Compliance & Ethics

In a bid to boost transparency in the securities lending market, the U.S. Securities and Exchange Commission (SEC) has introduced Rule 10c-1a. This new regulation mandates specific entities to report crucial information about securities loans to registered national securities associations (RNSAs) and compels RNSAs to provide certain transaction details to the public. The rule's ultimate aim is to enhance transparency and efficiency in the securities lending sector.

The Commodity Futures Trading Commission (CFTC) has announced a substantial whistleblower award of over $18 million to an individual who played a pivotal role in providing essential information and assistance during a CFTC enforcement action and a related investigation conducted by another agency. The whistleblower's contributions included significant, high-quality support to the CFTC's Division of Enforcement (DOE) and critical communications with the other agency, which ultimately led to the resolution of the related action.

The Commodity Futures Trading Commission (CFTC) has made a resounding move in the world of digital asset platforms, filing a complaint in the U.S. District Court for the Southern District of New York. The complaint, targeting Tennessee resident Stephen Ehrlich, former CEO of Voyager Digital Ltd., Voyager Digital Holdings, Inc., and Voyager Digital, LLC (collectively referred to as Voyager), levels serious allegations of fraud and registration failures.

A new survey by Wolters Kluwer has exposed a startling lack of awareness among companies subject to the Corporate Transparency Act (CTA), which is set to take effect in less than 90 days. The CTA introduces "beneficial ownership" rules that mandate companies to report vital information about their ownership structure. Failure to comply with these new regulations poses substantial compliance risks, including hefty fines and the potential for legal repercussions.

In a significant move to keep pace with the fast-evolving landscape of financial markets, the U.S. Securities and Exchange Commission (SEC) has announced a set of rule amendments governing beneficial ownership reporting under Sections 13(d) and 13(g) of the Securities Exchange Act of 1934. These amendments, aimed at providing more timely and relevant information to investors, have been widely anticipated and welcomed by market participants.

The head of Germany's cartel office, Andreas Mundt, has issued a stark warning about the looming threat of Big Tech's dominance in the realm of artificial intelligence (AI). His remarks have ignited concerns among regulators globally, who fear that tech giants, armed with vast reserves of user data, may gain an insurmountable edge in AI applications across industries.

The U.S. Department of Justice (DOJ) has unveiled a new Safe Harbor policy designed to encourage voluntary self-disclosures of criminal misconduct made in connection with mergers and acquisitions (M&A). The policy aims to promote transparency, predictability, and incentives for companies to disclose wrongdoing during M&A processes.