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OCC revises guidelines on recovery planning standards for certain banks
OCC expands recovery planning guidelines’ applicability, incorporates testing standard for recovery plans, and clarifies role of nonfinancial risk.
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SEC charges four companies for underreporting Sunburst data breach damage
The four settlements come nearly one year after the SEC sued SolarWinds for misleading investors about its cybersecurity controls.
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CFPB finalizes open banking rules for consumer data
The CFPB finalized “open banking” rules designed to allow consumers to control and share their own data when shopping for services.
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Axiom Bank ordered to revamp its compliance with BSA/AML rules
OCC cites lack of processes designed to detect suspicious activity.
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Podcast: Laura Rabinowitz on the Uyghur Forced Labor Prevention Act
We spoke about how the UFLPA has greatly changed the scope of due diligence importing businesses were doing before.
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SEC releases fiscal year 2025 examination priorities
Emerging risk areas (such as AI), plus cybersecurity, crypto and AML in focus as we dig deep into Examination Priorities document.
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NYDFS publishes industry letter on cybersecurity risk arising from AI
The guidance does not impose new requirements, it helps DFS-regulated institutions meet their existing obligations in light of evolving risks from AI.
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Raytheon to pay $950m for FCPA, export control allegations
The DOJ alleged Raytheon defrauded DOD into paying over $111m more than it should have in contracts to buy Patriot missile systems and operate radar.