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National Security Securities and Exchange Commission (SEC)

DLA Piper

National Security Risks Headline New AML Requirements for Investment Advisers – and More to Come?

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Last week, the US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a widely anticipated final rule to police the estimated $125 trillion-plus investment adviser market. The new rule extends...more

Pillsbury - Internet & Social Media Law Blog

From Encryption to Employment, U.S. Federal Agencies Brace for the Effects of Quantum Computing, AI and More

In this week’s edition of Consumer Protection Dispatch, we look at the latest regulatory developments from the U.S. Department of Commerce, Consumer Financial Protection Bureau, and the Securities and Exchange Commission...more

Dechert LLP

Treasury Proposes Investment Advisers AML/CFT Program Rule

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Treasury proposed a new rule that would require investment advisers to establish an AML/CFT program and file certain reports, such as Suspicious Activity Reports (SARs), with FinCEN (Proposed Rule). The Proposed Rule...more

Guidepost Solutions LLC

Emerging Expectations from the Latest Enforcement Actions Over Off-Channel Communications

Since December 2021, the U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have levied almost $3.0 billion in penalties for longstanding failures by 39 broker-dealers, swap dealers,...more

BakerHostetler

Corporate Transparency Act Declared Unconstitutional: How Does This Impact Your Company?

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On Mar. 1, 2024, a federal district judge in Alabama ruled that the CTA is unconstitutional, holding that it exceeds the powers granted to Congress by the U.S. Constitution. The ruling permanently enjoins FinCEN from...more

K2 Integrity

Proposed Rule to Impose Anti-Money Laundering Requirements on Investment Advisers

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On 13 February 2024, the Financial Crimes Enforcement Network (FinCEN) issued a groundbreaking Notice of Proposed Rulemaking (NPRM) to combat illicit finance and national security threats in the investment adviser sector. The...more

Jenner & Block

Client Alert: Unfinished Business: Investment Advisers Are Potentially Back on the Hook for Anti-Money-Laundering and...

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In its latest attempt, the U.S. Department of Treasury, Financial Crimes Enforcement Network (“FinCEN”), will require certain investment advisers to implement compliance measures to detect and report suspected money...more

White & Case LLP

FinCEN Again Proposes Sweeping AML Requirements for Registered Investment Advisers & ERAs

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On February 13, 2024, FinCEN proposed a long-awaited rule to combat illicit finance and national security threats in the asset management industry. The new rule would impose similar requirements on investment advisers that...more

Sheppard Mullin Richter & Hampton LLP

For Limited Use Only: Guidance on National Security Delay Determinations under the SEC Cyber Reporting Rule

On December 12, 2023, the Department of Justice (“DOJ”) issued guidance related to the process by which companies may request the United States Attorney General authorize delays of cyber incident disclosures, pursuant to a...more

The Volkov Law Group

Lessons Learned from the SAP Enforcement Action — DOJ Changes Tack on FCPA Enforcement While SEC Digs into Third-Party Controls...

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A careful reading of the DOJ and SEC settlement documents for the SAP case will puzzle you.  I know I am scratching my head trying to make sense of the whole picture here.  There are a number of significant indicators of a...more

Pillsbury Winthrop Shaw Pittman LLP

The Crossroads of Cybersecurity and National Security: Delaying Disclosure of Incidents under the SEC’s New Cybersecurity Rule

In recent guidance, the Department of Justice made clear that it will very rarely grant an extension of registrants’ deadline to disclose material cybersecurity incidents under the SEC’s Final Rules. Under the Securities and...more

King & Spalding

FBI and DOJ Offer Guidance on SEC Cybersecurity Incident Disclosure Rules

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On December 18, 2023, new cybersecurity rules adopted by the U.S. Securities and Exchange Commission (SEC) became effective. Among other things, those rules require SEC registrants to disclose certain information about...more

Foley & Lardner LLP

The Not-So-Wild West of AI Regulation

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Over the past year, we have seen the various agencies and branches of government issue a slew of rules, guidance, and directives over the use (and misuse) of Artificial Intelligence (AI). In May, the EEOC issued guidance on...more

Faegre Drinker Biddle & Reath LLP

DOJ & FBI Issue New Guidelines for Delayed Reporting of Cyber Incidents to the SEC

Under the Securities and Exchange Commission’s (SEC) new Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure rule (cybersecurity rule), public companies subject to the cybersecurity rule must promptly...more

Skadden, Arps, Slate, Meagher & Flom LLP

2024 Insights: Other Regulatory Developments

AI in 2024: Monitoring New Regulation and Staying in Compliance With Existing Laws Companies that develop or employ AI tools have to consider proposed AI-specific regulation as well as an array of existing IP, privacy,...more

Alston & Bird

SEC’s Cybersecurity Rules – SEC Issues Guidance and DOJ Establishes Processes for the National Security or Public Safety Exception

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Our Securities and Privacy, Cyber & Data Strategy teams unpack the Department of Justice’s (DOJ) process for companies seeking to delay Form 8-K disclosures under the Securities and Exchange Commission’s (SEC) cybersecurity...more

Paul Hastings LLP

Public Company Watch: December 2023

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In the December Public Company Watch, we cover key issues impacting public companies, including a preview of the SEC’s latest regulatory agenda, an update regarding the Fifth Circuit vacating the SEC’s share repurchase rules,...more

Dechert LLP

White House Issues Sweeping Executive Order on AI: Key Takeaways

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President Biden’s recent Executive Order on Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence: Establishes a federal government-wide effort to mitigate risks of improper AI development and use. ...more

Wiley Rein LLP

SEC Breach Reporting Rules Effective as of December 18

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For most filers, the U.S. Securities and Exchange Commission’s (SEC) new Form 8-K rules for reporting material cybersecurity incidents took effect yesterday, December 18, 2023. The rule has been controversial and created some...more

Wiley Rein LLP

Cyber Incident Reporting Guidance: DOJ Explains How It Will Determine if a Public Disclosure Poses Substantial National Security...

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The cyber reporting landscape is rapidly shifting. Many agencies are developing rules, and a major player has been the U.S. Securities and Exchange Commission (SEC), with important questions arising about implementation of...more

Proskauer Rose LLP

Wealth Management Update - December 2023

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Shining a Light on the Corporate Transparency Act: FinCEN’s Rules for Beneficial Ownership Reporting - On January 1, 2021, Congress enacted the Corporate Transparency Act (the “CTA”) as part of the Anti-Money Laundering...more

Wiley Rein LLP

SEC Cyber Reporting Mandates: How to Request a National Security or Public Safety Delay

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On December 18, the Securities and Exchange Commission's (SEC) new disclosure requirements go into effect and will require public companies to publicly report material cybersecurity incidents within four days of making a...more

Kohrman Jackson & Krantz LLP

SEC Adopts New and Burdensome Cybersecurity Disclosure Rules

The Securities and Exchange Commission (SEC) recently adopted rules requiring public companies to quickly disclose “material cybersecurity incidents” and to annually disclose material information regarding a company’s...more

Morrison & Foerster LLP

Top 10 International Anti-Corruption Developments for August 2023

Designed for busy in-house counsel, compliance professionals, and anti-corruption lawyers, this newsletter summarizes some of the most important international anti-corruption law and enforcement developments from the past...more

Paul Hastings LLP

SEC Cyber Rules Published in Federal Register

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The SEC’s Cybersecurity Risk Management Strategy, Governance, and Incident Disclosure Rules were officially published in the Federal Register on August 4, 2023 and go into effect on September 5, 2023....more

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