The EU’s main data regulator has issued new guidelines so that fines under the General Data Protection Regulation are in line from one EU country to the next.
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Posted inTop Stories
SEC’s Woodcock: Enforcement division aims to aggressively enforce fraud
The SEC’s overarching priority is to “get back to basics,” David Woodcock, the commission’s director of the Division of Enforcement, said.
Posted inArtificial Intelligence
Deloitte survey exposes compliance gaps as a third of employees admit using shadow GenAI at work
Nearly a third of generative AI users bring their own GenAI tools to work and use them without their employer’s knowledge, raising important compliance concerns over issues such as cyber risks, copyright and audit trails.
Posted inRegulatory Policy
FCA expands non-financial misconduct rules to 37,000 more firms
Financial firms can now face regulatory action for bullying, harassment, and acts of violence under rules that have come into effect in the United Kingdom to counter sexism, misogyny, and poor corporate culture in the workplace. The Financial Conduct Authority’s (FCA) rules regarding non-financial misconduct (NFM) have been extended so that they not only apply […]
Posted inTop Stories
Fuel card company agrees to pay $100M over improper fee allegations
A company that sells fuel cards to businesses and its chief executive have agreed to pay $100 million to resolve allegations that customers were charged hidden fees.
Posted inArtificial Intelligence
In the AI governance race, EY’s Dilek Çilingir explains how compliance can keep AI in step
AI has driven massive change in three years, but governance hasn’t kept up, creating integrity and compliance gaps. Risks from hallucinations, misunderstood outputs, and democratized use are now clearer, while some organizations are cutting soaring AI costs.
Posted inRegulatory Policy
DOJ revisions to Justice Manual address False Claims Act enforcement
The DOJ recently revised the Justice Manual to reinstate previous agency policy on how it will enforce FCA cases moving forward, and when it will seek to dismiss whistleblower actions.
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Abbott to pay almost $385M in DOJ settlement over infant formula plant allegations
Abbott Laboratories will pay nearly $385 million to settle allegations, first brought by whistleblowers, that two of its infant formula plants had unsanitary conditions that did not comply with federal and state regulations, the DOJ announced.
Posted inArtificial Intelligence
California presses ahead with executive order for AI safeguards, cites federal government “abject failure”
California Governor Gavin Newsom has issued an executive order to explore whether companies should develop a “kill switch” for any potentially harmful AI tech they develop.
Posted inBanking
CFTC proposes reviving 2012 exemption for pool operators, advisors
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.