The Treasury Department reported on the state of AI-cybersecurity risk and recommended that financial institutions broaden risk management and cybersecurity practices, consider greater integration of AI solutions into cybersecurity practices and collaborate on threat information sharing.
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SEC Chair Gary Gensler criticized "those who seek to reduce information available to investors," including crypto industry participants who attempt to avoid registration and required disclosure requirements.
In an administrative ruling, FinCEN clarified that broker-dealers were required to collect information when opening new accounts for customers who receive assets as the beneficiary of an estate.
Two affiliated broker-dealers settled FINRA charges for lacking reasonable cybersecurity controls at branch offices. The failures resulted in multiple incidents that exposed thousands of customers' personal information.
A footwear company settled with the SEC for failing to make required disclosures of related person transactions in its annual reports and proxy statements.