All Regulatory Policy articles – Page 50
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PremiumHow will Biden administration impact compliance
Six senior compliance practitioners reflect on how they anticipate the Joe Biden presidency, and the expected regulatory changes coming with it, will impact the compliance function.
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ArticleTen things I’d like to see happen in 2021 (2020 in review)
Many of the things I’d like to see in 2021 are directly related to regulatory changes we anticipate are coming under a Biden administration, but they’re mixed with a few lessons from the pandemic we hope carry into a post-COVID world.
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ArticlePaul Sarbanes, co-author of SOX accounting law, dies at 87
Paul Sarbanes, the five-term U.S. Senator whose landmark law, the 2002 Sarbanes-Oxley Act, required more transparency in corporate financial reporting, died Sunday at age 87.
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ArticleBiden’s SEC set to require disclosure of ESG, climate change risk
The SEC under President-elect Joe Biden will push ESG and climate change-related risk alerts, guidance, and rulemaking that will likely require companies to disclose how these risks affect their bottom line.
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ArticleCongress passes bill forcing Chinese companies to comply with U.S. audit rules
In a bipartisan and unanimous vote, the House passed a bill Wednesday that could kick publicly traded Chinese-based companies off U.S. exchanges.
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ArticleWhy OCC ‘Fair Access’ proposed rule is a win-lose
How can true cooperation be achieved when the solution being proposed is essentially to pit high-risk, controversial banking customers against the banks with which they want to do business, wonders Jaclyn Jaeger.
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ArticlePCAOB to adopt SEC auditor independence updates
The Public Company Accounting Oversight Board will adopt amendments to its independence standards to align with recent updates initiated by the Securities and Exchange Commission.
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ArticleOCIE director’s warning: Insufficient CCO support won’t fly
In a year turned upside down by the coronavirus pandemic, one thing hasn’t changed in the eyes of the SEC: The best compliance programs are supported by senior management and have adequate staffing, technology, and training.
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ArticleOECD praises U.S. global anti-bribery enforcement efforts
In its 10-year check-in report, the Organisation for Economic Co-operation and Development lauded U.S. enforcement authorities for continuing to be at the forefront in the global fight against corruption and offered only minor suggestions for improvements.
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Analysis: With Clayton leaving, SEC likely to target financial institutions
SEC Chairman Jay Clayton will step down from his post at the end of the year, allowing the Biden administration to choose his successor immediately upon taking over the White House.
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ArticleEven with divided Congress, Wall Street should brace for Biden presidency
Should Republicans hold on to their majority in the Senate, President-elect Joe Biden could still find ways to pass sweeping economic legislation during his first term.
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ArticleSEC enforcement priorities under Biden: Reading the tea leaves
Careful consideration as to what new tone, direction, and priorities the SEC’s Division of Enforcement will take under Joe Biden can help you reduce compliance risk.
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ArticleMore data, more problems with FinCEN international transfer proposal?
A recent international wire transfer rule change proposed by U.S. regulators could go a long way toward combatting terrorist financing, but the increased transaction reporting may overwhelm an already taxed system, writes Martin Woods.
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ArticleCFPB under Biden will likely get new director, new direction
The Consumer Financial Protection Bureau is likely to revert to its more aggressive, Obama-era version of itself under a Biden administration.
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ArticleCalifornia voters approve creation of new state agency to enforce CCPA
California voters approved a ballot measure that will add new layers of responsibility for businesses attempting to comply with the state’s first-in-the-nation data privacy law, the California Consumer Privacy Act.
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ArticleCFTC guidance details path to reduced enforcement penalties
The CFTC issued guidance that spells out how companies that self-report violations, cooperate with investigators, and remediate their issues can qualify for a “substantially reduced penalty” on any subsequent enforcement action.
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ArticleOCC deems ‘true lenders’ responsible for actions of third-party partners
The Office of the Comptroller of the Currency’s finalized “true lender” rule clarifies how banks are responsible for the compliance obligations and actions of their third-party lending partners.
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ArticleU.K.’s SFO lays out expectations in new DPA guidance
The U.K. Serious Fraud Office has published its latest internal guidance on the threshold companies must meet before they are offered a deferred prosecution agreement.
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Training, conflict of interest early pain points of Reg BI compliance
Financial institutions complying with the SEC’s new Regulation Best Interest standard have particularly struggled with training staff and how to identify and eliminate potential conflicts of interest, regulators said during an online forum.
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ArticleBSA update proposal seeks more data on international transactions
FinCEN and the Federal Reserve Board have proposed lowering the threshold at which financial institutions must collect, retain, and transmit information on overseas transfers under the Bank Secrecy Act.