GRC Report Staff

Federal Reserve Vice Chair for Supervision Michael S. Barr unveiled a series of proposed regulatory changes aimed at strengthening market resilience and financial stability during his address at the 2024 U.S. Treasury Market Conference. The proposed adjustments primarily focus on enhancing liquidity regulations and integrating Federal Reserve facilities into banks' stress testing and contingency planning processes.

The International Financial Reporting Standards (IFRS) Foundation has unveiled a comprehensive guide to support companies in voluntarily adopting the International Sustainability Standards Board (ISSB) Standards. This initiative, titled "Voluntarily applying ISSB Standards—A guide for preparers," responds to the growing global investor demand for comparable and decision-useful sustainability-related disclosures.

The U.S. Securities and Exchange Commission (SEC) announced that it has levied more than $3.8 million in penalties against 23 entities and individuals for failing to file timely reports about their holdings and transactions in public company stock. The enforcement action also included charges against two public companies for contributing to filing failures by their officers and directors and for not reporting their insiders' filing delinquencies as required.

The Federal Trade Commission (FTC) has announced a major crackdown on companies misusing artificial intelligence (AI) technology to deceive consumers. Dubbed "Operation AI Comply," this initiative includes five law enforcement actions against firms allegedly exploiting AI hype or selling AI tools that enable unfair and deceptive practices.

The Commodity Futures Trading Commission (CFTC) has ordered Canadian Imperial Bank of Commerce (CIBC) to pay a $1.25 million fine for consistently failing to report swap transactions in a timely manner. The regulatory body announced the settlement on September 24, 2024, in Washington, DC.

The Commodity Futures Trading Commission (CFTC) has filed charges against four entities for failing to register as required futures commission merchants (FCMs), while falsely claiming to be regulated by the CFTC.

The Federal Trade Commission has taken enforcement action against Invitation Homes, the country's largest landlord of single-family homes. The FTC alleges that Invitation Homes engaged in a litany of unlawful actions against consumers, including deceiving renters about lease costs, charging undisclosed junk fees, failing to properly inspect homes before move-in, unfairly withholding security deposits, and using unfair eviction practices - even during the COVID-19 pandemic.