Kathy Kraninger is likely to prevail as President Trump’s nominee to head the CFPB, despite her evasive performance during a hearing before the Senate Banking Committee.
Joe Mont
Posted inData Privacy
California data privacy law creates complications beyond GDPR compliance
To consider California’s new Consumer Privacy Act a locally ported version of the EU’s GDPR regime may be understating the full scope of the newly enacted approach to data privacy.
Posted inUncategorized
Former Tesla employee files whistleblower tip to SEC
A former Tesla employee, currently being sued by the company for allegedly hacking into proprietary systems, has made a formal whistleblower report to the SEC. Among the issues that may arise in the Commission’s consideration of the case are matters related to potential retaliation and pretaliation.
Posted inUncategorized
Senate Democrats demand that CFPB reinstate advisory board
A coalition of Senate Democrats is demanding that Office of Management and Budget Director Mick Mulvaney, who also heads the CFPB, detail how the latter agency will reassemble its recently disbanded Consumer Advisory Board.
Posted inRisk Management
Progress in extractive mining disclosures emerges, even as U.S. backs away
A new survey on oil, gas, and mining companies by Oxfam finds they are increasingly adopting full contract disclosure policies, despite governmental protestations. Nevertheless, it cautions, more work remains.
Posted inRegulatory Enforcement
DoJ launches new task force on Market Integrity and Consumer Fraud
The Justice Department, empowered by an executive order by President Trump, is creating a new, multi-agency task force on Market Integrity and Consumer Fraud. The plan was detailed, on Wednesday, in public remarks by Deputy Attorney General Rod Rosenstein.
Posted inRegulatory Enforcement
SEC pursues Fitbit stock manipulation scheme
The SEC has filed fraud charges against a second defendant in connection with a scheme to manipulate the price of Fitbit securities through false regulatory filings on its EDGAT database system.
Posted inUncategorized
OFAC eases sanctions on Sudan; terrorism concerns persist
The Trump administration has dropped most of the U.S. sanctions targeting Sudan, also removing it from the list of nations targeted by a controversial travel ban. The White House stopped short, however, of removing the war-torn country from its terrorism watch list.
Posted inUncategorized
FINRA wants firms to detail dabbling in virtual currencies
FINRA wants the brokerage firms and exchanges it oversees to alert it if they engage in activities related to digital assets and cryptocurrencies.
Posted inRegulatory Enforcement
Credit Suisse subsidiary settles FCPA violations
The SEC has announced that Credit Suisse Group AG will pay $30 million to settle allegations that it rigged hiring practices to win business in the obtained investment banking business in the Asia-Pacific region, an FCPA violation. Credit Suisse also agreed to a $47 million settlement with the Justice Department.