HSBC, in collaboration with Procurement Leaders, a World50 Group Community, has released a pivotal report titled "Building Resilient Supply Chains Amid an Uncertain Geopolitical Landscape." The study offers crucial insights for businesses navigating the increasingly complex world of global trade, where geopolitical uncertainties are reshaping traditional supply chain models.
The Securities and Exchange Commission (SEC) has announced that R.R. Donnelley & Sons Company (RRD), a global provider of business communication and marketing services, has agreed to pay over $2.1 million to settle charges related to cybersecurity control failures. The case, however, has ignited a debate about the SEC's interpretation and application of internal accounting controls regulations.
The Swiss Financial Market Supervisory Authority (FINMA) has cracked down on HSBC Private Bank (Suisse) SA for serious violations of anti-money laundering laws involving two politically exposed persons (PEPs).
The Autorité des Marchés Financiers (AMF) and the Autorité de Contrôle Prudentiel et de Résolution (ACPR), France's financial regulators, have published their 4th annual report assessing climate commitments made by banks, insurers and asset managers in the Paris financial center.
The Office of the Comptroller of the Currency (OCC) has released its Semiannual Risk Perspective for Spring 2024, identifying several critical issues facing the federal banking system. Despite the overall stability of the banking system, the OCC warns that a maturing economic cycle could bring significant consumer challenges. To mitigate these risks, the OCC urges banks to enhance their risk management practices and avoid complacency.
Today, the three European Supervisory Authorities (ESAs)—the European Banking Authority (EBA), the European Insurance and Occupational Pensions Authority (EIOPA), and the European Securities and Markets Authority (ESMA)—published a joint Opinion on the Sustainable Finance Disclosure Regulation (SFDR). This collective assessment calls for a more coherent sustainable finance framework that supports the green transition while enhancing consumer protection, based on insights gained from the current functioning of the SFDR.
The Public Company Accounting Oversight Board (PCAOB) announced today that it is sanctioning three accounting firms - KKM CPA Associates PLLC, BDO Chartered Accountants & Advisors, and De Visser Gray LLP - for violating rules and regulations by failing to comply with PCAOB reporting requirements.