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Clear compliance writing and responsible AI use are ‘key to managing financial risk’
Writing for Reuters, attorney Ola M. Tucker emphasizes that financial institutions must prioritize plain-language compliance writing and responsible use of artificial intelligence (AI) to reduce regulatory risk. Effective compliance programs require clear, actionable documentation that employees can understand and implement – especially under increasing regulatory scrutiny. Recent enforcement actions, such as the $1.3bn fine against…
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Trump threatens 100% tariffs on Canada over China trade deal
President Donald Trump has threatened to impose a 100% tariff on all Canadian exports to the U.S. if Canada proceeds with its recent trade agreement with China, intensifying tensions between the two allies. The limited deal, announced by Prime Minister Mark Carney, includes the easing of tariffs on Chinese electric vehicles and agricultural goods, and…
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TikTok finalizes U.S. JV to avoid ban, as ByteDance cuts stake below 20%
TikTok owner ByteDance has finalized a deal to create a majority American-owned joint venture, TikTok USDS Joint Venture LLC, designed to secure U.S. user data and prevent a U.S. ban of the app. Under the agreement, American and global investors will hold 80.1%, while ByteDance retains 19.9%. Oracle, Silver Lake and Abu Dhabi-based MGX will…
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Supreme Court appears skeptical of Trump’s bid to fire Fed’s Cook
Supreme Court justices yesterday appeared skeptical of President Donald Trump’s efforts to sack Federal Reserve governor Lisa Cook. Trump moved to fire Cook in August over accusations she committed mortgage fraud. Reuters says that skepticism was summarized most directly by ?conservative Justice Brett Kavanaugh in an exchange with Solicitor General D. John Sauer, who had…
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CEOs view political unpredictability as major risk
American business leaders have offered only limited public criticism of President Donald Trump’s economic agenda, with analysts citing concerns about retaliation. Individual chief executives, including Exxon Mobil’s Darren Woods and JPMorgan’s Jamie Dimon, have raised narrow objections affecting their sectors, such as Venezuela policy and Federal Reserve independence, and the U.S. Chamber of Commerce’s Suzanne…
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Study finds Trump tariffs are mostly paid by U.S. consumers and businesses
A study by the Kiel Institute for the World Economy has concluded that U.S. tariffs imposed under President Donald Trump have been passed almost entirely onto American importers and consumers, with foreign exporters absorbing only around 4% of the cost. Based on analysis of roughly 25m transactions worth about $4tn, the researchers found a 96%…
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