Three broker-dealers are facing fines and regulatory scrutiny after the SEC charged them with filing incomplete suspicious activity reports (SARs)—a critical misstep in the fight against financial crime. Webull Financial LLC, Lightspeed Financial Services Group LLC, and Paulson Investment Company, LLC agreed to pay a combined $275,000 in civil penalties to resolve the allegations, the SEC announced today.
The Public Company Accounting Oversight Board (PCAOB) has recently approved sweeping new requirements to standardize how audit firms report key metrics. These updates, coupled with a modernization of the PCAOB’s reporting framework, aim to enhance transparency, bolster investor confidence, and improve audit quality.
The U.S. Department of Justice (DOJ) has filed a proposal calling for Google to divest its Chrome web browser. The DOJ argues that Chrome, a critical entry point for internet browsing, has been instrumental in cementing Google’s dominance in search. The filing also leaves open the possibility of requiring Google to spin off its Android operating system, should the divestiture of Chrome not sufficiently address competition concerns.
The Consumer Financial Protection Bureau (CFPB) approved a new rule today that will subject nonbank digital payment companies to federal oversight, aiming to ensure the security of personal data, reduce fraud, and prevent illegal “debanking.” The CFPB, an independent U.S. government agency, is tasked with protecting consumers by enforcing federal financial laws and fostering fair, transparent, and competitive consumer financial markets.
Gary Gensler, the 33rd Chairman of the U.S. Securities and Exchange Commission (SEC), announced today that he will step down from his position on January 20, 2025. Gensler, who has served as Chairman since April 2021, has overseen a series of significant regulatory reforms during his tenure.
Earlier this month, Maersk released a report indicating that three out of four shippers operating in Europe have dealt with disruptions in their supply chain over the past 12 months. Even more alarming is that more than half of those affected are experiencing a serious impact on costs.
German companies are eager to lead the way in global climate protection but are running into a familiar roadblock: unreliable policies and patchy incentives. That’s the recurring theme of the AHK Climate Protection Compass 2024, a report from the German Chamber of Industry and Commerce (DIHK) and the German Chambers of Commerce Abroad (AHKs).