In recent guidance, the SFO for the first time has formally set out expectations essential to U.S.-type deferred prosecution agreements, but some say the low number of companies accepting criminal responsibility may negate the provision’s worth.
Regulatory Policy
Posted inAccounting & Auditing
House considers creating PCAOB whistleblower program
The House is considering a bill that would give the PCAOB a whistleblower system under Sarbanes-Oxley like the one operated by the SEC.
Posted inRegulatory Policy
CFPB pitches mortgage rule change
The Consumer Financial Protection Bureau has issued a notice seeking information on the expiration of temporary qualified mortgage provisions.
Posted inBoards & Shareholders
Warren’s next battleground: private equity firms
Under newly filed legislation, The Stop Wall Street Looting Act, firms would share responsibility for the liabilities of companies under their control, including debt, legal judgments, and pension obligations.
Posted inTechnology
Congress debates: Are tech giants bullies or saviors?
Amazon, Google, Facebook, and Apple were called before Congress this week to debate what critics perceive as the anti-competitive, entrepreneur-chilling effects they trigger with their size and scope.
Posted inTechnology
Google, Amazon fire back: Rising tide lifts all boats
A common refrain—and effective defense—from tech companies at the House Judiciary hearing this week was that rather than stifling competition, their size and scope is responsible for a tide that raises all boats in their wake.
Posted inFinancial Services
FINRA issues clarifying guidance on ‘extraordinary cooperation’ credit
The Financial Industry Regulatory Authority has issued supplemental guidance clarifying how companies and individuals that demonstrate “extraordinary cooperation” in investigations can receive enforcement credit.
Posted inData Privacy
Congress, Treasury take swings at Facebook’s Libra plan
A plan by Facebook to enter the world of virtual currency is attracting predictable skepticism in Washington. It could also expedite the slow emergence of national data protection laws.
Posted inRegulatory Policy
Quality compliance can now earn antitrust leniency
A Justice Department policy change–to evaluate corporate compliance programs as a potential leniency factor on antitrust cases–has come to fruition through announcements made this week.
Posted inData Privacy
Fed Chair urges caution with Facebook virtual currency venture
Count Federal Reserve Chairman Jerome Powell and several members of Congress as concerned observers of Facebook’s planned foray into the world of virtual currency.