The FTC, by dragging its feet and keeping silent on a massive Facebook fine, raises concerns about its potential role as top cop on the data privacy beat.
Joe Mont
Posted inRegulatory Policy
Quality compliance can now earn antitrust leniency
A Justice Department policy change–to evaluate corporate compliance programs as a potential leniency factor on antitrust cases–has come to fruition through announcements made this week.
Posted inData Privacy
After another arrogant move, Facebook needs to be put in check
The social media company is hardly quiet about its crypto initiative, but nevertheless failed to see the materiality of creating a global payments system.
Posted inData Privacy
Fed Chair urges caution with Facebook virtual currency venture
Count Federal Reserve Chairman Jerome Powell and several members of Congress as concerned observers of Facebook’s planned foray into the world of virtual currency.
Posted inRegulatory Policy
SEC’s Clayton emphatically defends Reg. BI
SEC Chairman Jay Clayton, speaking to an audience of financial professionals in Boston, vigorously defended Regulation Best Interest and came out swinging against critics.
Posted inRegulatory Policy
Warren, Dems seek mandatory climate disclosures
Senator Elizabeth Warren (D-Mass.) has reintroduced the Climate Risk Disclosure Act, legislation that would require public companies to disclose their exposure to climate-related risks.
Posted inFinancial Services
Agencies exclude community banks from the Volcker rule
Five federal financial regulatory agencies announced this week they have adopted a final rule to exclude community banks from the Volcker Rule.
Posted inRegulatory Enforcement
Florida man sentenced for role in collapse of Puerto Rico bank
The CEO of a now-bankrupt pharmaceutical company was sentenced to 30 years in prison for his role in a $100 million plot that triggered Westernbank of Puerto Rico’s collapse.
Posted inEurope
Marriott reveals $124M GDPR fine for data breach
Marriott has disclosed in a filing with the SEC that the U.K.’s Information Commissioner’s Office intends to fine it roughly £99 million (U.S. $124 million) for infringements of the EU’s GDPR.
Posted inRegulatory Policy
SEC shores up details on ‘short-termism’ roundtable
An upcoming SEC roundtable on July 18 will seek to identify potential market practices and regulatory changes that could encourage increased long-term strategies and investments.