The Securities and Exchange Commission (SEC) has made a historic announcement, granting awards totaling more than $104 million to seven whistleblowers for their pivotal role in facilitating a successful SEC enforcement action and related proceedings by another agency. This substantial combined award ranks as the fourth largest in the history of the SEC's whistleblower program.
The Financial Conduct Authority (FCA) of Britain embarks on a groundbreaking reform today, compelling firms to adhere to a new duty aimed at justifying charges to customers. This granular regulatory shift is poised to enhance consumer protection and trust, with the FCA signaling a proactive approach to preventing potential mis-selling scandals.
Regulators at the Financial Conduct Authority (FCA) in the UK and the Board of Governors of the Federal Reserve System (Federal Reserve Board) in the US have raised alarm over the use of artificial intelligence (AI) in the financial services sector. This shared concern comes amid an increasingly collaborative global effort to address consumer protection risks in the adoption of AI technology.
Albemarle Corporation, a global leader in lithium production and chemicals manufacturing, has reached a significant agreement in principle with U.S. authorities to pay a substantial fine of $218.5 million. The settlement aims to resolve an investigation into potential foreign bribery conducted through third-party sales representatives, according to a statement released by the company.
Chinese-owned social media giant TikTok has introduced a series of novel features for its European users as part of a concerted effort to ensure compliance with the European Union's forthcoming Digital Services Act (DSA).
Private equity and hedge funds, cornerstones of the investment world, are bracing themselves for a potentially transformative regulatory shift as the U.S. Securities and Exchange Commission (SEC) gears up to unveil a rule package aimed at enhancing transparency, competition, and investor protection in the private-funds industry. With hundreds of billions of dollars in fees and expenses at stake, this regulatory overhaul could reshape the landscape for managing funds on behalf of high-net-worth individuals and institutional investors.
The UK government has released its latest edition of the National Risk Register (NRR), shedding light on the nation's most serious risks and potential threats. The NRR, an external version of the National Security Risk Assessment (NSRA), encompasses a wide array of challenges, ranging from health and societal risks to cyber threats and state-level dangers. As the UK navigates a complex risk landscape, the NRR offers insights into the country's preparedness and resilience strategies.