- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
The Securities and Exchange Commission issued an investigative report this week cautioning market participants that offers and sales of digital assets by “virtual” organizations are subject to the requirements of the federal securities laws.
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Block.one has agreed to settle charges with the SEC and pay a $24 million civil penalty for conducting an unregistered initial coin offering of digital tokens that raised the equivalent of several billion dollars.
USAA Federal Savings Bank has been hit with its third cease and desist order from the Treasury Department’s Office of the Comptroller of the Currency in the past five years for failing to correct unsafe and unsound banking practices.
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.
