The Financial Crimes Enforcement Network has proposed a plan to issue AML guidance every two years to encourage financial institutions to align their Bank Secrecy Act compliance programs with the agency’s enforcement priorities.
A nearly 200-page report on managing climate risk in the U.S. financial system is comprehensively assembled by a group spearheaded by CFTC Commissioner Rostin Behnam, but the real work comes in its implementation.
As the state home to nearly 70 percent of Fortune 500 companies, the Delaware Department of Justice’s Memorandum of Understanding with OFAC represents a significant milestone for U.S. sanctions enforcement.
Like the Department of Justice before it, the Commodity Futures Trading Commission has issued guidance to companies on how it will evaluate compliance programs in connection with enforcement matters.
The Swiss Federal Data Protection and Information Commissioner believes the Swiss-U.S. Privacy Shield “does not provide an adequate level of protection for data transfer from Switzerland to the US.”
The European Commission this week warned there will be “no quick fix” to replace the now-invalidated Privacy Shield, which governed data transfers between the European Union and United Sates.
Silicon Valley’s social media heavyweights deserve a nod for “war-gaming” potential misinformation scenarios in advance of November’s elections, while McDonald’s again finds itself on our “Not Lovin’ It” list.
California wants to create its own state consumer finance protection agency because the federal Consumer Financial Protection Bureau is in “retreat,” Democratic Gov. Gavin Newsom says.
The U.K. Financial Conduct Authority seeks comment on a new proposal that would widen the scope of its annual financial crime reporting obligations to include firms whose regulated activities potentially pose a higher money laundering risk.
The SEC had scheduled a Sept. 2 vote on controversial changes to its whistleblower program that, if passed, could weaken the agency’s prohibition of retaliation against whistleblowers and limit large rewards. The meeting has been canceled.
It appears Europe’s data authorities are prepared to interpret a key court judgement as they see fit in the absence of definitive guidance from the bloc’s primary privacy regulator.
In an attempt to end the stalemate over audits of publicly traded Chinese companies listed on U.S. exchanges, China has reportedly proposed to allow U.S. regulators to conduct a trial joint inspection of a state-owned enterprise.
In a split decision, the Securities and Exchange Commission has loosened requirements public companies must follow when they describe risk factors and legal proceedings in their financial statements.
Rule changes proposed by the SEC seek to limit the amount of personally identifiable information required in data submitted to the Consolidated Audit Trail and for public company filings.
A new office within the Antitrust Division will be tasked with monitoring corporate compliance initiatives connected with DOJ antitrust judgments, as well as evaluating whistleblower complaints regarding those judgments.
The Securities and Exchange Commission named Marc Berger deputy director of the Division of Enforcement, also promoting Richard Best to take over for Berger as director of the New York Regional Office.
There’s no questioning the need to protect the data of U.S. citizens from China, but it’s naïve to think pressuring TikTok to take up a U.S. owner is anything more than a hollow victory given our lack of federal oversight in the area of privacy.
The Department of Justice last week issued its first FCPA opinion procedure in six years. Experts weigh in on the ruling, the gap between opinions, and more.
The Securities and Exchange Commission has a female majority board with the swearing in of Commissioners Caroline Crenshaw and Hester Peirce.
Two strikes and you’re out, say four federal agencies to repeat violators of Bank Secrecy Act/anti-money laundering compliance requirements.
Despite a recent court ruling to scrap the EU-U.S. Privacy Shield, the program is apparently still alive and well in the United States. It’s time to move on, writes Aaron Nicodemus.
Complying with provisions of the California Consumer Privacy Act continues to be difficult for many companies, according to a new survey from Compliance Week and OpenText.
The Canadian Securities Administrators has published guidance that effectively gives registered firms in Canada more flexibility in satisfying chief compliance officer staffing requirements through three optional models.
If you are an employer hoping Congress will pass a “coronavirus liability shield” bill to help your company deflect COVID-19 lawsuits, consider this: No such “shield” will do much good unless you’ve already taken action to create a safe workplace.
As the fallout from the demise of the Privacy Shield continues to play out, here are a handful of steps companies can take to protect themselves from potential GDPR violations when transferring data between the European Union and the United States.
Sen. Chuck Grassley (R-Iowa) is working on legislation that would amend the False Claims Act in a way he says would strengthen the law’s core purpose of helping whistleblowers shine the light on wrongdoing and fraud.
Acting Justice Department Criminal Division head Brian Rabbitt shares his perspective on recent updates to the Evaluation of Corporate Compliance Programs guidance, the FCPA Resource Guide, and more.
The Securities and Exchange Commission announced the creation of a new division designed to bolster compliance with securities laws among firms working with the agency’s regional offices.
The legal and financial burden for companies to comply with the recent ruling to invalidate the EU-U.S. Privacy Shield might actually be worse than first thought, if an FAQ from the European Data Protection Board is any indication.
In a pair of split votes that fell along party lines, the Commodity Futures Trading Commission approved rules on swap dealers that complete rulemaking ordered by the Dodd-Frank Act, enacted a decade ago.
The Office of the Comptroller of the Currency has proposed a rule meant to eliminate ambiguity in federal banking regulations regarding loans made by national banks and their third-party partners.
In a surprise decision that will have a major impact on trans-Atlantic data transfers, Europe’s top court ruled Thursday that a mechanism used by thousands of companies to send data to the United States is unlawful.
The Securities and Exchange Commission has proposed raising the threshold at which small institutional investment managers must file quarterly reports with the agency.
The Supreme Court agreed to hear a case that will decide whether the FTC can seek to recoup funds unlawfully obtained by individuals and companies resulting from violations of consumer protection laws.
The first update to the SEC and Justice Department’s FCPA Resource Guide since it was published in 2012 includes several clarifications intended to benefit chief compliance officers and in-house counsel.
So, your company has decided to embark on an update of its legacy Know Your Customer system. Hear from experts on how to begin the process of onboarding that tech to the regulators.
The FRC hopes its demand that the Big Four isolate their audit units from their other businesses by 2024 will improve their ethical behavior … but some are skeptical.
The Environmental Protection Agency has revised its temporary—and controversial—enforcement discretion policy regarding environmental legal obligations during the coronavirus pandemic, establishing an end date of Aug. 31.
The FTC and DOJ jointly issued long-awaited vertical merger guidelines that will replace decades-old parameters to more accurately represent the agencies’ merger review process.
Data privacy is about to become a more tangible concept to Americans not due to regulation like the CCPA, but because the most influential brand in the nation is making it a pillar of how it does business.
The U.S. Department of Labor announced the proposal of a new exemption for investment advice fiduciaries designed to replace retirement-focused fiduciary rules made invalid two years ago.
The U.S. Supreme Court ruled the CFPB’s single-director structure violates the separation of powers between the executive and legislative branches and is unconstitutional.
A bill with bipartisan Congressional support proposes to create a national cyber-security czar who would report directly to the president.
A risk alert issued recently by the SEC examines disclosure deficiencies by investment advisors managing private funds.
Despite pushback from some regulators and Democrats in Congress, the newest Volcker rule update will allow banks—in certain circumstances—to invest or sponsor hedge funds and private equity funds.
What will enforcement of the California Consumer Privacy Act look like at first? Experts offer their take, in addition to providing guidance for companies still not in compliance with the landmark legislation.
A draft privacy bill from Sen. Sherrod Brown (D-Ohio) would require companies seeking to collect sensitive personal data to receive a “certification of compliance” from a newly created independent agency.
The FTC says it would consider creating three new units to pursue privacy enforcement investigations if Congress would increase its full-time employee headcount.
The Consumer Financial Protection Bureau has launched a pilot advisory opinion program that allows companies seeking to comply with its regulations to submit questions on areas of uncertainty.
SEC Chairman Jay Clayton will be in for the fight of his life to secure a nomination to become the next U.S. Attorney for the Southern District of New York.