All Government articles – Page 4
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ArticleTreasury seeking comment on illicit finance risks posed by digital assets
The Treasury Department is seeking public input on how to address illicit finance and national security risks posed by digital assets, part of a multipronged push by the Biden administration to hold bad actors accountable and identify potential enforcement and regulatory gaps.
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CFTC commissioner calls for agency to require more admissions of guilt
Commissioner Christy Goldsmith Romero would like the Commodity Futures Trading Commission to stop offering no-fault settlements as a matter of routine but instead force more individuals and corporations to accept responsibility for their wrongdoing.
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DOJ to emphasize individual accountability, prior misconduct in corporate crime probes
Deputy Attorney General Lisa Monaco announced sweeping changes to the Department of Justice’s efforts to fight corporate crime, including new guidance regarding individual accountability, voluntary self-disclosure, compliance monitors, and ways to strengthen compliance culture.
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Regulation by enforcement does nobody any favors
To see a prominent representative from the CFTC accuse the SEC of “regulation by enforcement” might raise the eyebrow of some observers. But it shouldn’t—not when that’s the latter’s stated strategy.
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PCAOB vet Mark Adler returns to lead enforcement
The Public Company Accounting Oversight Board announced the appointment of Mark Adler as acting director of its Division of Enforcement and Investigations.
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OCC names chief climate risk officer to lead new office
The Office of the Comptroller of the Currency has reinforced its commitment to confronting risks posed by climate change with the appointment of Yue (Nina) Chen as chief climate risk officer.
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U.S. sanctions Iran intelligence ministry over Albania cyberattack
Iran’s minister of intelligence, together with its Ministry of Intelligence and Security, were sanctioned by the Treasury Department’s Office of Foreign Assets Control for malicious cyber activities that threaten the national security of the United States and its allies.
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Reports: Ex-AB InBev compliance exec to join DOJ’s Fraud Section
Matt Galvin, the former head of compliance at macro brewer Anheuser-Busch InBev, has been tapped by the Department of Justice to join its Fraud Section as a compliance and data analytics counsel, according to multiple reports.
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Upheld ex-Alstom exec’s acquittal affirms ‘setback’ for FCPA’s reach
The latest development in the nearly decadelong Lawrence Hoskins court case has the potential to open the door for foreign nationals involved in aiding U.S. companies with foreign bribery schemes to escape liability under the Foreign Corrupt Practices Act, according to experts.
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SEC reverses Clayton-era whistleblower rule changes
The Securities and Exchange Commission amended its rules to provide further incentives to whistleblowers, particularly in cases involving large payouts or multiple federal agencies.
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U.S., Israel finalize deal on cybersecurity cooperation
The United States and Israel have finalized an agreement to work together to protect the financial sector from cybersecurity attacks, the U.S. Treasury Department announced.
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Too little, too late? SEC adopts long-dormant pay vs. performance rule
After years of sitting on the shelf, the pay vs. performance rule mandated by the Dodd-Frank Act was adopted by the Securities and Exchange Commission.
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FTC seeks to expand authority on data breaches, commercial surveillance
The Federal Trade Commission is seeking comment on potential rules that would penalize companies that suffer data breaches due to lax cybersecurity protocols and punish firms that engage in abusive commercial surveillance practices.
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Sarbanes-Oxley 20th anniversary: Time to revisit SOX programs
Twenty years ago, in the aftermath of the Enron and WorldCom financial reporting scandals, Congress acted and created the Sarbanes-Oxley Act of 2002. Such a milestone anniversary marks a good time for organizations to refresh, rethink, and modernize their SOX programs.
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Senators demand answers from U.S. Bank on fake accounts scandal
Democratic senators are calling on U.S. Bank to answer questions before a Senate committee regarding an alleged fake accounts scandal the bank recently paid $37.5 million to settle.
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SEC: Adherence to Reg BI should be embedded in compliance culture
Staff at the Securities and Exchange Commission warned investment advisers and broker-dealers they must continually identify, mitigate, and disclose all conflicts of interest regarding advice they make to retail investors to remain in compliance with Regulation Best Interest.
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SEC appoints Anthony Thompson to second term on PCAOB
The Securities and Exchange Commission announced the appointment of Anthony Thompson to a second term on the Public Company Accounting Oversight Board.
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SEC touts data analytics in launching 3 insider trading cases
The Securities and Exchange Commission utilized data analytics to detect suspicious trading activity and form the basis of three separate insider trading cases.
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SFO accepts ‘sobering’ results of Unaoil, Serco case reviews
The U.K.’s Serious Fraud Office was criticized for its leadership, culture, and conduct in a report examining why the agency botched a key corruption case against Unaoil that has now seen three convictions overturned.
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Dear SEC: The compliance community wants to be a partner, not a target
Communication between the Securities and Exchange Commission and the compliance community is not happening as robustly as compliance practitioners would like. The result is compliance officers are more concerned than ever the agency will target them in an enforcement action.
