Regulatory Policy


Asia Pacific compliance: Five tips for practitioners based outside the region

2019-08-14T18:59:00+01:00By Mary Shirley

Communicating the variances of Asian regulatory policies could mean the difference between progress or failure. One of our former Top Minds offers companies five tips for avoiding a regulatory disaster within a multinational organization.


Regulatory events coming this fall

2019-08-12T20:57:00+01:00By DeAnn Orie

Check out information on upcoming events from such regulators as the PCAOB, FDIC, SEC, DOJ, and more.


A critical review of the SFO’s DPA process


Companies considering entering a deferred prosecution agreement with the U.K. Serious Fraud Office might instead want to take their chances with a trial following the outcomes of a trio of recent high-profile corruption cases.


SEC proposes to modernize Regulation S-K disclosures


The SEC is seeking comment on proposed amendments to modernize the description of business, legal proceedings, and risk factor disclosures that registrants are required to make under Regulation S-K.


SFO cooperation guidance provides clarity on leniency


In recent guidance, the SFO for the first time has formally set out expectations essential to U.S.-type deferred prosecution agreements, but some say the low number of companies accepting criminal responsibility may negate the provision’s worth.


House considers creating PCAOB whistleblower program


The House is considering a bill that would give the PCAOB a whistleblower system under Sarbanes-Oxley like the one operated by the SEC.


CFPB pitches mortgage rule change


The Consumer Financial Protection Bureau has issued a notice seeking information on the expiration of temporary qualified mortgage provisions.


Warren’s next battleground: private equity firms


Under newly filed legislation, The Stop Wall Street Looting Act, firms would share responsibility for the liabilities of companies under their control, including debt, legal judgments, and pension obligations.

Antitrust debate

Congress debates: Are tech giants bullies or saviors?


Amazon, Google, Facebook, and Apple were called before Congress this week to debate what critics perceive as the anti-competitive, entrepreneur-chilling effects they trigger with their size and scope.


Google, Amazon fire back: Rising tide lifts all boats


A common refrain—and effective defense—from tech companies at the House Judiciary hearing this week was that rather than stifling competition, their size and scope is responsible for a tide that raises all boats in their wake.


FINRA issues clarifying guidance on ‘extraordinary cooperation’ credit


The Financial Industry Regulatory Authority has issued supplemental guidance clarifying how companies and individuals that demonstrate “extraordinary cooperation” in investigations can receive enforcement credit.


Congress, Treasury take swings at Facebook’s Libra plan


A plan by Facebook to enter the world of virtual currency is attracting predictable skepticism in Washington. It could also expedite the slow emergence of national data protection laws.


Quality compliance can now earn antitrust leniency


A Justice Department policy change–to evaluate corporate compliance programs as a potential leniency factor on antitrust cases–has come to fruition through announcements made this week.

Facebook crypto

Fed Chair urges caution with Facebook virtual currency venture


Count Federal Reserve Chairman Jerome Powell and several members of Congress as concerned observers of Facebook’s planned foray into the world of virtual currency.


SEC’s Clayton emphatically defends Reg. BI


SEC Chairman Jay Clayton, speaking to an audience of financial professionals in Boston, vigorously defended Regulation Best Interest and came out swinging against critics.


Warren, Dems seek mandatory climate disclosures


Senator Elizabeth Warren (D-Mass.) has reintroduced the Climate Risk Disclosure Act, legislation that would require public companies to disclose their exposure to climate-related risks.


Agencies exclude community banks from the Volcker Rule


Five federal financial regulatory agencies announced this week they have adopted a final rule to exclude community banks from the Volcker Rule.


Regulatory events: What’s hot this summer!

2019-07-09T20:46:00+01:00By DeAnn Orie

Here’s a look at some upcoming events and training from regulators like the SEC, DOJ, and PCAOB.

SEC building

SEC shores up details on ‘short-termism’ roundtable


An upcoming SEC roundtable on July 18 will seek to identify potential market practices and regulatory changes that could encourage increased long-term strategies and investments.


SEC's Clayton reignites debate about pairing of enforcement, waivers


In a potential boon for businesses, SEC Chairman Jay Clayton says qualifications for waiver issuances may no longer be delayed due to lingering accusations of misconduct.


FDIC report: Five common consumer compliance issues


The FDIC recently issued the first edition of its “Consumer Compliance Supervisory Highlights” report, intended to enhance transparency around consumer compliance supervisory activities.


House moves to cut funding for SEC’s Regulation Best Interest


Joining the growing discontent with the SEC’s Regulation Best Interest, Democrats in the House of Representatives have passed legislation that could starve the quasi-fiduciary standard for investment advice of funding.

FedEx plane

FedEx sues Feds over export control burdens related to Huawei dispute


Shipping giant FedEx is suing the federal government in an effort to reverse what it says are impossible to achieve compliance burdens imposed by the Department of Commerce.


Global regulators strike against shady ‘manufactured credit events’


International regulators are joining forces to strike against what they deem as “opportunistic strategies” and “manufactured credit events” in the multi-trillion-dollar derivatives marketplace.

Data Harvest

Congress takes aim at Big Tech with new bills


Bills working through Congress would make it harder for tech companies to profit from consumer data and force them to better secure networked devices.

SEC building

Senate approves Lee nomination to SEC


The Senate has approved President Trump’s nomination of Allison Herren Lee, a former aide to Kara Stein, to a seat on the Securities and Exchange Commission.


SEC seeking comment on ways to harmonize private securities offering exemptions


The SEC is requesting public comment on ways to simplify, harmonize, and improve the exempt offering framework to expand investment opportunities while maintaining appropriate investor protections.


Congress shows new resolve to combat shell companies


The United States seems poised to finally tackle issues surrounding shell companies and their often-opaque beneficial ownership structures.

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Breaking up is dumb to do


Is splitting up big tech companies a cure for their outsized influence? Probably not.

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White paper: Global Regulatory Outlook – Are We There Yet?

2019-06-14T17:47:00+01:00Provided by

Following the 2008 financial crisis, regulatory compliance has come to play an ever-larger role in the lives of financial institutions. Regulatory requirements have become more complex and enforcement scrutiny has increased.


Antitrust argument the latest attempt to regulate Big Tech


Congress and presidential candidates alike are escalating their efforts to thwart the dominance of the tech giants.


States continue to fill federal data privacy void


While Congress largely remains mired in hearings and pre-election posturing, states are increasingly putting their own scrutiny on large tech companies and their data collection policies.


Bill demands ownership reveals for shell companies


The newly proposed ILLICIT CASH Act would, for the first time, require shell companies to disclose their true owners to the U.S. Department of Treasury.


Regulators globally still call for better audits


While encouraged by the trend in audit inspection results, global audit regulators report they are still seeing levels of audit deficiency that command continued focus on improvement.


Top Mind of Tomorrow: ‘Hope to pay it forward’

2019-06-10T14:06:00+01:00By Hannah Levine

Top Mind of Tomorrow Hannah Levine relays her experience at the recent CW annual conference.


New bill seeks to end regulatory stalemate with China


Bipartisan legislation proposes to increase oversight on China-based companies listed on U.S. exchanges and delist those that fail to comply in three years.

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White paper: Global Digital Communications Compliance for Regulated Industries

2019-06-05T19:28:00+01:00Provided by

Financial services, pharmaceuticals, healthcare, and energy are some of today’s most regulated industries. And their compliance risks have only grown as modern business evolves. And you must comply with new rules that govern email, the web, social media, and more.

best interest

SEC finally prevails with investment advice ‘best interest’ rule


The Securities and Exchange Commission has adopted rulemaking intended to enhance the quality and transparency of investor relationships with investment advisers and broker-dealers.


Policy change previewed by DOJ a tip of the cap to compliance


A change to the DOJ’s leniency program could be good news for companies that can demonstrate an effective compliance program.

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e-Book: Riding California’s Wave of Regulatory Developments

2019-06-03T15:22:00+01:00Provided by

California has not only been on the forefront of emerging technologies, it’s also been the most active state when it comes to regulating that new tech, especially when it comes to data privacy.


Not just blowing smoke: Time to take cannabis compliance seriously


As cannabis legalization spreads, so too do the risks and challenges for businesses.

SEC panel

SEC focus: Reduce burden while protecting investors


The SEC has stuck to its promise to focus on initiatives that can improve capital formation and lighten the regulatory burden.


SEC to hold roundtable on public marketplace


Coming this summer: An SEC roundtable for the public and SEC staff to discuss short-term and long-term management, the periodic reporting system, and SEC regulations.


Commerce unveils new attack on ‘currency manipulation’


The Department of Commerce has issued a notice of proposed rulemaking to impose countervailing duties on countries that act to undervalue their currency relative to the dollar.


Takeaways from Compliance Week 2019


The 14th annual Compliance Week conference is in the books, and with it more than 60 sessions filled with helpful anecdotes, shared best practices, career advice, and much, much more.


Happy birthday, GDPR: A look back at Year 1


As the EU’s General Data Protection Regulation celebrates its first “birthday,” an expert panel met at Compliance Week 2019 to share their experiences in prepping, implementing, and following up.


Claire McCusker Murray: Incentivizing corporate compliance at the DOJ


Justice Department Principal Deputy Associate Attorney General Claire McCusker Murray spoke at CW’s annual conference on how the agency’s Civil Division seeks to motivate compliance.


Companies House reforms to better protect U.K. companies from criminal activity


Companies House recently unveiled a substantial package of reforms that will do more to safeguard the personal data of business owners in an effort to offer U.K. companies greater protection from fraud.


GAO suggests supervisory improvements for bank regulators


Is there a better way for bank regulators to conduct their supervisory and remediation processes? Congress’ GAO developed a rundown of suggestions and best practices in a report released this week.


Major changes to California privacy law likely scuttled


An initiative to strengthen and enhance the California Consumer Privacy Act was basically left for dead in that state’s legislature.