Saturday, October 19

Tag: Regulatory Bodies

FDIC Hires Law Firm Cleary Gottlieb to Handle Workplace Culture Review
12Dec By adminNo Comments
Money

FDIC Hires Law Firm Cleary Gottlieb to Handle Workplace Culture Review

A special committee at the Federal Deposit Insurance Corp. said it had hired the law firm Cleary Gottlieb Steen & Hamilton LLP to conduct a review into the workplace culture, replacing another previously hired law firm nearly a month after The Wall Street Journal revealed allegations of harassment and discrimination pervaded the agency.Led by former acting Manhattan U.S. Attorney Joon Kim, Cleary Gottlieb will examine allegations of sexual harassment and misconduct as well as other issues related to the workplace culture, including “any practices that might discourage or otherwise deter the reporting of, or appropriate response to, harassment and interpersonal misconduct,” the special committee said.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5edd...
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FDIC Hires Law Firm Cleary Gottlieb to Handle Workplace Culture Review
11Dec By adminNo Comments
World

FDIC Hires Law Firm Cleary Gottlieb to Handle Workplace Culture Review

A special committee at the Federal Deposit Insurance Corp. said it had hired the law firm Cleary Gottlieb Steen & Hamilton LLP to conduct a review into the workplace culture, replacing another previously hired law firm nearly a month after The Wall Street Journal revealed allegations of harassment and discrimination pervaded the agency.Led by former acting Manhattan U.S. Attorney Joon Kim, Cleary Gottlieb will examine allegations of sexual harassment and misconduct as well as other issues related to the workplace culture, including “any practices that might discourage or otherwise deter the reporting of, or appropriate response to, harassment and interpersonal misconduct,” the special committee said.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5edd...
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Microsoft-OpenAI Partnership Draws Scrutiny From U.K. Regulator
8Dec By adminNo Comments
World

Microsoft-OpenAI Partnership Draws Scrutiny From U.K. Regulator

Updated Dec. 8, 2023 12:15 pm ETU.K. regulators said they are examining Microsoft’s partnership with OpenAI, marking a first push by one of the world’s most influential competition authorities to scrutinize the relationship between the tech giant and the artificial-intelligence company behind ChatGPT.Britain’s Competition and Markets Authority said Friday that it is seeking feedback on whether the partnership should be considered a de facto merger, in an initial step that could lead to a formal investigation.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Binance Copped a $4 Billion Plea but Is Still Fighting the SEC
4Dec By adminNo Comments
Money

Binance Copped a $4 Billion Plea but Is Still Fighting the SEC

WASHINGTON—When top Biden administration officials gathered last month at the Justice Department to announce a $4.3 billion legal resolution with Binance, one powerful regulator was absent.Attorney General Merrick Garland was there. So was Treasury Secretary Janet Yellen. But Securities and Exchange Commission Chair Gary Gensler wasn’t, even though he has his own legal beef with Binance. The SEC sued the world’s largest cryptocurrency exchange in June and has been the regulatory scourge of the crypto world.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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FDIC Faces More Demands for Evidence of Toxic Culture at Bank Regulator
29Nov By adminNo Comments
World

FDIC Faces More Demands for Evidence of Toxic Culture at Bank Regulator

Nov. 29, 2023 10:00 am ETPressure on the Federal Deposit Insurance Corp. over allegations of a toxic work environment mounted this week, as the agency’s internal watchdog launched its own inquiry and a Republican senator requested records related to settlements and nondisclosure agreements.The FDIC’s inspector general will examine the “leadership climate at the FDIC with regard to all forms of harassment and inappropriate behavior,” a spokeswoman said. The IG will also assess the agency’s sexual harassment prevention program, including looking at what steps the FDIC has taken since a 2020 IG report found that program was flawed.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Amazon Deal for iRobot May Restrict Competition, European Commission Says
27Nov By adminNo Comments
World

Amazon Deal for iRobot May Restrict Competition, European Commission Says

Updated Nov. 27, 2023 1:32 pm ETThe European Commission said Monday that Amazon’s proposed deal to buy Roomba-maker iRobot may limit competition in the robot vacuum cleaner market.European regulators said that they had informed Amazon of the commission’s preliminary view following an investigation of the proposed acquisition.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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The Supreme Court Considers the Right to Trial by Jury
27Nov By adminNo Comments
World

The Supreme Court Considers the Right to Trial by Jury

The Supreme Court on Wednesday will hear the first of two landmark cases this term challenging the runaway administrative state. At stake in SEC v. Jarkesy is a bedrock constitutional principle that colonists fought to defend in the American revolution: the right to a trial by jury.Congress in recent decades has expanded the enforcement powers of administrative agencies. The 2010 Dodd-Frank Act granted the Securities and Exchange Commission unbridled power to seek penalties administratively against any individual for violating securities laws. Democrats wanted to make it easier for the agency to punish misconduct. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Natural-Gas Pipelines Are Old. Will Regulators Let Utilities Invest in Them?
25Nov By adminNo Comments
World

Natural-Gas Pipelines Are Old. Will Regulators Let Utilities Invest in Them?

Utilities across the country are trying to boost spending to maintain aging natural-gas pipelines. Regulators in some Democratic states seeking to limit gas use are saying not so fast.Companies including PG&E, Consolidated Edison and Public Service Enterprise Group have proposed investing billions of dollars to bolster their pipeline networks, which will remain in use for years even as more customers use electricity to cook and heat their homes. They say such spending is necessary in part to maintain safety and reliability as they work to shrink their gas systems over time. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Republicans Heap Pressure on FDIC’s Gruenberg Over Claims of Toxic Workplace 
17Nov By adminNo Comments
World

Republicans Heap Pressure on FDIC’s Gruenberg Over Claims of Toxic Workplace 

Updated Nov. 16, 2023 7:15 pm ETWASHINGTON—Republican senators called for Federal Deposit Insurance Corp. Chairman Martin Gruenberg to resign, while the GOP members of the agency’s board called for him to recuse himself from an investigation into allegations of a toxic workplace at the bank regulator.The comments came after The Wall Street Journal reported on allegations that Gruenberg had turned a blind eye to misconduct at the agency and revealed that the work environment had driven many female bank examiners to quit over the years. The agency canceled a public meeting of its board that had been scheduled for Thursday. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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