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US regulators scrap paperwork-heavy anti-money laundering model in major overhaul
The proposed overhaul of AML and CFT rules will force governance professionals to adopt compliance programs that are genuinely effective US financial regulators are proposing a major overhaul of anti-money laundering (AML) and counter-terrorist financing (CFT) rules that would change how compliance programs are designed, assessed and defended. Under proposals published by FinCEN alongside parallel rulemakings from the FDIC, Office of the Comptroller of the Currency (OCC) and National Credit Union Administration (NCUA), supervisors would move away from judging compliance by the volume of documentation produced. Instead, they would focus on whether AML and CFT frameworks actually work in practice…
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The week in GRC: ExxonMobil launches climate challenge against California and proxy advisors push back on WBD CEO pay package
This week’s governance, compliance and risk-management stories from around the web – ExxonMobil has launched a legal challenge against California in a case that could shape US corporate climate disclosure rules, according to Reuters (paywall). The dispute centers on California’s Climate-Related Financial Risk Act (SB 261), which requires companies with over $500 mn in revenue to disclose climate-related risks and mitigation strategies. Implementation of the law, originally due in January 2026, is on hold pending a decision by the 9th US Circuit Court of Appeals. Exxon and business groups argue the rule violates free speech and conflicts with federal securities…
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Chubb faces landmark lawsuit in escalating battle over shareholder rights
A new lawsuit against the insurer is becoming a pivotal test of how far shareholders can push companies on climate risks A recent survey of legal professionals has found that risk, demand and operations have become more complicated for 60 percent of legal department leaders, while an increased rate of risk and demand is accelerating for 87 percent. But according to The Seventh Annual General Counsel Report from FTI Technology and Relativity, rather than triggering a reactive response, this sustained pressure is reshaping how legal leaders operate. The report identifies an ‘unfazed era,’ where general counsel are adapting to constant…
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Legal leaders enter a new ‘unfazed era’ as risk, demand and operations grow more complex, survey shows
General counsel are facing a sharp escalation in complexity, yet many are responding with notable composure A lawsuit filed by shareholder advocate As You Sow against insurer Chubb is fast becoming a defining test of shareholder rights in the US proxy system, highlighting how climate governance disputes are shifting from regulators to the courts. Filed in March 2026 in federal court in Washington DC, the case challenges Chubb’s decision to exclude a shareholder proposal from its AGM. The proposal asked investors to vote on whether the company should commission a report examining the potential to recover climate-related losses from responsible…
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People moves: Betsy Fishbone promoted to chief legal officer at Colgate-Palmolive
Plus Nauticus Robotics, Geron and Prothena expand their legal teams Colgate-Palmolive has confirmed that Betsy Fishbone will serve as the company’s new chief legal officer and secretary, as of June 01. Fishbone currently serves as EVP, deputy chief legal officer and has been with the company since 2001. Fishbone is to succeed Jennifer Daniels who has served in the role since 2014. From June 01, Daniels will act as vice chair of the company to oversee an orderly transition of responsibilities. On the regulatory side of things, the SEC has named David Woodcock as director of the Division of Enforcement.…
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AI presents boards with an ‘ongoing transformational moment’ says Society for Corporate Governance CEO Paul Washington
AI is pushing boards into a new era of constant vigilance and sharper judgment, trade group’s boss says ahead of annual conference AI is creating a sustained test of board capability, demanding sharper oversight, deeper expertise and stronger alignment with management. That is the view of Paul Washington, president and CEO of the Society for Corporate Governance, who warns that boards must operate at a consistently higher level as AI moves from experimentation to enterprise-wide deployment. Founded in 1946, the Society for Corporate Governance represents more than 3,700 governance professionals supporting around 1,700 organizations, including approximately 1,000 public companies. Its…
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The week in GRC: The White House reviews quarterly reporting proposal as BP boardroom battle intensifies
This week’s governance, compliance and risk-management stories from around the web – The White House is reviewing a SEC proposal that would shift corporate reporting requirements to a semiannual basis and away from quarterly reporting, as reported by Bloomberg (paywall). The plan, submitted to the Office of Management and Budget, must clear this review before the SEC can formally release it for public comment. Commissioners would later vote again on a final version, meaning implementation may still take months. The proposal aligns with broader efforts by SEC leadership to reduce disclosure burdens and encourage companies to go public by easing…
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People moves: Aparna Bawa named as legal chief at chip maker Intel
Plus Tripadvisor, Braze and Coca-Cola Europacific Partners change their governance teams Intel Corporation has appointed Aparna Bawa as its new EVP, chief legal and people officer. Bawa succeeds April Miller Boise, who was confirmed to be leaving the company as of June 1 after serving with the company since 2022. Reporting to Intel CEO Lip-Bu Tan, Bawa will lead Intel’s global legal, ethics, compliance, people and culture organizations. She joins from Zoom, where she served as chief operating officer. Before that, Bawa held senior legal and leadership roles in the technology industry for the likes of Magento Commerce, Nimble Storage…
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‘Learning has to be ongoing’: LRN’s Patsy Doerr on why culture and governance define AI success
As AI adoption reaches 39 percent across compliance functions, most organizations still cannot explain its impact On a gray Wednesday morning in London, LRN, a provider of ethics, compliance and corporate culture solutions, gathered a group of women from across the compliance profession for a breakfast discussion on the evolving role of women in the field. The conversation moved easily between themes of authenticity and intelligent risk-taking, anchored by a fireside chat between Rebecca Mayfield, chief compliance officer and senior counsel at Merlin Entertainments, and Patsy Doerr, chief people and culture officer at LRN. It was during that discussion that…
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TD Bank earnings reflect price of governance and AML oversight failures
Regulators will monitor TD Bank’s US operations as the lender implements required AML program reforms after a $3 bn settlement In December of last year, TD Bank published its fourth quarter and full‑year 2025 financial results, showing it had absorbed the financial impact of a notable US anti‑money‑laundering (AML) settlement while still delivering solid underlying performance. A rise in adjusted net income for the quarter and the full year confirmed that the bank had provisioned for the settlement and related compliance costs and remained on track with its strategic priorities. The year‑end results highlighted the approximately $3 bn resolution of criminal…