The European Commission released its preliminary findings last week regarding Apple and Google not complying with the Digital Markets Act. It issued orders to both companies regarding their business practice and plans to release all of its findings next week.
Technology
Posted inEthics & Culture
Making a pitch for compliance: The great chase for stakeholder engagement
Speakers at Compliance Week’s Ethics and Compliance Summit swapped engagement strategies rooted in human behavior, including with through the use of generative AI, free merchandise, and live events, to meet employees where they are.
Posted inEthics & Culture
Ethics & Compliance notebook: Compliance should be a business partner, not a blocker
Compliance has long been viewed by some as the “Department of No.” What typically happens is a new product or service is being launched, and compliance is brought in at the end of the process. Inevitably, the compliance team finds aspects of the new product or service that violates a law, regulation, or rule, and so the rollout is delayed while the issue is addressed.
Posted inRegulatory Enforcement
Experts: Companies ‘underestimate risk’ as part of EU AI Act come into force
A European Union-wide ban on AI systems with “unacceptable” risk came into force on Feb. 2 as the first provisions of the EU’s AI Act took effect. Problems persist, however, over what the legislation requires and what corporate practices or uses of data may risk flouting the rules.
Posted inRegulatory Enforcement
Robinhood pays $30M in fines, restitution for faulty AML program, customer disclosures
Robinhood will pay nearly $30 million in penalties for violating Financial Industry Regulatory Authority rules with shortcomings in its anti-money launderingprogram, as well as supervisory and disclosure violations.
Posted inRegulatory Enforcement
Dismissal of CFPB’s Zelle case marks shift to ‘collective effort’ in consumer protection
The Trump administration isn’t slowing down its efforts to defang the Consumer Financial Protection Bureau, with lawsuits dropped against a handful of big banks and financial services firms, most notably a case previously accusing payments app Zelle of failing to secure its network.
Posted inBoards & Shareholders
Shareholders back Apple sticking to DEI goals as Trump blasts move
Tech giant Apple solidified its commitment to diversity, equity, and inclusion at its annual shareholder meeting on Tuesday, with 97 percent of shareholders rejecting an anti-DEI proposal, according to a public filing.
Posted inRegulatory Enforcement
New era dawns on crypto industry with SEC dismissal of Coinbase case
The Securities and Exchange Commission dismissed its lead case against the cryptocurrency industry, a lawsuit against crypto exchange Coinbase, signaling an about-face in the agency’s enforcement approach toward digital assets under President Donald Trump.
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Organizations broadly adopting AI, with varied governance
The vast majority of organizations are using artificial intelligence and generative AI, for everything from upping efficiency to driving innovation.
Posted inRegulatory Enforcement
U.K. competition and markets regulator wields new power to combat fake online reviews
Fake reviews of products and services are a global phenomenon, but regulators in the U.K. are beginning to use newly expanded powers to protect buyers and honest competitors following a recent crackdown by U.S. authorities.
