In a significant move towards environmental protection, the European Parliament has approved a groundbreaking directive on environmental crimes and corresponding sanctions. The directive, adopted on Tuesday with overwhelming support, introduces an expanded list of criminal offenses and penalties aimed at combatting illegal practices detrimental to the environment.
Superintendent Adrienne A. Harris of the New York State Department of Financial Services (DFS) has announced a major settlement with Gemini Trust Company, LLC ("Gemini"). The agreement stipulates Gemini's commitment to returning at least $1.1 billion to customers affected by the Gemini Earn Program ("Earn") through the Genesis Global Capital, LLC ("GGC") bankruptcy proceedings.
The Financial Action Task Force (FATF), an international crime watchdog, announced the removal of the United Arab Emirates (UAE) from its 'grey list.' Simultaneously, Kenya and Namibia have been added to the list, subjecting them to heightened scrutiny due to concerns over inadequate measures against money laundering and terrorism financing.
The Business Council of Australia (BCA) has voiced its support for a one-year delay in the implementation of mandatory climate reporting requirements. The council emphasizes the importance of continuous improvement in the quality of climate-related financial disclosures, aligning closely with international standards.
AuditBoard, an established risk, compliance, and audit management platform, has released the results of an extensive study examining the ramifications of the SEC Cybersecurity Disclosure Rules on businesses. Drawing insights from a survey involving over 300 executives and security professionals in North America, the report delves into the profound implications of the new U.S. Securities and Exchange Commission (SEC) cybersecurity disclosure ruling, which took effect on December 15, 2023.
Frankfurt has been selected as the headquarters for the European Union's Anti-Money Laundering and Countering the Financing of Terrorism Authority (AMLA). The decision was made through a joint vote on Thursday by Members of the European Parliament (MEPs) and EU ambassadors.
Attorney General Merrick B. Garland announced today the appointment of Jonathan Mayer as the Justice Department’s first Chief Science and Technology Advisor and Chief Artificial Intelligence (AI) Officer.