Compliance Compass: Weekly Regulatory Roundup (24 – 28 June 2024)

Based on the provided document, here is a summary of the key updates and trends in regulatory policies across the G-20 nations:

Anti-money laundering and terrorist financing: Argentina's Financial Intelligence Unit published a resolution establishing working groups with the private sector to implement modifications to the National Preventive System. The European Union's European Banking Authority welcomed the entry into force of a new framework to tackle money laundering and terrorist financing.

Competition: Canada's Competition Bureau notified significant changes to the Competition Act, enhancing merger control and anti-competitive conduct provisions. The US Federal Trade Commission updated its Ophthalmic Practice Rules to promote competition and consumer choice.

Consumer protection: Germany's Financial Supervisory Services published new guidance on unfair transfer contracts in insurance sales, imposing stricter sanctions and advising consumers to carefully evaluate new insurance recommendations.

Data protection: Canada's National Commission on Informatics and Liberty and Secure Data Access Center published new practical sheets on data matching circuits. Japan's Personal Information Protection Commission launched a consultation on the review of the Personal Information Protection Law.

Employment: Australia's Fair Work Commission announced that enterprise agreements must include a delegates' rights term from July 2024. Canada's Employment and Social Development Canada invited comments on draft regulations for the Canada Disability Benefit. Indonesia's Ministry of Manpower introduced regulations to enhance the Labor Market Information System.

Environment: Canada's Environment and Climate Change Canada published proposed regulations to reduce methane emissions from Canadian landfills. The European Union's European Council approved conclusions setting out priorities for the upcoming UN General Assembly.

ESG (Environmental, Social, and Governance): Italy's Bank of Italy launched a public consultation on sustainability dialogue between small and medium-sized enterprises and banks.

Financial services: Argentina's National Securities Commission expanded a special regime for collective investment instruments. The European Banking Authority published final draft Regulatory Technical Standards on the Fundamental Review of the Trading Book Framework and amended guidelines on arrears and foreclosure.

These are the key takeaways from the regulatory update for the week of 24-28 June 2024.