Even with Democratic control of the House and Senate, President-elect Joe Biden will still find it difficult to pass new laws, experts say.
Regulatory Policy
Posted inRegulatory Enforcement
Biden picks Merrick Garland for attorney general
Merrick Garland, a federal appeals court judge whose 2016 Supreme Court nomination was thwarted by Senate Republicans, has been tapped to become U.S. attorney general by President-elect Joe Biden.
Posted inInternal Investigations, Regulatory Policy
Defense bill empowers SEC in seeking return of profits from fraud
The ability of the SEC to pursue the return of profits earned in fraudulent schemes has been strengthened as part of Congress’ passage of the National Defense Authorization Act for Fiscal Year 2021.
Posted inData Privacy
Temper expectations on a U.S. federal privacy law in 2021
With the collapse of the EU-U.S. Privacy Shield comes an opportunity for the United States to address its data protection shortcomings. Just don’t expect a quick fix, as a litany of issues remain.
Posted inRegulatory Policy
Roisman to lead SEC transition as Clayton departs
Commissioner Elad Roisman will serve as acting chairman of the Securities and Exchange Commission while the agency heads for transition under the upcoming Biden administration.
Posted inAML
FinCEN proposes BSA reporting rule for cryptocurrency transactions
FinCEN has proposed a new rule looking to subject cryptocurrency transactions to similar AML reporting requirements placed on other financial institutions by the Bank Secrecy Act.
Posted inAccounting & Auditing
SEC, China react as Trump approves foreign audit oversight bill
President Donald Trump signed into law a measure that will kick publicly traded Chinese companies off U.S.-based exchanges if they refuse to allow U.S. regulators to examine their finances.
Posted inData Privacy
New Zealand’s new privacy law comes with a refreshing twist—it allows for apologies
New Zealand’s new data privacy law allows an apology to be made without admitting guilt, a provision that follows with the island’s non-traditional form of leadership as one that focuses on empathy and the well-being of the people.
Posted inRegulatory Policy
Third time’s a charm? SEC adopts controversial extraction rules
After two failed iterations, the SEC has approved revamped rules laying out what commercial oil, natural gas, and mineral extraction companies must disclose about payments they make to U.S. and foreign governments.
Posted inAML
Congress passes defense bill with big ramifications for AML, whistleblowers
Congress’ defense spending bill approved Friday includes amendments that could dramatically alter the fight against money laundering, in addition to a new BSA whistleblower program with some kinks to be worked out.
