The U.S. Department of Commerce has introduced a cutting-edge supply chain risk assessment tool at its first-ever Supply Chain Summit. The event, held on Tuesday, September 10, 2024, marked a significant shift from reactive measures to proactive strategies in managing global supply chain disruptions.
Agricultural machinery giant John Deere has agreed to pay nearly $10 million to settle charges brought by the U.S. Securities and Exchange Commission (SEC) for violations of the Foreign Corrupt Practices Act (FCPA). The charges stem from a bribery scheme involving the company's Thai subsidiary, Wirtgen Thailand.
The European Supervisory Authorities (ESAs)—comprising the European Banking Authority (EBA), the European Insurance and Occupational Pensions Authority (EIOPA), and the European Securities and Markets Authority (ESMA)—have issued their Autumn 2024 Joint Committee Report, highlighting a landscape fraught with economic and geopolitical uncertainties. This comprehensive assessment underscores the pressing need for heightened vigilance across all financial market participants.
The Swedish Data Protection Authority (IMY) has recently imposed penalties on Apoteket AB and Apohem AB, totaling SEK 37 million (€3.2 million) and SEK 8 million (€698,000), respectively. These fines come after an investigation revealed that both companies used Meta's Pixel tool inappropriately, resulting in the unauthorized transfer of privacy-sensitive personal data to Meta’s advertising platforms.
The Federal Reserve is set to revise its proposed capital rules for banks, emphasizing a more nuanced, risk-based approach. Michael S. Barr, Vice Chair for Supervision at the Federal Reserve, unveiled these plans in a recent speech at the Brookings Institution, signaling a significant shift in how regulators view bank resilience and risk management.
Wynn Las Vegas, a subsidiary of Wynn Resorts, Limited, has agreed to a staggering $130,131,645 forfeiture to settle criminal allegations that it conspired with unlicensed money-transmitting businesses to funnel funds for foreign gamblers. Announced by the U.S. Attorney's Office for the Southern District of California on September 6, 2024, the settlement is believed to be the largest forfeiture ever by a casino based on admissions of criminal wrongdoing.
The European Data Protection Board (EDPB) and the European Commission have announced a collaborative effort to develop guidance on the interplay between the General Data Protection Regulation (GDPR) and the Digital Markets Act (DMA).