All Financial Services articles – Page 4
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ArticleU.K. regulator urges auditors to explain AI use in audits
Plans to push audit firms to disclose how they use AI in audits have been broadly welcomed, but concerns remain over how corporate data is used, secured, retained, and potentially exposed.
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News BriefSEC dodges commitment on climate rule enforcement
The SEC refused to say whether it would enforce its landmark Climate-Related Disclosure Rules in a status report filed Wednesday, deepening uncertainty as the regulation faces legal challenges.
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News BriefInteractive Brokers to pay $11.8M to settle thousands of U.S. sanction violations
A brokerage and investment firm will pay $11.8 million for providing services to individuals under U.S. sanctions, as well as people located in countries sanctioned by the U.S.
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ArticleU.K. extends bullying and harassment rules to 37,000 financial services firms
Serious bullying and harassment count as misconduct in regulated financial services firms, per a July 1 clarification by the U.K. Financial Conduct Authority, which said non-financial misconduct rules now applied only to banks will extend to 37,000 more firms starting September 1, 2026.
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News BriefFlorida alleges that Robinhood Crypto’s fee disclosures are inaccurate
The state of Florida is investigating Robinhood Crypto for falsely claiming it charges the lowest fees for processing crypto transactions.
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ArticleU.K. updates pension and asset manager rules, but internal auditors flag governance gaps
Will “taking an axe to” red tape and onerous reporting commitments free up trillions invested in U.K. pensions and increase the value of assets managed by regulated financial services firms?
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News BriefCFPB drops $95M enforcement action against Navy Federal, without explanation
The Consumer Financial Protection Bureau has dropped a $95 million enforcement action against Navy Federal Credit Union, the latest regulatory pullback by the agency under President Donald Trump.
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ArticleFCA drops ‘naming and shaming’ approach – except in ‘exceptional circumstances’
The UK’s financial regulator has had a rough ride over the past couple of years as its strategy to “name and shame” firms it opened investigations into was widely slammed by the industry and lawmakers over concerns that companies could be unfairly maligned.
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News BriefAtkins says SEC to embrace innovation, criticizes regulatory uncertainty around tokenization
SEC Chair Paul Atkins pointed to the growth of tokenized shares as a key development reshaping private markets, suggesting the agency is preparing to update its rules to keep pace with new forms of digital asset trading and settlement.
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News BriefFHFA chief orders Fannie and Freddie to consider crypto assets in mortgage assessments
In another sign of President Donald Trump’s focus on cryptocurrency, the head of the U.S. Federal Housing Finance Agency (FHFA) ordered Fannie Mae and Freddie Mac to create proposals to consider crypto assets for a single-family home mortgage.
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PremiumUK’s Failure to Prevent Fraud law may expose firms to unlimited fines and prosecution, says Moody’s compliance risk expert
Fraud now accounts for around 40% of all crime in the U.K., posing a major problem for banks and consumers. Ted Datta, head of industry practice for financial crime compliance at Moody’s, warns that the risk is growing fast.
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News BriefOFAC hits GVA Capital with $216M penalty for servicing sanctioned Russian oligarch
A San Francisco venture capital firm will pay a $216 million fine to the U.S. Treasury for violating U.S. sanctions by managing investments for a Russian oligarch.
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News BriefSEC Chair Atkins signals end to ‘regulation by enforcement’ in line with Trump’s pro-crypto agenda
The Securities and Exchange Commission Chair Paul Atkins explained his agency’s shift on cryptocurrency regulation to a Senate committee as legislators bargain over President Donald Trump’s “One Big Beautiful Bill” and the GENIUS Act, which would have the federal government invest heavily in cryptocurrency.
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News BriefDOJ says BlackRock, Vanguard, State Street pressed ESG goals to lower U.S. coal output
The Department of Justice and Federal Trade Commission have bolstered a conservative legal effort to dismantle environmental, social, and governance-based investment strategies from three large asset managers by claiming they illegally conspired to artificially raise energy prices.
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PremiumWhy tight controls matter for financial content on social media, says FPC’s O’Shaughnessy
Financial Planning Corporation is a regulated financial planning firm founded 40 years ago, gaining coveted Chartered status in 2008. As the U.K. financial regulator, the FCA promises to clamp down on unregulated “finfluencers” on social media. Moira O’Shaughnessy, managing partner and head of risk and compliance at FPC, explains why ...
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News BriefNot just for the rich: SEC may make closed-end funds available to retail investors
Securities and Exchange Commission Chair Paul Atkins indicated he favors changing the agency’s requirement that only the wealthy can invest in so-called “closed-end” private equity funds and hedge funds.
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News BriefFTC shuts down student loan firms over deceptive debt relief practices
The U.S. Federal Trade Commission (FTC) took action against a pair of student loan debt relief companies for allegedly deceiving borrowers. The move came despite the Trump administration’s broader efforts to roll back enforcement actions against businesses since taking office.
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News BriefSEC Chair Atkins advances Trump’s pro-crypto efforts, promising first market rules
The head of the Securities and Exchange Commission promised new sets of rules around cryptocurrency assets, saying his team intends to lay out regulatory frameworks around custody and “qualified custodians,” as well as guidelines around issuing and trading. The expected move marks the latest step in the U.S. government’s embrace ...
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News BriefCFPB drops Google Payment oversight, latest enforcement pullback under Trump
The Consumer Financial Protection Bureau continued advancing President Donald Trump’s pullback of corporate oversight last week, as it halted supervision of Alphabet’s Google Payment subsidiary. The move followed similar efforts by the Trump administration to weaken government enforcement efforts, particularly concerning digital currencies.
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News BriefSEC drops Morgan Stanley cash sweep case: Sign of the times?
A decision by the Securities and Exchange Commission to close an investigation into the cash sweep program at Morgan Stanley may affect decision-making at other financial institutions under similar scrutiny.