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GRIP Extra: Gensler and Lizárraga out at SEC, Hwang gets 18 years
Other news includes Microsoft state cyberattack appeals, greenwashing claims against Canadian banks, Northvolt files for bankruptcy and Chinese firms expand California presence.
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GRIP Extra: Cash app Dave in regulatory cross-hairs, Shell wins appeal
Other news includes obesity crisis in America, CFTC awards to whistleblowers, COP29 tensions and pension reforms in the UK.
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Canada’s consumer regulator fines TD bank over rebate failures
The relatively small fine is added to a list of massive penalties the beleaguered Canadian bank has recently sustained.
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OPINION: It’s not the system, it’s the people – TD Bank scandal through a different lens
Stop blaming inferior AML software and arrest the individual responsible for the crime, says former federal agent Robert Mazur.
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GRIP Extra – TD ratings downgraded, the UK focuses on growth
Also in the news this week performance needs to improve at Boeing, 100m people affected by UnitedHealth data breach, Intel wins big in the EU courts and a hefty fine for LinkedIn.
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SEC, CFTC ding 12 firms for recordkeeping violations – dissenting voices get louder
The fines totalled over $115m – with one firm dodging the bullet but still finding sympathy from two dissenting commissioners.
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Is TD Bank’s massive fine yet another Band-Aid on a broken AML system?
Failure to prevent being used as a conduit for laundering money – despite its investment in AML technology – could see the bank fined $4 billion.
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Can we regulate our way to an AI we can trust?
Regulation could be the means to assuage worries about where AI could take us – but how we regulate is still the cause of much debate.