Compliance Is the Rite of Passage for the Underground Economy

🔔 Top Stories

Regulatory Uncertainty Clouds PMI’s U.S. Growth Strategy

Philip Morris International (PMI) forecasts stronger earnings in 2026, but regulatory and competitive pressures are clouding its U.S. growth outlook for smoke-free products like IQOS and Zyn. PMI expects adjusted earnings per share to grow above analyst estimates, driven by strong demand for nicotine pouches even as rivals gain market share. The company reached earlier growth targets ahead of schedule and plans new goals through 2028. Continued promotional costs and shifting demand mix mean investors are watching regulatory approvals and competitive moves closely.

Compliance Is the Rite of Passage for the Underground Economy

This analysis explores how formerly “underground” financial players (like offshore exchanges) are now being shaped by compliance frameworks. In 2026, major platforms moved into formal regulatory zones such as the UAE’s financial centre, cutting down their arbitrage advantages. The article argues that true growth for decentralized finance and tokenized assets requires real compliance rather than avoiding rules. Regulatory structures are evolving to separate trading, custody and clearing roles, marking a shift from unregulated expansion to structured scaling within legal systems.

U.S. Bans Chinese Software in Connected Cars

The United States has moved to block Chinese-origin software from “connected cars” and related systems to protect national security and prevent potential foreign access to sensitive data and vehicle control systems. The rule takes effect March 17, 2026, and forces automakers to remove Chinese code from core connected functions, including telematics, GPS, cameras and advanced driver-assistance systems. Compliance is challenging due to complex global software supply chains, prompting rapid restructuring efforts. These changes could reshape global automotive technology and supplier networks, with companies racing to certify non-Chinese alternatives.

🧠 Expert Take

Besides, without a compliance framework, some organizations might not implement any security practices at all (or at least until it is too late). Organizations must constantly challenge themselves to not only remain in full compliance, but also seek ways to go above and beyond to ensure the highest levels of security. Paul Koziarz, President and General Manager of Regulatory Compliance at CSI.

🧰 Compliance Toolkit

Understanding Carbon Management Software

Carbon management and accounting software helps organizations track, measure and reduce greenhouse gas emissions across operations and supply chains. These tools collect emissions data (including Scope 1, 2 and 3), analyze it against regulatory frameworks, and help generate reports for compliance and disclosure. This makes it easier to meet environmental regulations, reduce risk of penalties, and support sustainability goals. Examples include platforms that automate GHG reporting, offer dashboards for emissions insights, and integrate with reporting standards such as CSRD and CDP.

🎟️ Upcoming Event

Dow Jones Risk Journal Summit 2026

📍New York | March 4,  2026

The Dow Jones Risk Journal Summit 2026 is a full-day event in New York on March 4, 2026. Risk management, compliance, and regulatory experts will speak to current challenges affecting business operations, financial risks, and global trends in governance. The event is aimed at professionals such as risk officers, compliance leaders, and executives dealing with complex risk in a global economy. The summit will cover themes like identifying and mitigating operational and reputational threats and discussing shifts in regulatory environments. It provides networking chances with peers and expert leaders in risk practice. The event is by invitation only and hosted by Dow Jones, a major news and business intelligence provider. 

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