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Recent Editions
Risk Channel
North America
President-elect Donald Trump’s administration will oversee workplace raids as part of its broader immigration crackdown, according to incoming “border czar” Tom Homan. Homan, the former director of Immigration and Customs Enforcement (ICE) who was an early advocate of the “zero tolerance” policy that separated more than 4,000 children from their parents in the first Trump administration, said the workplace raids would address labor and sex trafficking. “Where do we find most victims of sex trafficking and forced labor trafficking? At worksites,” Homan said. Such an approach is unlikely to help combat trafficking, opponents say. “He’s conflating the traffickers with the people being trafficked,” observed Heidi Altman, director of federal advocacy at the National Immigration Law Center.
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UK/Europe
The Treasury is poised to initiate the search for new chief executives for the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) as speculation mounts that Nikhil Rathi will not seek a second term at the FCA. Rathi's tenure has been marked by tensions with the government, particularly regarding enforcement and economic growth. Meanwhile, Sam Woods, the PRA's chief, is set to step down by mid-2026. Chancellor Rachel Reeves is expected to announce changes to the regulators' remits, with the aim of enhancing Britain's competitiveness. However, this move may face criticism over potential risks to the financial system's safety. A Treasury spokesperson confirmed that the recruitment process for new leaders will be outlined in due course, saying: "The current CEO of the Financial Conduct Authority has a term running until 30 September 2025." The potential vacancies are already generating speculation in the City about possible successors.
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