The state of Texas forecasted “aggressive enforcement” of its upcoming data privacy law with the announcement of a dedicated team to oversee its implementation.
Regulatory Policy
Posted inRisk Management
‘Why us?’ SEC lists reasons it conducts examinations of broker-dealers
A risk alert from the Securities and Exchange Commission listed top reasons why a registered broker-dealer might be the subject of an examination.
Posted inEurope
EU agencies examine efforts to identify and monitor examples of greenwashing
The European Securities and Markets Authority, European Banking Authority, and European Insurance and Occupational Pensions Authority issued reports on greenwashing in the financial sector, describing how they plan to call out examples of false or misleading sustainability claims.
Posted inAccounting & Auditing
Reignited calls to tighten up AML in London, crown dependencies
Despite repeated interventions, fines, and negative publicity, money laundering is rife in U.K. financial services firms, according to Deputy Foreign Secretary Andrew Mitchell.
Posted inFinancial Services
Court overturns SEC private fund adviser rule, calls out agency overreach
A federal appeals court struck down the Securities and Exchange Commission’s private fund adviser rule, agreeing with industry advocates that the agency overstepped its authority.
Posted inAnti-Bribery
What to watch for as DOJ whistleblower program sprint ends
The Department of Justice’s 90-day sprint to developing and implementing a pilot whistleblower rewards program ended Wednesday, and many questions remain about what the program will entail.
Posted inFinancial Services
CFPB to require nonbanks to register outside enforcement orders
The Consumer Financial Protection Bureau passed a new rule requiring nonbank financial companies to register consumer protection orders filed against them by other federal agencies, courts, or states.
Posted inTechnology
EEOC latest regulator to name AI chief
The Equal Employment Opportunity Commission announced the appointment of an officer overseeing the use of artificial intelligence, becoming the latest agency to create the role called for in a President Joe Biden executive order.
Posted inEurope
Big Tech data for finance: Will FCA plans set trend?
Plans in the United Kingdom to share Big Tech data with financial services firms could prompt other industry regulators to follow suit or result in “unintended consequences” that see Meta, Google, and others growing market share.
Posted inRegulatory Enforcement
Podcast: SEC Commissioner Hester Peirce on regulatory demands, CCO input
Compliance Week’s Aaron Nicodemus sat down for an exclusive chat with SEC Commissioner Hester Peirce covering the flood of new regulation emanating from the agency, stresses on compliance at smaller firms, CCO liability, and more.
