The Securities and Exchange Commission wants broker-dealers and certain clearing agencies to know the expectations for the reduction of the settlement cycle for national and international trades from two business days after the trade date to one day.
Risk Management
Posted inRisk Management
CISA teases cyber incident reporting rule for critical infrastructure
Financial businesses and other critical infrastructure entities would have to report significant cybersecurity and ransomware incidents to the federal government under a new rule that will be proposed by the Cybersecurity and Infrastructure Security Agency.
Posted inAccounting & Auditing
Chemours: DOJ, SEC probing exec accounting misconduct
Chemours disclosed it received requests for information from the Department of Justice and Securities and Exchange Commission regarding findings from an internal review into alleged accounting misconduct by several of its top executives.
Posted inEthics & Culture
U.K. sets recommendations to address misogyny in finance
Sexism, sexual assault, and bullying are rife at financial services organizations, according to a recent report by the U.K. Treasury Committee. “The government and financial regulators have important roles to play in driving change,” the committee said.
Posted inEthics & Culture
DOL orders Tuff Torq to pay $1.8M over child labor violations
The Department of Labor ordered Tennessee-based Tuff Torq Corp. to pay nearly $1.8 million over alleged child labor violations.
Posted inRegulatory Enforcement
FINRA orders Stifel units to pay $2.3M for repeat compliance failures
Two subsidiaries of Stifel Financial Corp. agreed to pay a collective total of about $2.3 million over alleged violations of Financial Industry Regulatory Authority rules regarding nontraditional exchange-traded products.
Posted inAccounting & Auditing
NAVEX whistleblower report finds third parties lead on business integrity
A new report on corporate whistleblowing and hotline trends in 2023 found reporting volume at an all-time high, with key disparities uncovered between reports filed by third parties and those filed by employees.
Posted inEurope
Big Tech practices draw early scrutiny under Digital Services Act, Digital Markets Act
TikTok and X are under investigation related to their respective compliance with the European Union’s Digital Services Act, while the first three companies probed under the Digital Markets Act include Apple, Alphabet, and Meta.
Posted inEthics & Culture
OCC’s Hsu: ‘Sense of fairness’ key to bank compliance initiatives
Acting Comptroller of the Currency Michael Hsu argued banks should adopt a “strong sense of fairness” to bolster the effectiveness of their compliance programs, particularly regarding lending decisions guided by AI and machine learning tools.
Posted inEurope
EU regs for energy-efficient buildings raise questions for commercial property
Organizations with property in the European Union should be asking more questions about their sustainability and emissions in light of revised plans to decarbonize buildings across the region.
