Carol Beaumier

Jan 13, 2025 | protiviti.com | Carol Beaumier

While financial institutions will still face challenges complying with these requirements and detecting evasion, improvements made to sanction and export control compliance programs because of recent lessons learned have better prepared them for managing the risks. That said, there were important developments in 2024; there are areas to watch in 2025; and there are, for some institutions, additional program enhancements to be made.

Nov 8, 2024 | protiviti.com | Carol Beaumier

Underpinning the Act are a number of important principles including proportionality based on risk, transparency and accountability, fairness and non-discrimination, prevention of harm, data privacy and security, safety and trustworthiness, and the need for human oversight.

Oct 24, 2024 | protiviti.com | Carol Beaumier |Bernadine Reese |Mike Purvis

Regulatory change is endemic to the financial services industry. Whether prompted by industry crises, political and legislative goals, customer needs or demands, world events, or technological innovation, the changes keep coming and seem more far-reaching and complex than ever. Financial institutions can choose the way they manage regulatory change.

Jul 9, 2024 | protiviti.com | Carol Beaumier

Views on the merits and effects of these decisions vary significantly. What is indisputable, however, is that the decisions will have an impact on rulemaking — both the way rules are made and how they are subsequently interpreted. U.S. Chamber of CommerceOverruling Chevron "is an important course correction that will help create a more predictable and stable regulatory environment," said U.S. Chamber of Commerce President and CEO Suzanne P. Clark.

Feb 19, 2024 | protiviti.com | Carol Beaumier

Nearly 20 years ago, I wrote an article entitled: “OFAC: Not Just a Banking Issue.” I don’t recall exactly what prompted me to write the article. I think it was tied to the U.S. government’s use of sanctions as one of its tools for fighting terrorism in the post 9/11 world. Twenty years from now someone may wonder why I chose this time to update the article. I don’t think it will be much of a mystery, however.