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Adrianne Appel writes regulatory news, policy, and trends for Compliance Week. She previously reported about policy developments for Bloomberg Law and Bloomberg Government.
Email: adrianne.appel@complianceweek.com
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For the first time, more compliance teams than not used artificial intelligence (AI) to assist them in their work, according to Compliance Week’s 2024 “Inside the Mind of the CCO” survey.
About 56 percent of compliance teams used AI in 2024—a sizable jump from the 41 percent who relied on AI in 2023– the sixth annual survey compliance professionals found. About 227 compliance professionals participated in the survey.
The Consumer Financial Protection Bureau has pulled back a draft privacy rule that would have required businesses to take more steps before selling consumers’ financial and personal data.
The U.S. Department of Justice (DOJ) is moving the enforcement of all but the most heinous white-collar crimes onto the back burner and putting investigations of drug kingpins, illegal immigration, and sanctions evasion up front, Matthew Galeotti, head of the DOJ’s Criminal Division, said Monday.
Businesses under consent decrees for violating federal anti-discrimination laws, including fairness in lending and hiring laws, may be off the hook under a sweeping executive order (EO) issued by President Donald Trump last month. The EO, aimed at furthering his agenda of dismantling protections against discrimination, says all agencies “shall evaluate” existing agreements by the end of July. The sprawling order, “Restoring equality of opportunity and meritocracy,” issued April 23, could bring pending investigations to a halt as well.
Ticketing and short-term lodging businesses will be prohibited from hiding “convenience” and other fees from consumers under a rule by the Federal Trade Commission (FTC), set to take effect next week.
A Cambodian financial company, the Huione Group, has laundered billions of dollars for international criminals and those linked to North Korea, according to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN). The agency proposes that the company should be severed from having access to the U.S. financial system.
The New York Department of Financial Services (NYDFS), led by Superintendent Adrienne Harris, doesn’t intend to let up on cryptocurrency enforcement, even in the face of pullback from the federal government.
Tom Hardin AKA “Tipper X” went from a young trader with his whole career ahead of him to an inside trader who got caught, acted as a Federal Bureau of Investigation informant for two years, and pleaded guilty to a felony.
Some compliance teams consider it outside their roles to learn the ins and outs of their businesses, and something to explore when they have time.
Compliance can be a highly fulfilling job but one that is tough and sometimes lonely, too. But participants at the Women in Compliance Brunch & Learn session at Compliance Week’s 20th anniversary national conference agreed community was the solution, though it can come in different ways.
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