Compliance

The CTA changes what constitutes beneficial ownership and establishes more robust automated data collection. In addition, it increases responsibilities and incentives for employees to blow the whistle on money-laundering activity. Fox Rothschild's Joshua Ashby and Kimberly Kwan discuss. With the New Year, the U.S. welcomed newly elected president Joe Biden....

We're facing a "Channel Explosion" these days, which means we're challenged to monitor more data streams than ever -- and we must do it in the new era of the hybrid workforce.  Technology can play a critical role here. Here's how an AI-driven solution can enhance financial services compliance while...

Washington D.C. (March 4, 2021) — The Securities and Exchange Commission today announced the creation of a Climate and ESG Task Force in the Division of Enforcement. The task force will be led by Kelly L. Gibson, the Acting Deputy Director of Enforcement, who will oversee a Division-wide effort, with...

OFAC has brought two enforcement actions against digital currency services providers in as many months – the latest, against BitPay, should spur companies to develop risk-based sanctions compliance programs. Michael Volkov discusses the violations. The Treasury Department’s Office of Foreign Asset Control continues to focus enforcement activities on digital currency...

Based on research from Thomson Reuters, this report indicates there's a perception that the overall value of maintaining a compliant workforce has diminished, and that training has largely been reduced to a "check the box" activity. The research suggests that more robust compliance frameworks are needed -- particularly given the...

The SEC's updated MD&A rules will bring about key changes in financial disclosures, streamlining existing disclosure requirements. In adopting final amendments to Regulation S-K on November 19, 2020, the Securities and Exchange Commission (SEC) took additional steps to streamline disclosure requirements relating to Management’s Discussion and Analysis (MD&A) and other...

The Corporate Transparency Act (CTA) will require millions of U.S. businesses to provide beneficial ownership information to the federal government. Foley Hoag’s Luciano Racco weighs in on who’s impacted, along with the regulation’s value for AML and sanctions compliance programs. Buried within the 1,400-page National Defense Authorization Act for Fiscal...

Corporate whistleblower tips are skyrocketing. In FY 2020, the SEC received over 6,900 whistleblower tips – the most ever for any year. More than 80% of those tips came from company employees who had previously raised red flags, which typically should have triggered evaluations to determine what sort of internal...

GRC pros know that culture and compliance are inexorably linked. COVID has thrown a wrench in corporate culture, though (along with everything else). Calvin London opines about why re-establishing a culture of compliance now may prove difficult. (Non)Compliance in 2020 I, for one, was very glad to see the back...

With a new administration in the White House, we can expect big regulatory changes to come soon. Onna’s Scott McVeigh shares what organizations can do to prepare now, particularly in terms of information governance. With the massive distractions from the coronavirus pandemic and a reduced focus on regulation and what...

There’s no denying the need for federal relief in the midst of COVID-19, but companies that have never before been exposed to False Claims Act liability may not have compliance programs designed to prevent these risks. Hughes Hubbard’s Michael DeBernardis and Philip Giordano stress that now is the time to...

International trade attorneys from Kirkland & Ellis discuss a Trump executive order from early this year, discussing who it impacts and how and what may come to pass under the Biden administration. with contributing author Jeremy Iloulian On January 5, 2021, President Trump issued an Executive Order on “Addressing the...