Federal banking regulators issued a long-promised framework that provides guidance on the safe and sound management of climate-related financial risks at large banks.
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
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Posted inRisk Management
Digital Transformation of Compliance podcast: Pure Storage CLO Niki Armstrong
In this episode of the Digital Transformation of Compliance podcast series, Niki Armstrong, chief legal officer and corporate secretary at Pure Storage, discusses how her compliance team is considering using generative artificial intelligence.
Posted inRisk Management
Report faults FDIC for poor supervisory guidance on crypto assets
Uncertainty created by the Federal Deposit Insurance Corporation’s lack of clarity on risks posed by crypto assets has left member banks with the impression the agency wants banks to avoid them, according to a new report from the Office of Inspector General.
Posted inEurope
Report: Credit Suisse facing probe in Singapore money laundering scandal
A Singapore financial regulator will reportedly conduct an on-site inspection of a local Credit Suisse unit in connection with a 2.8 billion Singapore dollar (U.S. $2 billion) money laundering scandal.
Posted inEthics & Culture
Q&A: Bangladeshi compliance AVP on future of AML, leadership strategies
Rezaul Karim, assistant vice president, risk and compliance at HSBC Bangladesh, discusses with Compliance Week recent changes in KYC/AML compliance, how new technology is shaping the banking industry, and strategies for building and leading effective AML teams.
Posted inRegulatory Enforcement
CFTC vows increased penalties for deterrence, repeat offenders
The Commodity Futures Trading Commission will consider increasing its enforcement penalties in certain cases to deter future violations of commodities law and punish repeat offenders.
Posted inRegulatory Enforcement
Second SEC commissioner stumps for CCO liability framework
SEC Commissioner Mark Uyeda called for the agency to establish a framework that would describe scenarios in which a chief compliance officer would be held liable for securities law violations made by their firm.
Posted inRisk Management
Cybersecurity, AML risks among SEC 2024 exam priorities
SEC examiners will be asking tough questions of registered firms regarding how they handle risks related to operational security, interact with financial technology companies and crypto assets, and the maturity of their anti-money laundering programs.
Posted inSurveys & Benchmarking
Survey: FinCEN beneficial ownership rule still a mystery to many
A survey of U.S.-based businesses—as well as the law firms and certified public accountants who serve them—uncovered a shocking lack of understanding and preparedness for looming beneficial ownership reporting requirements.
Posted inEthics & Culture
CFTC commissioner blasts Goldman Sachs’s ‘culture of noncompliance’
After four enforcement cases against Goldman Sachs in 18 months, CFTC Commissioner Christy Goldsmith Romero accused the firm of perpetuating a corporate culture that tolerates repeated violations of the agency’s rules.
