Category: Regulatory News

US Homeland Security Reveals Guide to Enhance Cyber Incident Reporting

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The US Department of Homeland Security (DHS) has introduced new recommendations to streamline the reporting of cyber incidents across the Department of Defense and 32 other federal agencies. The guide is expected to further protect the country’s vital infrastructure, reduce the burden on cybersecurity partners, and decrease the downtime of associated operations in each sector…

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Two founders behind Russian crypto mixer Tornado Cash charged by U.S. federal courts

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The two founders behind Tornado Cash, a Russian cryptocurrency mixing service, have been charged by the U.S. Attorney’s Office for the Southern District of New York, according to a statement on Wednesday. Roman Storm and Roman Semenov were officially charged with conspiracy to commit money laundering, conspiracy to commit sanctions violations and conspiracy to operate…

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Israeli pharma company Teva to pay $225M for cholesterol drug price-fixing; Glenmark to pay a $30 million criminal penalty

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WASHINGTON (AP) — The generic drug maker Teva Pharmaceuticals agreed Monday to pay $225 million to settle price-fixing charges related to sales of a major cholesterol-lowering drug. The U.S. Department of Justice said the agreement also requires Teva to divest its business making and selling the drug, pravastatin, a generic version of the brand-name medicine…

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Italy shocks banks with 40 percent tax on profits they reap from higher interest rates

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Italy has dealt a surprise blow to its banks and sent shock waves across the sector in Europe by setting a one-off 40 percent tax on profits reaped from higher interest rates, after reprimanding lenders for failing to reward deposits. Sharply higher official interest rates have yielded record profits for banks, as the cost of…

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Crypto firm Blockchain.com gets Singapore licence

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SINGAPORE – Cryptocurrency firm Blockchain.com has been granted a licence in its South-east Asian headquarters of Singapore that will allow it to expand its services to global institutional and accredited investors. The company was granted a major payment institution licence from the Monetary Authority of Singapore (MAS) on Aug 1. This comes less than a…

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SEC now requires companies to disclose cyberattacks in 4 days

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The U.S. Securities and Exchange Commission has adopted new rules requiring publicly traded companies to disclose cyberattacks within four business days after determining they’re material incidents. According to the Wall Street watchdog, material incidents are those that a public company’s shareholders would consider important. The SEC also adopted new regulations mandating foreign private issuers to…

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Security researchers latest to blast UK’s Online Safety Bill as encryption risk

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Nearly 70 IT security and privacy academics have added to the clamour of alarm over the damage the UK’s Online Safety Bill could wreak to, er, online safety unless it’s amended to ensure it does not undermine strong encryption. Writing in an open letter, 68 UK-affiliated security and privacy researchers have warned the draft legislation…

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Google Analytics data transfer to U.S. brings $1 million fine to Swedish firms

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The Swedish Authority for Privacy Protection (Integritetsskyddsmyndigheten – IMY) has fined two companies with 12.3 million SEK (€1 million/$1.1 million) for using Google Analytics and warned two others about the same practice. In a decision published yesterday, the agency explains that by using Google Analytics to generate web statistics the firms were breaching European Union’s…

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BNK Banking Corporation fined for breach of data reporting requirements

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The Australian Prudential Regulation Authority has slapped BNK Banking Corporation with a $247,500 fine for failing to meet its data reporting requirements to the APRA.  In a statement, the prudential regulator said BNK was 32 days late in filing statistical reports for the month ending Feb. 23 under the Economic and Financial Statistics program. This…

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Treasury ‘sleeping at the wheel’ on PwC tax scandal

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Treasury officials have been accused of being asleep at the wheel on breaches of confidential government information. Officials were grilled on their knowledge of potential breaches of confidential Treasury data by former PwC partner Peter Collins, who has been referred to federal police to investigate the allegations. Greens senator Barbara Pocock hit out at Treasury’s…

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