Rules & Proposals

Newly proposed legislation is making the rounds of the Senate in an effort to strike against unwanted telephone solicitations.

Senate Democrats are alleging violations of net neutrality principles by mobile data carriers who they claim, backed by recent research, are slowing down online traffic.

The cutting-edge question asked by Federal Reserve Governor Lael Brainard at a recent conference: “What are we learning about artificial intelligence in financial services?” She answered with a look at the regulatory landscape.

The World Series reinforced an important lesson in how compliance officers should deploy data analytics.

Members of the SEC’s Investor Advisory Committee are recommending that forthcoming rules for investment advisers be made more explicit and in line with past visions of a “fiduciary duty.”

Two influential groups representing the interests of banks are petitioning the Consumer Financial Protection Bureau for formal rulemaking regarding the use of supervisory guidance.

Firms offering variable annuities and variable life insurance contracts could soon face new disclosure requirements. Changes proposed by the SEC would permit the use of a summary prospectus to provide disclosures to investors.

The SEC has adopted amendments to improve and modernize disclosures by mining companies. The changes are intended to provide investors with “a more comprehensive understanding of a registrant’s mining properties.” 

The SEC has advanced new rules and amendments that that will require broker-dealers to disclose to investors “new and enhanced information about the way they handle investors’ orders.”  

Sen. Ron Wyden (D-Ore.) has announced proposed legislation that would “impose harsh fines and prison terms for executives at corporations that misuse Americans’ data.”

The Food and Drug Administration and Department of Homeland Security have announced a new framework for greater coordination and cooperation when addressing cyber-security in medical devices.

The Conference of State Bank Supervisors is suing to prevent the OCC from granting special national bank charters to non-banks, specifically FinTech firms.

The FSOC has reversed a previous determination that material financial distress at Prudential Financial could pose a threat to U.S. financial stability. 

U.S. Senators Catherine Cortez Masto (D-Nev.) and Amy Klobuchar (D-Minn.) have written a letter to Google CEO Sundar Pichai that demands more information regarding a recently reported breach.

The United States, Mexico, and Canada have reached a long-awaited revamped trade agreement, which goes by the moniker “NAFTA 2.0.” The pact portends significant changes to the global trade compliance space.

The SEC has released a new strategic plan that is intended to guide the agency’s work over the next four years “with a primary focus on investors, innovation, and performance.”

Federal banking regulators have issued an alert for financial institutions affected by Hurricane Michael. The alert covers the storm’s effects on loan modifications, regulatory reporting, and compliance with the Community Reinvestment Act.

Sen. Bernie Sanders (I-Vt.) has introduced legislation that would “break up the nation’s biggest banks and risky financial institutions in order to safeguard the economy.” Rep. Brad Sherman (D-Calif.) will file a companion bill in the House.

Climate change activists are upping the pressure on public companies to disclose the risks they face due to a potential environmental catastrophe. Those efforts include an SEC petition for rulemaking and a new Senate bill.

CFTC Chairman J. Christopher Giancarlo plans to spearhead new rule proposals to address a range of cross-border issues with swaps regulation.

Federal bank regulators have announced that certain community banks and credit unions may share resources in an effort to bolster Bank Secrecy Act compliance and anti-money laundering obligations.

Senators Edward J. Markey (D-Mass.) and Richard Blumenthal (D-Conn.) are calling upon the FTC to investigate the practices of app developers and app stores accused of accessing children’s sensitive data without required consent. 

A federal court has ruled that the Commodity Futures Trading Commission has the power to prosecute fraud involving virtual currency.

Numerous states over the past few months have passed laws, or have legislation in the works, that seek to prevent sexual harassment in the workplace, and that means stringent new compliance obligations for companies.

The Financial Crimes Enforcement Network has issued an advisory to alert U.S. financial institutions of the increasing risk that proceeds of political corruption from Nicaragua may enter the U.S. financial system.