News | Compliance Week – Page 37
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News Brief
New York vies to lead way on cryptocurrency regulation
New York would be the first state in the nation to comprehensively regulate cryptocurrency under a sweeping bill introduced by Attorney General Letitia James.
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News Brief
SEC charges investment adviser in landmark Liquidity Rule case
The Securities and Exchange Commission charged New York-based Pinnacle Advisors and several mutual fund trustees with aiding and abetting violations of its Liquidity Rule—the agency’s first enforcement action related to the policy.
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News Brief
U.S. set to expand sanctions in Sudan
The United States is preparing to issue sanctions on individuals and entities it considers responsible for perpetrating civil unrest in Sudan.
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Canada approves supply chain law for large companies
Large Canadian businesses must meet new supply chain rules starting in January that are designed to prevent products tainted by forced and child labor from entering the country.
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News Brief
Ex-Uber security chief avoids prison in obstruction case
The former chief security officer of Uber Technologies was sentenced to probation by a federal court judge as punishment for his involvement in covering up a 2016 data breach that affected 57 million users.
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News Brief
SEC shatters whistleblower award records with $279M bounty
The Securities and Exchange Commission announced its largest-ever whistleblower award at nearly $279 million—more than double the agency’s previous record bounty.
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News Brief
Facebook faces data monetization limits in third FTC order
Facebook violated a 2020 data privacy order that mandated enhanced privacy controls for users, the Federal Trade Commission alleged, recommending stricter controls be imposed on the social media giant.
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News Brief
Stryker facing new scrutiny over possible FCPA violations
Stryker disclosed it is investigating whether certain of its business activities might have violated the Foreign Corrupt Practices Act. The company previously settled Securities and Exchange Commission charges of violating the FCPA twice in the last decade.
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News Brief
Indiana privacy bill signed into law; effective 2026
Indiana became the latest in a growing number of U.S. states with a comprehensive consumer data privacy law on the books.
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News Brief
COSO report offers updated fraud risk management program blueprint
A new report from the Committee of Sponsoring Organizations of the Treadway Commission offers a blueprint to organizations for establishing an overall fraud risk management program.
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News Brief
SEC commissioner: ESG standards attempt to ‘measure the unmeasurable’
Hester Peirce of the Securities and Exchange Commission argued materiality-based standards—not environmental, social, and governance standards—best suit investors’ needs during a recent speech.
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News Brief
FTC attorney says agency concerned with generative AI use
The Federal Trade Commission is closely tracking company use of artificial intelligence tools for possible rule violations involving deception, discrimination, excessive manipulation, or unfairness.
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News Brief
Lawmakers pressure SEC to examine Shein’s sourcing practices before IPO
Two dozen lawmakers have demanded the Securities and Exchange Commission require an independent third party to verify fast-fashion retailer Shein does not use Uyghur forced labor before allowing it to go public.
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News Brief
Crypto exchange Poloniex to pay $7.6M in OFAC sanctions case
Cryptocurrency exchange Poloniex agreed to pay nearly $7.6 million as part of a settlement with the Office of Foreign Assets Control for engaging with more than 200 customers across a handful of sanctioned regions.
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News Brief
SEC reopens comment period on beneficial ownership proposal
The Securities and Exchange Commission reopened the comment period on proposed changes to “modernize” its beneficial ownership rule, including shortening certain filing deadlines.
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News Brief
First Republic Bank closed, sold to JPMorgan Chase by FDIC
San Francisco-based First Republic Bank was closed by state and federal banking regulators over the weekend, then sold to JPMorgan Chase Bank. The failure is the second largest in U.S. banking history.
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News Brief
Fed pledges heightened supervision following SVB collapse
The Federal Reserve Board will likely recommend strengthening regulatory and supervisory procedures for mid-sized regional banks in the aftermath of the failure of Silicon Valley Bank.
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News Brief
Mastercard facing DOJ probe into debit practices
Mastercard said it is under investigation by the Department of Justice’s Antitrust Division regarding the company’s debit card program and competition with other payment networks and technologies.
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News Brief
ChatGPT back in Italy after user privacy updates
ChatGPT restored access for Italian users after changes to its privacy controls were welcomed by the country’s data protection authority.
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News Brief
Attorney pleads guilty to aiding sanctioned Russian oligarch
New York attorney Robert Wise faces up to five years in prison after pleading guilty to making payments to maintain U.S. properties secretly owned by sanctioned Russian oligarch Viktor Vekselberg.