News & Analysis as of

Audits Financial Services Industry

Mitratech Holdings, Inc

Countdown to DORA Compliance: Key Steps Your Organization Should Take Now

Essential Guidelines for Ensuring Your Organization is Ready for January 2025. We are more than halfway through the year and the urgency to achieve DORA compliance by the fast-approaching January deadline is becoming...more

Morgan Lewis - Tech & Sourcing

Preparing for DORA: Mind the Gap

Starting January 17, 2025, financial entities based in the European Union must have in place processes and policies, as well as mandatory contract provisions with their third-party technology vendors, that comply with the...more

K&L Gates LLP

February 2024 ESG Policy Update—Australia

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Australian Update - Draft Legislation – Climate-Related Financial Disclosures The Australian Government has released Treasury Laws Amendment Bill 2024: Climate-related financial disclosure, which is draft legislation...more

Alston & Bird

A Practical Guide to the SEC’s Private Fund Adviser Rules: Commentary and Industry Insight

Alston & Bird on

In August 2023, the U.S. Securities and Exchange Commission adopted new rules and amendments to rules under the Investment Advisers Act of 1940, as amended, affecting registered and unregistered advisers to private funds. We...more

Hogan Lovells

Hong Kong audit regulator reaches landmark agreement over mainland audit papers

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Hong Kong’s audit regulator, the Accounting and Financial Reporting Council (AFRC) says it has reached a landmark agreement to help it obtain audit working papers of Public Interest Entity (PIE) auditors located on the PRC...more

Goodwin

SEC Adopts Expansive (Albeit Slightly Softened) Private Funds Rules

Goodwin on

Today, the SEC (U.S. Securities and Exchange Commission) has adopted the much anticipated so-called “Private Funds Rules” under the Investment Advisers Act of 1940 (the “Advisers Act”). The Private Funds Rules will impact not...more

Walkers

New independent compliance audit requirement in Guernsey

Walkers on

The Guernsey Financial Services Commission ("GFSC") updated its Handbook on Countering Financial Crime and Terrorist Financing (the "Handbook") in early July 2023 and the updates included a new requirement for a "specified...more

Amundsen Davis LLC

The Risks of Using Chatbots in the Financial Industry and How to Foster Consumer Confidence

Amundsen Davis LLC on

Recently, the Consumer Financial Protection Bureau (CFPB) released a report on the use of chatbots, such as ChatGPT, etc., by financial institutions. The report highlighted that chatbot use, as automated teller machines and...more

Winstead PC

Digital Asset Customer Protections Signed into Texas Law

Winstead PC on

Texas Governor Abbott has signed landmark legislation to ensure that digital asset service providers with Texas customers maintain adequate reserves and do not commingle customer funds with corporate assets. Texas...more

Orrick, Herrington & Sutcliffe LLP

Warren, Wyden urge PCAOB to crack down on crypto auditors

On January 25, Senators Elizabeth Warren (D-MA) and Ron Wyden (D-OR) sent a letter to the chair of the Public Company Accounting Oversight Board (PCAOB) urging the board to make sure it was taking sufficient measures to hold...more

Adams and Reese LLP

Wave of Class Actions Targeting Businesses Marketing to Florida

Adams and Reese LLP on

Wave of Class Actions Targeting Businesses Marketing to Florida Is your business at risk? With the 2022 surge of telemarketing class actions, businesses need to be increasingly concerned about their practices and...more

Skadden, Arps, Slate, Meagher & Flom LLP

Tax Enforcement: A Spotlight on Complex Partnership Structures

The boost in funding for the Internal Revenue Service (IRS) provided in the Inflation Reduction Act of 2022 (IRA) comes just as it has started rolling out in earnest programs focusing on auditing complex partnership...more

Nutter McClennen & Fish LLP

Nutter Securities Enforcement Update: December 1, 2022

The Nutter Securities Enforcement Update is a periodic summary of noteworthy recent securities enforcement activity, settlements, decisions, and charges....more

Holland & Knight LLP

NYDFS Proposes Amendments to Cybersecurity Regulation

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The New York Department of Financial Services (NYDFS) on Nov. 9, 2022, released Proposed Amendments to its Cybersecurity Regulation. The NYDFS Cybersecurity Regulation was one of the first laws requiring companies to comply...more

Hogan Lovells

Global Accountants' Liability Update – June 2022

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Our global team of securities and professional liability lawyers at Hogan Lovells is uniquely positioned to monitor legal developments across the globe that impact accountants’ liability risk. We have experienced lawyers on...more

Goodwin

ESMA Cloud Outsourcing Guidelines – Practical Points for Cloud Service Providers and Regulated Entities

Goodwin on

The European Securities and Markets Authority (“ESMA”) Final Report Guidelines on outsourcing to cloud service providers (“the Guidelines”) came into force on 31 July 2021 and apply to all cloud outsourcing arrangements...more

Hogan Lovells

Global Accountants' Liability Update – October 2021

Hogan Lovells on

A company that specialized in the design and production of optical instruments (hereafter: the Company) hired an accounting firm and a tax consultancy firm (hereinafter: the Accountants) to prepare its annual accounts between...more

American Conference Institute (ACI)

[Event] 15th Flagship Conference on U.S. Economic Sanctions Enforcement and Compliance - December 7th - 8th, Washington, DC

LIVE and IN-PERSON ACI’s Flagship Conference in December! ACI’s 15th Flagship Conference on U.S. Economic Sanctions Enforcement and Compliance is North America’s largest and most comprehensive conference on economic...more

Holland & Knight LLP

Offshore Lenders Targeted by IRS Audit Campaign

Holland & Knight LLP on

Since 2017, the Internal Revenue Service (IRS) Large Business and International Division (LB&I) has shifted its audit efforts to issue-based examinations, premised on strategically identified and prioritized areas of...more

American Conference Institute (ACI)

[Event] London Forum on Global Economic Sanctions - November 17th - 18th, London, United Kingdom

Practical Guidance to Staying Compliant with Multiple Regimes - 10th London Forum on Global Economic Sanctions will return on November 17-18, 2021, IN PERSON! This program will provide you with all the current...more

Oberheiden P.C.

5 Keys to Performing A GLBA Audit

Oberheiden P.C. on

Purpose and Background of the GLBA - The Gramm-Leach-Bliley Act (“GLBA”), also known as the Financial Services Modernization Act of 1999, is a federal statute enacted by Congress in 1999 that requires financial...more

American Conference Institute (ACI)

[Virtual Conference] Navigating Russia Sanctions Complexities - September 27th, 10:00 am - 5:00 pm EDT

Unravel the multiple layers of primary and secondary Russia Sanctions and strengthen your analytical decision-making process. The Russia sanctions landscape continues to evolve in many significant ways. ACI’s 4th...more

McGlinchey Stafford

SEC’s 2021 Examination Priorities Focus On Fintechs And Sustainability

McGlinchey Stafford on

In March, the Securities and Exchange Commission (SEC)’s Division of Examinations announced its 2021 examination priorities. The SEC has committed to focusing its investigations on, among other issues, “attendant risks...more

American Conference Institute (ACI)

[Virtual Event] Asia Pacific Conference on Economic Sanctions Compliance and Enforcement - May 27th - 28th, 9:00 am - 1:15 pm SGT

ACI’s Asia-Pacific Advanced Conference on Economic Sanctions Compliance and Enforcement is the largest sanctions gathering in Asia for financial institutions and global exporters. This unique conference features senior...more

American Conference Institute (ACI)

[Virtual Event] U.S. Economic Sanctions Enforcement and Compliance - April 28th - 29th, 9:00 am - 4:45 pm EDT

The 14th Annual Advanced Forum on Economic Sanctions Enforcement and Compliance will take place in a virtual format on April 28 – 29, 2021 Eastern Daylight Time. This is a ‘must-attend’ event for senior executives and...more

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