- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2024-04-11T17:50:00
A proposal by the Treasury Department would allow the Committee on Foreign Investment in the United States (CFIUS) to seek more information as part of its review activities and enable “substantially” larger penalties in instances of noncompliance with relevant regulations.
The proposal, announced Thursday, “reflects CFIUS’s evolution and increased focus on monitoring, compliance, and enforcement,” the Treasury said in a press release. CFIUS was established in 1975 and reviews transactions by foreign persons involving real restate in the United States or investments in U.S. businesses to determine their potential effect on national security.
The committee, which is led by the Treasury, last had its enforcement provisions substantively updated in 2018, when then-President Donald Trump expanded its jurisdiction over certain investment structures to largely address emerging investment risks from China.
THIS IS MEMBERS-ONLY CONTENT. To continue reading, choose one of the options below.
News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
Annual Membership $499 Value offer
Full price one year membership with auto-renewal.
Membership $599
One-year only, no auto-renewal.
A Treasury Department report assessing the use of artificial intelligence tools by the financial sector identified a “growing capability gap” in in-house AI use between large and small financial institutions.
The Department of Justice is gearing up to provide more guidance on voluntary self-disclosures in the mergers and acquisitions space and the role compliance should play.
The Committee on Foreign Investment in the United States issued its first-ever enforcement and penalty guidelines for entities that violate mitigation agreements with CFIUS or otherwise run afoul of the Defense Production Act of 1950.
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.
