US Regulators Ease Compliance and Risk Controls for Citigroup
The US regulator has eased some compliance requirements for Citigroup, potentially reducing regulatory burdens on the bank.
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Compliance
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Strava and Garmin Clash Sparks Concerns Among Runners and Cyclists
Strava plans to comply with Garmin's API attribution requirements by November 1, despite previous pushback and a lawsuit, indicating potential app updates to include Garmin attribution in line with Garmin's brand guidelines, while continuing negotiations.
FinCEN Delays Residential Real Estate Reporting to March 2026
FinCEN has postponed the reporting requirements of the Anti-Money Laundering Regulations for Residential Real Estate Transfers until March 1, 2026, to reduce industry compliance burden while maintaining financial system protections.
NCAA report reveals Michigan football's compliance issues and internal conflicts
The NCAA report reveals a contentious relationship between Michigan football coach Jim Harbaugh and the school's compliance department in 2023, highlighting disregard for rules, resistance from the football program, and penalties including a 10-year show-cause order for Harbaugh, amid ongoing investigations into sign-stealing and recruiting violations.
NFL fines over 100 players and staff for Super Bowl ticket scalping
The NFL fined over 100 players and several staff for selling Super Bowl tickets above face value, with stricter enforcement and increased penalties planned for future violations, emphasizing the league's stance against ticket scalping.
SEC Considers Crypto Regulations and Retirement Investment Guidelines
The US SEC is engaging with industry players to develop a standard, like ERC-3643, for compliant issuance and transfer of tokenized securities on Ethereum, showing a more open stance towards industry-led standards and tokenization.
Reactions to Wall Street Journal's July 9 Article
The company defends its Medicare Advantage operations against a Wall Street Journal article, emphasizing its compliance with federal regulations, positive audit results, and commitment to transparency, while highlighting ongoing efforts to improve oversight and deliver better outcomes for seniors.
OKX Faces Compliance Challenges and Apologizes to Users
OKX, a major crypto exchange, faces user complaints over account freezes and strict compliance measures, with its CEO acknowledging high false-positive rates in its risk control system. The company is under increased regulatory scrutiny, especially in the U.S., and is working to improve user experience while maintaining compliance.
Super Micro Stock Surges Amid AI Market Excitement
Super Micro Computer's stock surged 12% on Friday, capping a week with nearly 80% gains following a positive mention by Nvidia during its earnings call and a compliance plan to avoid delisting. Despite the rise, the stock remains over 70% below its March highs due to regulatory concerns. The compliance plan, which includes filing overdue reports, awaits Nasdaq approval, expected to take two to five weeks.
Super Micro Stock Volatile Amid Nasdaq Compliance and New Auditor Announcement
Super Micro Computer (SMCI) is facing potential delisting from the Nasdaq exchange after failing to comply with listing rule 5250(C)(1) due to delays in filing its financial statements. Despite receiving a notification from Nasdaq, the company's stock will continue trading for now, and it plans to appeal the decision. The compliance issues follow a critical report by Hindenburg Research, prompting Super Micro to delay its annual report filing and appoint a new auditor.
Super Micro Stock Rallies on Nasdaq Compliance Plan and New Auditor
Super Micro Computer's stock surged over 28% in extended trading after the company appointed BDO USA as its new auditor and submitted a compliance plan to avoid delisting by Nasdaq. This move follows a warning from Nasdaq regarding a delayed annual report and previous concerns over the company's accounting practices, highlighted by a report from short seller Hindenburg. The stock had been under pressure due to these regulatory concerns, despite earlier gains from AI infrastructure demand.
"Texas DEI Ban Reshapes University Policies and Student Resources"
Texas universities are making significant changes to comply with the state's DEI ban, including closing multicultural offices, reassigning DEI staff, and altering training programs. These steps are necessary to maintain state funding and avoid legal consequences. Universities are also navigating challenges in securing federal grants and maintaining accreditation while adhering to the new law. Lawmakers are monitoring compliance and may introduce further legislation if needed.
"Arkansas Governor's Office Under Scrutiny for $19,000 Lectern Purchase"
An audit of the Arkansas governor's office revealed potential non-compliance with state law in the purchase of a $19,000 lectern, including paying for it before delivery, improper record keeping, and shredding of important documents. The office defended its actions, stating that no laws were broken and the state was fully reimbursed with private funds. The audit has been forwarded to the Sixth Judicial District Prosecuting Attorney and the Attorney General for review.
"AI's Impact on Patent Practice and Intellectual Property Protection"
The USPTO has released new guidance on the use of AI tools in patent practice, emphasizing the need to mitigate risks through technical measures and human oversight. The guidance addresses the duty of candor and good faith, signature requirements, confidentiality, and national security considerations when using AI tools. It also provides specific examples of how the duty of disclosure may be implicated when using AI tools in patent applications. The guidance acknowledges the increasing reliance on AI-based tools in patent practice and emphasizes the importance of compliance with existing rules and policies.
"Cable ISP Hit with $10,000 Fine for FCC Deception on Broadband Coverage"
Jefferson County Cable, a small ISP, has been fined $10,000 by the FCC for falsely claiming to offer broadband service in an area it hadn't expanded to and for submitting inaccurate coverage data to prevent other ISPs from obtaining government grants. The company admitted to violating the Broadband Data Collection program requirements and the Broadband DATA Act. The FCC's investigation revealed that the ISP initially reported serving 8,178 addresses, which was later reduced to 6,605, still higher than its actual coverage. The ISP's false claims were exposed by a competitor who filed challenges at specific addresses, leading to the discovery of damning emails from a company executive.