know so many that did. And it sickened both my husband and I to see what's happened to so many good people and very dear friends.
I'm just sharing what I do know, with 29 years in banking as management. My identity is no secret. Lots of folks that read the forum know who I am.
I mean no harm to anyone.
Sincerely Cynbin
I hadn't read Sculpin's post before I posted mine. But actually yes a Compliance Department is responsible. Compliance reports directly to the board of directors and even the executives of financial insititutions are scrutinized by Compliance. Employee accounts are monitored even more stringently than customers.
Just remember the employees aren't going to tell you if they see you make a suspicious transaction. Its all behinds the scenes and if you haven't worked in a bank you wouldn't have any idea how sophisticated this program is.
So be careful how you use your bank accounts because its all monitored. Everything.