Recently proposed amendments to the Volcker rule designed to simplify compliance requirements were finalized this week.
Kyle Brasseur
Posted inTechnology
Zuckerberg to testify before Congress on Libra
Facebook CEO Mark Zuckerberg will testify before the House Financial Services Committee on Oct. 23 regarding his company’s planned venture into the cryptocurrency space.
Posted inAccounting & Auditing
Former KPMG co-lead pleads guilty in inspections scandal
Former KPMG partner David Britt pleaded guilty to one count of conspiracy to commit wire fraud as the fallout from the cheating scandal that has plagued the firm for nearly two years appears to be nearing its conclusion.
Posted inRegulatory Enforcement
BMO firms to pay $37M for misleading clients
Two BMO advisory firms have agreed to pay over $37 million in a settlement with the SEC for misleading clients on aspects of their retail investment advisory program.
Posted inAccounting & Auditing
Proposed bill targets FASB rulemaking procedures
Rep. Blaine Luetkemeyer (R-Mo.) on Friday introduced a bill that would subject the Financial Accounting Standards Board to the rulemaking guidelines of federal financial regulators. The Responsible Accounting Standards Act would apply the Administrative Procedures Act to the independently operated Financial Accounting Foundation (FAF), which oversees FASB. The Administrative Procedures Act requires regulators to make […]
Posted inRegulatory Enforcement
Herbalife fined $20M for misleading investors
Herbalife will pay $20 million to settle charges with the SEC that it made false and misleading statements about its China compensation model.
Posted inAccounting & Auditing
Mylan finalizes $30M EpiPen settlement with SEC
Mylan has finalized a previously disclosed $30 million settlement with the SEC for alleged accounting and disclosure failures surrounding its popular EpiPen.
Posted inData Privacy
Ecuador to expedite privacy law following massive breach
The Ecuadorian government has given itself 72 hours to finish drafting a national privacy law following a massive data breach that put the personal information of perhaps its entire population at risk.
Posted inRegulatory Policy
States sue SEC over Reg BI
Seven states and the District of Columbia have filed a lawsuit against the SEC in an effort to block the regulator’s recently approved Regulation Best Interest rule package.
Posted inData Privacy
Amazon’s Bezos among 51 CEOs calling for national data privacy law
CEOs from 51 different companies, including Amazon, Walmart, and Salesforce, have sent a letter to congressional leaders urging the passing of a comprehensive consumer data privacy law.
