News from the economy, politics and the financial markets
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Cyberattack and the Risk to Wire Transfers
October is Cybersecurity Awareness Month, the perfect time to provide some common-sense tips to avoid a common risk facing businesses: business email compromise and wire fraud. Businesses of all shapes and sizes use email, and those accounts are susceptible to attempts to trick employees into providing sensitive information or sending money....By: Levenfeld Pearlstein, LLC
[Video] Culture Crafters - Ethics Culture Divide, Part 3 - Building and Sustaining an Ethical Culture in Organizations
In this third episode of a 3-part podcast series, Tom Fox and Sam Silverstein discuss the critical divide in companies around Ethics and Culture. This series is based on data from a national survey of over a thousand people, highlighting the divide between high and low-performing companies in terms of ethics. Today, the focus shifts to the importance of fostering an ethical culture within organizations. The discussion starts with survey findings showing that, even in good cultures, 39% of...By: Thomas Fox - Compliance Evangelist
[Audio] Point-of-Sale Finance Series: Navigating Merchant and Dealer Contracting - The Consumer Finance Podcast
In this engaging crossover episode of The Consumer Finance Podcast and Payments Pros, host Taylor Gess is joined by colleagues Jason Cover, Andrew Thurmond, and Samer Roshdy to explore the complexities of contracting with merchants and dealers in the point-of-sale finance sector. The discussion highlights the diverse needs of merchants and finance administrators, the impact of industry-specific regulations, and the importance of clear contractual terms. Discover the common pain points in...By: Troutman Pepper Locke
The Capital Market Authority Introduces a New Category of Funds in Saudi Arabia
On 7 October 2025, the Capital Market Authority (CMA) of Saudi Arabia issued the Draft Instructions of Simplified Investment Funds and proposed amendments to the Glossary of Defined Terms Used in The Regulations and Rules of The Capital Market Authority (the “Glossary”) for public consultation. This initiative is part of the CMA’s broader strategy to enhance the attractiveness of the asset management sector in the Kingdom by introducing a more flexible and cost-efficient framework for investment...By: King & Spalding
[Video] AI Today in 5: October 23, 2025, The AI that Matters Edition
Welcome to AI Today in 5, the newest edition to the Compliance Podcast Network. Each day, Tom Fox will bring you 5 stories about AI to start your day. Sit back, enjoy a cup of morning coffee, and listen in to the AI Today In 5. All, from the Compliance Podcast Network. Each day, we consider four stories from the business world, compliance, ethics, risk management, leadership, or general interest that pertain to AI. Top AI stories include: • Meta is cutting AI jobs to speed production....By: Thomas Fox - Compliance Evangelist
Navigating PE secondaries: Structures, strategies and Guernsey’s role
Despite ongoing geopolitical uncertainty, signs of recovery are emerging in the private equity market. With liquidity remaining the key focus, the private equity market has seen innovation in investment fund strategies and transaction structures, with an uptick in alternative investment....By: Walkers
[Video] Daily Compliance News: October 23, 2025, The Stay in Your Lane Edition
Welcome to the Daily Compliance News. Each day, Tom Fox, the Voice of Compliance, brings you compliance-related stories to start your day. Sit back, enjoy a cup of morning coffee, and listen to the Daily Compliance News—all from the Compliance Podcast Network. Each day, we consider four stories from the business world: compliance, ethics, risk management, leadership, or general interest, all relevant to the compliance professional. Top stories include: • More on BCG protocols. (WSJ):...By: Thomas Fox - Compliance Evangelist
FSB Publishes Report on Monitoring AI Adoption and Related Vulnerabilities in the Financial Sector
The Financial Stability Board (FSB) has published a report examining how financial authorities can monitor the adoption of AI and assess related vulnerabilities. Building on its 2024 report and drawing on insights from a member survey on AI monitoring approaches, alongside other sources, the FSB highlights that while AI presents potential benefits such as enhanced efficiency, improved regulatory compliance, advanced data analytics and more personalised financial products, many financial...By: A&O Shearman
BIS Publishes Report on the Use of AI for Policy Purposes
The Bank for International Settlements (BIS) has published a report examining how central banks, financial regulators and supervisory authorities are increasingly leveraging AI, including generative AI and large language models, for policy purposes. The report outlines the transformative impact of AI on managing large datasets and complex decision-making processes, with real-world examples illustrating how big data and machine learning are transforming key areas of work across monetary and...By: A&O Shearman
EU Weighs in on Pseudonymized Data
A thorny issue for companies has been how to handle data derived from personal information. Is it still personal information? Do privacy laws apply? The EU Court of Justice of grappled with this issue in a September decision. The case arose following a Spanish bank’s financial difficulties....By: Sheppard Mullin Richter & Hampton LLP
UK DRCF Launches New Thematic Innovation Hub and Publishes Call for Views on Agentic AI
The Digital Regulation Cooperation Forum (DRCF) has announced the launch of its new Thematic Innovation Hub. Building on the success of the AI and Digital Hub pilot, the Thematic Hub will provide tailored regulatory advice on priority topics, with its first thematic focus centred on agentic AI – AI systems capable of autonomous decision-making and initiating actions without direct human prompts. As part of this new approach, the DRCF has also published a "call for views" seeking input on the...By: A&O Shearman
FSB Publishes Consolidated Progress Report for G20 Roadmap on Cross-Border Payments
The Financial Stability Board (FSB) has published its consolidated progress report on the G20 Roadmap for Enhancing Cross-Border Payments. While notable policy milestones have been achieved since the roadmap's launch in 2020, the report highlights that these efforts have yet to yield meaningful improvements for end-users globally. Key performance indicators for 2025 show only a slight improvement since 2023, with improvements in the speed of wholesale payments and remittances, but challenges...By: A&O Shearman
UK FCA Finalises Rules on the MiFID Organisational Regulation
The UK Financial Conduct Authority (FCA) has published policy statement PS25/13, finalising the transfer of firm-facing requirements from the UK version of the Markets in Financial Instruments Directive Organisational Regulation (MiFID Org Reg) into the FCA Handbook. This follows the FCA's November 2024 consultation and Chapter 4 of Quarterly Consultation No 44 on the transfer of those requirements, as well as HM Treasury's publication of the Markets in Financial Instruments (Miscellaneous...By: A&O Shearman
Crypto Industry to Senate: Trick or Treat, Any Tax Cuts to Eat?
On October 1, 2025, the Senate Finance Committee held a hearing on cryptocurrency taxation (the “Hearing”), which followed a similar hearing held by the House Ways and Means Committee in July that we summarized here. Representatives from the cryptocurrency industry, including Coinbase and Coin Center, testified about various cryptocurrency tax issues and criticized perceived flaws in the current federal framework for taxing cryptocurrency....By: Cadwalader, Wickersham & Taft LLP
2025 Retirement Plan Year-End Amendments and Operational Compliance
With the leaves changing colors and the holidays around the corner, it’s time for retirement plan sponsors to review their plan documents to comply with year-end amendment deadlines, confirm operational compliance with changes in law, and satisfy participant notice requirements. ...By: Groom Law Group, Chartered
OFAC Whistleblowing: Exposing Sanctions Violations Under U.S. Law
The Office of Foreign Assets Control (OFAC) stands among the most influential arms of the U.S. Department of the Treasury, charged with administering and enforcing economic and trade sanctions that safeguard national security, foreign policy, and financial integrity....By: Friling Law
Important Guidance on Third-Party Service Provider Cyber Risk
All businesses struggle with cybersecurity risks presented by their service providers. New guidance from the NY DFS applies to all DFS licensees, but would assist any business in any industry in addressing these risks....By: Troutman Pepper Locke
DOL Issues Lifetime Income Guidance for Default Investments
In welcome news for plan sponsors and other fiduciaries considering lifetime income solutions for their defined contribution (“DC”) plans, the Department of Labor (“DOL”) recently issued Advisory Opinion 2025-04A (“AO”) to clarify how a guaranteed lifetime income product can be used as a qualified default investment alternative (“QDIA”). ...By: Groom Law Group, Chartered
Third Circuit Upholds PBGC Special Financial Assistance Regulations and Enforces an Employer’s Agreement Regarding Withdrawal Liability
On September 16, 2025, the United States Court of Appeals for the Third Circuit in In re Yellow Corp., No. 25-1421: (i) upheld regulations issued by the Pension Benefit Guaranty Corporation (“PBGC”) that partially exclude Special Financial Assistance (“SFA”) received by multiemployer pension plans from the calculation of withdrawal liability...By: Groom Law Group, Chartered
[Video] Great Women in Compliance: Turning Conversations into Compliance Intelligence with Anna Pitt-Stanley
In this episode of Great Women in Compliance, co-host Hemma Lomax sits down with Anna Pitt-Stanley, Co-Founder and COO of Umony, to explore how the next generation of compliance technology can transform how organizations listen to their people, their culture, and their risk signals. From her early work in voice innovation to co-founding Umony, Anna’s journey is rooted in a simple but powerful idea: that the truth of human behavior lives in communication. She and her co-founder, Dean Elwood,...By: Thomas Fox - Compliance Evangelist
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