All Regulatory Policy articles – Page 49
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ArticleTemper expectations on a U.S. federal privacy law in 2021
With the collapse of the EU-U.S. Privacy Shield comes an opportunity for the United States to address its data protection shortcomings. Just don’t expect a quick fix, as a litany of issues remain.
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ArticleRoisman to lead SEC transition as Clayton departs
Commissioner Elad Roisman will serve as acting chairman of the Securities and Exchange Commission while the agency heads for transition under the upcoming Biden administration.
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ArticleFinCEN proposes BSA reporting rule for cryptocurrency transactions
FinCEN has proposed a new rule looking to subject cryptocurrency transactions to similar AML reporting requirements placed on other financial institutions by the Bank Secrecy Act.
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ArticleSEC, China react as Trump approves foreign audit oversight bill
President Donald Trump signed into law a measure that will kick publicly traded Chinese companies off U.S.-based exchanges if they refuse to allow U.S. regulators to examine their finances.
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ArticleNew Zealand’s new privacy law comes with a refreshing twist—it allows for apologies
New Zealand’s new data privacy law allows an apology to be made without admitting guilt, a provision that follows with the island’s non-traditional form of leadership as one that focuses on empathy and the well-being of the people.
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ArticleThird time’s a charm? SEC adopts controversial extraction rules
After two failed iterations, the SEC has approved revamped rules laying out what commercial oil, natural gas, and mineral extraction companies must disclose about payments they make to U.S. and foreign governments.
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ArticleCongress passes defense bill with big ramifications for AML, whistleblowers
Congress’ defense spending bill approved Friday includes amendments that could dramatically alter the fight against money laundering, in addition to a new BSA whistleblower program with some kinks to be worked out.
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ArticleNew FinCEN guidance encourages information sharing among banks
FinCEN Director Kenneth Blanco announced updated guidance to encourage more financial institutions to share information among their peers regarding suspicious transactions.
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ArticleFive challenges for European CCOs heading into 2021
Many of the problems European compliance officers faced in 2020 will remain in place going into the new year, but new risks and new regulations will also present new challenges.
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VideoVideo: Compliance pros, cons included in Congress defense spending bill
Beneficial ownership provisions contained in Congress’ defense spending bill should go a long way in the fight against money laundering, but holes in the bill’s proposed whistleblower program are open for criticism, says Aaron Nicodemus.
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ArticleCFTC Chairman Tarbert to step down early next year
Heath Tarbert, chairman and chief executive of the Commodity Futures Trading Commission, will step down from his post early next year while remaining on as one of the agency’s commissioners.
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ArticleSEC accounting office acknowledges challenging year for auditors
Among other things, the SEC’s chief accountant discussed activities relating to public company financial reporting, accounting and auditing policy updates, and financial reporting considerations related to COVID-19 at a conference this week.
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ArticleCongress approves enhanced protections for antitrust whistleblowers
After four tries, Congress has finally passed a bill prohibiting employers from retaliating against whistleblowers who report violations of antitrust laws to the Department of Justice.
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PremiumHow will Biden administration impact compliance
Six senior compliance practitioners reflect on how they anticipate the Joe Biden presidency, and the expected regulatory changes coming with it, will impact the compliance function.
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ArticleTen things I’d like to see happen in 2021 (2020 in review)
Many of the things I’d like to see in 2021 are directly related to regulatory changes we anticipate are coming under a Biden administration, but they’re mixed with a few lessons from the pandemic we hope carry into a post-COVID world.
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ArticlePaul Sarbanes, co-author of SOX accounting law, dies at 87
Paul Sarbanes, the five-term U.S. Senator whose landmark law, the 2002 Sarbanes-Oxley Act, required more transparency in corporate financial reporting, died Sunday at age 87.
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ArticleBiden’s SEC set to require disclosure of ESG, climate change risk
The SEC under President-elect Joe Biden will push ESG and climate change-related risk alerts, guidance, and rulemaking that will likely require companies to disclose how these risks affect their bottom line.
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ArticleCongress passes bill forcing Chinese companies to comply with U.S. audit rules
In a bipartisan and unanimous vote, the House passed a bill Wednesday that could kick publicly traded Chinese-based companies off U.S. exchanges.
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ArticleWhy OCC ‘Fair Access’ proposed rule is a win-lose
How can true cooperation be achieved when the solution being proposed is essentially to pit high-risk, controversial banking customers against the banks with which they want to do business, wonders Jaclyn Jaeger.
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ArticlePCAOB to adopt SEC auditor independence updates
The Public Company Accounting Oversight Board will adopt amendments to its independence standards to align with recent updates initiated by the Securities and Exchange Commission.