In a Report to the House Committee on Energy and Commerce, the Government Accountability Office ("GAO") recommended that Congress pursue comprehensive federal legislation on cybersecurity and data privacy. It is the GAO's latest call for a national strategy to protect consumers. A similar approach - the General Data Protection Regulation - was adopted by the European Union and went live last year. The GAO explained that the United States lacks a comprehensive internet privacy law governing the "collection, use and sale or other disclosure of consumers' personal information," relying instead on

CFTC Commissioner Dawn Stump proposed various measures for the CFTC to improve CFTC data protection. Ms. Stump stated that her aim is to ensure that the CFTC (i) collects only data required for its regulatory responsibilities, (ii) eliminates "duplicative reporting streams," (iii) considers alternative ways to access sensitive data and (iv) reviews internal controls, including data retention practices and procedures for responding to cyber incidents. Ms. Stump noted that, given the breadth of the CFTC's oversight functions, "it is time for the CFTC to comprehensively evaluate our approach to

The NFA reminded member firms of resources provided by the NFA to help them with regulatory compliance (s ee here and here for the Notices). These resources, which are available on the NFA's website, pertain to requirements for: payment of dues; completion of annual questionnaires; filing of ongoing updates; computation of financial ratios; anti-money laundering compliance; and disclosure compliance.

SIFMA and the Security Traders Association ("STA") raised several concerns about legislative proposals on capital formation and corporate governance currently under consideration by the U.S. Senate Committee on Banking, Housing and Urban Affairs (the "Committee"). SIFMA and the STA submitted separate letters to (i) Committee Chair Senator Mike Crapo (R-IA) and (ii) Senator Sherrod Brown (D-OH). SIFMA stated that it supports the following measures: the Fostering Innovation Act of 2017, which would grant a five-year exemption from the auditor attestation requirements of Sarbanes-Oxley for

The U.S. Treasury Department ("Treasury") Office of Foreign Assets Control ("OFAC") designated six Venezuelan government officials affiliated with the regime of Nicolas Maduro, the Venezuelan leader from whom the U.S. government withdrew recognition earlier this year. OFAC said that the action, pursuant to Executive Order 13692, was in response to efforts undertaken by groups controlled by the six officials that exacerbated the humanitarian crisis and that left millions of Venezuelans starving and without access to medical care. As a result of OFAC's action, all property and interests in