- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2022-12-08T13:00:00
The Securities and Exchange Commission (SEC) has a historically ambitious list of new rules under consideration heading into 2023.
Proposals regarding climate-related disclosures; cybersecurity breach notifications; and environmental, social, and governance (ESG) claims by investment advisers remain unfinalized. SEC Chair Gary Gensler, who has been outspoken in his belief most cryptocurrencies are likely securities, will bring his expertise on the subject to the table as Congress and other regulators seek to determine how to oversee the turbulent industry.
Meanwhile, a variety of factors—including legal challenges to controversial rules and a Republican takeover of the House—could place significant roadblocks in the way of the SEC’s agenda.
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Goldman Sachs Asset Management agreed to pay $4 million to settle SEC charges it failed to follow its own policies and procedures regarding a trio of investment products marketed for their environmental, social, and governance considerations.
The 18-month probationary period for the new Securities and Exchange Commission marketing rule for investment advisers has expired and compliance with the rule is now mandatory.
Respondents to a Compliance Week/CohnReznick survey assessing readiness for the SEC’s climate-related disclosure mandate aren’t waiting to see how the proposed rule plays out before getting their compliance house in order.
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.
