The United Kingdom’s Financial Conduct Authority is rolling out a series of regulations intended to crack down on inaccurate environmental, social, and governance (ESG) related claims, known as greenwashing, by providers of investment products to retail investors. The FCA’s measures include putting in place new sustainability disclosure requirements and an Read More
Binance Holdings, which operates the world’s largest cryptocurrency exchange, Binance.com, has pleaded guilty and has agreed to pay over $4 billion to resolve the Justice Department’s investigation into violations related to the Bank Secrecy Act (BSA), failure to register as a money transmitting business, and the International Emergency Economic Powers Read More
A Los Angeles jury convicted two corporate executives on November 16 of conspiracy and failure to report information related to defective residential dehumidifiers that had been linked to multiple fires. Simon Chu, 68, of Chino Hills, California, and Charley Loh, 65, of Arcadia, California, were convicted of conspiracy to defraud Read More
The rapid advancement of artificial intelligence (AI) has ushered in an era of unprecedented technological transformation, promising to revolutionize industries, enhance human capabilities, and reshape the very fabric of society. As with any transformative force, though, AI also presents a range of challenges and ethical concerns that demand careful consideration Read More
GUEST BLOG POST The Securities and Exchange Commission closed out its fiscal year with an announcement of charges against 10 firms in their capacity as broker-dealers and one registered broker-dealer and investment adviser for their failure to comply with the Books and Records requirements of the Federal Securities Laws. These Read More
The U.S. Department of Health and Human Services announced a $100,000 settlement with Doctors’ Management Services for failures to determine the potential risks and vulnerabilities to electronic protected health information after a cyberattack exposed the information of more than 200,000 patients. It is notable in that it is the first Read More
The Securities and Exchange Commission announced charges against Austin, Texas-based software company SolarWinds and its chief information security officer, Timothy G. Brown, for fraud and internal control failures relating to allegedly known cybersecurity risks and vulnerabilities. The complaint alleges that, from at least its October 2018 initial public offering through Read More
The Federal Trade Commission has altered its data security rule, known as the Safeguards Rule, to require nonbank financial firms—including mortgage brokers, auto dealers, and payday lenders—to report data breaches to the agency, according to an announcement made Friday. The FTC’s Safeguards Rule requires non-banking financial institutions, such as mortgage brokers, Read More
Health care companies are increasingly falling victim to sophisticated hacking efforts—including ransomware attacks—insider threats, and basic security flaws despite the highly confidential nature of patient data. According to new research by Atlas VPN, a virtual private network provider, 87 million patients in the United States had their personal information improperly Read More
The Securities and Exchange Commission has released its 2024 examination priorities to alert companies of the areas that the Examination Division plans to focus on in the upcoming year. This year’s examinations will prioritize areas that pose emerging risks to investors or the markets in addition to core and perennial Read More
