While we can hope that we are seeing the end of the corporate governance scandals that have plagued companies world-wide, we must remain alert to the underlying causes of these scandals - inadequate corporate governance structures, compliance frameworks, and internal controls - and redouble our efforts to create a new compliance environment.
This new compliance environment must address the growth in complex structured finance transactions. What do we mean by complex structured finance transactions? Although each deal can vary, complex structured finance transactions generally have four common characteristics. First, they typically result in a final product that is often nonstandard and structured to meet the specific financial objectives of a customer.