- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2019-12-19T19:33:00
A popular bill intended to crack down on illegal robocalls has passed House and Senate votes with overwhelming majorities and will soon make its way to President Trump’s desk for final approval.
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The Federal Communications Commission is seeking a $225 million fine—the largest proposed penalty in its 86-year history—against a health insurance telemarketer for allegedly making approximately one billion illegally spoofed robocalls.
The FCC has escalated its war against robocallers by proposing new rules banning illegal spoofed text messages and international calls. There is also a renewed threat of regulation and enforcement against phone companies that fail to deploy effective caller ID authentication plans.
Newly proposed legislation is making the rounds of the Senate in an effort to strike against unwanted telephone solicitations.
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.
