- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2022-12-08T13:00:00
The Securities and Exchange Commission (SEC) has a historically ambitious list of new rules under consideration heading into 2023.
Proposals regarding climate-related disclosures; cybersecurity breach notifications; and environmental, social, and governance (ESG) claims by investment advisers remain unfinalized. SEC Chair Gary Gensler, who has been outspoken in his belief most cryptocurrencies are likely securities, will bring his expertise on the subject to the table as Congress and other regulators seek to determine how to oversee the turbulent industry.
Meanwhile, a variety of factors—including legal challenges to controversial rules and a Republican takeover of the House—could place significant roadblocks in the way of the SEC’s agenda.
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Goldman Sachs Asset Management agreed to pay $4 million to settle SEC charges it failed to follow its own policies and procedures regarding a trio of investment products marketed for their environmental, social, and governance considerations.
The 18-month probationary period for the new Securities and Exchange Commission marketing rule for investment advisers has expired and compliance with the rule is now mandatory.
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.
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.
