In a unanimous vote, the Senate confirmed Democrat Jaime Lizárraga and Republican Mark Uyeda this week to serve as the Securities and Exchange Commission’s newest Commissioners. President Joe Biden nominated the two as Commissioners in April. Lizárraga served most recently as a senior advisor to House Speaker Nancy Pelosi, (D-Calif.). Uyeda is Read More
The Securities and Exchange Commission announced it has reopened the comment period on proposed rules related to listing standards for “recovery of erroneously awarded compensation,” known as “clawback rules.” In July 2015, the SEC proposed rules to implement Section 954 of the Dodd-Frank Act. The proposed clawback rules would, among Read More
The Commodity Futures Trading Commission is requesting public comment on climate-related financial risk “to better inform its understanding and oversight of climate-related financial risk as pertinent to the derivatives markets and underlying commodities markets,” the CFTC announced. On June 2, the CFTC unanimously voted to release its request for information Read More
During a hearing before the House Financial Services Committee Task Force on Artificial Intelligence, Kevin Greenfield, deputy comptroller for operational risk policy at the Office of the Comptroller of the Currency, stressed the need for stepped up risk management when banks use AI. He also said the OCC will be Read More
The Securities and Exchange Commission has proposed new rules and required disclosures for initial public offerings through special purpose acquisition companies (SPACs). If adopted, the new rules would require additional reporting about SPAC sponsors, conflicts of interest, and sources of dilution. They also would require additional disclosures regarding business combinations Read More
The Securities and Exchange Commission is revisiting Dodd-Frank Act era rules that require companies to disclose more information about how their executive pay lines up with the company’s financial performance. This week the agency proposed new rules that is said would better reflect Congress’ intent to shed light on corporate Read More
Three pharmaceutical companies, Taro Pharmaceuticals USA, Sandoz, and Apotex, have agreed to pay a total of $447 million to resolve charges of price fixing and violating the False Claims Act, according to a statement by the U.S. Justice Department. The DoJ alleges that between 2013 and 2015, all three pharma Read More
Leveraging machine learning and advanced anomaly detection to address the overwhelming flood of digital communications data Since email first revolutionized the way professionals communicate with each other, the proliferation of faster and more sophisticated digital communication tools for powering business has only continued to expand. It’s well known that companies Read More
Amazon has announced that it will appeal a record European Union fine of $886.6 million, incurred for processing personal data in violation of EU General Data Protection Regulation (GDPR) rules. The Luxembourg National Commission for Data Protection (CNPD) handed down the fine in July in a decision that Amazon said Read More
Payoneer has agreed to pay a fine of $1.4 million to settle numerous violations of multiple sanctions programs. The Office of Foreign Assets Control announced late last week that the publicly traded online payments company was responsible for 2,260 apparent violations of the office’s sanctions program. OFAC is a Treasury Read More
