Citing significant progress on harmonizing cross-border swaps regulations between the European Union and United States, regulators on both sides of the Atlantic have struck their latest agreement. An effort to resolve regulatory differences, an initiative, dubbed “Path Forward,” has occupied both parties for several months and at times has been quite contentious. However, last week, […]
Joe Mont
Posted inRegulatory Enforcement
SEC No-Action Letters Provide Added Insight on Regulations
Sometimes the Securities and Exchange Commission provides better guidance on complying with its regulations by saying what it’s not concerned with. SEC “no-action letters” sent to answer public company queries about whether the agency would view a particular product, service, or action as a violation of its rules can be crucial to interpreting rulemaking and […]
Posted inAccounting & Auditing
Federal Reserve Rule Sets New Standards for Foreign Banks
The Federal Reserve Board has approved a final rule intended to strengthen the supervision and regulation of large bank holding companies and subject foreign banks doing business in the U.S. to the same standards. The rule establishes enhanced prudential standards for the liquidity, risk management, and capital of those institutions, with an eye towards increase […]
Posted inAccounting & Auditing
Treasury Passes Banks Guidance on Marijuana Dealings
The Treasury Department, through its Financial Crimes Enforcement Network, has released guidance for banks doing business with customers and companies that sell marijuana in states where the drug is legalized or allowed for medicinal purposes. The FinCEN guidance clarifies Bank Secrecy Act expectations for financial institutions that choose to provide services to marijuana-related businesses and […]
Posted inFrom the Archive
OECD Crafts Global Standard for Sharing Tax Information
Stepping up efforts to curb international tax evasion, the Organisation for Economic Co-operation and Development (OECD), a global economic policy forum with 34 member government, has unveiled a new data-sharing initiative aimed at exposing the practice. Responding to a mandate from G20 leaders to reinforce action against tax avoidance and evasion, OECD developed a new […]
Posted inFrom the Archive
OSHA Moves On New Whistleblower Protections for Food Industry
The U.S. Department of Labor’s Occupational Safety and Health Administration will add new whistleblower protections for food industry workers through an interim final rule, published in the Federal Register on Thursday, that establishes new procedures for handling retaliation complaints as part of the Food Safety Modernization Act. Passed in 2011, FSMA included, among its many […]
Posted inAccounting & Auditing
Lawsuit Challenges Constitutionality of JPMorgan Settlement
Citing a lengthy list of concerns, the advocacy group Better Markets is challenging the U.S. Justice Department’s recent $13 billion settlement with JPMorgan Chase, calling the agreement “unlawful and unprecedented.” In November, the Justice Department announced the settlement with banking giant JPMorgan to resolve claims related to its packaging, marketing, sale, and issuance of residential […]
Posted inRegulatory Enforcement
Drug Companies Face Stricter Clinical Trial Regulation Worldwide
For the better part of a decade, drug and medical device companies have shipped a growing percentage of their clinical trials for new drugs and medical devices to foreign nations. A new wave of regulation, however, much of it aimed at protecting test subjects and assuring the integrity of data, is presenting new compliance challenges […]
Posted inAnti-Bribery
High Corruption Risks Accompany Winter Games in Russia
The winter Olympics are drawing global attention to the Russian resort town of Sochi that is hosting the games and, less favorably, to the country’s longstanding reputation as a haven for bribery and corruption. The private-public nature of a project the size of hosting an Olympics makes it a potential magnet for bribery and corruption. […]
