Regulatory Policy


FTC

FTC marks revived ‘prior approval’ merger stance with proposed limits on DaVita

2021-10-26T19:52:00+01:00By

The Federal Trade Commission proposed 10-year acquisition restrictions on dialysis service provider DaVita under the agency’s newly reinstated “prior approval” policy aimed at curbing anticompetitive mergers.

Executive clawbacks

SEC executive pay clawback rule primed for ‘significant opposition’

2021-10-25T21:05:00+01:00By

The SEC is poised to pass an executive compensation rule that would require public companies to claw back incentive-based compensation if their finances are restated within the previous three years. Experts expect pushback to the proposed mandate.

3x2 web graphic

Compliance Week National Conference is going back in person in May

2021-10-25T12:00:00+01:00By

Mark your calendars: Compliance Week’s National Conference in Washington, D.C. will be held in person for the first time in nearly three years from May 16-18, 2022.

Climate

FSOC report: Climate change ‘increasing threat’ to U.S. financial stability

2021-10-22T19:23:00+01:00By

In a report ordered by President Joe Biden, the Financial Stability Oversight Council urged market participants, public companies, and regulators to develop a common agenda to respond to climate change-related financial risk.

Data privacy

Global Privacy Assembly takeaways: ‘Time to get real’ on cross-border cooperation

2021-10-21T18:02:00+01:00By

Privacy regulators believe there must be a push toward greater international cooperation and enforcement if failure to ensure data protection is to be taken as seriously as other corporate offenses.

U.S. sanctions

Treasury issues 5 recommendations for modernizing U.S. sanctions

2021-10-19T16:49:00+01:00By

The U.S. Department of the Treasury issued a series of recommendations as to how to “adapt and modernize” the government’s use of sanctions to enhance their effectiveness in supporting national security objectives.

Stocks on phone

SEC investor advocate: ‘Gamification’ exposes holes in Reg BI

2021-10-14T16:16:00+01:00By

SEC Investor Advocate Rick Fleming said online platforms designed to make stock trading more easily accessible and exciting “expose what may be a significant flaw in Reg BI” regarding unsolicited transactions.

Crypto

SEC commissioners clash on cryptocurrency securities debate

2021-10-13T17:56:00+01:00By

SEC Commissioners Caroline Crenshaw and Hester Peirce used recent speeches to stake opposite sides on the central debate of whether all cryptocurrencies are securities.

Whistle

Late surge expected to comply with EU Whistleblowing Directive

2021-10-12T15:26:00+01:00By

European companies are expected to rush to comply with new whistleblower protection rules only when they take effect in December, meaning workers are not adequately protected for any disclosures they make in the meantime.

eigentech 300x200

CPE Webcast: Technology best practices to future-proof your regulatory compliance strategy

2021-10-12T11:00:00+01:00Provided by

Organizations are facing both increased regulation and increased volumes of organizational data, making it ever more challenging to ensure they can stay compliant as new regulations take effect.

FTC seal

Senators waiving white flag on privacy law with request to FTC?

2021-10-06T22:06:00+01:00By

The request by a group of prominent Democratic senators that the Federal Trade Commission launch rulemaking on data privacy signals Congress is not close to passing a federal law anytime soon, experts say.

California

California privacy agency names executive director

2021-10-05T17:24:00+01:00By

The nation’s first state data privacy agency has selected former FTC Chief Technologist Ashkan Soltani to serve as its executive director overseeing enforcement and rulemaking of the CCPA and, eventually, the CPRA.

Rohit Chopra

Rohit Chopra confirmed as CFPB director; more dominoes to follow?

2021-10-01T15:20:00+01:00By

The Senate confirmed Rohit Chopra to be the next director of the Consumer Financial Protection Bureau with a party-line vote. Lawmakers will soon shift their attention to his replacement at the Federal Trade Commission.

SECBooks

SEC seeks to implement Dodd-Frank provision on executive compensation votes

2021-09-30T18:14:00+01:00By

The SEC has proposed rulemaking that would enact a provision of the Dodd-Frank Act requiring mutual fund managers to disclose how they voted on proxy proposals, including on compensation agreements with company executives.

Compliance steps

New SEC marketing rule offers opportunities, compliance challenges

2021-09-28T17:36:00+01:00By

The SEC’s new marketing rule allows certain types of advertising, endorsements, and testimonials that were previously prohibited. Investment advisers are “excited” about the new possibilities—but compliance officers must warn them of the risks.

Cybersecurity Best Practices for the Compliance Practitioner

Introducing: Cybersecurity training customized for compliance

2021-09-28T13:31:00+01:00By Darren R. Hayes, CW Cybersecurity Course Author

The professor who created CW’s first-ever self-directed learning module explains what compliance practitioners can expect to get out of the course—and why it’s an essential tool in an evolving cyber-risk landscape.

cybersecurity

On-demand training: Protect your company from cyber risks

2021-09-28T10:01:00+01:00

Take this self-directed, interactive course to deepen your understanding of cybersecurity risks and learn about the latest regulations to keep your organization compliant and prepared for today’s dangerous cyber-environment.

Image Analyzer_3x2_UK-Paper-AdCarousel

White paper: The UK Online Safety Bill & EU Digital Services Act – Are You in Scope?

2021-09-27T08:33:00+01:00Provided by

The UK Online Safety Bill will legally oblige online service providers to swiftly remove illegal and harmful content. The UK Office of Communications (Ofcom), will be empowered to fine non-compliant organizations up to 10 percent of their qualifying revenue.

Climate globe

SEC offers guidance on climate change disclosure shortcomings

2021-09-24T20:30:00+01:00By

A sample letter released by the Securities and Exchange Commission this week lays out common mistakes firms make with their climate change disclosures.

OCC

Biden’s pick to head OCC favors tighter regulation of FinTech

2021-09-24T20:02:00+01:00By

President Joe Biden’s nominee for Comptroller of the Currency, Cornell law professor Saule Omarova, continues a Democratic pattern of choosing potential regulators who believe in stricter control of the markets.

Coinbase

With approach to Coinbase, SEC shows its hand on cryptocurrency

2021-09-21T13:37:00+01:00By

By reacting to Coinbase’s now-scrapped Lend program proposal with a Wells Notice, the SEC sent a message that cryptocurrency companies should not expect the agency to bend to their will.

FTC

FTC withdraws 2020 vertical merger guidelines. Will DOJ follow suit?

2021-09-16T18:19:00+01:00By

The Federal Trade Commission voted to withdraw 2020 guidelines for vertical mergers for including what three Democratic commissioners described as “unsound economic theories that are unsupported by the law or market realities.”

Jean Rogers

Own your ESG materiality strategy, advises SASB founder

2021-09-14T16:11:00+01:00By

Jean Rogers advised companies not to rely on regulators and organization frameworks over internal expertise when it comes to determining ESG materiality as part of her keynote at CW’s “Everything ESG” virtual event.

Rostin Behnam

Biden nominates 3 to CFTC, including Rostin Behnam as chair

2021-09-14T12:56:00+01:00By

President Joe Biden announced the nomination of three individuals to serve as commissioners at the Commodity Futures Trading Commission, including the naming of Rostin Behnam as the agency’s full-time chair.

Betty Huber

With SEC rulemaking imminent, ESG disclosure prep takes center stage

2021-09-13T18:17:00+01:00By

A deluge of SEC rulemaking on ESG matters could begin as early as next month, prompting Davis Polk’s Betty Moy Huber to kick off CW’s “Everything ESG” virtual event with an overarching message on the importance of preparation.

Dan Berkovitz

Dan Berkovitz departure to leave CFTC with 2 commissioners

2021-09-09T19:29:00+01:00By

The Commodity Futures Trading Commission will soon be down to two members with Democratic Commissioner Dan Berkovitz set to depart next month.

FTC

FTC tees up withdrawing vertical merger guidelines

2021-09-09T19:00:00+01:00By

The Federal Trade Commission, led by new chair Lina Khan, might withdraw its vertical merger guidelines finalized only last year at an upcoming open commission meeting.

Business list

Survey: New SEC marketing rule leads investment adviser compliance concerns

2021-09-08T19:51:00+01:00By

Implementing the SEC’s new “marketing rule” for investment advisers tops the list of concerns among chief compliance officers in the industry, according to new research.

FDA

Compliance takeaways from FDA’s final ‘intended use’ rule

2021-09-07T19:08:00+01:00By

The U.S. Food and Drug Administration’s “intended use” final rule reaffirms the agency’s wide latitude of discretion in establishing an off-label use case against pharmaceutical and medical device companies.

UK privacy

U.K. signals divergence from GDPR with new data transfer approach

2021-09-01T15:44:00+01:00By

The United Kingdom announced plans to strike independent data adequacy decisions with key countries—including the United States—as part of its post-Brexit economic strategy.

Robinhood

SEC seeking info on risks, rewards of digital engagement practices

2021-08-31T18:33:00+01:00By

The SEC launched its first foray against risks posed by stock trading platforms like Robinhood with a request for information about how digital engagement practices affect the investment strategies of retail investors.

China data

Preparing for China’s new GDPR-like data privacy law

2021-08-31T13:25:00+01:00By

China is set to enact a tough data privacy law that mirrors the EU’s General Data Protection Regulation in content but likely will be more strictly enforced, experts say.

Treasury Department

Challenge to SEC’s Bank Secrecy Act authority backed by ex-FinCEN leadership

2021-08-24T15:21:00+01:00By

A brokerage firm petitioning the Supreme Court to review the power of the SEC to enforce the Bank Secrecy Act has received support from two former officials of the primary agency tasked with overseeing the AML law.

CFTC

CFTC due for shakeup with Brian Quintenz set to depart

2021-08-20T15:21:00+01:00By

The Commodity Futures Trading Commission will soon be down to three active commissioners, as Brian Quintenz announced he will depart the regulator at the end of the month.

Zoom

Hamburg DPA warns Zoom incompatible with GDPR

2021-08-19T16:24:00+01:00By

The Hamburg data protection authority has warned local government departments to stop using Zoom because it believes the videoconferencing app is not compliant with the General Data Protection Regulation.

FINRA

FINRA notice outlines key areas for supervising third parties

2021-08-17T15:40:00+01:00By

The Financial Industry Regulatory Authority issued a notice on compliance deficiencies arising from firms’ relationships with vendors culled from examination findings.

Cryptocurrency wallet

Experts: Gary Gensler and the SEC are coming after cryptocurrencies

2021-08-16T20:40:00+01:00By

Many in the cryptocurrency space would prefer Gary Gensler and the SEC leave the sector to function without much regulation, but experts predict he’ll take a heavy-handed approach.

Nasdaq

SEC approval of Nasdaq board diversity proposal adds to nationwide momentum

2021-08-10T16:16:00+01:00By

The SEC approved rule changes proposed by Nasdaq that will put in place a new board diversity mandate and further require companies listed on Nasdaq’s U.S. exchange to make public disclosures regarding the composition of their boards.

European Commission

EU guidance seeks to clarify role of AML/CFT compliance officers

2021-08-04T16:38:00+01:00By

The European Banking Authority is seeking comment on new draft guidelines that set clear expectations regarding the appointment, role, tasks, and responsibilities of anti-money laundering and countering the financing of terrorism compliance officers.

Treasury

Acting FinCEN head to step down; new search underway

2021-08-04T15:31:00+01:00By

The Treasury Department has launched a public search for a new permanent director of the Financial Crimes Enforcement Network after the acting head of the agency announced his intentions to step down.

Whistleblower

SEC to revisit Trump-era whistleblower changes

2021-08-03T17:30:00+01:00By

The Securities and Exchange Commission will review two Trump-era changes to the agency’s whistleblower program, with an eye toward encouraging individuals to report wrongdoing.

China scrutiny

SEC seeks more risk disclosures from China-based companies

2021-08-02T19:27:00+01:00By

The SEC will require China-based public companies listed on U.S. exchanges to make more disclosures about the financial risks posed by potential interference in their operations by the Chinese government.

Whistleblowers

Proposed bill seeks to broaden False Claims Act whistleblower protections

2021-07-27T16:12:00+01:00By

A bipartisan bill before Congress proposes tweaking the False Claims Act to extend anti-retaliation protections for whistleblowers who are not formally employed by the company or organization on which they blew the whistle.

ESGReporting

What companies (and the SEC) can learn from U.K. ESG reporting guidance

2021-07-26T16:39:00+01:00By

The U.K. Financial Reporting Council has proposed a series of measures from which companies—as well as other regulators like the SEC—could benefit as ESG disclosures receive closer scrutiny.

FTC Building

FTC vote reverses longtime ‘prior approval’ stance for mergers

2021-07-22T16:22:00+01:00By

The Federal Trade Commission voted to rescind a 1995 policy statement that allowed certain firms taking part in a merger to skirt prior approval requirements.

AML Euros

New agency Europe’s latest hope to curb AML struggles

2021-07-22T13:06:00+01:00By

The European Commission unveiled new plans to set up an agency specifically aimed at tackling the region’s spiraling problems with money laundering.

FTC

House passes bill to restore FTC’s disgorgement authority

2021-07-21T17:08:00+01:00By

The Federal Trade Commission will have its power to seek disgorgement of ill-gotten gains restored, if a bill that passed the House becomes law.

AI regulation

The debate over AI: Regulate the tech or its use?

2021-07-16T18:04:00+01:00By

Recent comments by Facebook’s top executive in charge of developing AI reignite the debate over whether regulators should be more focused on reining in the technology itself or just the way it is used.

Julia Brncic

Q&A: Cigna’s approach to SEC human capital disclosure requirements

2021-07-16T13:41:00+01:00By

Julia Brncic, senior vice president, chief counsel and corporate secretary at Cigna, shares how the global health insurance company is complying with new human capital disclosure requirements in Regulation S-K.

Bankatrisk

New bank guidance expands on advice for handling third parties

2021-07-14T20:10:00+01:00By

Three federal banking regulators are seeking public input on the first comprehensive update to risk management guidance for financial institutions entering into business relationships with third parties since 2013.