The European Securities and Markets Authority published its final report containing guidance for the use of environmental, social, and governance- and sustainability-related terminology in fund names.
Regulatory Policy
Posted inTechnology
Fed governor: Regs should engage with industry on safe DLT use in banking
Federal Reserve Board Governor Michelle Bowman argued banking regulators should move from their current reactive posture on banking innovation to a position that actively encourages new technologies, business models, and ideas to solve age-old problems.
Posted inRegulatory Enforcement
Treasury says closing AML regulation loopholes top priority
The Treasury Department’s efforts to eliminate regulation loopholes that help enable money laundering in the U.S. financial system will remain a top priority as part of the agency’s 2024 national illicit finance strategy.
Posted inEthics & Culture
White House unveils AI workplace principles; Senate group roadmaps AI policy
Microsoft and Indeed stepped up to adopt new artificial intelligence principles put forth by President Joe Biden, while leading senators took a step toward crafting AI legislation.
Posted inRegulatory Enforcement
Supreme Court rules CFPB funding structure constitutional
The Supreme Court rejected a claim that the Consumer Financial Protection Bureau’s funding mechanism is unconstitutional, removing a legal challenge that had the potential to overturn all the agency’s regulations and enforcement actions.
Posted inFinancial Services
SEC amends Reg S-P to require data breach notification within 30 days
The Securities and Exchange Commission will require broker-dealers and registered investment advisers to adopt written policies and procedures for handling data breaches of customer data and notify affected customers within 30 days.
Posted inEthics & Culture
FDIC culture scandal begs question: Why don’t regs have CCOs?
Regulators and government agencies often speak to the value of empowered corporate compliance programs to advancing their mission. Why not practice what they preach by empowering compliance among their own ranks?
Posted inRisk Management
FTC staff lay out compliance steps for noncompete ban
Staff at the Federal Trade Commission offered several steps businesses can take to comply with the agency’s upcoming ban on employee noncompete clauses.
Posted inRisk Management
NYDFS offers cyber rule compliance template for small businesses
The New York State Department of Financial Services issued guidance for small businesses attempting to comply with its cybersecurity regulations.
Posted inAccounting & Auditing
PCAOB reestablishes its fundamentals with new standards
The Public Company Accounting Oversight Board adopted two new standards that address key audit areas upon which it was relying on benchmarks established more than 20 years ago.