Canadian lawmakers will come together to discuss TD Bank’s reported failure to prevent drug traffickers from laundering proceeds of fentanyl sales on its platform.
Risk Management
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.
Posted inRisk Management
Survey: Public companies fear added cyber risks from SEC disclosures
Large public companies say they are prepared to comply with the disclosure requirements of the SEC’s new cybersecurity incident rule, according to a survey conducted by Compliance Week and DLA Piper, but concerns exist that those reports could enhance the threat of future cyberattacks.
Posted inRisk Management
SEC, FinCEN propose customer ID program for investment advisers
The Securities and Exchange Commission and Financial Crimes Enforcement Network proposed a rule requiring registered investment advisers to implement customer identification programs, another facet of a coordinated attempt to close an apparent loophole in federal AML regulations.
Posted inRisk Management
FSOC warns on liquidity risk by nonbank mortgage servicers
A new report by the Financial Stability Oversight Council recommended state regulators and Congress take steps to minimize “significant liquidity risk” posed by the nonbank mortgage servicing industry.
Posted inEthics & Culture
Lawsuit: Ex-Panoramic Health assistant GC alleges retaliation linked to CCO supervisor
The former assistant general counsel at Panoramic Health is suing her former employer alleging wrongful termination after flagging safe harbor violations of the Anti-Kickback Statue.
Posted inRegulatory Enforcement
DOJ launches task force on anticompetitive practices in healthcare
The Department of Justice’s Antitrust Division created a new task force to examine collusion and monopolies in the healthcare industry.
Posted inRisk Management
Fed-led climate scenario analysis highlights data gaps, insurance costs
The Federal Reserve Board and six large American banks released the results of a pilot climate scenario analysis that explored how resilient the banks’ business models were to climate-related financial risks.
