- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2021-01-21T19:41:00
Commissioner Allison Herren Lee has assumed the role of acting chair at the Securities and Exchange Commission while President Joe Biden’s nomination to lead the agency, Gary Gensler, awaits Senate confirmation.
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If there were any doubts the SEC under the Biden administration will increase its expectations of public companies to assess and disclose climate change-related risks, they were laid to rest Wednesday.
The acting head of the Securities and Exchange Commission has expanded the number of staff authorized to issue a formal order of investigation, perhaps a sign the agency intends to launch more cases under President Joe Biden.
The acting chair of the Securities and Exchange Commission has created a new senior policy advisor position on climate change and ESG, another signal the agency will prioritize both areas under a Biden administration.
Financial institutions holding Russian sovereign assets that have not reported them to the Treasury Department’s Office of Foreign Assets Control are now required to do so by Aug. 2.
Compliance officers should take note of proposed laws in the U.K. with the newly elected Labor government setting the legislative agenda in the King’s Speech last week, promising consultations on enhanced employee rights and a higher minimum wage.
Four federal banking regulators have joined the Treasury Department’s Financial Crimes Enforcement Network in issuing a notice of proposed rulemaking that would require financial institutions to conduct more thorough risk assessments on their anti-money laundering/countering the financing of terrorism programs.
