A package of seven legislative proposals put forward by the Biden administration would enhance the capabilities of the Department of Justice to bring money laundering and racketeering charges related to corruption, according to a senior agency official.
Kyle Brasseur
Posted inAccounting & Auditing
FRC drops investigation into PwC’s Intu Properties audits
The U.K. Financial Reporting Council announced it closed its investigation into Big Four firm PwC’s audit work at collapsed real estate investment trust Intu Properties.
Posted inRisk Management
DOJ, FTC release finalized merger guidelines
A long-running initiative by the Department of Justice and Federal Trade Commission to modernize their joint merger guidelines reached its conclusion, following tens of thousands of public comments.
Posted inEthics & Culture
Activision Blizzard to pay $55M to settle California discrimination suit
Activision Blizzard agreed to pay nearly $55 million as part of a settlement with the California Civil Rights Department addressing highly publicized accusations of workplace discrimination against women at the video game company.
Posted inRegulatory Policy
SEC shoots down Coinbase petition for crypto rulemaking
The Securities and Exchange Commission denied a petition filed on behalf of cryptocurrency exchange platform Coinbase that called for the creation of a new regulatory framework for crypto asset securities.
Posted inRegulatory Enforcement
Adobe: Penalties possible in FTC subscriptions probe
Software company Adobe disclosed it could face “significant monetary costs or penalties” resulting from an ongoing Federal Trade Commission investigation into its disclosure and subscription cancellation practices.
Posted inFinancial Services
SEC adopts rule to ease clearing of Treasury transactions
The Securities and Exchange Commission adopted a rule change aimed at reducing the threat of systemic risk to U.S. Treasury securities by facilitating additional central clearing in the market.
Posted inBoards & Shareholders
Ex-BP CEO facing up to $41M in losses over colleague relationship dishonesty
The board of British oil and gas giant BP announced its remuneration determinations after finding former CEO Bernard Looney committed “serious misconduct” in his disclosure of personal relationships with company colleagues.
Posted inEurope
New European AML agency nearing adoption
A new agency to supervise high-risk financial institutions across the European Union regarding their anti-money laundering and countering the financing of terrorism activities gained provisional approval.
Posted inEurope
Credit Suisse units to pay $10M in SEC mutual fund services case
Three entities of Swiss bank Credit Suisse agreed to pay more than $10 million combined as part of a settlement with the Securities and Exchange Commission for allegedly providing prohibited underwriting and advising services to mutual funds.