The Consumer Financial Protection Bureau has signaled its intention to reissue a proposed rule on small business lending data collection. This shift comes after the agency had previously defended the original rule against legal challenges while under the Biden administration. This rule—commonly referred to as Small Business Lending Under the Read More
Whole Foods announced that it has settled a class-action lawsuit claiming that company manipulated an employee bonus program which resulted in lower payouts to its employees. The settlement comes almost 10 years after the allegations were brought against the grocery chain giant. The original lawsuit alleged that multiple Whole Food Read More
Deutsche Bank’s asset-management arm DWS Group agreed to a fine of 25 million euros, or $27 million to the Frankfurt Public Prosecutor’s office to settle allegations of greenwashing. The allegations were brought by Frankfurt prosecutors after its investigation into the firm’s environmental and social investing credentials. Greenwashing is when a Read More
Nasdaq proposed a change in its initial listing requirements for small companies that wish to conduct an initial public offerings. This change would effectively harden its listing standards, making it more difficult for smaller companies to list on the Nasdaq. According to the new rule, Nasdaq will require that companies Read More
The Securities and Exchange Commission announced, in a letter to the Eighth Circuit court, that it has voted to no longer defend rules requiring companies to disclose climate-related risks, greenhouse gas emissions, and their impact on business operations. The original rules requiring sch disclosure was adopted last year under the Read More
The Financial Industry Regulatory Authority announced that it fined broker-dealer United First Partners (UFP) and suspended its chief compliance officer for allegedly failing to implement an adequate supervisory system designed to supervise the firm’s outside brokerage accounts. UFP’s primary business is providing brokerage and research services to institutional customers. As Read More
The Office of the Comptroller of the Currency announced that it will no longer examine banks for reputation risk and is removing references to reputation risk from its Comptroller’s Handbook booklets and guidance issuances. This move comes at a time in which the OCC has received complaints about the examination’s Read More
Securities and Exchange Commission Chair Mark Uyeda announced the implementation of a “blueprint” designed to slow the Commission’s rulemaking process while improving cost efficiency. Such a “blueprint” entails longer comment periods as well as the rejection and reduction of rules proposed under the leadership of former SEC chair, Gary Gensler. Read More
President Trump fired two Democratic commissioners, Alvaro Bedoya and Rebecca Slaughter, from the Federal Trade Commission, a move that reflects his broader effort to assert control over administrative agencies and reshape the federal government. Trump’s firing has mainly come under question due to the 110-year-old precedential case of Humphrey’s Executor Read More
The Public Company Accounting Oversight Board announced that PricewaterhouseCoopers Singapore agreed to pay $1.5 million for violations of PCAOB rules and quality control standards. The violations arose from the Firm’s failure to have appropriate policies and procedures over its Personal Independence Compliance Testing (PICT) process and to foster an appropriate ethical Read More
