Regulatory Policy

Emissions measurement


Scope 3 emissions best practices: Be transparent, thorough


There is much companies can do—and must do, given upcoming regulatory requirements—to rein in Scope 3 emissions, sustainability expert Susan McNichols discussed at CW’s virtual ESG Summit.


News Brief

SEC adopts revised fund name requirements


The Securities and Exchange Commission adopted amendments to its rule covering fund names to ensure the regulation is appropriate to address new investment drivers, namely environmental, social, and governance matters.

GHG emissions


Experts: SEC or not, Scope 3 GHG disclosure requirements coming


The actions of companies like Amazon and new legislation passed in California prove it’s no longer a question of if companies will be required to disclose their greenhouse gas emissions—it’s a question of when, experts told attendees at CW’s virtual ESG Summit.


News Brief

PCAOB proposal increases stakes on auditor negligence


Rule amendments proposed by the Public Company Accounting Oversight Board would enable the agency to penalize individual auditors more easily when their conduct is deemed to have contributed to violations by their firms.

Small business costs

News Brief

FinCEN publishes beneficial ownership guidance for small businesses


Nearly three months from the effective date of its beneficial ownership reporting rule, the Financial Crimes Enforcement Network released guidance for small businesses to determine whether they must comply and what information they might be required to provide.



Experts: Lawsuit against SEC’s private fund rules unlikely to cause delay


A lawsuit filed by industry groups alleging the Securities and Exchange Commission overstepped its authority when it passed new rules for private fund advisers is unlikely to stop their implementation, according to experts.



CPPA eyeing broad scope in early discussions around data risk assessments


Draft risk assessment regulations under the California Consumer Privacy Act are designed to prohibit businesses from handling consumer data if uncontrolled risks—to the security and privacy of the consumer, the public, or the business—outweigh the benefits.

Richard Blumenthal


Big Tech wants AI ‘referee,’ but lawmakers differ on approach to regs


Federal lawmakers shined a spotlight on artificial intelligence this week, raising the possibility that Congress will—eventually—legislate some controls on the burgeoning technology should middle ground be found.



SEC’s Gensler mum on timing of climate rule, says ‘important issues’ around Scope 3 requirements


Gary Gensler, despite being put on the spot by a member of Congress, declined to provide an update on when the Securities and Exchange Commission might approve its climate-related disclosure rule for public companies.



Fallout from ‘debanking’ scandal suggests more U.K. bank reforms coming


The former CEO of NatWest’s decision to leak client details to the press regarding Nigel Farage is likely to cost the financial industry millions in new compliance checks as U.K. regulators prepare reviews into how banks treat people with extreme political views.

California skyline


California cybersecurity audit rule scope begins taking shape at CPPA meeting


A final version of California’s cybersecurity audit rules likely won’t be released until later next year at the earliest, according to a rough timeline discussed by the California Privacy Protection Agency.


News Brief

FDIC acknowledges supervisory lapses in First Republic Bank postmortem


Loss of confidence following the March collapses of Silicon Valley Bank and Signature Bank was the primary reason First Republic Bank failed in May, according to an internal review conducted by the Federal Deposit Insurance Corporation.

Digital currency


CFTC commissioner floats pilot program for digital asset markets


Commissioner Caroline Pham of the Commodity Futures Trading Commission proposed the agency develop a regulatory pilot program for digital asset markets where new initiatives could be introduced and refined.



Q&A: Lexmark sustainability chief on defying ESG criticism to ‘stay the course’


John Gagel, chief sustainability officer for Lexmark International, shares with Compliance Week why the private company tracks its greenhouse gas emissions and plans to comply with the climate-related disclosure rule proposed by the Securities and Exchange Commission.

US privacy


From 5 to 11: Keeping up with new state data privacy laws


If multi-state businesses thought at the start of 2023 complying with a patchwork of U.S. state privacy laws was going to be a lot of work, now they must be overwhelmed. Experts assess the fast-evolving U.S. privacy landscape.


News Brief

Switzerland floats AML reforms for beneficial ownership, legal advice


The Swiss government launched consultation proceedings on a series of reforms designed to combat money laundering and terrorist financing occurring within the country’s financial system.

NatWest Bank

News Brief

FCA to review treatment of U.K.-based PEPs


The Financial Conduct Authority announced the scope of its review into the treatment of U.K.-based politically exposed persons, the latest development in response to the Nigel Farage “debanking” scandal.


News Brief

FCPA opinion shines light on reasonable expenses for foreign officials


A Foreign Corrupt Practices Act review published by the Department of Justice offers further clarity around when the agency would determine expenses paid on behalf of a foreign official to be deemed “reasonable and bona fide.”



Large companies in crosshairs early under German Supply Chain Act


Amazon, IKEA, and Volkswagen were among the companies targeted in the first round of complaints under the German Supply Chain Due Diligence Act—an early indication nongovernmental organizations will seek to hold big businesses accountable for alleged human rights violations.

Swiss francs

News Brief

FINMA guidance calls out Swiss bank failings on AML risk analysis


Switzerland’s Financial Market Supervisory Authority published new guidance to improve banks’ money laundering risk analysis after repeatedly identifying shortcomings during on-site supervisory reviews.

Department of Labor

News Brief

Labor Department proposal seeks clarity for OSHA inspection reps


The Department of Labor issued a notice of proposed rulemaking to clarify regulations regarding authorized employee representatives during Occupational Safety and Health Administration compliance officer inspections.


News Brief

Banking reg proposals eye greater flexibility for FDIC amid failures


Federal banking regulators jointly issued new rule proposals and proposed guidance in continuing the push to shore up the U.S. regulatory system after a series of mid-sized bank failures earlier this year exposed apparent gaps.

British pounds


Expert views mixed on proposed U.K. AML reforms


Experts share differences of opinion over whether future anti-money laundering supervision in the United Kingdom should be industry specific and whether a single regulator would be more effective than multiple bodies.

Christy Goldsmith Romero


CFTC commissioner: Three ways to address climate-related financial risks


Christy Goldsmith Romero, a commissioner with the Commodity Futures Trading Commission, recommended three action items to help the agency and regulated entities “measure, understand, and address climate-related financial risk.”

SEC office


New SEC rules for private fund advisers will keep compliance teams busy


Even though compliance dates for the Securities and Exchange Commission’s new private fund rules are a year to 18 months away, compliance teams should start analyzing the impact now, according to experts.



Preparing for SEC cybersecurity rules an opportunity for collaboration


Businesses can prepare for the Securities and Exchange Commission’s upcoming cybersecurity disclosure rule by going through it and identifying key gaps in compliance.



SEC passes sweeping new rules for private fund advisers


The Securities and Exchange Commission passed a sweeping set of rules for the $26 trillion private fund industry designed to increase transparency and competition but with provisions that address industry concerns about potential overreach.

SEC office

News Brief

Fintech to pay $1M in first violation of SEC’s amended marketing rule


The Securities and Exchange Commission ordered Titan Global Capital Management USA to pay more than $1 million for allegedly misleading investors with hypothetical performance metrics in its advertising.


News Brief

SEC commissioners criticize order against transfer agent DST


The Securities and Exchange Commission’s two Republican commissioners dissented from an agency order against transfer agent DST Asset Manager Solutions they deemed to be an example of regulation by enforcement.



CFPB’s Chopra teases new rules for data brokers at White House roundtable


The Consumer Financial Protection Bureau is moving forward with plans to propose new rules for data brokers that would regulate their personal data gathering activities under the Fair Credit Reporting Act.

California flag

News Brief

CCPA first state privacy law deemed adequate by Dubai financial hub


The Dubai International Financial Centre announced the California Consumer Privacy Act passes muster, allowing compliant California businesses to be the first permitted to transfer data with the DIFC without additional contractual measures.

New York cyber-security

News Brief

N.Y. cyber strategy puts pressure on banks, energy sector


New York will closely monitor the cybersecurity protections in place at institutions in the financial and energy sectors as part of its first statewide cybersecurity strategy.



Oct 24 | Unprepared for SEC cyber disclosures? You can get through this

2023-08-04T20:47:00+01:00Provided by HALOCK Security Labs

Learn what cybersecurity strategy, governance, and risk management are and how to use an emerging definition for reasonable cybersecurity controls to help you define materiality.



Risks, opportunities under SEC’s cyber incident disclosure rule


The clock is ticking for public companies to put in place policies and practices to meet the requirements of the Securities and Exchange Commission’s newly approved cybersecurity incident disclosure rule.

Money laundering

News Brief

SEC risk alert flags staffing, policy weaknesses in AML compliance exams


Broker-dealers complying with anti-money laundering/countering the financing of terrorism requirements put forward by the SEC must be mindful of the resources they are providing for their programs during the current heightened risk environment.

Business argument


Pressure on DPAs to ensure success of GDPR cross-border proposal


Plans to speed up General Data Protection Regulation cases against the likes of Big Tech firms by improving cooperation among the European Union’s data regulators have been largely welcomed by experts.



Need to know: New York City AI bias law


Companies that use automated tools to screen candidates for jobs based in New York City must check those systems for bias or potentially run afoul of a first-in-the-nation law.

Wall Street

News Brief

Banking regs seek enhanced resilience with large bank capital reforms


The Federal Deposit Insurance Corporation, Federal Reserve Board, and Office of the Comptroller of the Currency proposed rulemaking designed to increase capital requirements for large banks and large-scale traders.

DOJ building

News Brief

Guidance sets self-disclosure expectations for sanctions, export control lapses


Companies seeking credit for voluntarily self-disclosing potential violations of sanctions or export control laws must be mindful of the regimes at play from agencies including the DOJ, BIS, and OFAC and their differing expectations.


News Brief

SEC adopts rule requiring cyber incident disclosures within four days


The Securities and Exchange Commission finalized its controversial rule requiring public companies to disclose the nature, scope, timing, and impact of cybersecurity incidents deemed to be material within four business days.

United Kingdom

News Brief

U.K. corporate governance reforms target resilience, fraud assessment


The United Kingdom introduced for debate corporate reporting reforms that would require the country’s largest companies to set out their risk management and resilience strategies as part of required annual reporting.

White House


Biden cyber strategy plan calls for big businesses to step up


The “biggest, most capable, and best-positioned” businesses must assume a greater share of mitigating cyber risks, the White House said in announcing the National Cybersecurity Strategy Implementation Plan.


News Brief

DOJ, FTC highlight core guidelines in draft merger guidance


New draft merger guidance put forward by the Department of Justice and Federal Trade Commission continues the agencies’ joint mission to modernize antitrust enforcement.



Experts: XRP ruling offers little clarity on crypto regulation


A judge’s ruling the token XRP does not intrinsically possess the characteristics of a security that must be registered with the Securities and Exchange Commission has not cleared the uncertainty that remains around the regulation of digital assets, according to experts.

CW2022 Kenneth Polite

News Brief

Criminal Division head Kenneth Polite to leave DOJ


Assistant Attorney General Kenneth Polite Jr. is set to leave the Department of Justice after a tenure highlighted by multiple policy changes intended to empower corporate chief compliance officers.

EU US privacy


Expert views mixed on viability of new EU-U.S. data transfer framework


The European Commission might have given a green light to the latest mechanism to allow safe data transfers between the European Union and the United States, but experts have mixed views regarding how long it will last and whether it is even legal.


News Brief

​FTC joins DOJ in rescinding healthcare antitrust guidance


The Federal Trade Commission announced the withdrawal of two antitrust policy statements the agency deemed “outdated.” The move puts the FTC in line with the Department of Justice, which announced a similar action earlier this year.

Business success


Survey: Investment adviser compliance ramps up testing on advertising, marketing


The most popular mock exams conducted by compliance professionals at investment adviser firms this year have been on the Securities and Exchange Commission’s advertising/marketing rule, according to a new poll.

Treasury Department

News Brief

OFAC head Andrea Gacki shifted to lead FinCEN


Treasury Secretary Janet Yellen announced the appointment of Andrea Gacki as director of the Financial Crimes Enforcement Network.

California skyline


California privacy reg delay offers little more than short reprieve


Many businesses are breathing a sigh of relief following a court ruling that delayed enforcement of certain provisions of the California Privacy Rights Act, but companies should not rest on their laurels, according to experts.