All Government articles – Page 9
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ArticleSaule Omarova, Biden’s nominee to lead OCC, withdraws
Saule Omarova withdrew her candidacy for Comptroller of the Currency after facing fierce Republican opposition—and skepticism from some key Democrats—during her nomination hearing.
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FinCEN beneficial ownership registry takes shape in proposed rule
FinCEN’s proposed rule for a new beneficial ownership registry was released as part of the U.S. government’s efforts to pull back the veil on anonymous shell companies used to launder illicit profits from corruption, money laundering, and other financial crime activities.
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Compliance takeaways from Biden strategy on countering corruption
President Joe Biden’s sweeping anti-corruption initiative includes developments in two key areas of interest for the compliance profession: the U.S. beneficial ownership registry and a new proposal to expand reporting requirements on cash real estate transactions.
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Commerce Department to examine privacy concerns of disadvantaged communities
The Biden administration, through the Commerce Department’s National Telecommunications and Information Administration, intends to broaden the way it addresses privacy concerns for marginalized and disadvantaged communities.
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Biden to nominate Jerome Powell for second term as Fed chair
President Joe Biden announced his intention to nominate Jerome Powell to serve a second term as chair of the Federal Reserve and Lael Brainard to serve as vice chair.
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SEC enforcement report: Total actions down in FY2021; first-of-their-kind cases up
The number of total enforcement actions filed by the Securities and Exchange Commission fell 3 percent in fiscal year 2021, according to the agency’s annual enforcement report.
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Senate grills Comptroller candidate Saule Omarova on writings, past
Saule Omarova faced extraordinary questioning from Republicans on her background and previously expressed views during her nomination hearing to be the next Comptroller of the Currency.
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SEC rewrites whistleblower record books during historic FY2021
The SEC announced more whistleblower awards to more recipients in fiscal year 2021 than all prior years combined, according to the agency’s annual report to Congress.
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Treasury ransomware response: More sanctions, updated FinCEN guidance
The U.S. Treasury continued its crackdown on facilitators of ransomware payments, sanctioning a second virtual currency exchange and its affiliates and updating FinCEN guidance to help make financial institutions more aware of related red flags.
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Fed supervision head Randal Quarles to resign
Randal Quarles, vice chair for supervision at the Federal Reserve, submitted his resignation as a member of the board, effective at the end of December.
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Mexico AML chief resigns amid wedding scandal
Santiago Nieto stepped down as head of Mexico’s Financial Intelligence Unit after controversy surfaced regarding a large amount of cash found on a plane carrying guests to his wedding in Guatemala.
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SEC appoints 4 to overhauled PCAOB; Erica Williams named chair
The SEC appointed Erica Williams to serve as chairperson of the newly overhauled PCAOB. Kara Stein, Christina Ho, and Anthony Thompson will join as new additions, while Acting Chair Duane DesParte will remain on as a board member.
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SEC approves rule establishing process for delisting foreign companies
The SEC approved a rule establishing the process for delisting foreign companies from U.S-based exchanges if they do not allow U.S. regulators to examine their finances.
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Nicole Creola Kelly named chief of SEC’s Office of the Whistleblower
The Securities and Exchange Commission has appointed Nicole Creola Kelly to be the next chief of its Office of the Whistleblower.
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Roisman: SEC should consider stricter cyber reporting for public companies, advisers
SEC Commissioner Elad Roisman says the agency should mull over whether to require public companies and investment advisers to perform the same kind of reporting, preparation, and planning for cyber incidents that FINRA requires of registered broker-dealers.
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CFPB picks consumer advocate Eric Halperin to lead enforcement
Newly confirmed CFPB Director Rohit Chopra has chosen Eric Halperin to lead the agency’s Office of Enforcement, as well as announcing the appointment of Lorelei Salas as assistant director for supervision policy.
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SEC awards whistleblower extra $2M for DOJ action
The Securities and Exchange Commission announced a second award to a whistleblower after their information provided led to a successful related action by the Department of Justice.
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DOJ vows stricter white-collar enforcement, increased risk of monitors
Deputy Attorney General Lisa Monaco shares actions the Department of Justice will be taking to strengthen its response to corporate crime and what areas it will be looking at moving forward.
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Rohit Chopra-led CFPB cracking down early on data, automation
Rohit Chopra has led the Consumer Financial Protection Bureau for less than a month, but one area of examination and enforcement priority is already coming into focus: data.
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FRC reporting review: COVID-19 disclosures lacking, new climate-related mandates
In its annual review of corporate reporting, the U.K. Financial Reporting Council found companies are struggling to provide stakeholders with enough detail about COVID-19 disruptions. The regulator also announced new requirements for climate-related disclosures.
