All Regulatory Policy articles – Page 27
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ArticleDOJ to emphasize individual accountability, prior misconduct in corporate crime probes
Deputy Attorney General Lisa Monaco announced sweeping changes to the Department of Justice’s efforts to fight corporate crime, including new guidance regarding individual accountability, voluntary self-disclosure, compliance monitors, and ways to strengthen compliance culture.
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ArticleRegulation by enforcement does nobody any favors
To see a prominent representative from the CFTC accuse the SEC of “regulation by enforcement” might raise the eyebrow of some observers. But it shouldn’t—not when that’s the latter’s stated strategy.
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ArticleExperts: Europe’s AI Act to push companies to confront technology’s use
The Artificial Intelligence Act, along with upcoming EU rules addressing digital markets and services, should have companies considering their use of AI and other emerging technologies to determine how the laws might impact their business.
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ArticleOCC names chief climate risk officer to lead new office
The Office of the Comptroller of the Currency has reinforced its commitment to confronting risks posed by climate change with the appointment of Yue (Nina) Chen as chief climate risk officer.
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ArticleOCC studying risks posed by bank-fintech partnerships
Bank-fintech partnerships have grown “at exponential rates” and become so complicated it is often difficult to distinguish “where the bank stops and where the tech firm starts,” Acting Comptroller of the Currency Michael Hsu said.
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ArticleSEC warns auditors of risks in taking on Chinese clients
U.S.-based audit firms seeking new public company clients in China should ensure they have full access to previous audits and work papers before taking the job or risk potential enforcement, the acting chief accountant at the Securities and Exchange Commission warned.
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ArticleEU countries take varied approaches to combating greenwashing
European regulators are taking greater steps to clamp down on companies’ misleading ESG claims, but experience shows different countries have differing priorities about tackling dishonest marketing.
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ArticleSEC reverses Clayton-era whistleblower rule changes
The Securities and Exchange Commission amended its rules to provide further incentives to whistleblowers, particularly in cases involving large payouts or multiple federal agencies.
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Too little, too late? SEC adopts long-dormant pay vs. performance rule
After years of sitting on the shelf, the pay vs. performance rule mandated by the Dodd-Frank Act was adopted by the Securities and Exchange Commission.
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Article‘A step in the process’: PCAOB, China agree on U.S. audit access
U.S. audit regulators are set to end yearslong inspection barriers to the work of public accounting firms headquartered in mainland China and Hong Kong after the Public Company Accounting Oversight Board reached agreement with Chinese regulators on a new access framework.
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ArticleLawsuit: HSBC Bank exec alleges discrimination, unauthorized WhatsApp use
Monique Thacker, a current HSBC Bank USA executive, claimed in a federal lawsuit she was discriminated and retaliated against for raising regulatory violations involving unauthorized communications by bank employees that were downplayed or ignored by management.
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ArticleFTC warns against COPA laws for hospital mergers
The Federal Trade Commission is urging state lawmakers to avoid the use of Certificates of Public Advantage for hospital mergers, warning the certificates increase costs for patients, slow wage growth for healthcare workers, and lead to compliance difficulties.
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ArticleFTC seeks to expand authority on data breaches, commercial surveillance
The Federal Trade Commission is seeking comment on potential rules that would penalize companies that suffer data breaches due to lax cybersecurity protocols and punish firms that engage in abusive commercial surveillance practices.
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ArticleSarbanes-Oxley 20th anniversary: Time to revisit SOX programs
Twenty years ago, in the aftermath of the Enron and WorldCom financial reporting scandals, Congress acted and created the Sarbanes-Oxley Act of 2002. Such a milestone anniversary marks a good time for organizations to refresh, rethink, and modernize their SOX programs.
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ArticleSEC, CFTC propose large hedge funds provide more financial disclosure
The SEC and CFTC proposed expanding Form PF disclosure requirements for large hedge funds to include more information on their investment strategies, investment exposure, open positions, and borrowing arrangements with counterparties, among other areas.
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ArticleCrypto regulation back in spotlight after SEC securities claims
The Securities and Exchange Commission’s move to classify nine cryptocurrencies as securities as part of insider trading charges it brought against a former Coinbase manager has touched a nerve with other regulators, particularly the Commodity Futures Trading Commission.
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ArticleSEC: Adherence to Reg BI should be embedded in compliance culture
Staff at the Securities and Exchange Commission warned investment advisers and broker-dealers they must continually identify, mitigate, and disclose all conflicts of interest regarding advice they make to retail investors to remain in compliance with Regulation Best Interest.
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ArticleEDPB adopts criteria for GDPR cross-border cooperation cases
The European Data Protection Board adopted a set of criteria to assess whether a cross-border matter might qualify as a case of “strategic importance” for closer cooperation—and how to proceed if it does.
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ArticleDear SEC: The compliance community wants to be a partner, not a target
Communication between the Securities and Exchange Commission and the compliance community is not happening as robustly as compliance practitioners would like. The result is compliance officers are more concerned than ever the agency will target them in an enforcement action.
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ArticleSurvey: Firms early to prep for SEC’s climate-related disclosure rule
Respondents to a Compliance Week/CohnReznick survey assessing readiness for the SEC’s climate-related disclosure mandate aren’t waiting to see how the proposed rule plays out before getting their compliance house in order.