Regulatory Policy

DOJ building

News Brief

DOJ appoints first chief AI officer


On the heels of a warning by the deputy attorney general that the agency will seek stiffer penalties in cases involving the misuse of artificial intelligence, the Department of Justice announced Jonathan Mayer as its first chief AI officer.

Silicon Valley Bank


Fed upping supervisory pressure as SVB collapse nears 1-year mark


Since the failure of Silicon Valley Bank nearly one year ago, the Federal Reserve Board has revamped its supervisory procedures to respond more quickly and forcefully once it identifies emerging risks at mid-sized and large banks, according to the agency’s vice chair for supervision.

GDPR EU flag


Public consultation on GDPR opens door for changes


Feedback from a European Commission consultation on the six years of enforcement of the General Data Protection Regulation could result in tweaks to the rules and potential changes to the way data protection authorities enforce them.

caseiq 300x200


Virtual Roundtable: What to make of new DOJ corporate enforcement priorities

2024-02-20T13:00:00+00:00Provided by CaseIQ

Compliance Week is hosting a virtual roundtable during which experts will break down recent policy changes at the Department of Justice and what they mean for corporate compliance programs.

James Levey 3x2


Q&A: ManpowerGroup compliance director on CSRD prep efforts


James Levey, compliance director at global recruitment agency ManpowerGroup, discusses with Compliance Week his focus on preparing the group’s European operations to gather the data required for compliance with the EU’s Corporate Sustainability Reporting Directive.

Treasury Department


FinCEN head: Agency seeking to educate, not punish, BOI reporters


The Financial Crimes Enforcement Network will focus its attention regarding compliance with its new beneficial ownership reporting requirements on education and outreach during the first year of implementation, although “willful violations” will still merit punishment.

Board table


U.K. governance code revisions: Boards lead on culture, audit supports


Corporate culture, internal controls, and assurance moved up the boardroom agenda with the publication of the U.K.’s revised corporate governance code and its supporting guidance.

Treasury Department


FinCEN to propose applying BSA requirements to investment advisers


The Financial Crimes Enforcement Network will propose categorizing investment advisers as financial institutions that must comply with the Bank Secrecy Act, including having an anti-money laundering program.



Experts: SCOTUS ruling shifts onus to employers in whistleblower cases


The Supreme Court’s unanimous decision to reaffirm whistleblower protections under the Sarbanes-Oxley Act in a case involving UBS has wide ramifications in many other industries beyond financial services, according to legal experts.

Supreme Court

News Brief

SCOTUS reaffirms whistleblower protections in ruling against UBS


The Supreme Court reaffirmed whistleblower protections guaranteed under the Sarbanes-Oxley Act in a unanimous decision expected to set a precedent that impacts all corporate internal reporting cases.

Employee monitoring


The blurred lines of employee monitoring under GDPR


The French data regulator’s fine against an Amazon warehouse manager for violating employees’ rights to privacy in the workplace once again raises questions about what constitutes an overzealous approach to employee monitoring and why companies fail to recognize the signs.


News Brief

SEC, CFTC adopt rule for enhanced large hedge fund disclosures


Large hedge fund advisers will be required to disclose more information on their investment strategies, investment exposure, operations, and more as part of a rule change jointly adopted by the Securities and Exchange Commission and Commodity Futures Trading Commission.

Treasury Department


Anti-fraud groups praise FinCEN AML proposal for real estate transactions


The Financial Crimes Enforcement Network issued a notice of proposed rulemaking that would require the handlers of all-cash residential real estate transactions in all U.S. cities and counties to disclose the beneficial owners.

Data privacy


Compliance with growing number of U.S. privacy laws ‘a matter of culture change’


Different deadlines associated with the 13 U.S. state privacy laws currently on the books, including grace periods and enforcement dates, have proven challenging for compliance, experts discussed at CW’s Cyber Risk & Data Privacy Summit.

Data breach


Experts: Good data breach response grounded in preparation


Two chief compliance officers and an attorney discussed preparation for the “when, not if” threat of a data breach during a panel at CW’s Cyber Risk & Data Privacy Summit.

Richard Brasher 3x2


Q&A: LKQ sustainability VP on importance of environmental data


Richard Brasher, vice-president of sustainability at multinational automotive parts company LKQ Corp., discusses with Compliance Week his view on the added attention sustainability initiatives are receiving and where improvement remains.

Meta Platforms


Meta’s ‘pay or consent’ model to force GDPR to adapt?


Experts weigh in on Meta’s plans to charge EU users monthly if they do not want to be tracked for online advertising and what the ramifications of the model would mean for the future of the General Data Protection Regulation.

California AG

News Brief

Business groups sue to halt California climate disclosure laws


A coalition of business groups filed a lawsuit opposing two California laws that require large businesses to make climate-related disclosures, calling it a fight against illegal and excessive government overreach.


News Brief

OCC proposes stricter review process for bank mergers


The Office of the Comptroller of the Currency proposed eliminating expedited or streamlined reviews of mergers for national banks and federal savings associations.

Cyber locks


Consultation opens debate on proposed U.K. cyber governance code


Cybercrime is regularly cited as a leading concern for executives, yet board oversight of cyber risks is often inadequate and governance poorly understood, according to the authors of a proposed U.K. code of practice on cybersecurity governance.


News Brief

DOJ, FTC re-emphasize requirement to retain business communications


The Department of Justice and Federal Trade Commission updated language contained in standard preservation letters regarding the maintaining of business communications made via collaboration tools and ephemeral messaging apps.

CFTC building

News Brief

CFTC seeking comment on applications of AI in compliance


The Commodity Futures Trading Commission would like to learn more about how regulated entities might be using artificial intelligence in their compliance efforts, along with other applications.

Credit Suisse sign


FINMA eyeing more power over banks. Will it make a difference?


Bonus clawbacks, more fines, and a senior management regime that clearly identifies individual executives’ responsibilities for key governance areas are all options being considered by the Swiss Financial Market Supervisory Authority in response to the collapse of Credit Suisse.


News Brief

ICO seeking input on generative AI to inform guidance


The U.K. Information Commissioner’s Office is seeking input from developers, users, and those interested in generative artificial intelligence to help inform policy and guidance regarding the technology.

Crypto coins

News Brief

FINRA report highlights crypto communication violations


The Financial Industry Regulatory Authority announced it uncovered potential violations of its disclosure rules in 70 percent of crypto asset communications reviewed during a targeted exam.

London cityscape

News Brief

FRC ups board responsibilities in corporate governance code revisions


The Financial Reporting Council held back on the latest round of updates to the U.K.’s corporate governance code, as the country remains wary of pushing away businesses and investors.

NYC skyline

News Brief

NYDFS: Banks must vet execs, including CCOs, ‘not just upon hiring’


The New York State Department of Financial Services released final guidance on how banks and non-depository financial institutions should vet executives, including chief compliance officers, before and during their employment.

Bitcoin business


SEC-approved spot bitcoin ETFs come with unique compliance risks


The Securities and Exchange Commission’s approval of spot bitcoin exchange-traded funds will provide investors with the same access to bitcoin, bought for cash on the spot market, as they currently have to other investments—for better or worse.

The Pensions Regulator


Mixed reactions to new U.K. pensions code of practice


Lawyers and accountants in the United Kingdom have welcomed the publication of The Pensions Regulator’s new pensions code of practice but warned it might not improve the management of those that are not already well run.


News Brief

VF discloses data breach impacted 35.5M customers


Apparel company VF Corp., the owner of brands including The North Face, Vans, and Timberland, disclosed its estimation approximately 35.5 million customers had their personal data stolen as part of a cybersecurity incident it uncovered in December.

European Union

News Brief

EU nearing tighter AML rules for crypto, luxury traders


The European Union moved closer to finalizing rules that would expand current anti-money laundering and customer due diligence obligations to new sectors, in addition to granting greater powers to national financial intelligence units.

London Stock Exchange


U.K. push for more listings to lower bar on governance?


Moves by the U.K.’s financial regulatory body to encourage companies to list in London might fail to deliver or send mixed messages about the value placed on corporate governance, according to experts.

FTC building


FTC ‘click to cancel’ proposal harmful to businesses, companies argue


A proposed “click to cancel” rule by the Federal Trade Commission is not necessary, too broad, and would harm mom-and-pop companies, according to business allies and trade groups.


News Brief

NYDFS proposes AI use guidance for insurers


The New York State Department of Financial Services issued for public comment guidance for insurers operating in the state regarding their use of artificial intelligence systems and other predictive technologies.

Euro money laundering


AMLA impact dependent on national collaboration


The impact of the Anti-Money Laundering Authority to improve the coordination and success of AML activities will be largely indirect, depending on its influence over European national governments continuing to supervise most EU financial services firms.



Disclosure rules not enough to curb U.K. salary gaps


The issue of “fat cat” pay awards was reignited in the United Kingdom after a think tank found a typical FTSE 100 CEO earned the average annual salary for a full-time worker after just four days into the new year.


News Brief

SEC risk alert flags observed deficiencies at security-based swap dealers


A new risk alert from the Securities and Exchange Commission highlighted common deficiencies and weaknesses in the compliance programs of security-based swap dealers.

Whistle - dark

News Brief

SDNY launches whistleblower pilot program


The U.S. Attorney’s Office for the Southern District of New York took its efforts to encourage voluntary self-disclosure a step further with the launch of a whistleblower pilot program for individuals involved in nonviolent offenses.



CPPA preview: Cybersecurity audit regs nearing formal proposal


Companies with business in California could face tough new cybersecurity mandates under draft regulations that could be headed for formal rulemaking as soon as Friday.

FINRA New York

News Brief

FINRA report: Exam trends on off-channel comms, crypto, cybersecurity


A new report from the Financial Industry Regulatory Authority provides observations from examiners on emerging issues affecting the industry, including surveilling potential use of off-channel communications by employees, crypto-asset developments, cybersecurity trends, and more.



Ten things I’d like to see happen in 2024


Election years in the United States, United Kingdom, and at European Parliament, along with ongoing geopolitical tensions, make 2024 difficult to predict—aside from the expectation compliance officers will be busy.

Questions raised


Need to know: FinCEN beneficial ownership information reporting


Many reporting companies are still unsure whether their organization is required to file beneficial ownership information with the Financial Crimes Enforcement Network or are completely unaware of the new requirements. For those with questions, we have answers.

Facial recognition


Ethical compliance for facial recognition technology

2024-01-04T14:30:00+00:00By Manorama Kulkarni, CW guest columnist

The lack of clear regulations and guidelines for the ethical use of facial recognition technology further exacerbates concerns of discriminatory practices and potential infringements on human rights.

Mark Uyeda 3x2

News Brief

SEC’s Uyeda sworn in for second commissioner term


The Securities and Exchange Commission announced Mark Uyeda will serve a second term as commissioner through 2028.


News Brief

​CMMC implementation plan takes shape in proposed rule


The Department of Defense released for comment a proposed rule setting guidelines for implementation of the Cybersecurity Maturity Model Certification program.

Climate globe

News Brief

NYDFS issues guidance for responding to climate-related risks


The New York State Department of Financial Services issued guidance to regulated banking and lending institutions on managing material financial and operational risks related to climate change.

ESG regulations


Compliance with CSRD, CS3D, national laws an EU balancing act


Companies could be in danger of failing to comply with a raft of social responsibility-minded legislation at the European Union and national level because they might mistakenly think duties on corporates overlap when they do not.


News Brief

​FinCEN sets access rules for beneficial ownership registry


The Financial Crimes Enforcement Network made several changes suggested by commenters to a new rule allowing limited access to its beneficial ownership information registry.


News Brief

CFTC names chief data officer to boost analytic capabilities


The Commodity Futures Trading Commission announced two appointments to its Division of Data designed to help the agency leverage analytics and emerging technologies to improve its policymaking and oversight efforts.

Child Privacy

News Brief

FTC seeking comment on proposed COPPA enhancements


The Federal Trade Commission issued a notice of proposed rulemaking to strengthen data security requirements and modernize certain aspects of the Children’s Online Privacy Protection Act Rule.