Audit committee requirements
Audit committee requirements in the Financial and Capital Markets sector sit under active oversight from the U.S. Securities and Exchange Commission, the Public Company Accounting Oversight Board, and the European Securities and Markets Authority, each with distinct independence, expertise, and disclosure mandates that apply to listed firms, broker-dealers, and asset managers in their jurisdictions. The SEC's existing rules under Exchange Act Section 10A and Regulation S-K Item 407 set the baseline in the United States, but PCAOB standard-setting activity and ESMA's ongoing push for harmonized audit committee composition rules across EU member states mean the requirements firms governed by both regimes are watching are not static. Cresthaven is monitoring every rulemaking, consultation paper, and enforcement signal in this space as they publish.
Watch
- PCAOB proposals to expand auditor reporting requirements affecting committee oversight obligations
- SEC Regulation S-K Item 407 disclosure expectations under current enforcement review
- ESMA consultation on audit committee independence standards for cross-listed issuers
- Financial industry firms reconciling dual US/EU committee composition rules before annual proxy season
Recent material activity in Financial & Capital Markets
A selection of recent published briefs; this is not a complete archive.
Federal Reserve proposes dual regulatory framework for payment stablecoin issuers under the GENIUS Act
The Federal Reserve Board released two proposals on September 24, 2026 to establish a supervisory framework for payment stablecoin issuers it oversees under the GENIUS Act. The proposals address reserve backing requireme…
Read a full sample brief →CFTC staff updates crypto FAQ guidance on tokenized customer fund investments and blockchain recordkeeping
Three CFTC divisions released updated FAQs on September 24, 2026, covering tokenized forms of permitted customer fund investments and blockchain-based recordkeeping for registrants. The update extends interpretive positi…
Read a full sample brief →Federal Reserve issues consent prohibition against former Sandy Spring Bank employee for embezzlement
On September 24, 2026, the Federal Reserve Board issued a consent prohibition order against Renee Nicole Brown, a former Sandy Spring Bank employee, for embezzlement. The order bars Brown from participating in the affair…
Read a full sample brief →NYSE National files immediately effective rule change amending clearly erroneous execution standards under Rule 7.10
NYSE National, Inc. filed a proposed rule change with the SEC on September 24, 2026, effective immediately upon filing, to amend Rule 7.10, which governs clearly erroneous execution determinations. The amendment adjusts …
Read a full sample brief →NYSE Texas amends clearly erroneous execution rule with immediate effectiveness
NYSE Texas, Inc. has amended its clearly erroneous executions rule, effective immediately upon filing. The amendment updates the procedures under which the exchange may review and nullify trades determined to be clearly …
Read a full sample brief →Texas Stock Exchange files immediate-effectiveness rule change modifying order processing during regulatory halts and auction mechanics
The SEC published a TXSE proposed rule change on September 24, 2026, effective upon filing. The rule modifies order handling during regulatory halts and adjusts mechanics for IPO auctions, halt auctions, and volatility c…
Read a full sample brief →SEC extends review period for Cboe proposed rule on stop-limit complex orders and stop complex order auctions
The SEC designated an extended review period on September 24, 2026 for a Cboe Exchange proposed rule change. The proposal would accommodate stop-limit complex orders and establish stop complex order auctions as a new auc…
Read a full sample brief →BaFin suspects BERLIN LIVING AG is publicly offering a bond without the required securities information sheet
BaFin suspects BERLIN LIVING AG of offering the "BERLIN LIVING 1 Anleihe 2026/2031" bond to the public in Germany without the legally required securities information sheet. The agency published a consumer notice to this …
Read a full sample brief →EBA submits MiCA review priorities to the European Commission, targeting gaps in crypto-asset regulation
The EBA published its response on September 24, 2026 to the European Commission's targeted consultation on the review of the Markets in Crypto-assets Regulation. The response identifies specific regulatory gaps the EBA r…
Read a full sample brief →Australia ASIC Securities & Investments release pending Cresthaven Analytics full analysis: 26-227MR Former financial services provider employee Emre Basar charged with misappropriation of client funds after ASIC investigation
Australia ASIC Securities & Investments published a regulatory release titled '26-227MR Former financial services provider employee Emre Basar charged with misappropriation of client funds after ASIC investigation'. Cres…
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