INSIDE COMPLIANCE – Page 16 – Loyola University Chicago School of Law

“Fairness” Over Inclusion: Pushing Trans Athletes Out of Competitive Sports

April 18, 2023Athletic Regulation

The fight for inclusion and equality in sports has been a long and ongoing battle. In recent years, the participation of transgender athletes at the professional level has been one of the most contentious issues. Even as countries like the US have made strides to advance equality for transgendered people, the world of athletics has struggled to find a way of allowing trans athletes to participate while assuaging claims of unfairness and safety concerns. With their decision to ban all trans athletes from participating in women’s sports, World Athletics – which governs track and field worldwide – has once again brought this hotly debated issue to the forefront. The decision has raised questions about the future of transgender athletes in sports and highlights the ongoing challenges they face in achieving full inclusion and equality.

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Time to Rethink Corporate Compliance amid DOJ’s New Guidelines

April 14, 2023Uncategorized

The U.S. Department of Justice (DOJ) announced significant changes to its Evaluation of Corporate Compliance Programs (ECCP) on March 2, 2023, at the American Bar Association’s National Institute on White Collar Crime. By investigating deeper into companies’ compliance programs, DOJ now provides new stricter guidelines and emphasizes its vigilance and the level of commitment expected from companies. The latest announcement illustrates DOJ’s continued emphasis on company policies regarding compliance incentives and disincentives in executive compensation and the preservation of company communications made via personal devices and instant messaging applications.

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SEC Proposes Changes to Adviser Custody Rule

April 14, 2023Adviser

On February 15, 2023, the Securities and Exchange Commission (SEC) proposed an enhanced safeguarding rule for registered investment advisers (RIAs) under the Investment Advisers Act of 1940. The proposal would require RIAs to implement certain additional measures to protect their clients’ assets from theft or misuse. Additionally, to combat the growing concerns around cryptocurrency and to modernize the Advisers Act, the SEC proposal would expand protection to all assets, not just funds or securities.

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Ninth Increase in Banking Interest Rates

April 14, 2023Uncategorized

Taelor Thornton Associate Editor Loyola University Chicago School of Law, JD 2024 During this long battle with inflation, the Federal Reserve (the Fed) has now raised the interest rates by a quarter for the ninth time in a year. In February 2023, the Fed increased the rates by a quarter from 4.75% to 5%. Rates …
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Journal of Regulatory Compliance

Democrats in Washington Push For Stronger Banking Regulations

April 14, 2023Finance & Banking

The Biden Administration acted strongly last month in response to the recent collapses of Silicon Valley Bank (SVB) and Signature Bank. Each collapse sent shockwaves through the U.S. banking system and shook the confidence of consumers nationwide. The Biden Administration showed swift and steady leadership in urgently addressing the crisis. The President and leading Democrats in Congress continue to push for stronger regulatory oversight with respect to the banks. This shows that the Democrats are on the right side of the banking issue, as they have been for the 16 years following the 2008 financial crisis.

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The External and Internal Causes of SVB’s Collapse and the Role of Regulators

April 13, 2023Finance & Banking

Megan Aldworth Associate Editor Loyola University Chicago School of Law, JD 2023 Silicon Valley Bank (SVB) started in Silicon Valley in 1983 and found a booming growth in tandem with the tech industry and venture capital. At its collapse, which spanned over 48 hours and started on the eve of March 8, it was …
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Senate Enjoys Rare Bipartisan Moment, Seeks to Punish Silicon Valley Bank Executives

April 13, 2023Uncategorized

n March 17, 2023, following the second-largest bank collapse in U.S. history, President Biden released a statement urging Congress to allow financial regulators to impose tougher penalties on the executives of failed banks. Encouragingly, on March 29–just twelve days later–the Senate proposed bipartisan legislation, dubbed the Failed Bank Executives Clawback Act (FBECA), which would grant the Federal Deposit Insurance Corporation (FDIC) clawback authority to confiscate all or part of the compensation received by bank executives in the five years leading up a bank’s failure.

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The Downfall of Cryptocurrency, and Celebrities

April 12, 2023Uncategorized

Cryptocurrency entered the mainstream economy in 2013 when Forbes listed Bitcoin as the best investment of that year, calling 2013 the “year of the bitcoin.” Then, in 2014, Bloomberg News made the statement that Bitcoin was one of the year’s worst investments. Since these early days, citizens and economists alike have remained skeptical of Bitcoin and other cryptocurrencies. Over the past few years, celebrities have gotten increasingly involved in “pushing cryptocurrency and non-fungible tokens at a speed once reserved for viral dances,” according to the Washington Post. In the wake of recent events, the Securities and Exchange Commission is beginning to crack down on celebrity endorsement that has gone too far.

BitcoinCryptocurrencyfraudSEC

FDA’s Role in Food Chemical Safety

April 12, 2023Food and Drug Law

The U.S. Food and Drug Administration (FDA) protects people from exposure to adverse chemicals in food through the implementation of rigorous regulations. The FDA can do so through the close evaluation of the use of chemicals as food ingredients and the substances that come into contact with food, as well as the broad monitoring of the food supply for chemical contaminants. This can include the food packaging process, storage process, and other handling measures.

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Growing Banking Crisis: Silicon Valley Bank Failure

April 7, 2023Uncategorized

Founded in 1983, Silicon Valley Bank (SVB) is a midsize California-based lender that shook the foundation of the entire global financial system. Regulators closed SVB on March 10, making it the largest bank failure since the 2008 financial crisis and the second largest in U.S. history. While SVB offered various services from standard checking accounts to loans, it was primarily home to venture capitalists in the tech industry. Therefore, the majority of the corporate deposits were larger than the Federal Deposit Insurance Corporation’s (FDIC) $250,000 insurance limit, leaving over $150 billion in uninsured deposits at the end of 2022. The sudden collapse caused a frenzy leaving companies and investors vulnerable having already experienced mass layoffs in the tech industry.

BankingBanking RegulationBanking/FinanceDepartment of JusticeDOJFDICFederal ReserveFTCSEC