The Biden administration has nominated Gary Gensler to chair the US Securities and Exchange Commission (SEC), signalling a return to tougher regulation and enforcement for the agency.
On August 8 the Securities and Exchange Commission (SEC) published a proposed amendment, the Modernization of Regulation S-K, which aims to revise and modernise Regulation S-K, which governs a host of non-financial disclosures by US registrants.
In a significant step forward for municipal reporting standards this week the California Assembly passed a bill that will set the state on the path to machine-readable reporting.
July 18 saw the SEC Staff Roundtable discussing short-termism in public companies and whether the periodic reporting system needs altering to encourage long-term thinking. SEC Chairman Jay Clayton made some salient remarks in his closing comments, highlighting how investment decisions both long and short term rely substantially on timely and high-quality disclosures. To move forward, […]
California could be on their way to join Florida in leading America’s state and local government towards transparent, easily accessed financial statements. The Open Financial Statement’s Act, SB 598, which has passed in the Senate and is soon to go to Senate Assembly, is the latest in a long trail of small steps towards local […]
Encouraging news for transparency in the US this week as the Open, Public, Electronic, and Necessary (OPEN) Government Data Act was signed into law on 14 January. The sweeping, bipartisan legislation will make vast amounts of federal government data much more accessible and usable. It requires federal agencies, wherever possible, to release all non-sensitive information […]
This week a group of US regulators have announced that they will not penalise banks that use artificial intelligence tools to find gaps in existing anti-money laundering programmes. The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation (FDIC), the Financial Crimes Enforcement Network (FinCEN), the National Credit Union Administration, and […]