- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2022-06-08T17:49:00
The Responsible Financial Innovation Act, introduced by Sens. Cynthia Lummis (R-Wyo.) and Kirsten Gillibrand (D-N.Y.), seeks to regulate digital assets, blockchain technology, and cryptocurrencies in the United States for the first time.
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The collapse and bankruptcy of digital asset exchange FTX offers stark lessons into why rules that apply to traditional investments—overseen by government regulation—ought to apply to digital investments as well.
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.
Two SEC commissioners from opposite sides of the political aisle took slightly different positions on how to assess the liability of poor performing chief compliance officers as part of the Day 2 opening keynote at Compliance Week’s National Conference.
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.
