The Autorité de la concurrence has imposed a hefty fine of €250 million on Alphabet Inc., Google LLC, Google Ireland Ltd, and Google France, collectively referred to as "Google." This fine comes as a consequence of Google's failure to comply with certain commitments outlined in Decision 22-D-13 of 21 June 2022.
The Fifth Circuit Court of Appeals has issued an administrative stay of the Securities and Exchange Commission's (SEC) much-discussed climate disclosure rule. This rule, which was unveiled on March 6, 2024, aimed to compel public companies to provide enhanced disclosures regarding the risks they encounter due to climate change.
The European Data Protection Board (EDPB) has initiated its Coordinated Enforcement Framework (CEF) action for the year 2024, focusing on the implementation of the right of access across the European Economic Area (EEA). This concerted effort involves 31 Data Protection Authorities (DPAs), including 7 German State-level DPAs, aimed at ensuring compliance with Article 15 of the General Data Protection Regulation (GDPR).
The Federal Bureau of Investigation (FBI) has unveiled its annual summary of cybercrime activity for the year 2023, painting a stark picture of escalating threats and substantial financial losses. The report, released recently, sheds light on a surge in cyber incidents across various categories, with ransomware attacks making a notable resurgence and cryptocurrency fraud emerging as a significant concern.
The Office of the Comptroller of the Currency (OCC) has levied a $250 million civil money penalty against JPMorgan Chase Bank, N.A. (JPMC) for deficiencies identified in its trade surveillance program. The penalty, announced today, reflects the OCC's findings of shortcomings in JPMC's trading venue coverage and data controls essential for an effective trade surveillance program.
The European Parliament has approved the Artificial Intelligence Act, marking a significant step toward regulating high-risk AI applications, protecting fundamental rights, and promoting innovation. The regulation, agreed upon in December 2023 after negotiations with member states, received overwhelming support from MEPs, with 523 votes in favor, 46 against, and 49 abstentions.
Acting Comptroller, Michael Hsu, addressed the Institute of International Bankers (IIB) Annual Washington Conference, shedding light on the critical importance of operational resilience in the banking sector. Amidst the backdrop of discussions often dominated by capital and liquidity concerns, Hsu emphasized that operational resilience plays a pivotal role in ensuring the safety and soundness of banks and maintaining financial stability.