All articles by Joe Mont – Page 17
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Blog
FinCEN issues advisory on abuses enabled by political figures
The Financial Crimes Enforcement Network has issued an advisory to U.S. financial institutions to highlight the connection between corrupt senior foreign political figures and their enabling of human rights abuses.
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Blog
Net neutrality is dead, but battles rage on
The era of “net neutrality” has ended. On Monday, the Federal Communications Commission’s Restoring Internet Freedom Order went into effect. Battles are already afoot to restore the former status quo.
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Blog
Senators want scrutiny of Trump tweet on unemployment data
Democratic senators wants regulators to investigate whether “President Trump’s reckless comments on market-moving economic data" was a catalyst for insider trading. On June 1, Trump tweeted about positive employment numbers before the data went public.
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Blog
SEC’s Jackson urges a review of stock buyback rules
SEC Commissioner Robert Jackson is voicing his concerns about corporate stock buybacks and says research produced by his staff “raises significant new questions about this activity.” He wants the Commission to reconsider existing rules.
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ArticleSpecial report: Navigating geopolitical risk
From sanctions to tariffs, the U.S. is increasingly a source of geopolitical risk. How can companies protect their own interests when it seems the world is against them?
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BlogCFPB’s Mulvaney disbands Consumer Advisory Board
Mick Mulvaney, acting director of the CFPB, has disbanded his agency’s Consumer Advisory Board, dismissing 25 outside experts who were intended to help shape agency policy. It is the latest in a series of moves to reshape the Bureau into Mulvaney’s more business-friendly vision.
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Blog
ZTE agrees to $1.4B settlement with ‘stringent compliance measures’
Chinese telecom giant ZTE Corp. has agreed to “severe additional penalties and compliance measures” to replace a U.S. Commerce Department’s denial order.
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Blog
SEC, CFTC make their case for more funding, boosting cyber-security
Requesting increased funding for Fiscal Year 2019 before a Senate committee, the heads of the SEC and CFTC touted the need to ramp up their internal cyber-security efforts and external supervision and enforcement of breaches.
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ArticleDoing the right thing can be a costly investment
High-profile corporate woes are a reminder: Act fast when confronted by malfeasance and worry about the cost afterwards.
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Blog
Mexico announces retaliatory tariffs targeting U.S.
Mexico has announced trade retaliation efforts against the United States, a response to recent steel and aluminum tariffs put in place by the Trump administration.
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Blog
FDIC greets new chairman
Jelena McWilliams was sworn in this week as the new chairman of the Federal Deposit Insurance Corporation. She succeeds Martin Gruenberg.
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Article
Volcker rule rehash drives renewed backlash from Dem regulators
Proponents of a new multi-agency proposal to amend the Volcker rule tout its compliance-relieving benefits for small- and medium-sized banks. Critics, who had a chance to vote this week, fear that the plan “euthanizes” it.
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Blog
SEC allows shift from paper fund reports
The SEC voted unanimously Tuesday on initiatives to improve the experience of those who invest in mutual funds, ETFs and other investment funds.
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ArticleRisk assessments, paired with emerging technologies, can supercharge compliance
There are plenty of technological solutions to consider as part of a modern compliance program. The data you collect, however, and implementation strategies, are just as important as the tools you choose.
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Blog
OCC highlights key risks for the federal banking system
The Office of the Comptroller of the Currency has released the latest edition of its Semiannual Risk Perspective. Key themes include: credit, operational, compliance, and interest rate risks for the federal banking system.
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Blog
Amid brewing trade war, U.S. enters a battle over wine sales in Canada
The U.S. has added wine sales in Canada to its list of international trade battles. The Trump administration has requested that the World Trade Organization broker a settlement over "unfair regulations" in British Columbia.
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Blog
Trump’s tariffs inch U.S. closer to a multinational trade war
The White House on Thursday announced new steel and aluminum tariffs imposed on Canada, Mexico, and the European Union. Those countries are now threatening retaliation with targeted tariffs of their own.
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Article
Fed pitches a new effort to streamline Volcker rule
On the heels of new legislation targeting reach of the Volcker rule to small- and medium-sized financial institutions, the Fed has announced its own plan for streamlining the Dodd-Frank Act’s regulatory centerpiece.
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ArticleSelf-disclosure can root out conflicts of interest
The world is a complicated place. Life choices and side hustles are increasingly pushing employees toward potential conflicts of interest. A solid risk management strategy can keep them happy while creating the visibility needed to protect company interests.
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Podcast
Podcast: Coping with new liquidity risk rules for investment firms
In this edition of the Compliance Week podcast, we chat with Jeanette Turner, chief Regulatory Officer at Compliance Solutions Strategies, about requirements in the SEC’s Reporting Modernization and Liquidity Risk Management rule.