Category: Articles

SEC Cyber Reporting

SEC’s Cyber-Rule Enforcement a Prime Worry for Compliance

According to a 2024 Cybersecurity Benchmarking Survey, 45 percent of surveyed compliance personnel from asset management, investment adviser and private market firms have expressed concerns about how the Securities and Exchange Commission (SEC) will enforce its newly developed cybersecurity rules.  The ACA Group and National Society of Compliance Professionals released Read More

Is AI a ticking time bomb?

Anticipating a Scandal: Is AI a Ticking Time Bomb for Companies?

In recent times it seems that a corporate scandal is now an everyday occurrence and something which is far too frequent. The causes of a corporate scandal are also far too predictable: failures in corporate governance, poor risk management, compliance failures, unreliable intelligence, inadequate security, insufficient resilience, ineffective controls, and Read More

EU Passes World’s First Comprehensive AI Law

The European Parliament approved the Artificial Intelligence Act (AIA), a regulation aimed at ensuring safety and compliance with fundamental rights, while boosting innovation within the artificial intelligence (AI) context. AIA, which is set take effect in increments over the next few years, ultimately establishes obligations for AI based on its Read More

DOJ

DoJ Secures $2.7 Billion Through False Claim Act Actions In 2023

The U.S. Department of Justice (DoJ) announced that it obtained more than $2.68 billion in settlement and judgements under the False Claims Act. The government and whistleblowers were party to 543 settlements and judgments, the highest number of settlements and judgments in a single year. Recoveries since 1986, when Congress Read More

From Wikimedia https://commons.wikimedia.org/wiki/File:Financial_Conduct_Authority_logo.svg

FCA Announces Its Pledge to Enhance Efficiency in Enforcing Cases.

The Financial Conduct Authority (FCA) announced that it is now committed to carrying out enforcement cases more quickly as the organization seeks to increase the deterrent impact of its enforcement actions. The FCA is a private financial regulatory body in the United Kingdom (UK). The Authority’s purpose is to regulate Read More

Boeing 737 MAX

Boeing Pays U.S Department of State $51 million for Export Violations

Boeing has agreed to pay $51 million in a settlement with the U.S Department of State (DoS) to resolve around 200 violations of the Arms Control Act and the International Traffic in Arms Regulations (ITAR). The DoS and Boeing reached this settlement following an extensive compliance review by the Office Read More

SEC Climate Change Rules

SEC Pulls Back on Climate Disclosure in Final Version of the Rules

The Securities and Exchange Commission voted to finalize its rules on climate-change disclosures titled,  “The Enhancement and Standardization of Climate-Related Disclosures for Investors.” In an about face that the SEC began signaling last month, the Commission cut key provisions from the proposal, including a requirement to disclose Scope 3 emissions, Read More

Goldman Sachs Building

FINRA Fines Goldman Sachs For Trade-Monitoring Failures

The Financial Industry Regulatory Authority (FINRA) recently announced that it has fined Goldman Sachs for not properly monitoring trades ranging from 2009 to 2023. The banking giant has agreed to pay around $500,000 in order to settle these claims, but did not admit or deny any of FINRA’s findings. According Read More

Social Media Influencer

Van Eck Settles SEC Claim Over Undisclosed Social Influencer Involvement

The Securities and Exchange Commission (SEC) announced that registered investment adviser Van Eck Associates has agreed to pay a $1.75 million to settle charges that it failed to disclose a social media influencer’s role in the launch of an exchange-traded fund (ETF) in 2021. According to the SEC’s order, in Read More

FinCEN logo

FinCEN Addresses Beneficial Ownership Reporting For Small Businesses

The head of the U. S’s Financial Crimes Enforcement Network (FinCEN) announced during a congressional hearing that the Network isn’t adopting a “gotcha” approach to enforcing compliance with the new regulations on reporting beneficial ownership information (BOI) by companies. Since implementing the Anti-Money Laundering Act of 2020, FinCEN’s highest priority Read More