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Danske Bank under investigation in France over money-laundering saga
For a second time, Danske Bank is under investigation in France for suspected money-laundering transactions worth €21.6 million (U.S. $24.4 million) committed between 2007 and 2014.
William Barr sworn in as attorney general
The Senate on Feb. 14 confirmed William Barr as the 85th attorney general of the United States, succeeding Jeff Sessions, who stepped down in November.
Prison time for U.K. bosses who botch pension scheme management
The U.K. government says those executives who mismanage company pension schemes could face a jail sentence of up to seven years.
Cognizant to pay $25M to resolve FCPA violations
Cognizant Technology Solutions has agreed to pay a civil penalty of $25 million to settle charges that it violated the Foreign Corrupt Practices Act. Additionally, two former executives of Cognizant were charged for their roles in facilitating the payment of millions of dollars in a bribe to an Indian government official.
- Partner Content | Financial Services
Preparing for new credit loss rules
Banks and other financial institutions have a lot of work ahead of them as they prepare to adopt the new standard on reflecting credit losses in financial instruments (the so-called CECL standard).
SEC once again dragged into fight over mandatory arbitration
The SEC was spared setting mandatory arbitration policy when New Jersey’s attorney general argued a shareholder initiative proposed for Johnson & Johnson would be illegal.
CFPB moves forward with ‘disclosure sandbox’ for companies
With a comment period now wrapped up, the CFPB plans to move forward with a proposal to offer firms innovative “trial disclosure programs.”
Senators urge DOJ, FCC to reject T-Mobile & Sprint merger
Expressing their staunch opposition to the proposed merger between T-Mobile and Sprint, a group of Senate Democrats have written to the Department of Justice’s Antitrust Division and the Federal Communications Commission, urging them to reject the plan.
Proposed FCC rules, phone company enforcement target robocallers
The FCC has escalated its war against robocallers by proposing new rules banning illegal spoofed text messages and international calls. There is also a renewed threat of regulation and enforcement against phone companies that fail to deploy effective caller ID authentication plans.
Senate Banking Committee seeks feedback on data privacy
Senate Banking Committee Chairman Mike Crapo (R-Idaho) and Ranking Member Sherrod Brown (D-Ohio) are seeking public feedback on the collection, use, and protection of sensitive personal information by financial regulators and private companies.
EU expands controversial AML country blacklist
The European Commission today adopted its proposed new blacklist of countries that it has identified as having significant deficiencies in their anti-money laundering and counter-terrorist financing regimes.
Legislation demands SEC disclosures for corporate political spending
The newly reintroduced Corporate Political Disclosure Act seeks to require publicly traded companies to disclose their political expenditures through the SEC.