GRC Report Staff

The Securities and Exchange Commission (SEC) has slapped Equiniti Trust Company LLC with an $850,000 civil penalty after the company’s inadequate cybersecurity defenses led to over $6.6 million in client funds being siphoned off in a series of cyberattacks. The debacle, which unfolded over two separate incidents in 2022 and 2023, underscores the critical need for transfer agents and financial firms to fortify their cyber defenses against increasingly sophisticated threat actors.

The latest annual benchmark study on environmental, social, and governance (ESG) policies and compliance conducted by Corporate Counsel in partnership with Morrison Foerster has revealed several notable trends in how organizations and their legal departments are approaching ESG.

The Securities and Exchange Commission has approved a slate of changes proposed by the Public Company Accounting Oversight Board (PCAOB) to overhaul audit standards and liability rules.

The Commodity Futures Trading Commission (CFTC) has taken decisive action against two separate cases of derivatives market misconduct, issuing over $1.2 million in total penalties.

The Securities and Exchange Commission (SEC) announced today that billionaire investor Carl C. Icahn and his company, Icahn Enterprises L.P. (IEP), have agreed to pay penalties to settle charges related to inadequate disclosure of financial arrangements.

The Spanish Data Protection Agency (AEPD) has launched a sanction procedure against Uniqlo Europe, Ltd, Spanish Branch, following a significant data breach that occurred in August 2022. The incident came to light when a former employee filed a complaint on March 31, 2023, revealing that they had received an email containing a PDF with payroll information of 447 Uniqlo workers.

The Federal Reserve's recently released 2023 Annual Report provides a comprehensive overview of the central bank's intensified supervisory efforts and its approach to addressing evolving risks in the banking sector. The report details a year marked by significant developments in supervision and regulation, reflecting the Fed's response to recent banking challenges and its forward-looking risk management strategies.