It’s critically important that boards and C-suites approve ample resources for compliance, Assistant Attorney General A. Tysen Duva, head of the DOJ Criminal Division, said Wednesday at the TPRM Summit.
Regulators
Posted inHealthcare
DOJ, HHS launch self-disclosure pilot for health FCA violations
Health care entities may be able to pay less than half the steep fines ordinarily associated with False Claims Act (FCA) violations by voluntarily reporting issues under a new pilot program launched Thursday by the US Department of Justice (DOJ) and the US Department of Health and Human Services (HHS). The FCA is enforced governmentwide, […]
Posted inRegulatory Policy
Compliance takeaways from the SEC’s new examination handbook
The SEC’s new exam handbook spells out what to expect at every stage, from the first call to the deficiency letter. Here’s how to prepare.
Posted inBanking
CFPB targets debanking practices after OCC report
After an Office of the Comptroller of the Currency report found the nine largest national banks maintained debanking policies, the Consumer Financial Protection Bureau is taking action against them in one of its few moves under the current Trump administration.
Posted inWhistleblowers
Whistleblower program coming to DOJ’s fraud division, McDonald says in memo
The DOJ’s Corporate Enforcement Section will oversee businesses’ compliance with criminal resolutions, and the department’s fraud division will create a whistleblower program to encourage substantial tips about business fraud.
Posted inArtificial Intelligence
FCA warns AI may reveal more cyber vulnerabilities firms can cope with
The UK’s financial regulator has warned that the rapid pace of AI development is revealing vulnerabilities in firms’ cybersecurity arrangements because their existing controls cannot keep up with the risks new technology can either create or exploit.
Posted inArtificial Intelligence
EU’s financial regulator prioritizes AI, tokenization as key risks for 2027
The EU’s main financial regulator has made AI and tokenization—where assets are traded on blockchains rather than through traditional financial markets—key priorities for banking regulators in EU member states to focus on for 2027.
Posted inTop Stories
SEC’s Woodcock: Enforcement division aims to aggressively enforce fraud
The SEC’s overarching priority is to “get back to basics,” David Woodcock, the commission’s director of the Division of Enforcement, said.
Posted inRegulatory Policy
DOJ revisions to Justice Manual address False Claims Act enforcement
The DOJ recently revised the Justice Manual to reinstate previous agency policy on how it will enforce FCA cases moving forward, and when it will seek to dismiss whistleblower actions.
Posted inFinancial Services
Statement by U.S. financial regulators clarifies confidentiality of suspicious activity filings
The federal Bank Secrecy Act does not prohibit financial institutions from speaking openly with customers who are the subjects of official SARs, according to a clarifying statement issued by U.S. financial regulators Wednesday.