The U.K.’s Chancellor of the Exchequer Rachel Reeves has promised a “radical action plan” to cut the cost of regulation to businesses by a quarter and boost economic growth. Now the Cabinet Office has written to government departments requiring them to justify every quango, with the presumption that these semipublic administrative bodies will be axed or folded back into government departments. The changes are being pushed forward faster because of concerns that President Donald Trump’s imposition of trading tariffs could trigger a global recession.
Regulatory Policy
Posted inRegulatory Policy
First he attacked the ‘S’ in ESG. Now Trump’s after the ‘E’ with an EO on state climate laws
President Donald Trump has issued an executive order slamming state-led efforts to address climate change, reduce greenhouse gas emissions, and other environmental, social, and governance (ESG)-related laws.
Posted inFinancial Services
New cybersecurity requirements fast approaching for New York financial firms
Many financial firms have mere days to notify New York about whether they have complied with the state’s strict cybersecurity regulations, and to gear up for new requirements rolling out May 1 and beyond.
Posted inRegulatory Policy
FCA faces criticism for email retention policy critics say risks erasing evidence
The UK’s financial regulator has come under fire for its announcement that it is going to delete emails after a year in an effort to become a more “efficient” regulator, raising concerns that it might accidentally erase evidence in the process.
Posted inAccounting & Auditing
New York, California will require companies to report greenhouse gas emissions
Some companies doing business in California and New York may soon be required to report the greenhouse gas emissions (GHG) of their operations to state authorities, even as the federal rule for disclosing such emissions is on life support.
Posted inFinancial Services
California Attorney General Bonta warns businesses that FCPA still in full force
The federal government may have paused enforcement of the Foreign Corrupt Practices Act (FCPA), but that’s not the case in California, where bribes to foreign officials will be prosecuted, Attorney General Rob Bonta warned.
Posted inData Privacy
EU looking to scale back GDPR in coming weeks
The European Union’s General Data Protection Regulation has been in effect since 2018, requiring companies to securely handle users’ personal data. The European Commission will reportedly review the regulations and claw back some of the rules, which could make doing business in Europe a little easier for these companies.
Posted inEurope
Companies unprepared for European Accessibility Act as June deadline looms
An accessible website should be a basic requirement for businesses, allowing the largest number of people to access a company’s content and services. With technology as an enabler, it also makes good business sense. After all, why would any organization want to hinder customer access? However, many websites are not fully accessible, and when the European Accessibility Act comes into effect on June 28, this will be an issue for compliance managers across Europe – and beyond.
Posted inAML
Trump’s pivot on crypto leads SEC to seek settlement with Gemini
The Securities and Exchange Commission (SEC)’s pivot in favor of crypto took another step as the agency indicated it wants to resolve a long-standing lawsuit against the crypto exchange Gemini.
Posted inAML
OFAC, FinCEN tighten screws on Sinaloa Cartel’s money laundering network
The Trump administration has taken two actions to attack money laundering rings operating in Mexico, highlighting the U.S. government’s focus on curbing the fentanyl trade and the illegal profits it generates.