The SEC has proposed updates to modernize legacy rules for registered transfer agents that have remained largely unchanged since the 1970s and 80s. This move aims to integrate modern technological advancements, such as blockchain and electronic communications, into the national clearance and settlement system.
The SEC is hosting a roundtable to discuss the regulatory, operational, and infrastructure requirements necessary to transition toward 24-hour trading markets. This announcement signals an upcoming regulatory focus on market integrity, enhanced surveillance capabilities, and robust systems readiness during non-traditional hours.
The Federal Reserve is advocating for improved financial inclusion and entrepreneurial opportunities for individuals with criminal records to foster a more inclusive economy. For compliance professionals, this highlights an evolving focus on using alternative data and AI-driven underwriting to provide credit access to underserved populations while maintaining robust risk controls.
The Financial Conduct Authority has introduced new rules (COCON 1.1.7FR) and guidance (PS25/23) to address non-financial misconduct, such as bullying and harassment. Compliance teams must now integrate these broader conduct definitions into their internal policies and "fit and proper" assessment frameworks to mitigate reputational and operational risks.
The Financial Conduct Authority (FCA) has issued a warning regarding the unauthorized entity Alpha-Flow.ai, which may be providing financial services without permission. Compliance teams must treat this as a high-priority fraud alert to ensure internal systems and client communications reflect the risks of dealing with non-authorized entities.
Finland’s Financial Supervisory Authority (FIN-FSA) has published updated principles on October 1 for determining the size of penalty payments and administrative fines. The principles themselves are not new. The authority published an earlier version in 2022, and the latest changes largely put greater precision around practices that have since become established.
Italy’s privacy regulator has fined IQVIA Solutions Italy €7 million over a database containing the health information of roughly 1 million patients, finding that data the company regarded as anonymous could, in fact, be traced back to individuals.
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