Insights

OFAC Shakes Up Sanction Rules: Here’s What It Means for You!

The Office of Foreign Assets Control (OFAC) has amended its Reporting, Procedures, and Penalties Regulations, mandating electronic filing through the OFAC Reporting System for specific reports like blocked property and rejected transactions. The rule, effective August 8, 2024, also clarifies definitions, expands reporting requirements, and introduces a streamlined process for addressing property blocked in error. Comments are welcomed until June 10, 2024.

Read more

2024 Telemarketing Compliance: Understanding New TSR Requirements

The U.S. Telemarketing Sales Rule (TSR) was amended in April 2024 to enhance consumer protection and adapt to technological changes. Effective May 16, 2024, telemarketers and sellers must maintain detailed records of advertisements, call details, customer information, and consent for five years. These records aim to increase transparency and aid in identifying responsible parties and linking call content to regulations. Businesses must review their practices and update procedures to ensure compliance.

Read more

AI Washing: From Marketing Hype to Regulatory Crackdowns

AI washing is the misleading practice of rebranding products or services as AI-powered to capitalize on the technology’s hype. Companies do this for marketing, competitive, and investment advantages. Regulators like the SEC are cracking down on AI washing, particularly in the investment industry. Enforcement actions have been taken against firms making false AI claims. Other regulations like UDAP, UDAAP, and TSR also address false advertising. Companies should implement policies, be transparent, and monitor communications to avoid AI washing.

Read more

SEC Enhances Exemption Rules for Internet-Based Investment Advisers

The SEC amended the Internet Adviser Exemption, requiring advisors to provide investment advice exclusively through an operational interactive website. The de minimis exception for non-internet clients was removed. This change aims to modernize the exemption and address technological advancements in the industry. The amended rule takes effect on July 8, 2024, with a compliance deadline of March 31, 2025.

Read more
Compliance Core

Partner with Compliance Core

We’re happy to answer any questions you may have and help you determine which of our services best fit your needs.

Your benefits:
What happens next?
1

We Schedule a call at your convenience 

2

We do a discovery and consulting meting 

3

We prepare a proposal 

Request More Information