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Compliance Recordkeeping Requirements

Compliance programs typically refer to formalized institutional procedures within corporations and organizations to detect, prevent and respond to indvidual and widespread instances of regulatory violations. ... more +
Compliance programs typically refer to formalized institutional procedures within corporations and organizations to detect, prevent and respond to indvidual and widespread instances of regulatory violations.  In response to many corporate scandals evidencing rampant unethical business practices, many nations, including the United States, began passing strict regulatory frameworks aimed at curbing these abuses. Notable pieces of legislation in this area include the U.S. Foreign Corrupt Practices Act (FCPA), Sarbanes-Oxley (SOX), and the U.K. Bribery Act, to name a few. The foregoing statutes and the severe penalties often associated with them form the basis of many modern institutional compliance programs. less -
Venable LLP

Custody Battles: The FDIC's Latest Proposed Rule on FBO Accounts

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The FDIC has issued a proposed rule that would apply to practically all bank-fintech arrangements that use custodial deposit accounts to provide customers with transactional features (also called "FBO" accounts for short)....more

Venable LLP

California's New Workplace Violence Prevention Law is Now in Effect

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California recently enacted the country's first state-mandated workplace violence prevention safety law for general industries. California's Workplace Violence Prevention law took effect on July 1, 2024, applies to virtually...more

Seward & Kissel LLP

SEC Enforcement Action Rundown

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Who may be interested: Registered Investment Advisers, Registered Investment Companies, Compliance Staff - Quick Take: The SEC recently announced a number of enforcement actions relating to recordkeeping failures,...more

BCLP

SEC Enforcement Sweep Regarding Off-Channel Communications Nets 26 More Settlements and Over $390 Million in Civil Penalties

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On August 14, 2024 the U.S. Securities and Exchange Commission (the “SEC”) announced settled charges against 26 SEC-registered investment advisers, broker-dealers and dually-registered broker-dealers and investment advisers...more

DLA Piper

Gone in a Flash: Unravelling the Mystery of Ephemeral Messaging

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Imagine a modern-day meeting room in a bustling corporate office, where executives and employees alike converse in hushed tones, no notes or minutes are taken, and their words disappear almost as quickly as they are spoken....more

Harris Beach PLLC

What New York Employers Should Know about the Freelance Isn’t Free Act

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New Yorkers utilizing freelance workers or independent contractors for work totaling $800 or more will soon need to comply with New York’s Freelance Isn’t Free Act (“FIFA”). The Act, which was signed into law by Governor...more

PilieroMazza PLLC

Managing Small Business Risk, Part I: Expect Litigation Even When It Seems Unlikely

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No business wants to be investigated or charged by the government, sued by a competitor, or compelled to defend against an employment lawsuit. The risks of such litigation to any company are so predictable, though, that large...more

Davis Wright Tremaine LLP

FCC Extends E-Rate to Off-Premises Wi-Fi Hotspots

On July 29, 2024, the Federal Communications Commission ("FCC") issued a Report and Order ("Order") extending E-Rate support to off-premises Wi-Fi hotspots for use by students, school staff, and library patrons. Hotspots had...more

Nilan Johnson Lewis PA

PFAS Reporting Requirements at the Federal and State Level – How Will Manufacturers Respond? – Part 4 of 10

Part 4. PFAS Reporting Requirements at the Federal and State Level – How Will Manufacturers Respond? Per- and polyfluoroalkyl substances, known by the acronym PFAS and better known by the moniker “forever chemicals,” are...more

Seward & Kissel LLP

Compliance Flash: OFAC Announces New Reporting Requirement for Financial Institutions Under the REPO for Ukrainians Act

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The supplemental appropriations legislation signed into law on April 24, 2024 enacted numerous high-profile provisions addressing aspects of U.S. foreign policy and national security, including provisions that broaden and...more

Pillsbury Winthrop Shaw Pittman LLP

The EU’s AI Act: A Review of the World’s First Comprehensive Law on Artificial Intelligence and What This Means for EU and Non-EU...

The agreed text of the AI Act was published on July 12, 2024, essentially starting the clock on the legal deadlines contained in it. Its obligations will apply in tiered phases, with the first key obligations being enforced...more

WilmerHale

What Are High-Risk AI Systems Within the Meaning of the EU’s AI Act, and What Requirements Apply to Them?

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In this blog post, we will focus on the identification of “high-risk AI systems” under the Artificial Intelligence Act (“AI Act”) and the requirements applying to such systems. As explained in our previous blog posts, the AI...more

Freiberger Haber LLP

Enforcement News: SEC Charges Bank With Misleading Investors About The Strength Of Its BSA/AML Compliance Program And Its...

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The Currency and Foreign Transactions Reporting Act, also known as the “BSA,” enacted in 1970, established requirements for record-keeping and reporting by banks and other financial institutions. The BSA is designed to, among...more

Holland & Knight LLP

Product Importers: Are You Ready for the New PFAS Reporting Requirements Under TSCA?

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The U.S. Environmental Protection Agency (EPA) published a far-reaching and important final rule (Rule) on Oct. 11, 2023, requiring comprehensive reporting of per- and polyfluoroalkyl substances (PFAS) manufactured and...more

Morrison & Foerster LLP

Amendment To QPAM Exemption

The Department of Labor (DOL) recently issued a final amendment (“Final Amendment”) to Prohibited Transaction Exemption (PTE) 84-14, which is otherwise known as the “QPAM Exemption.” The QPAM Exemption is a prohibited...more

Alston & Bird

CFPB Expands its Reach with Final Rule Establishing Nonbank Registry of Public Settlements, Consent Orders and Enforcement Actions

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What Happened? On June 3, 2024, the Consumer Financial Protection Bureau (CFPB or Bureau) issued its Registry of Nonbank Covered Persons Subject to Certain Agency and Court Orders Final Rule (the Final Rule), a 486-page rule...more

Buchalter

Navigating New PFAS Regulations in California and New York: Critical Updates for the Textile and Apparel Industries

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Buchalter can assist by providing you with recommendations for testing laboratories, detailed analysis of state and federal PFAS regulations, create compliance programs tailored to meet regulatory requirements, assist in the...more

Mitratech Holdings, Inc

Ensuring I-9 Compliance for Reduced Risk in Healthcare Facilities

As the backbone of patient care, healthcare organizations must meet Form I-9 requirements. However, it can sometimes get lost in the hiring process. There are a lot of things happening at the same time during hiring!...more

Laner Muchin, Ltd.

Reminder: Chicago Employers Must Comply with City’s Harassment Training Requirements by June 30th Deadline

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As previously reported by the Fast Laner, employers with one or more employees in the City of Chicago that are subject to Chicago licensing requirements or that maintain a business facility within City limits, must meet the...more

Mayer Brown Free Writings + Perspectives

SEC and FinCEN Propose Customer Identification Program Requirements for Certain Investment Advisers

I. INTRODUCTION - On May 13, 2024, the US Securities and Exchange Commission (“SEC”) and the US Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) issued a joint notice of proposed rulemaking (the...more

A&O Shearman

SEC adopts amendments to Regulation S-P to address risks associated with the expanded use of technology

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On May 16, 2024, the U.S. Securities and Exchange Commission (“SEC”) adopted amendments to Regulation S-P (“Reg S-P”) that are intended to help protect investors’ privacy from the “expanded use of technology and corresponding...more

NAVEX

What a New SEC Enforcement Sweep Is Really Telling Us

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Attention all compliance officers at large technology companies – have you checked your mail lately? Because you might find a letter from the Securities and Exchange Commission with FCPA risk written all over it....more

Latham & Watkins LLP

Latham Texas Private Funds Breakfast Series SEC Updated Rules

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This spring Latham & Watkins lawyers provided guidance on the US Securities and Exchange Commission’s (SEC’s) new rules for private fund advisers at the firm’s inaugural Texas Private Funds Breakfast Series in Houston....more

Davis Wright Tremaine LLP

Broadcasters Need To Pay Heed to FCC's EEO Requirements

The Federal Communications Commission recently reinstated commercial and noncommercial television and radio broadcasters' obligation to annually report workforce composition data, including the gender, race, and ethnicity of...more

Mitratech Holdings, Inc

How Long Do You Need to Keep I-9 Forms?

Employment documentation is a daunting task for HR leaders and business owners. However, there are few documents that cause quite as much confusion as the I-9 form....more

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