All Regulatory Policy articles – Page 27
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News BriefBIS updates voluntary self-disclosure policy to punish not coming forward
The Commerce Department’s Bureau of Industry and Security updated its guidelines to further clarify the advantages of voluntary self-disclosure to the agency when export control violations are uncovered.
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News BriefEU lawmakers float changes to AI Act to account for ChatGPT
The European Union’s draft law to regulate artificial intelligence must be updated to include overarching controls on chatbots like ChatGPT, a group of European Parliament members wrote in an open letter.
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News BriefHHS teases policy changes stemming from cyber resiliency analysis
Some U.S. hospitals are falling short in protecting themselves from cyberattacks, with 29 percent of facilities recently surveyed lacking a documented GRC system, a new report from the Department of Health and Human Services found.
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News BriefBittrex charged by SEC amid U.S. departure efforts
The Securities and Exchange Commission announced charges against Seattle-based Bittrex and its co-founder and former CEO for operating an unregistered national securities exchange, broker, and clearing agency.
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News BriefFDIC vice chair: Access to data, employees slowed sale of SVB
The collapse of Silicon Valley Bank highlighted for the Federal Deposit Insurance Corporation some of the impediments to a quick bank sale, including failing to provide rapid access to quality financial data and lists of key employees.
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News BriefSEC commissioner calls out pitfalls in regulators’ structured data efforts
SEC Commissioner Hester Peirce warned about “potential pitfalls” with structured data, which regulators and lawmakers have embraced as a way to make data accessible and easy to use.
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PremiumAs final CPRA rules trickle out, a reminder companies must ‘grow with the law’
If companies haven’t started the process of coming into compliance with the California’s sweeping new privacy law, they need to begin now.
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News BriefOCC establishes Office of Financial Technology to keep pace with fintechs
The Office of the Comptroller of the Currency established its Office of Financial Technology to supervise the fintech industry as it grows at a “rapid pace.”
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News Brief
Biden presses banking regs to revisit Trump-era rollbacks
President Joe Biden called on federal banking agencies to consider reforms that would largely reverse changes to regulation made during the Trump administration regarding liquidity requirements, stress tests, and more.
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News BriefBipartisan bill would empower FDIC to pursue failed bank exec clawbacks
The Failed Bank Executives Clawback Act seeks to require the Federal Deposit Insurance Corporation to claw back five years’ worth of compensation from executives who lead failed banks.
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Premium‘An unexpected stress test’: European banks weathering storm of U.S. failures
Except for Credit Suisse’s demise, Europe has so far largely patted itself on the back for preventing further contagion in the banking sector following the failures of Silicon Valley Bank, Silvergate Bank, and Signature Bank in the United States.
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News Brief
SEC warns newly registered advisers of overburdening CCOs
Investment advisers newly registering with the SEC have been observed not devoting sufficient resources to their chief compliance officers, sometimes ladling additional responsibilities on the role that take away from time to focus on compliance.
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News BriefFinCEN mulling beneficial ownership reporting changes amid criticism
The reporting requirements of the beneficial ownership information registry being developed by the Financial Crimes Enforcement Network will likely be revised following harsh criticism from lawmakers and businesses.
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News BriefIowa privacy bill signed into law; effective 2025
Iowa became the sixth U.S. state to pass comprehensive data protection legislation allowing residents control over how their personal information is accessed and shared.
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News Brief‘Textbook case of mismanagement’: Regs point blame at SVB for collapse
Banking regulators defended their supervisory actions and pledged to find answers as to what went wrong when discussing the factors leading to the failures of Silicon Valley Bank and Signature Bank before the Senate Banking Committee.
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PremiumSurvey: Tech key to compliance in changing data privacy landscape
Respondents to a survey from Compliance Week and Exterro largely said they were confident their organizations are meeting regulatory requirements regarding data privacy despite evidence their data retention policies and procedures are outdated.
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News BriefPolite: Look to ABB case for ‘extraordinary cooperation’ example
Compliance officers seeking clarity on what the Department of Justice means by “extraordinary” cooperation or “immediate” self-disclosure should look to the agency’s case history, said Assistant Attorney General Kenneth Polite Jr. during a speech.
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News BriefCoinbase facing SEC enforcement over potential securities violations
Coinbase said it was served a Wells Notice by the Securities and Exchange Commission for potential violations of securities law regarding multiple of its cryptocurrency products.
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News BriefYellen says regs might cover deposits of other struggling banks
Treasury Secretary Janet Yellen said federal regulators are willing to extend the same financial assistance—perhaps even extended deposit insurance—to mid-sized banks struggling to handle the fallout from the failures of Silicon Valley Bank and Signature Bank.
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News BriefSEC chief accountant eyeing auditor use of network member firms
The Securities and Exchange Commission is paying added scrutiny toward audit firms’ increasing use of network affiliates in their work and the potential for inconsistent quality that comes with such an approach.