All articles by Joe Mont – Page 30
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Blog
Data breaches hound SEC’s CAT plan, inspire legislation
A massive, soon-to-launch SEC database faces renewed scrutiny and delay demands in response to a recently disclosed cyber-breach.That attack, and other breaches, are also serving as the catalyst for both new and resurrected legislation in Congress.
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Recent data breaches impart third-party risk lessons
The data breaches at Yahoo, Equifax, and the SEC send a collective warning to organizations everywhere to improve their own third-party risk assessment.
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Managing global compliance expectations at the Golden Arches
Haydee Ortiz Olinger reflects on her 31 years as McDonald’s global compliance chief and what lessons she learned from her crucial role at the fast food giant.
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SASB opens comment period on ‘Exposure Draft Standards’
Four years in the making, and the penultimate step in a six-year plan, the Sustainability Accounting Standards Board has opened its latest "Exposure Draft Standards" for 79 industries for public review.
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Treasury issues second report on ‘core principles of financial regulation’
The Treasury Department has released its second report, as demanded by a presidential order, with recommendations to streamline the regulatory system and improve capital markets.
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CFPB finalizes its polarizing payday lending rule
Plunging itself into yet another industry-led political battle, the CFPB has finalized new payday lending rules. It will require that lenders determine upfront whether customers can afford repayment.
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Bill would break up Wells Fargo and other megabanks for misdeeds
Rep. Maxine Waters has unveiled the Megabank Accountability and Consequences Act, legislation demanding that federal banking regulators initiate proceedings to wind down big banks that repeatedly violate consumer protection laws.
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Bill targets ‘burdensome’ Dodd-Frank regulations, SIFI designations
Bipartisan legislation is looking to bring regulatory relief to regional banks and bring about new ways for calculating whether an institution should be designated as systemically important.
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President Trump touts $300M in reclaimed regulatory costs
President Trump and his administration are claiming that an ongoing deregulation agenda has saved the nation an estimated $300 million. Meanwhile, those efforts are bolstered by the creation of a new, like-minded business group.
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Senate confronts legal, logistical roadblocks to self-driving cars
Legislation that would clarify lingering legal conundrums about autonomous vehicles is working its way through the Senate with the American Vision for Safer Transportation through Advancement of Revolutionary Technologies Act.
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In cyber-security, you are your own worst enemy
Highly publicized breaches at the SEC and Equifax reveal how compliance efforts and reputation protection is often undermined by a lack of common sense.
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Beyond the breach: SEC’s Clayton on clawbacks, fiduciary rules, and materiality
While much of his time before the Senate Banking Committee last week focused on a newly disclosed 2016 data breach, SEC Chairman Jay Clayton weighed in on numerous other topics.
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SEC’s Clayton provides update on EDGAR breach
An update issued by the SEC on Oct. 2 outlines projects and initiatives it has launched in the aftermath of a recently announced 2016 breach of the EDGAR filing system.
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FSOC lets AIG shed ‘systemically important’ status
The Financial Stability Oversight Council has de-designated AIG as a systemically important financial institution, a classification that had placed heightened prudential standards and regulatory expectations upon the non-bank.
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SEC offers relief, deadline extensions for hurricane victims
The SEC is providing regulatory relief to publicly traded companies and others unable to meet filing requirements due to hurricane damage and mail disruptions.
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CFTC makes pitch for self-reporting, cooperation in enforcement actions
The CFTC, with lessons learned and expectations informed by similar programs at other federal agencies, is promoting new self-disclosure and cooperation agreements with the firms it oversees. James McDonald, director of the Division of Enforcement, outlined the program in a recent speech.
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Exasperated Clayton briefs Senators on SEC breach
SEC Chairman Jay Clayton provided fresh insight into the Commission's recently annunced 2016 data breach during scheduled testimony before the Senate Banking Committee.
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News headlines complicate looming arbitration vote
As Republican critics of the CFPB’s arbitration rule prepare for a Senate vote to repeal it, news headlines are giving their progressive opposition plenty of ammunition and leverage..
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Hungry for a ‘win,’ Republicans unveil tax reform framework
Republican legislators have released the outline of an ambitious tax package that rethinks payments by individuals and corporations alike. Among the plans is reducing the corporate tax rate to 20 percent.
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Senators want Equifax answers on clawbacks, disclosures
Sen. Elizabeth Warren (D-Mass.) and fellow senators have expanded their investigation into the recent Equifax breach, the company's response, and the possibility of executive pay clawbacks.