All Regulatory Policy articles – Page 28
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PremiumFrom 5 to 11: Keeping up with new state data privacy laws
If multi-state businesses thought at the start of 2023 complying with a patchwork of U.S. state privacy laws was going to be a lot of work, now they must be overwhelmed. Experts assess the fast-evolving U.S. privacy landscape.
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News BriefSwitzerland floats AML reforms for beneficial ownership, legal advice
The Swiss government launched consultation proceedings on a series of reforms designed to combat money laundering and terrorist financing occurring within the country’s financial system.
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News BriefFCA to review treatment of U.K.-based PEPs
The Financial Conduct Authority announced the scope of its review into the treatment of U.K.-based politically exposed persons, the latest development in response to the Nigel Farage “debanking” scandal.
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News Brief
FCPA opinion shines light on reasonable expenses for foreign officials
A Foreign Corrupt Practices Act review published by the Department of Justice offers further clarity around when the agency would determine expenses paid on behalf of a foreign official to be deemed “reasonable and bona fide.”
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PremiumLarge companies in crosshairs early under German Supply Chain Act
Amazon, IKEA, and Volkswagen were among the companies targeted in the first round of complaints under the German Supply Chain Due Diligence Act—an early indication nongovernmental organizations will seek to hold big businesses accountable for alleged human rights violations.
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News BriefFINMA guidance calls out Swiss bank failings on AML risk analysis
Switzerland’s Financial Market Supervisory Authority published new guidance to improve banks’ money laundering risk analysis after repeatedly identifying shortcomings during on-site supervisory reviews.
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News BriefLabor Department proposal seeks clarity for OSHA inspection reps
The Department of Labor issued a notice of proposed rulemaking to clarify regulations regarding authorized employee representatives during Occupational Safety and Health Administration compliance officer inspections.
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News Brief
Banking reg proposals eye greater flexibility for FDIC amid failures
Federal banking regulators jointly issued new rule proposals and proposed guidance in continuing the push to shore up the U.S. regulatory system after a series of mid-sized bank failures earlier this year exposed apparent gaps.
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PremiumExpert views mixed on proposed U.K. AML reforms
Experts share differences of opinion over whether future anti-money laundering supervision in the United Kingdom should be industry specific and whether a single regulator would be more effective than multiple bodies.
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PremiumCFTC commissioner: Three ways to address climate-related financial risks
Christy Goldsmith Romero, a commissioner with the Commodity Futures Trading Commission, recommended three action items to help the agency and regulated entities “measure, understand, and address climate-related financial risk.”
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PremiumNew SEC rules for private fund advisers will keep compliance teams busy
Even though compliance dates for the Securities and Exchange Commission’s new private fund rules are a year to 18 months away, compliance teams should start analyzing the impact now, according to experts.
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PremiumPreparing for SEC cybersecurity rules an opportunity for collaboration
Businesses can prepare for the Securities and Exchange Commission’s upcoming cybersecurity disclosure rule by going through it and identifying key gaps in compliance.
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SEC passes sweeping new rules for private fund advisers
The Securities and Exchange Commission passed a sweeping set of rules for the $26 trillion private fund industry designed to increase transparency and competition but with provisions that address industry concerns about potential overreach.
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News BriefFintech to pay $1M in first violation of SEC’s amended marketing rule
The Securities and Exchange Commission ordered Titan Global Capital Management USA to pay more than $1 million for allegedly misleading investors with hypothetical performance metrics in its advertising.
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News BriefSEC commissioners criticize order against transfer agent DST
The Securities and Exchange Commission’s two Republican commissioners dissented from an agency order against transfer agent DST Asset Manager Solutions they deemed to be an example of regulation by enforcement.
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PremiumCFPB’s Chopra teases new rules for data brokers at White House roundtable
The Consumer Financial Protection Bureau is moving forward with plans to propose new rules for data brokers that would regulate their personal data gathering activities under the Fair Credit Reporting Act.
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News BriefCCPA first state privacy law deemed adequate by Dubai financial hub
The Dubai International Financial Centre announced the California Consumer Privacy Act passes muster, allowing compliant California businesses to be the first permitted to transfer data with the DIFC without additional contractual measures.
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News BriefN.Y. cyber strategy puts pressure on banks, energy sector
New York will closely monitor the cybersecurity protections in place at institutions in the financial and energy sectors as part of its first statewide cybersecurity strategy.
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PremiumRisks, opportunities under SEC’s cyber incident disclosure rule
The clock is ticking for public companies to put in place policies and practices to meet the requirements of the Securities and Exchange Commission’s newly approved cybersecurity incident disclosure rule.
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News BriefSEC risk alert flags staffing, policy weaknesses in AML compliance exams
Broker-dealers complying with anti-money laundering/countering the financing of terrorism requirements put forward by the SEC must be mindful of the resources they are providing for their programs during the current heightened risk environment.