The European Union announced an agreement to ban products made with forced labor, a decision that will oblige organizations to track and declare more information about their supply chains for goods entering EU markets.
Regulatory Policy
Posted inAnti-Bribery
DOJ on sprint toward pilot whistleblower reward program
Deputy Attorney General Lisa Monaco said the Department of Justice will look to fill gaps in its whistleblower procedures with the launch of a 90-day sprint toward a DOJ-led pilot whistleblower reward program.
Posted inFinancial Services
SEC expands scope of order execution disclosure rule
Lost in the shuffle of the approval of its controversial climate-related disclosure rule, the Securities and Exchange Commission also adopted amendments to its rule for order executions in national market system stocks.
Posted inRegulatory Enforcement
Monaco: ECCP update coming for management of AI risks
The Department of Justice is working on an update to its Evaluation of Corporate Compliance Programs guidance to spell out the responsibilities of compliance staff for managing artificial intelligence-related risks.
Posted inAccounting & Auditing
Concessions can’t save ‘cursed’ SEC climate disclosure rule from scrutiny
The Securities and Exchange Commission finally approved its ground-breaking climate-related disclosure rule, nearly two years since it was originally proposed. Though the agency significantly watered down aspects of its proposal, the rule is already facing the prospect of legal challenge.
Posted inEthics & Culture
Top brands shamed for U.K. minimum wage failings ahead of hike
The U.K.’s Department for Business and Trade named 524 businesses found to have failed to pay the national minimum wage, ahead of wage hikes for certain workers that will take effect April 1.
Posted inAccounting & Auditing
Experts: What to expect ahead of SEC climate-related disclosure rule vote
Nearly two years after it was first proposed, the Securities and Exchange Commission is finally poised to approve its climate-related disclosure rule—albeit a watered-down version, by all indications.
Posted inEurope
FCA warns CEOs over firm AML failings
The U.K. Financial Conduct Authority warned the chief executive officers of approximately 1,000 financial institutions it supervises regarding common failures in anti-money laundering procedures it observed during recent assessments.
Posted inAML
Judge’s ruling calls FinCEN beneficial ownership registry into question
A federal court judge in Alabama ruled the Corporate Transparency Act was beyond Congress’s power, potentially throwing the effectiveness of the Financial Crimes Enforcement Network beneficial ownership information registry into doubt.
Posted inData Privacy
Biden executive order to target commercial data broker activities
A new executive order seeks to put clamps on the sale of Americans’ personal data by data brokers and other companies to certain countries found to be of national security concern.
