- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jaclyn Jaeger2020-06-22T17:53:00
The U.S. Supreme Court reaffirmed the SEC’s authority to recoup profits obtained from fraudulent schemes but limited the scope of what can be sought through disgorgement.
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The Supreme Court turned down a bid by brokerage firm Alpine Securities Corp. petitioning for review of the Securities and Exchange Commission’s power to enforce the Bank Secrecy Act.
The Federal Trade Commission will have its power to seek disgorgement of ill-gotten gains restored, if a bill that passed the House becomes law.
The Supreme Court ruled the Federal Trade Commission cannot seek to recover funds unlawfully obtained by individuals and companies resulting from violations of consumer protection laws.
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.
