Good morning. Trevor Milton, the founder of Nikola Corp. and onetime executive chairman of the electric-truck startup, was indicted Thursday on securities-fraud charges for allegedly lying to investors about its business making commercial trucks powered by alternative fuel.

Mr. Milton, who resigned from the company last September, faces two counts of securities fraud and one count of wire fraud, according to an indictment made public Thursday. The 39-year-old faces a maximum 25-year prison term if convicted of the top securities-fraud charge. The Securities and Exchange Commission also filed a civil complaint Thursday against Mr. Milton.

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Mr. Milton pleaded not guilty to the charges in federal court in Manhattan on Thursday and was released on $100 million bond. A spokesman for his lawyers—Brad Bondi, Marc Mukasey and Terence Healy—said Mr. Milton was innocent. “Mr. Milton has been wrongfully accused following a faulty and incomplete investigation in which the government ignored critical evidence and failed to interview important witnesses,” the spokesman said.

The federal charges represent another blow for Nikola, which was once worth more than Ford Motor Co. but has struggled since questions about its technology and products surfaced last year.

Technological innovation, the coronavirus pandemic and a shifting regulatory landscape are among the topics that are top of mind for Alonzo Weems, pharmaceutical company Eli Lilly & Co.’s new compliance chief.

Mr. Weems succeeded Melissa Stapleton Barnes, who retired from the Indianapolis-based company in June after about nine years as its chief ethics and compliance officer.

In an interview with Risk & Compliance Journal, Mr. Weems spoke about how compliance is changing for Eli Lilly in light of the coronavirus pandemic and the changing regulatory environment.

The U.S. plans a sanctions campaign against Iran’s evolving capabilities for precision strikes using drones and guided missiles, according to U.S. officials, amid concerns over the threat these weapons represent to American and allied interests.

The effort comes as Western security officials say they see those capabilities as a more immediate danger to Middle East stability than Iran’s nuclear-enrichment and ballistic-missile programs.

• For the first time, U.S. regulators have said that a knockoff version of a biologic drug is interchangeable with its branded equivalent, a milestone in the yearslong effort to bring greater competition to the market for expensive biologic drugs. 
   
• Americans are circumventing bans intended to stop U.S. customers from accessing overseas cryptocurrency exchanges, new research suggests.

Archegos Capital Management was one of the biggest trading disasters of all time, leading to $10 billion of losses across Wall Street. Hardest hit among the banks was Credit Suisse, which on Thursday published a lengthy investigation into what went wrong, unveiling many new details of failures inside the bank.

The report is similar to the lengthy reviews that followed JPMorgan Chase & Co.’s $6 billion trading loss, known as the “London Whale” episode, and Wells Fargo & Co.’s sales-practice scandal. It is likely to be studied closely by bankers, regulators and investors hoping once again that this sort of thing doesn’t happen again.

Here are some key takeaways from the report.

Procter & Gamble Co. said David Taylor would step down as chief executive after a six-year run atop the consumer products company where he battled with an activist investor, revived sales and navigated through a pandemic.

Mr. Taylor, 57 years old, will be succeeded on Nov. 1 by his top deputy Jon Moeller, also 57 and a company veteran. Mr. Moeller has been P&G’s chief operating officer for the past two years and was previously its finance chief.

Some tech giants and Wall Street banks are requiring their workers to get Covid-19 vaccines to return to their offices. A few U.S. airlines are telling new hires they must get inoculated. Most big manufacturers aren’t mandating injections. Neither is one of the main Covid-19 vaccine producers.

Though many companies had long encouraged, rather than required, vaccines, a rising number of Covid-19 cases and the spread of the highly transmissible Delta variant has led to a shift in thinking among some corporate leaders, said Francine Katsoudas, Cisco Systems Inc.’s head of human resources.

Here is a look at how companies are responding to the pandemic.

Send comments to the Risk & Compliance editor, Jack Hagel, at jack.hagel@wsj.com

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