All articles by Joe Mont – Page 11
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Legal, governance challenges persist for Tesla
Having finalized a settlement with the SEC, Tesla now faces new controversies as the Justice Department and disgruntled investors take aim at the company and its mercurial founder.
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Blog
SEC wants updated reporting for life insurance contracts
Firms offering variable annuities and variable life insurance contracts could soon face new disclosure requirements. Changes proposed by the SEC would permit the use of a summary prospectus to provide disclosures to investors.
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New SEC rules demand improved mining company disclosures
The SEC has adopted amendments to improve and modernize disclosures by mining companies. The changes are intended to provide investors with “a more comprehensive understanding of a registrant’s mining properties.”
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SEC rule adds new customer disclosures for brokers
The SEC has advanced new rules and amendments that that will require broker-dealers to disclose to investors “new and enhanced information about the way they handle investors’ orders.”
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Data privacy bill threatens corporate fines, jail for executives
Sen. Ron Wyden (D-Ore.) has announced proposed legislation that would “impose harsh fines and prison terms for executives at corporations that misuse Americans’ data.”
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FDA, DHS partner on medical device cyber-security
The Food and Drug Administration and Department of Homeland Security have announced a new framework for greater coordination and cooperation when addressing cyber-security in medical devices.
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BlogCEOs pledge ‘commonsense corporate governance principles’
CEOs of 20 leading public companies, pension funds, and investment firms have signed onto a continuing effort intended to “jumpstart a national conversation on corporate governance.”
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State bank regulators sue OCC over FinTech charters
The Conference of State Bank Supervisors is suing to prevent the OCC from granting special national bank charters to non-banks, specifically FinTech firms.
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Prudential escapes SIFI tag, enhanced regulatory oversight
The FSOC has reversed a previous determination that material financial distress at Prudential Financial could pose a threat to U.S. financial stability.
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FinCEN advisor charged with leaking SARs to media
A senior advisor at the Financial Crimes Enforcement Network has been arrested and charged with leaking agency data to a reporter.
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Senators demand post-breach answers from Google CEO
U.S. Senators Catherine Cortez Masto (D-Nev.) and Amy Klobuchar (D-Minn.) have written a letter to Google CEO Sundar Pichai that demands more information regarding a recently reported breach.
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Blog
CII petitions exchanges over dual-class shares
The Council of Institutional Investors has filed petitions with the New York Stock Exchange and Nasdaq asking them to limit listings of companies with dual-class share structures.
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ArticleWorld Series compliance lesson: Take a hybrid approach to analytics
The World Series reinforced an important lesson in how compliance officers should deploy data analytics.
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ArticleCFPB pitches choose-your-own disclosure
The CFPB has proposed the creation of a regulatory “sandbox” for testing and approving new approaches to financial product disclosures.
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SEC releases new, four-year strategic plan
The SEC has released a new strategic plan that is intended to guide the agency’s work over the next four years “with a primary focus on investors, innovation, and performance.”
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ArticleSolutions for fixing proxy process are often radically different
Nearly everyone agrees that the current system of shareholder voting should be improved. How to do that is a contentious debate as an SEC roundtable on the matter draws near.
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Bank regulators respond to Hurricane Michael
Federal banking regulators have issued an alert for financial institutions affected by Hurricane Michael. The alert covers the storm’s effects on loan modifications, regulatory reporting, and compliance with the Community Reinvestment Act.
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Article
Google’s hidden breach could be regulatory tipping point
A March data breach, kept under wraps until now, could spell regulatory trouble for Google and its tech brethren.
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FinCEN advisory warns of Nicaraguan money laundering
The Financial Crimes Enforcement Network has issued an advisory to alert U.S. financial institutions of the increasing risk that proceeds of political corruption from Nicaragua may enter the U.S. financial system.
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Sanders’ bill would break up big banks
Sen. Bernie Sanders (I-Vt.) has introduced legislation that would “break up the nation’s biggest banks and risky financial institutions in order to safeguard the economy.” Rep. Brad Sherman (D-Calif.) will file a companion bill in the House.