- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2020-11-16T22:42:00
SEC Chairman Jay Clayton will step down from his post at the end of the year, allowing the Biden administration to choose his successor immediately upon taking over the White House.
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Jay Clayton, former chairman of the Securities and Exchange Commission, will be returning to Sullivan & Cromwell as senior policy advisor and of counsel in the firm’s New York office.
Gary Gensler, former chairman of the Commodity Futures Trading Commission, has been picked to be the next chairman of the Securities and Exchange Commission by President-elect Joe Biden.
Marc Berger, who has served as acting director of the Division of Enforcement at the SEC for a few short weeks, will leave the agency later this month.
Any product that uses AI needs to be safety assessed for its entire lifespan under new rules that went into effect recently across the EU. Experts warned companies using AI to tailor products could be classed as “manufacturers” and face the same duty of care as developed.
When lawmakers slam the U.K.’s chief financial regulator as “incompetent,” it not only opens the doors for others to pile criticism on it, but it sparks a debate about how the organization can be improved–or removed.
The U.K. Financial Conduct Authority apologized to investors in peer-to-peer investment firm Collateral for not acting swiftly enough to prevent Collateral from defrauding its customers.
