Highly publicized breaches at the SEC and Equifax reveal how compliance efforts and reputation protection is often undermined by a lack of common sense.
Joe Mont
Posted inUncategorized
Beyond the breach: SEC’s Clayton on clawbacks, fiduciary rules, and materiality
While much of his time before the Senate Banking Committee last week focused on a newly disclosed 2016 data breach, SEC Chairman Jay Clayton weighed in on numerous other topics.
Posted inUncategorized
SEC’s Clayton provides update on EDGAR breach
An update issued by the SEC on Oct. 2 outlines projects and initiatives it has launched in the aftermath of a recently announced 2016 breach of the EDGAR filing system.
Posted inUncategorized
FSOC lets AIG shed ‘systemically important’ status
The Financial Stability Oversight Council has de-designated AIG as a systemically important financial institution, a classification that had placed heightened prudential standards and regulatory expectations upon the non-bank.
Posted inUncategorized
SEC offers relief, deadline extensions for hurricane victims
The SEC is providing regulatory relief to publicly traded companies and others unable to meet filing requirements due to hurricane damage and mail disruptions.
Posted inRegulatory Enforcement
CFTC makes pitch for self-reporting, cooperation in enforcement actions
The CFTC, with lessons learned and expectations informed by similar programs at other federal agencies, is promoting new self-disclosure and cooperation agreements with the firms it oversees. James McDonald, director of the Division of Enforcement, outlined the program in a recent speech.
Posted inUncategorized
Exasperated Clayton briefs Senators on SEC breach
SEC Chairman Jay Clayton provided fresh insight into the Commission’s recently annunced 2016 data breach during scheduled testimony before the Senate Banking Committee.
Posted inUncategorized
News headlines complicate looming arbitration vote
As Republican critics of the CFPB’s arbitration rule prepare for a Senate vote to repeal it, news headlines are giving their progressive opposition plenty of ammunition and leverage..
Posted inAccounting & Auditing
Hungry for a ‘win,’ Republicans unveil tax reform framework
Republican legislators have released the outline of an ambitious tax package that rethinks payments by individuals and corporations alike. Among the plans is reducing the corporate tax rate to 20 percent.
Posted inUncategorized
Senators want Equifax answers on clawbacks, disclosures
Sen. Elizabeth Warren (D-Mass.) and fellow senators have expanded their investigation into the recent Equifax breach, the company’s response, and the possibility of executive pay clawbacks.
