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SEC postpones compliance date for amendments to investment company names rule
2025-03-17T19:10:00+00:00By Adrianne Appel
Investment companies will have six additional months to comply with an update to the Securities and Exchange Commission rule aimed at making investment fund names more accurate.
EU drives ‘omnibus’ of simplifications through landmark sustainability reporting directives
2025-03-13T21:25:00+00:00By Ruth Prickett
The European Commission has adopted proposals for radical simplifications to the EU’s trailblazing environmental regulations. The commissioners argue that this is a pragmatic response to changing global economics and indicates that they have listened to the concerns of smaller businesses that are struggling to comply with onerous and conflicting rules.
Why are CFOs struggling to stay compliant?
2025-03-11T14:37:00+00:00By Markus Hornburg, CW guest columnist
CFOs are tasked with overseeing an organization’s entire financial processes, not least ensuring that financial operations remain compliant with the multitude of global regulations. It’s a heavy burden to carry that might be alleviated slightly with the help of artificial intelligence, writes Markus Hornburg, head of compliance at Basware.
Shareholders back Apple sticking to DEI goals as Trump blasts move
2025-03-04T16:22:00+00:00By Aly McDevitt
Tech giant Apple solidified its commitment to diversity, equity, and inclusion at its annual shareholder meeting on Tuesday, with 97 percent of shareholders rejecting an anti-DEI proposal, according to a public filing.
DEI programs are under attack. Compliance should help plan what comes next
2025-02-18T19:25:00+00:00By Aaron Nicodemus
U.S. President Donald Trump has proven himself to be a chaos agent in the opening weeks of his second term, firing federal workers, shuttering agencies, and issuing executive orders that attempt to upend policies and laws he doesn’t like.
U.K. Employment Rights Bill promises to thwart forced labor through new consolidated regulator
2025-02-14T19:17:00+00:00By Neil Hodge
For the past decade, the United Kingdom has tried to make companies more directly accountable for forced labor in their supply chains. But lawyers warn that the government’s latest plans to beef up protections against worker violations risk being heavily watered down and poorly policed by regulators.
Apple bucks trend in Big Tech, defies anti-DEI headwinds
2025-02-13T15:11:00+00:00By Aly McDevitt
Apple, one of the most valuable tech giants on the planet, is pushing back against pressure to stop diversity, equity, and inclusion efforts, saying that “a culture of belonging” remains a core value of the organization.
SEC enforcement priorities under Trump: Fewer disclosures, less ESG-focused, more crypto
2024-11-25T18:30:00+00:00By Aaron Nicodemus
Change is likely coming to the Securities and Exchange Commission’s enforcement priorities with the pending handover of the White House to Republican President-elect Donald Trump. Adjust your compliance priorities accordingly.
EU Deforestation Directive delayed, experts advise compliance managers to not rest on laurels
2024-11-14T15:50:00+00:00By Ruth Prickett
If your business uses leather, rubber, wood, beef, palm oil, soy, or paper, then you may need to comply with the EU Deforestation Directive, a new rule intended to ensure that no goods traded in the EU contribute to global deforestation.
SEC orders Invesco to pay $17.5M over misleading investors about ESG assets
2024-11-11T15:42:00+00:00By Adrianne Appel
Invesco Advisors agreed to pay $17.5 million to the Securities and Exchange Commission to settle allegations that the company misled investors about the extent of its assets that included environmental, social, and governance factors.
EU businesses will soon have to report on supply chains and sustainability. Not all are ready
2024-10-25T15:38:00+01:00By Ruth Prickett
Supply chains are about to become the next big thing in sustainability compliance. However, many organizations still lack the data and assurance capabilities to track sustainability and human rights activities across their extended supply chains – which is required by the EU’s CS3D. Many others that fall out of scope ...
WisdomTree pays $4M SEC fine for including fossil fuel, tobacco securities in ESG funds
2024-10-22T16:08:00+01:00By Aaron Nicodemus
Fund management company WisdomTree will pay $4 million to settle allegations by the Securities and Exchange Commission that it improperly invested in fossil fuel and tobacco companies in environmental, social and governance (ESG) funds despite promising to avoid them.
What’s your risk appetite? EU firms grapple with ‘ridiculously complex’ ESG reporting rules
2024-10-14T18:26:00+01:00By Aaron Nicodemus
Discussions on the increasingly complex ESG rules in the EU were the crux of some conversations at Compliance Week Europe, a two-day conference in Amsterdam Oct. 15-16. The event brought together Compliance Week and its sister organization, the International Compliance Association, and more than 200 GRC professionals across industries.
AI and government: How Trump or Harris presidency will differ on policy, regulation
2024-09-25T13:21:00+01:00By Jeff Dale
AI may be one of the hottest things in the business world but former President Donald Trump and Vice President Kamala Harris haven’t devoted much time to discussing the technology. Still, each candidate has offered a few clues as to how they would govern over this next wave of innovation.
‘Biblically responsible’ investment adviser ordered to pay $300K over misleading investors
2024-09-20T15:38:00+01:00By Jeff Dale
A “biblically responsible” investment adviser agreed to pay $300,000 and hire an independent compliance consultant to settle charges with the Securities and Exchange Commission that it misled investors, along with other compliance failures.
Budweiser Budvar registration failures show ESG impacts of U.K. noncompliance
2024-09-16T18:14:00+01:00By Ruth Prickett
Most businesses think more about their products than what they come wrapped in, but a recent U.K. penalty against Czech brewery Budweiser Budvar indicates packaging is an increasingly important element in sustainability regulations.
FCA delays compliance date for certain parts of ESG rule package
2024-09-10T19:11:00+01:00By Adrianne Appel
The U.K. Financial Conduct Authority is pushing back the date for some firms to comply with its naming and marketing rule amid struggles to prepare for it, the FCA said Monday.
Ian Sherr joins Compliance Week as its new editor-in-chief
2024-09-03T13:47:00+01:00By Ian Sherr
New Compliance Week Editor-In-Chief Ian Sherr shares his thoughts on where compliance is headed as businesses meet the realities of not just following the rules, but staying ahead of the pace of regulatory change at a global scale.
Q&A: APCC chair on culture challenges facing financial services firms
2024-08-21T15:29:00+01:00By Ruth Prickett
Julie Ampadu, chair of the U.K.’s Association of Professional Compliance Consultants, spoke to Compliance Week about why culture is the biggest issue facing financial services firms.
All hands on deck needed to get ESG disclosures right, report finds
2024-08-19T13:29:00+01:00By Aaron Nicodemus
Multiple emerging environmental, social, and governance and disclosure standards pose legal and operational risks to many companies, but also opportunities to improve reporting and get ahead of requirements, a new report found.
Marathon Oil inks $242M settlement with DOJ, EPA over N. Dakota air pollution
2024-07-12T19:17:00+01:00By Adrianne Appel
Marathon Oil Company agreed to pay $241.5 million and bring the company into compliance with federal emissions rules in the vicinity of North Dakota’s Fort Berthold Indian Reservation after years of violations, the Department of Justice said.
New U.K. codes strive to restore falling trust, integrity
2024-07-09T19:08:00+01:00By Ruth Prickett
Codes of ethics and conduct are becoming ubiquitous, yet instilling high standards of corporate integrity still seems an elusive goal. Why is corporate culture such a challenge?
Q&A: Seaco general counsel, compliance head on environmental regulations
2024-07-03T18:17:00+01:00By Ruth Prickett
Dominic Buckwell, general counsel and compliance head at global marine container leasing company Seaco, discussed key themes including anti-money laundering, sanctions, and why the industry needs common environmental reporting standards.
SCOTUS overturns Chevron doctrine, putting thousands of regulations in limbo
2024-06-28T19:55:00+01:00By Aaron Nicodemus
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.
Women in Compliance highlights: Mentorship driving DEI; fostering board buy-in
2024-06-27T13:39:00+01:00By Adrianne Appel
Keeping track of regulations and understanding how they affect your business can be a hot mess without proper organization and collaboration, experts said at Compliance Week’s Women in Compliance Summit, held June 3-4, in Atlanta.
EU agencies examine efforts to identify and monitor examples of greenwashing
2024-06-06T17:00:00+01:00By Aaron Nicodemus
The European Securities and Markets Authority, European Banking Authority, and European Insurance and Occupational Pensions Authority issued reports on greenwashing in the financial sector, describing how they plan to call out examples of false or misleading sustainability claims.
Treasury, other agencies issue voluntary carbon market principles
2024-05-28T19:20:00+01:00By Adrianne Appel
The Treasury Department and other U.S. agencies announced a coordinated federal policy concerning carbon credits and other voluntary incentives to encourage businesses and agriculture to cut their carbon footprints.
ESMA guidelines tackle greenwashing via fund names
2024-05-17T17:27:00+01:00By Kyle Brasseur
The European Securities and Markets Authority published its final report containing guidance for the use of environmental, social, and governance- and sustainability-related terminology in fund names.
Fed-led climate scenario analysis highlights data gaps, insurance costs
2024-05-10T19:20:00+01:00By Aaron Nicodemus
The Federal Reserve Board and six large American banks released the results of a pilot climate scenario analysis that explored how resilient the banks’ business models were to climate-related financial risks.
Lululemon facing probe in Canada over greenwashing complaints
2024-05-09T20:36:00+01:00By Adrianne Appel
Athletic apparel company Lululemon is under investigation by the Canadian Competition Bureau regarding whether it made misleading claims about environmental aspects of its business.
EU charts green path forward with ECT withdrawal, new regs
2024-05-03T13:34:00+01:00By Ruth Prickett
The impending decision by the European Parliament to withdraw from the international Energy Charter Treaty and adopt further climate rules sets a clear direction for green regulations in the region.
FCA publishes guidance on anti-greenwashing rule
2024-04-23T19:29:00+01:00By Aaron Nicodemus
The U.K. Financial Conduct Authority issued new guidance on how to comply with its upcoming anti-greenwashing rule, which is set to take effect May 31.
Report: Poor awareness of supply chain disclosure regs leaving firms exposed
2024-04-23T15:44:00+01:00By Ruth Prickett
Compliance failures in the supply chain are hampering organizations’ efforts to implement environmental, social, and governance initiatives and meet disclosure requirements, according to a new report by U.K. law firm Burges Salmon.
U.S. senator calls for Temu ban over forced labor, privacy concerns
2024-04-17T16:32:00+01:00By Jeff Dale
Sen. Tom Cotton (R-Ark.) is calling on the Biden administration to investigate and ban Chinese e-commerce company Temu over forced labor and data privacy violation concerns.
ECHR ruling opens door to climate change litigation on basis of human rights
2024-04-15T13:47:00+01:00By Ruth Prickett
By holding the Swiss government accountable for failing to do more to limit climate change, a ruling by the European Court of Human Rights might have significant implications for legislators and organizations in other countries across the European Union.
Experts: ESG gone mainstream, but new regs still create headaches
2024-04-09T18:24:00+01:00By Aaron Nicodemus
Environmental, social, and governance goals have gained acceptance from senior leadership because of upward pressure from employees, investors, and customers, according to compliance leaders speaking at Compliance Week’s 2024 National Conference.
Data, consumer support key to conveying value of compliance
2024-04-09T11:39:00+01:00By Adrianne Appel
Presenting data to the board and providing examples of positive consumer response to ethical decision-making help compliance departments demonstrate value beyond keeping an organization in line with rules and regulations, experts discussed at Compliance Week’s 2024 National Conference.
SEC concludes VW emissions case with $48.8M judgment
2024-04-08T17:05:00+01:00By Jeff Dale
Volkswagen Group of America Finance was ordered to pay $48.75 million as part of a final judgment obtained by the Securities and Exchange Commission to resolve historical violations related to the automaker’s emissions scandal.
CW2024 leadership panel on navigating scrutiny, prep for more change
2024-04-08T12:34:00+01:00By Kyle Brasseur
The global political landscape should be high on the risk radar of compliance officers in 2024, according to compliance leaders speaking at Compliance Week’s 2024 National Conference, along with increased regulatory scrutiny toward forced labor, ESG, and M&A.
Legal pushback prompts SEC to stay climate-related disclosure rule
2024-04-05T16:40:00+01:00By Aaron Nicodemus
The Securities and Exchange Commission delayed implementation of its climate-related disclosure rule until the courts can rule on appeals filed in response to the controversial policy.
CBP stats show persistent problem areas under UFLPA
2024-04-01T13:33:00+01:00By Adrianne Appel and Aaron Nicodemus
It’s been nearly two years since the Uyghur Forced Labor Prevention Act took effect, and as enforcement statistics and recent reports demonstrate, many businesses are still not adequately vetting their supply chains.