The U.S. Department of Labor scaled back OSHA penalties for small businesses and limited use of the general duty clause as part of the Trump administration’s deregulation agenda.
Regulatory Policy
Posted inFinancial Services
U.K. updates pension and asset manager rules, but internal auditors flag governance gaps
Will “taking an axe to” red tape and onerous reporting commitments free up trillions invested in U.K. pensions and increase the value of assets managed by regulated financial services firms?
Posted inEurope
FCA fines Monzo digital bank $28 million for AML, KYC failures
Britain’s Financial Conduct Authority has fined the online bank Monzo the equivalent of more than $28 million for failing to properly collect customer information and protect against financial crimes. The move is the latest in a series of efforts by British authorities to combat chronic money laundering and other crimes that plague the country’s financial sector
Posted inRegulatory Policy
U.S. Labor Department advances sweeping deregulation push targeting worker protections
The U.S. Department of Labor (DOL) appears to be in the process of deregulating work rules. Some of the changes proposed would result in a reduction of pay for certain health workers and allow minors to work hazardous jobs.
Posted inRegulatory Enforcement
Atkins says SEC to embrace innovation, criticizes regulatory uncertainty around tokenization
SEC Chair Paul Atkins pointed to the growth of tokenized shares as a key development reshaping private markets, suggesting the agency is preparing to update its rules to keep pace with new forms of digital asset trading and settlement.
Posted inEurope
European Commission unveils a simpler, more competitive E.U. Single Market, but businesses remain skeptical
The EU’s new strategy aims to boost SME growth and cut market barriers, but businesses doubt reforms will happen, and consumer groups fear weaker data protections.
Posted inRegulatory Enforcement
DOGE targets SPAC oversight under SEC, report says
The Department of Government Efficiency (DOGE) has a new target, and this time it won’t be just firing federal workers. The agency formed by Tesla CEO Elon Musk at the start of the Trump administration wants to roll back more regulations.
Posted inFinancial Services
FHFA chief orders Fannie and Freddie to consider crypto assets in mortgage assessments
In another sign of President Donald Trump’s focus on cryptocurrency, the head of the U.S. Federal Housing Finance Agency (FHFA) ordered Fannie Mae and Freddie Mac to create proposals to consider crypto assets for a single-family home mortgage.
Posted inEthics & Culture
Judge reinstates fired CPSC commissioners in latest battle over government cuts
In May, three commissioners for the Consumer Product Safety Commission were abruptly fired by President Donald Trump and sued for their jobs shortly after. A federal judge has ruled that the commissioners should be reinstated, although it’s unclear whether that ruling may itself be reversed.
Posted inEurope
EU, UK agree to reset rules on agrifoods, mergers and carbon trading as part of post-Brexit reset
Four years after Brexit, the U.K. and EU announced a “reset” that will ease barriers to importing and exporting food, drink, and agricultural produce. It may also harmonize rules around carbon emissions trading systems, simplifying compliance for multinational organizations that are large emitters, and enable more young people to gain work visas.
