Deutsche Bank has agreed to pay a $3 million fine and has returned $5 million in fee overcharges to customers as part of a resolution with Hong Kong’s financial services regulator.
Aaron Nicodemus
Aaron Nicodemus is the Editor-in-Chief of Compliance Week. He previously worked as a reporter for Bloomberg Law and as business editor at the Telegram & Gazette in Worcester, Mass.
Email: aaron.nicodemus@complianceweek.com
LinkedIn: Follow
Posted inAML
FinCEN again delays U.S. ban on three Mexican financial institutions
The order barring three Mexican financial institutions from doing business with U.S. financial institutions has been delayed until October.
Posted inFrom the Archive
Aaron Nicodemus named Compliance Week’s Editor-in-Chief
In covering the compliance industry for the past five years at Compliance Week, I’ve learned a few things.
Posted inRisk Management
Risks for corporations doing business in Mexico have skyrocketed under Trump
The Trump administration’s designation of Mexican cartels as terrorist organizations in February has made doing business in Mexico riskier than ever before for corporations.
Posted inSanctions
NY plastics manufacturer fined $6.8M for underpaying customs duties on imported Chinese resin
Recent enforcement actions by U.S. agencies overseeing customs payments and export control laws indicate increased scrutiny of business transactions between U.S. and Chinese companies.
Posted inRegulatory Policy
Florida law makes it easier for employers to sue employees who signed noncompete agreements
Companies in Florida may want to revise noncompete agreements made with highly compensated employees to take advantage of provisions in Florida’s new noncompete law, which took effect July 1.
Posted inAccounting & Auditing
Williams leaves PCAOB four years before her term was supposed to end
Continuing a Trump administration practice of firing independent regulators, the head of the Public Accounting Oversight Board has been sent packing.
Posted inRegulatory Enforcement
Poor monitoring of sanctions compliance led to thousands of violations, $11.8M fine for brokerage firm
A brokerage and investment firm will pay $11.8 million for providing services to individuals under U.S. sanctions, as well as people located in countries sanctioned by the U.S.
Posted inESG/Social Responsibility
Citing “significant changes” to corporate reporting requirements, COSO withdraws governance framework
The Committee of Sponsoring Organizations of the Treadway Commission (COSO) has withdrawn its draft corporate governance framework that it released in May, after “extensive feedback” and provisions in the recently passed “One Big Beautiful Bill” caused its authors to reconsider it.
Posted inRegulatory Policy
Most companies that self-report misconduct to DOJ will receive declinations, DAG Blanche says
The Department of Justice has refocused its white collar crime priorities on prosecuting the worst cases of corporate misconduct while also clearing away unnecessary and burdensome regulation that could “strangle” American business, Deputy Attorney General Todd Blanche said.