The CFTC has proposed a rule that would codify informal registration exemptions that commodity pool operators and commodity trading advisors have been enjoying by virtue of a no-action letter issued in December.
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Posted inRegulatory Enforcement
FCA warns firms to tighten non-financial misconduct compliance after Crispin Odey’s lifetime ban upheld
The U.K. financial regulator has warned firms that it won’t tolerate a “slapdash” approach to ethics and non-financial misconduct.
Posted inTechnology
Strange Polymarket trades, a KPMG employee, and a prediction market insider trading case
At a time when U.S. enforcement authorities and regulators are more closely scrutinizing insider trading in the prediction-markets space by public-company employees, another alleged insider-trading case is unfolding, this time concerning a KPMG employee.
Posted inArtificial Intelligence
Experts welcome U.K.’s approach to AI supervision in financial services—but with provisos
The U.K.’s approach to regulating AI in financial services by focusing on outcomes and consumer protection, rather than introducing new rules, has been largely welcomed by experts—so long as the current regulatory framework is regularly reviewed.
Posted inCompliance Week
Learning from loss: Compliance lessons from the July Fourth flood
From the outside, compliance is often seen as laws, policies, prohibitions, and mandates—what has to be done or mustn’t be done. But every rule, policy, procedure, and decision has a human impact.
Posted inManufacturing
Manufacturers of EU digital products must now report cyber incidents within 24 hours
If you make or sell digital products in the EU, you must now report all exploited vulnerabilities and “severe” incidents that impact their security within 24 hours of becoming aware of them. These rules apply to every sector that produces products with a digital element – from baby monitors to smart watches and apps.
Posted inRegulatory Enforcement
Former NY home care owner faces more than 6 years for Medicaid fraud
The former owner of a New York home health care company and two adult day care centers will pay $61 million and was sentenced to more than six years in prison for Medicaid fraud, the DOJ National Fraud Enforcement Division announced.
Posted inBest Practices
Preparing for prediction markets regulations is a safe bet
Prediction market contracts initially gained popularity as a way for people to engage in sports betting, but have evolved to mimic financial derivative products with little institutional oversight.
Posted inArtificial Intelligence
U.K. AI risk management toolkit targets current and future compliance
The U.K. government has published an AI Risk Management Toolkit for “multidisciplinary teams” who work with AI implementations, procurement, or delivery.
Posted inData Privacy
Grindr agrees $35 million settlement for U.K. complaint over serious data breaches
The tech company behind gay dating app Grindr has agreed to make a $35.2 million settlement over allegations that it shared sensitive personal medical information—including whether people were HIV positive—with third parties.
