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3 days ago | 
complianceweek.com | Aaron Nicodemus |Ian Sherr
Russia’s invasion of Ukraine has sparked a war with unusual implications: The U.S. has stepped up sanctions and export controls. But companies are increasingly learning that the most seemingly innocuous products can find themselves in “dual use,” as a product for daily life and a product for war. A gyroscope or a more advanced GPS chip might help improve a smartphone’s capabilities, but they can also help to guide a missile.
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1 week ago | 
complianceweek.com | Aaron Nicodemus
Three of four respondents to Compliance Week’s Inside the Mind of the CCO survey said their employers have policies and procedures in place that govern employee use of unauthorized communications on their cell phones.
The survey, conducted in November and December, found that another 11 percent of the 179 practitioners who answered the question were currently drafting new policies under regulatory scrutiny. Fifteen percent reported that they had no off-channel communications policies in place.
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2 weeks ago | 
complianceweek.com | Aaron Nicodemus
The Department of Justice and Federal Trade Commission have bolstered a conservative legal effort to dismantle environmental, social, and governance (ESG)-based investment strategies from three large asset managers by claiming they illegally conspired to artificially raise energy prices.
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2 weeks ago | 
complianceweek.com | Aaron Nicodemus
The Federal Trade Commission (FTC) has ordered web hosting company GoDaddy to implement a “robust” information security program following at least three data breaches that the agency said were aided by lax cybersecurity measures.
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2 weeks ago | 
complianceweek.com | Aaron Nicodemus
Securities and Exchange Commission (SEC) Chair Paul Atkins indicated he favors changing the agency’s requirement that only the wealthy can invest in so-called “closed-end” private equity funds and hedge funds.
In a speech delivered Monday as part of the SEC Speaks event, Atkins said he has asked SEC staff to re-evaluate the agency’s requirements that investors in closed-end funds offer an initial investment of $25,000 to be eligible, while also meeting the SEC’s “” standard.
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2 weeks ago | 
complianceweek.com | Aaron Nicodemus
The Trump administration is preparing to ask the European Union to alter or water down its rules on content moderation on social media, claiming that they hurt the competitiveness of American technology companies.
The initiative, being led by the U.S. State Department, has begun with an assessment of the laws’ impact on free speech, according to a story in The Wall Street Journal.
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3 weeks ago | 
complianceweek.com | Aaron Nicodemus
As the Consumer Financial Protection Bureau (CFPB) steps back from its core mission of protecting American consumers, states like New York and Pennsylvania are stepping up to fill the regulatory void.
New York Attorney General Letitia James filed a federal lawsuit Wednesday against Capital One, accusing the bank of cheating its customers out of millions of dollars by keeping its savings account interest rates artificially low even as interest rates rose nationally.
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3 weeks ago | 
complianceweek.com | Aaron Nicodemus
The Consumer Financial Protection Bureau (CFPB) has rescinded 39 guidance documents that had provided insight into the regulator’s thinking on a host of topics, including enforcement practices and how companies should handle customer complaints.
The CFPB, under acting director Russell Vought, withdrew its support of the 39 guidance documents in a notice published Monday in the Federal Register.
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4 weeks ago | 
complianceweek.com | Aaron Nicodemus
The Securities and Exchange Commission has offered to settle its long-running lawsuit against cryptocurrency firm Ripple Labs for $50 million, the latest in a series of pullbacks by the agency on ongoing crypto lawsuits.
The proposed joint settlement, announced Thursday by the SEC, would fine Ripple Labs $50 million and allow the remaining $75 million of the $125 million in escrow set aside in the original judgment, issued by the court in an August 2024, be returned to Ripple.
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1 month ago | 
complianceweek.com | Aaron Nicodemus
A decision by the Securities and Exchange Commission (SEC) to close an investigation into the cash sweep program at Morgan Stanley may affect decision-making at other financial institutions under similar scrutiny.
The SEC informed Morgan Stanley in March that it had closed its investigation into the firm’s cash sweep program without recommending an enforcement action, Morgan Stanley disclosed in a 10-Q Monday.
