Brian Quintenz, one of five commissioners at the CFTC, announced he won’t seek renomination to a second five-year term and will depart the agency by the end of October.
Regulatory Policy
Posted inEthics & Culture
Mnuchin rips Lakers, fumes over public companies receiving coronavirus loans
Reacting to news the NBA’s Los Angeles Lakers received a coronavirus aid loan meant for small businesses, U.S. Treasury Sec. Steven Mnuchin said Tuesday all such loans over $2 million will be audited and some companies could face criminal liability.
Posted inInternal Controls
Preparing for the compliance caveats that accompany CARES Act, PPP
Regardless of the government relief program, companies that are able to provide clear, thorough, and timely compliance data and documentation will put themselves in the best position to secure the relief they need.
Posted inEthics & Culture
Did Goliath steal David’s money in first round of business rescue funds?
Even as Congress works to refill a federal loan fund meant to help small businesses survive coronavirus shutdowns, some large, publicly traded companies are taking heat for receiving the loans.
Posted inEurope
Don’t count on European regulators to relax rules during coronavirus crisis
European businesses may be putting themselves at risk because they mistakenly believe regulators are prepared to loosen the rules so companies can operate more easily as the coronavirus pandemic lingers on.
Posted inRisk Management
Coronavirus pandemic, government money create perfect storm for financial fraud
A global pandemic, an unprecedented flow of government money, and a weakening of lending controls could create a perfect storm of opportunity for fraudsters.
Posted inRegulatory Policy
SEC’s Clayton stresses importance of coronavirus disclosures
With the close of the first quarter and earnings releases and investor calls around the corner, senior leadership at the SEC is pushing for full disclosure transparency regarding impact of the coronavirus pandemic.
Posted inRegulatory Enforcement
FinCEN, OCC offer BSA compliance relief amid pandemic
Two federal agencies that oversee Bank Secrecy Act requirements have notified financial institutions they will agree to “reasonable delays” in the filing of required reports if institutions can show the delays are necessary due to the coronavirus pandemic.
Posted inRegulatory Enforcement
Regulatory slowdown due to coronavirus makes compliance role critical
The ongoing pandemic is limiting investigations into most types of white-collar crimes as federal enforcement agencies refocus their attention on coronavirus-related matters.
Posted inRegulatory Policy
SEC won’t delay Reg BI amid pandemic
The Securities and Exchange Commission has no plans to delay its controversial Regulation Best Interest rule despite the impact the ongoing coronavirus pandemic has had on U.S. markets.
