- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Joe Mont2019-07-10T20:04:00
SEC Chairman Jay Clayton, speaking to an audience of financial professionals in Boston, vigorously defended Regulation Best Interest and came out swinging against critics.
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The Securities and Exchange Commission has no plans to delay its controversial Regulation Best Interest rule despite the impact the ongoing coronavirus pandemic has had on U.S. markets.
Joining the growing discontent with the SEC’s Regulation Best Interest, Democrats in the House of Representatives have passed legislation that could starve the quasi-fiduciary standard for investment advice of funding.
Three former executives of Chicago-based Outcome Health, a healthcare technology company, were sentenced for misleading an auditor, clients, lenders, and investors about a scheme to sell $45 million in overbilled advertisements.
The U.S. Supreme Court extended the statute of limitations for businesses attempting to challenge some federal regulations, allowing regulated entities a longer timeline to appeal a decision.
The Supreme Court of the United States overturned a long-held precedent in which courts deferred to federal agencies in interpreting complex or ambiguous regulations–a decision that could make thousands of federal regulations more vulnerable to legal challenges.
Financial institutions would be required to conduct more thorough risk assessments on their anti-money laundering/countering the financing of terrorism programs under a new rule proposed by the Treasury Department’s Financial Crimes Enforcement Network.
