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Compliance takeaways from the SEC’s new examination handbook
The SEC’s new exam handbook spells out what to expect at every stage, from the first call to the deficiency letter. Here’s how to prepare.
Why global investigation playbooks create local legal exposure in China
A standard U.S. investigation playbook doesn’t travel cleanly into China. Data ownership, cross-border transfer, and employment law all work differently there. The message from investigators on the ground: run it the way headquarters runs everywhere else, and the investigation itself becomes the liability.
Bank reports help FinCEN identify $270M in possible student aid schemes
Reports from banks and other financial institutions have helped identify about $270 million in federal aid funds linked to suspicious financial activity, the US Treasury Department said Monday.
China’s chemical compliance rules reach deeper into manufacturers’ supply chains
China’s chemical compliance landscape is moving into a broader phase. For companies that manufacture, import, distribute, or use chemicals in China, compliance is increasingly about more than substance registration, as recent developments tie registration to hazardous-chemical operations and supply-chain responsibility.
UK competition watchdog fines three companies $8 million for misleading sales claims and obscure pricing
The UK Competition and Markets Authority has fined three well-known businesses, including Wayfair and Appliances Direct, $8 million for using misleading sales tactics.
UAE expands AML/CFT regime with tougher penalties and wider sector reach
The UAE’s new AML/CFT law adds criminal offenses, harsher penalties, and new compliance duties for firms and individuals.
UK proposes new cross-regulatory, multi-agency approach to clamp down on money laundering
The UK government has published its anti-money laundering and asset recovery strategy, which sets out a multi-agency, cross-regulatory response to money laundering and criminal asset recovery over the next three years.
Banks entering crypto must close transaction monitoring gaps, experts say
Although the crypto industry’s legitimization took a hit on Sept. 15 when the CLARITY Act failed to advance in the Senate, the industry still exists, and banks must find ways to remain in regulatory compliance.
‘Rogue’ AI raises liability and insurance questions for developers and deployers
Insurance companies anticipate multi-million-dollar claims if AI developers are sued over AI wrongdoing. Recent examples of AI autonomously hacking third-party systems and evading controls have increased concern about liability cases for both developers and deployers.
UK backs SFO proposal to reward whistleblowers to curb economic crimes
The UK has called for feedback on plans to reform its whistleblowing laws so that people who come forward with information that leads to a corporate conviction can be financially rewarded, as in the US.
OCC report on ‘debanking’ at nine largest US banks claims reputation risk policies result in denial of services
A report by the Office of the Comptroller of the Currency (OCC) finds that the nine largest US banks it oversees have used reputation risk policies to deny services to businesses and individuals based on social, political, and religious views as well as lawful banking activities.
Securing AI systems from cyber threats is a top priority, according to PwC’s Global Digital Trust Insights Survey
Cyber threats against AI systems are a top threat that business and security leaders say they feel least prepared to address, according to PwC’s 2027 Global Digital Trust Insights survey.
BoA pays $1.21B for AML lapses and alleged sanctions violations
The US Treasury Department announced $1.21 billion in penalties against Bank of America for its lapses in anti-money laundering and alleged sanctions violations, and warned that enforcement of AML rules and federal Bank Secrecy Act compliance is a top priority.
UK financial regulator proposes economy-linked regulatory threshold to cut firms’ compliance costs
The UK’s financial services supervisor wants to scrap “nominal” regulatory thresholds to make compliance costs “proportionate” and prevent more financial firms from falling under rules simply because they have grown in size rather than risk.
CFPB targets debanking practices after OCC report
After an Office of the Comptroller of the Currency report found the nine largest national banks maintained debanking policies, the Consumer Financial Protection Bureau is taking action against them in one of its few moves under the current Trump administration.
Former Wamco co-chief investment officer would pay $3M to resolve allegations of cherry-picking
Stephen Kenneth Leech II, a former co-chief investment officer at Western Asset Management Company (Wamco), has agreed to pay $3 million to settle allegations he steered hundreds of millions to certain portfolios.
Boards put AI investments at risk due to lack of knowledge and skills, PwC survey finds
Companies risk wasting their AI investments because boards don’t rate the information underpinning the strategy and directors don’t understand how the technology works or creates value.
Compliance must counter rising third-party financial crime risks with risk-based, integrated due diligence
Third-party risks around financial crime are accelerating and becoming more complex. Evolving sanctions rules, a renewed focus in the EU and UK on money laundering, bribery and corruption, and the UK’s Failure to Prevent Fraud criminal offense all put the onus on companies to understand exactly who their third parties are, who is behind them,…
American Express hit with $350M penalty for lax BSA/AML compliance program
The Office of the Comptroller of the Currency and the U.S. Federal Reserve Board (FRB) each took enforcement action against American Express for deficiencies in its Bank Secrecy Act/anti-money laundering compliance program.
Companies responsible for decisions made by ‘autonomous’ AI, says ICO
The UK’s data regulator has issued a strong warning that companies remain responsible for protecting personal data when they use AI systems, even when the technology acts autonomously.
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