Regulatory Policy


News Brief

OCC emphasizes compliance’s role in FI’s operational resiliency


Compliance departments at financial institutions must become more involved in ensuring their firm’s operational resiliency to address emerging risks, the Treasury Department’s Office of the Comptroller of the Currency said in its semi-annual risk perspective.


News Brief

Correction: CFTC awards whistleblower $8M despite involvement in misconduct


A whistleblower received an $8 million award from the Commodity Futures Trading Commission for uncovering fraud—even though the agency deemed the whistleblower was culpable in the misconduct.

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CPE Webcast: Mastering data governance for regulatory compliance

2024-06-20T14:00:00+01:00Provided by

The world of regulatory compliance is complex and ever-changing. While compliance demands vary by industry and where you have operations, there are underlying similarities to those requirements.

Financial Crimes 2024 Stage shot


SEC, CFTC actively probe off-channel comms violations, top officials say


Two senior officials from the Securities and Exchange Commission and Commodity Futures Trading Commission described how both agencies are committed to rooting out off-channel communications among registered entities for the long term.


Basic Page

Vermont governor vetoes privacy bill, legislature plans override vote


Vermont Republican Gov. Phil Scott vetoed a data privacy bill approved by the state’s Democrat-led legislature, which plans an override vote this week.

SEC building

News Brief

Former SEC Chair William Donaldson dead at 93


William Donaldson, a former chairman of the Securities and Exchange Commission, died Tuesday. He was 93.

Christy Goldsmith Romero

News Brief

​Biden nominates CFTC’s Goldsmith Romero to head FDIC


President Joe Biden selected a commissioner at the Commodity Futures Trading Commission as his preferred choice to lead the Federal Deposit Insurance Corporation in the aftermath of its toxic workplace culture scandal.

Financial Crimes 2024 Axelrod


BIS’s Axelrod makes plea to financial services: ‘We want to work with you’


Matthew Axelrod, assistant secretary for export enforcement at the Bureau of Industry and Security, addressed efforts to reach financial services firms, working with the Financial Crimes Enforcement Network, and more during his fireside chat at CW’s Financial Crimes Summit.

Financial Crimes 2024 Pham


CFTC’s Pham critical of agency stances on CCO liability, self-disclosure credit


Caroline Pham, a commissioner at the Commodity Futures Trading Commission, said compliance officers have a lot to worry about if they or their firms are subject to CFTC enforcement during her fireside chat at CW’s Financial Crimes Summit.

Accounting trends

News Brief

PCAOB Chair Williams appointed to second term


Erica Williams was reappointed to a second term as chair of the Public Company Accounting Oversight Board after an ambitious first three years in the role that have seen the agency work to update many of its standards deemed outdated.

Artificial intelligence


OCC’s Hsu encourages banks to apply guardrails to AI use


Warning of an “eventual reckoning” on artificial intelligence use by financial institutions, the acting head of the Office of the Comptroller of the Currency said the industry should learn lessons on how similar disruptive technologies evolved from being helpful to dangerous.

Texas Capitol

News Brief

​Texas touts team ‘among the largest in the country’ to enforce privacy laws


The state of Texas forecasted “aggressive enforcement” of its upcoming data privacy law with the announcement of a dedicated team to oversee its implementation.

SEC headquarters

News Brief

‘Why us?’ SEC lists reasons it conducts examinations of broker-dealers


A risk alert from the Securities and Exchange Commission listed top reasons why a registered broker-dealer might be the subject of an examination.


News Brief

EU agencies examine efforts to identify and monitor examples of greenwashing


The European Securities and Markets Authority, European Banking Authority, and European Insurance and Occupational Pensions Authority issued reports on greenwashing in the financial sector, describing how they plan to call out examples of false or misleading sustainability claims.

London Financial District


Reignited calls to tighten up AML in London, crown dependencies


Despite repeated interventions, fines, and negative publicity, money laundering is rife in U.K. financial services firms, according to Deputy Foreign Secretary Andrew Mitchell.

SEC building


Court overturns SEC private fund adviser rule, calls out agency overreach


A federal appeals court struck down the Securities and Exchange Commission’s private fund adviser rule, agreeing with industry advocates that the agency overstepped its authority.

Whistle question


What to watch for as DOJ whistleblower program sprint ends


The Department of Justice’s 90-day sprint to developing and implementing a pilot whistleblower rewards program ended Wednesday, and many questions remain about what the program will entail.

CFPB logo

News Brief

CFPB to require nonbanks to register outside enforcement orders


The Consumer Financial Protection Bureau passed a new rule requiring nonbank financial companies to register consumer protection orders filed against them by other federal agencies, courts, or states.


News Brief

EEOC latest regulator to name AI chief


The Equal Employment Opportunity Commission announced the appointment of an officer overseeing the use of artificial intelligence, becoming the latest agency to create the role called for in a President Joe Biden executive order.

Business data


Big Tech data for finance: Will FCA plans set trend?


Plans in the United Kingdom to share Big Tech data with financial services firms could prompt other industry regulators to follow suit or result in “unintended consequences” that see Meta, Google, and others growing market share.



Podcast: SEC Commissioner Hester Peirce on regulatory demands, CCO input


Compliance Week’s Aaron Nicodemus sat down for an exclusive chat with SEC Commissioner Hester Peirce covering the flood of new regulation emanating from the agency, stresses on compliance at smaller firms, CCO liability, and more.



Kanter says DOJ adapting antitrust enforcement for AI


The Department of Justice’s Antitrust Division is examining how its policies and enforcement mechanisms are suited to handle potential issues brought about by the proliferation of use of artificial intelligence.

London dark


Experts express skepticism toward ‘challenging’ SFO strategy


The U.K. Serious Fraud Office last month published its five-year strategic plan outlining how it intends to improve information gathering and international cooperation, as well as its enforcement record.

Bank BW


OCC’s Hsu advocates requiring mid-sized banks create ‘robust’ recovery plans


Acting Comptroller of the Currency Michael Hsu said he favors requiring more mid-sized U.S. banks to conduct the same rigorous recovery planning as the largest banks, part of a lesson learned from the collapse of three mid-sized banks in 2023.

GHG emissions

News Brief

Treasury, other agencies issue voluntary carbon market principles


The Treasury Department and other U.S. agencies announced a coordinated federal policy concerning carbon credits and other voluntary incentives to encourage businesses and agriculture to cut their carbon footprints.

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Lifetime Achievement: Compliance lessons from a ‘Flea’


Felecia “Flea” Bowers, honored for Lifetime Achievement at the 2024 Excellence in Compliance Awards, shares advice for compliance professionals at every stage of their careers.

Whistleblower vector


​Debate: Experts discuss pros, cons of whistleblower process


Compliance Week Advisory Board members Eric Young and Ellen Hunt participate in a debate-style discussion regarding whistleblower-related topics including culture of compliance, monetary incentives, retaliation, and more.


News Brief

​SEC official clarifies material incident reporting under new cyber rule


Erik Gerding, director of the Securities and Exchange Commission’s Division of Corporation Finance, issued a statement addressing early inconsistencies observed under the agency’s new cybersecurity incident disclosure rule.

Water system

News Brief

EPA warns of increased cybersecurity scrutiny toward water systems


The Environmental Protection Agency is increasing its inspections of public drinking water systems after finding a majority of those reviewed were vulnerable to cyberattacks and related threats.

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News Brief

FDIC chair to resign following report on toxic workplace culture


Martin Gruenberg announced he will step down as chairman of the Federal Deposit Insurance Corporation following the release of an independent review that criticized the agency’s lack of response to employee claims of sexual harassment and discrimination.

Colorado capitol

News Brief

Colorado passes landmark AI discrimination law


Colorado passed the nation’s first comprehensive artificial intelligence protection law, aimed at curbing discrimination against the public that could result from the technology’s use while still allowing AI entrepreneurship to flourish.



California privacy reg seeking more input on new rules


Businesses will receive additional time to weigh in on proposed regulations by the California Privacy Protection Agency regarding risk assessments, cybersecurity audits, automated decision-making, and data broker registration before they’re potentially finalized later this year.

ESG money

News Brief

ESMA guidelines tackle greenwashing via fund names


The European Securities and Markets Authority published its final report containing guidance for the use of environmental, social, and governance- and sustainability-related terminology in fund names.

Blockchain concept


Fed governor: Regs should engage with industry on safe DLT use in banking


Federal Reserve Board Governor Michelle Bowman argued banking regulators should move from their current reactive posture on banking innovation to a position that actively encourages new technologies, business models, and ideas to solve age-old problems.


News Brief

Treasury says closing AML regulation loopholes top priority


The Treasury Department’s efforts to eliminate regulation loopholes that help enable money laundering in the U.S. financial system will remain a top priority as part of the agency’s 2024 national illicit finance strategy.

White House

News Brief

White House unveils AI workplace principles; Senate group roadmaps AI policy


Microsoft and Indeed stepped up to adopt new artificial intelligence principles put forth by President Joe Biden, while leading senators took a step toward crafting AI legislation.


News Brief

Supreme Court rules CFPB funding structure constitutional


The Supreme Court rejected a claim that the Consumer Financial Protection Bureau’s funding mechanism is unconstitutional, removing a legal challenge that had the potential to overturn all the agency’s regulations and enforcement actions.


News Brief

SEC amends Reg S-P to require data breach notification within 30 days


The Securities and Exchange Commission will require broker-dealers and registered investment advisers to adopt written policies and procedures for handling data breaches of customer data and notify affected customers within 30 days.



FDIC culture scandal begs question: Why don’t regs have CCOs?


Regulators and government agencies often speak to the value of empowered corporate compliance programs to advancing their mission. Why not practice what they preach by empowering compliance among their own ranks?

FTC seal


FTC staff lay out compliance steps for noncompete ban


Staff at the Federal Trade Commission offered several steps businesses can take to comply with the agency’s upcoming ban on employee noncompete clauses.

New York cyber-security

News Brief

NYDFS offers cyber rule compliance template for small businesses


The New York State Department of Financial Services issued guidance for small businesses attempting to comply with its cybersecurity regulations.


News Brief

PCAOB reestablishes its fundamentals with new standards


The Public Company Accounting Oversight Board adopted two new standards that address key audit areas upon which it was relying on benchmarks established more than 20 years ago.

Cybersecurity icons


Survey: Public companies fear added cyber risks from SEC disclosures


Large public companies say they are prepared to comply with the disclosure requirements of the SEC’s new cybersecurity incident rule, according to a survey conducted by Compliance Week and DLA Piper, but concerns exist that those reports could enhance the threat of future cyberattacks.

SEC office

News Brief

SEC, FinCEN propose customer ID program for investment advisers


The Securities and Exchange Commission and Financial Crimes Enforcement Network proposed a rule requiring registered investment advisers to implement customer identification programs, another facet of a coordinated attempt to close an apparent loophole in federal AML regulations.

Real estate accounting

News Brief

FSOC warns on liquidity risk by nonbank mortgage servicers


A new report by the Financial Stability Oversight Council recommended state regulators and Congress take steps to minimize “significant liquidity risk” posed by the nonbank mortgage servicing industry.

DOJ building

News Brief

DOJ launches task force on anticompetitive practices in healthcare


The Department of Justice’s Antitrust Division created a new task force to examine collusion and monopolies in the healthcare industry.

Federal Reserve

News Brief

Fed-led climate scenario analysis highlights data gaps, insurance costs


The Federal Reserve Board and six large American banks released the results of a pilot climate scenario analysis that explored how resilient the banks’ business models were to climate-related financial risks.



Five reasons I’m excited for CW’s Financial Crimes Summit


Compliance Week’s Financial Crimes and Regulatory Compliance Summit will feature more than 50 prominent speakers representing government agencies, regulators, banks, investment advisers, and more tackling the top-of-mind risk areas facing the financial services industry.

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Virtual Roundtable: Whistleblowing in 2024: What compliance officers need to know


Compliance Week is hosting a virtual roundtable in which we’ll explore the modern whistleblower landscape and what corporate compliance programs need to know to follow the rules while enabling a speak-up culture.

Bank BW

News Brief

Regs move forward Dodd-Frank rule on risk considerations in bank exec pay


Federal regulators adopted a notice of proposed rulemaking on incentive-based compensation requiring large banks to make their executive compensation arrangements “more sensitive to risk.”