Regulators and investors increasingly say boards of directors need more expertise to ensure they can respond to fast-changing politics, policy, and technology that threaten to undermine their businesses. In the U.K., government officials say boards need to think more about cyber. In the EU, they need to prepare for the Corporate Sustainability Reporting Directive (CSRD). Speaking at Compliance Week’s Third-Party Risk Management summit, Boards of the Future director Vera Cherepanova says that directors need to think broadly, rather than in specialties.
Regulatory Enforcement
Posted inAnti-Bribery
UK regulator’s efforts to coax self-reporting fraud could fall flat, experts warn
To both clean up corporate behaviour and rack up its own enforcement record, the UK’s anti-bribery agency has seemingly largely guaranteed companies a pass from prosecution if they spill the beans on their misconduct. There’s only one problem: experts believe businesses may still stand a better outcome if they front it out rather than self-report and hope for a deal.
Posted inRegulatory Enforcement
Fired CPSC commissioners take the Trump administration to court over abrupt termination
Three former commissioners of the Consumer Product Safety Commission who were fired by President Donald Trump earlier this month have filed a lawsuit against the government over their dismissal. The move joins many more court battles over Trump’s sudden slashing of government agencies, which some courts have deemed illegal, blocking or reversing the moves. Still, the Trump administration is continuing to target people who are seen as not loyal to the president.
Posted inRegulatory Enforcement
Why tight controls matter for financial content on social media, says FPC’s O’Shaughnessy
Financial Planning Corporation is a regulated financial planning firm founded 40 years ago, gaining coveted Chartered status in 2008. As the U.K. financial regulator, the FCA promises to clamp down on unregulated “finfluencers” on social media. Moira O’Shaughnessy, managing partner and head of risk and compliance at FPC, explains why her firm takes a deliberately cautious approach to social media communications.
Posted inData Privacy
FTC orders GoDaddy to upgrade cybersecurity defenses following three breaches
The Federal Trade Commission has ordered web hosting company GoDaddy to implement a “robust” information security program following at least three data breaches that the agency said were aided by lax cybersecurity measures.
Posted inRegulatory Enforcement
FTC cracks down on student loan companies for false forgiveness claims
The U.S. Federal Trade Commission (FTC) took action against a pair of student loan debt relief companies for allegedly deceiving borrowers. The move came despite the Trump administration’s broader efforts to roll back enforcement actions against businesses since taking office.
Posted inRegulatory Enforcement
A forgotten SEC case against Coinbase returns in a shifting crypto landscape
After dismissing its lawsuit against the crypto exchange Coinbase in March, a second investigation into the exchange by the Securities and Exchange Commission has surfaced, according to a report from the New York Times. This comes as a bit of a surprise after the Trump administration has been scaling down regulatory enforcement on cryptocurrency companies in favor of scaling up mainstream adoption.
Posted inRegulatory Enforcement
States like New York, Pennsylvania stepping up to fill regulatory void left by federal agencies
As the Consumer Financial Protection Bureau steps back from its core mission of protecting American consumers, states like New York and Pennsylvania are stepping up to fill the regulatory void.
Posted inRegulatory Enforcement
New DOJ policy means heat is off corporate crime and on drug kingpins
The U.S. Department of Justice (DOJ) is moving the enforcement of all but the most heinous white-collar crimes onto the back burner and putting investigations of drug kingpins, illegal immigration, and sanctions evasion up front, Matthew Galeotti, head of the DOJ’s Criminal Division, said Monday.
Posted inRegulatory Enforcement
SEC Chair Atkins echoes Trump’s promise to make U.S. the ‘crypto capital of the world’
The head of the Securities and Exchange Commission promised new sets of rules around cryptocurrency assets, saying his team intends to lay out regulatory frameworks around custody and “qualified custodians,” as well as guidelines around issuing and trading. The expected move marks the latest step in the U.S. government’s embrace of cryptocurrencies under President Donald Trump, representing a significant shift from his predecessor.
