Regulatory Policy


Federal banking regs ease hemp reporting requirements


New interagency guidance issued this week brings good news for compliance officers of banking institutions with hemp-related customers.


Bill to combat robocalls passes House vote


A popular bill intended to crack down on illegal robocalls passed a House vote Wednesday with an overwhelming majority and might soon make its way to President Trump’s desk for final approval.

Roger Wicker

Republicans, Democrats spar over federal privacy bill


Republicans and Democrats have differing opinions on the rights and role of a federal privacy law, but both sides agreed at a Senate Commerce Committee hearing Wednesday the time to act is now.


Technology at center of Clayton-moderated discussion at SEC


“Message received,” SEC Chairman Jay Clayton said as panelists at his discussion on global macroeconomic trends emphasized how technology is affecting markets and why regulators must lead rather than follow.


New auditor reporting standards: What has changed


A closer look at new standards issued in May by the Auditing Standards Board will aid auditors in conferring with clients before 2020 reports arrive.


ICO draft guidance helps U.K. firms clarify AI choices


The U.K. Information Commissioner’s Office has released guidance that lays out four principles—based on the GDPR—companies must consider when applying AI to their systems.


Vestager once again takes aim at digital giants


Margrethe Vestager, European commissioner for competition, once again rallied against Big Tech in a Nov. 29 speech. The politician has promised more oversight of search engines, online marketplaces, social media networks, and app sites to ensure fair markets.


Senate Dems propose ‘clear as a bell’ U.S. privacy law


Senate Democrats have proposed a new federal data privacy bill that seeks to empower consumers and support their civil rights in the digital economy.


Corporate Enforcement Policy revisions impact FCPA disclosure


The Department of Justice this month made a few minor adjustments to its Corporate Enforcement Policy that are worth a closer look, as these changes could impact when compliance officers and corporate counsel decide to self-report a potential Foreign Corrupt Practices Act violation.


More companies pointing finger at proxy advisory firms


A new survey from the U.S. Chamber of Commerce and Nasdaq says the number of companies identifying conflicts of interest at proxy advisory firms has almost doubled.


Regulators wary of crypto as digital assets go mainstream


Federal agencies struggle to categorize digital coins as currency, securities, commodities, property, or something else—but even as they dither, some big companies strive forward in the digital assets arena.


‘Femtech’ wanders into uncharted regulatory territory


Applications that serve women’s health needs could soon be held to a higher standard of accountability for protecting users’ data if they become classified as “covered entities” under HIPAA.


House passes bill requiring disclosure of diversity on corporate boards


If enacted, legislation on corporate board diversity would require the SEC to work on strategies to increase gender, racial, and ethnic diversity on corporate boards.


U.S. consumers express unease over personal data collection


A recent survey says a majority of Americans don’t trust data privacy policies and procedures, even while U.S. companies are hastening to enhance them in advance of the California Consumer Privacy Act’s implementation.

GDPR panel

Regulators sympathetic to GDPR growing pains but expect maturity


Officials from a pair of EU data privacy sanctioning bodies stressed importance of data protection officers and good-faith efforts to comply with GDPR.


SEC’s Clayton pushes modernization at UPenn speech


Touting the SEC’s recent accomplishments, Chairman Jay Clayton maintains modernization helps advance the regulator’s “tripartite mission” and gives some hints about next year’s agenda.


ISS asks court to toss SEC proxy adviser guidance


In a lawsuit filed against the SEC, advisory firm ISS argues that, contrary to SEC opinion, proxy advice is not a solicitation under securities laws.

Supreme Court

U.S. Supreme Court to consider appropriateness of SEC disgorgement


A case examining the meaning of “disgorgement” and whether the SEC can obtain it via a court order could affect a practice the regulator has used for decades.


DOJ: Big Tech’s data collection creates ‘avenues for abuse’


The Department of Justice’s top antitrust official warns tech giants the government is being “extra vigilant” about sniffing out anticompetitive behavior deriving from mass data collection, mindful of its harmful effects on both users and competitors.


Justice Department creates Procurement Collusion Strike Force


The Department of Justice has announced the formation of the new Procurement Collusion Strike Force, which will focus on deterring, detecting, investigating, and prosecuting antitrust crimes.


SEC champions proposals to amend outdated proxy solicitation rules

2019-11-06T18:55:00+00:00By DeAnn Orie

SEC Chair Jay Clayton and Commissioner Elad Roisman, among others, convened a roundtable to explore proposals to proxy voting rules calling for consistent regulation across the markets and better disclosure of conflicts to clients.


FTC proposes five amendments to NIST Privacy Framework


The FTC has submitted comment on NIST’s draft Privacy Framework, praising the agency for its proposal to help firms open a privacy dialogue and suggesting five amendments to improve upon the draft.

Tech Spotlight

Seven takeaways: Privacy, Big Tech in spotlight at ICDPPC


The International Conference of Data Protection and Privacy Commissioners offered varying perspectives on the latest in data privacy and technology from the likes of regulators, experts, and campaigners.


House Financial Services Committee grills Facebook’s Zuckerberg


Wide-ranging questions target Libra, discriminatory housing ads, lack of diversity at Facebook, and whether Facebook’s CEO actually read the hearing packet the committee sent to him.


Bill to expose shell companies passes House vote


A proposed bill to crack down on anonymous shell companies passed a House of Representatives vote Tuesday and will progress to the Senate.

Boris Johnson

PM Boris Johnson forced to ask for Brexit delay


Confusion surrounds the latest on the Brexit front, with beleaguered PM Boris Johnson sending two contradictory letters to European leaders—one asking for a delay and the other suggesting they ignore this request.


Fourth time a charm? Senate again passes whistleblower protection bill


The U.S. Senate has once again passed an act to allow employees who believe they are the victim of retaliation to file a complaint with the Secretary of Labor and to be reinstated to their former status if the Secretary finds in their favor.


Big Tech, banking policymakers clash over cloud computing


The “move fast and break things” mantra of the tech world rubs up against a more rigid banking industry as the two find their way in the cloud—but is more legislation really necessary?


Sen. Wyden introduces ‘strongest-ever’ privacy bill


Sen. Ron Wyden (D-Ore.) has introduced an updated version of his previously drafted data privacy bill that threatens jail time for executives at corporations that misuse Americans’ data.


Congressman Cummings passes away

2019-10-17T15:35:00+01:00By Compliance Week

Rep. Elijah Cummings (D-Md.) died following complications concerning longstanding health challenges, his office announced. He was 68.

Federal Reserve

Fed rule tailors bank regulations to link requirements to risk


The Federal Reserve Board of Governors approved final rules that tailor its regulations for domestic and foreign banks to more closely link regulatory requirements to the institutions’ risk profiles.


SEC’s ‘test-the-waters’ rule could be boon for future IPOs


The SEC has adopted a rule that allows companies interested in potentially going public to gauge interests in IPOs, instead of just emerging growth companies covered under the current rule.


Agencies finalize changes to Volcker rule


Recently proposed amendments to the Volcker rule designed to simplify compliance requirements were finalized this week.


More foreign investments to be scrutinized under Treasury proposals


The Committee on Foreign Investment in the United States (CFIUS) will have a bigger role in assessing a deal’s impact on national security after two recent proposals by the Treasury Department.


OCC eases stress-testing requirements for banks


New OCC requirements mean national banks and federal savings associations with assets under $250 billion will no longer have to self-administer stress tests annually.


Upcoming regulatory events: SEC, DOJ, FASB, and more

2019-10-03T16:58:00+01:00By DeAnn Orie

Fall is a busy time for regulators across the compliance landscape. Take note of upcoming events, plus some early conference registration news.


Bill requiring shell companies to disclose ownership introduced in Senate


Aimed at fighting money laundering, newly proposed legislation looks to mandate full transparency from shell companies on ownership and also fosters greater communication between financial institutions and law enforcement agencies.


SEC modernizes rules on exchange-traded funds


Despite an effective date about a year out, regulated entities still need to make some decisions now about policies and procedures if they are relying on a new regulation applying to exchange-traded funds.


Understanding Canada’s new diversity disclosure requirements


Starting next year, Canadian companies will be required to disclose much more about their diversity efforts, including many who will have to do so for the very first time.


Proposed bill targets FASB rulemaking procedures


Rep. Blaine Luetkemeyer (R-Mo.) on Friday introduced a bill that would subject the Financial Accounting Standards Board to the rulemaking guidelines of federal financial regulators.


DOJ launches new process for filing documents under FARA


The Department of Justice recently announced a new online system for filing, storing, and searching registrations under the Foreign Agents Registration Act.

Boris Johnson

Parliament suspension ‘unlawful’ says U.K. Supreme Court


The U.K. Supreme Court unanimously ruled Boris Johnson’s decision to suspend Parliament unlawful, but it stopped short of suggesting the Prime Minister’s motive was to stymie further debate over the government’s Brexit plans.


House approves PCAOB whistleblower program


The U.S. House of Representatives has passed a bill to move the creation of a whistleblower program at the PCAOB forward. While some praised the development, others cautioned it’s a redundant and flawed measure.


FDIC paves way for rollback of initial swap margin requirements


The move to ditch the requirement that insured depository institutions collect initial margin from affiliates is being praised by regulators for bringing the U.S. into alignment with other countries and freeing up $39.4 billion in collateral.


SEC revisiting decades-old bank disclosure guide


The SEC is seeking public comment on proposed updates to statistical disclosures for bank and savings and loan registrants.


Last-minute CCPA changes strike business-friendly tone


Recently approved tweaks to California’s upcoming privacy law don’t change the fact compliance prep should already be well underway, experts say.


If feds find fraud using analytics, corporations better have found it first


Deputy Assistant Attorney General Matthew Miner put corporate compliance officers on notice with remarks about the feds’ increasing use of data analytics.


Dec. 12 | New DOJ guidance in your compliance program

2019-09-15T16:16:00+01:00Provided by

Webcast details: December 12, 2019 – 2 p.m. ET   |  CPE Credit(s): 1


FTC prioritizes guidance on application of antitrust laws to Big Tech


The Federal Trade Commission’s Office of Policy Planning is making the identification of Big Tech companies’ anticompetitive behavior and how to remedy it a top priority.


What banking CCOs need to know about new terrorist funding order


Impacted financial institutions, including cryptocurrency exchangers, may want to review know-your-customer policies and anti-money laundering compliance in light of President Trump’s executive order.