All Banking articles – Page 53
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ArticleWestpac accused of 23M violations of Australian AML rules
Australia’s financial crime regulator has accused Westpac Banking of committing over 23 million breaches of the country’s anti-money laundering and counter-terrorism financing rules.
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Hong Kong, Singapore regulators fine UBS $59M for client overcharges
Swiss bank UBS will pay $59 million in total civil penalties in resolutions with both Hong Kong and Swiss regulators for overcharging clients for over a decade.
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Wells Fargo general counsel stepping down
Wells Fargo announced General Counsel Allen Parker will leave the company, effective March 31, 2020, “to pursue other business opportunities.”
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ArticleData protection compliance lessons from UniCredit breach
UniCredit announced its cyber-security team has identified a data breach that compromised the personal records of approximately three million clients in Italy, highlighting critical compliance lessons for those in the financial services industry.
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ArticleBig Tech, banking policymakers clash over cloud computing
The “move fast and break things” mantra of the tech world rubs up against a more rigid banking industry as the two find their way in the cloud—but is more legislation really necessary?
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BNP Securities appoints new chief compliance officer
BNP Paribas recently announced the appointment of Theresa McCloskey as chief compliance officer for BNP Securities, the company’s registered broker-dealer and futures commission merchant.
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Fed rule tailors bank regulations to link requirements to risk
The Federal Reserve Board of Governors approved final rules that tailor its regulations for domestic and foreign banks to more closely link regulatory requirements to the institutions’ risk profiles.
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Gateway First Bank names chief risk officer
Gateway First Bank has appointed Peter Moenickheim as chief risk officer. His responsibilities will span all efforts in enterprise risk management, compliance, and quantitative analytics.
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ArticleOCC eases stress-testing requirements for banks
New OCC requirements mean national banks and federal savings associations with assets under $250 billion will no longer have to self-administer stress tests annually.
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ArticleCompliance takeaways from Barclays’ $6.3M FCPA settlement
Barclays joins a growing list of financial institutions to pay a penalty for violations of the books and records and internal accounting controls provisions of the FCPA due to questionable hiring practices.
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ArticleBMO firms to pay $37M for misleading clients
Two BMO advisory firms have agreed to pay over $37 million in a settlement with the SEC for misleading clients on aspects of their retail investment advisory program.
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Northwestern Mutual appoints chief compliance officer
Northwestern Mutual recently announced it has made several changes to the company’s senior leadership team, including the appointment of a new chief legal and compliance officer.
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Handelsbanken appoints chief compliance officer
Handelsbanken, a Swedish consumer banking company, has announced the appointment of Martin Noréus as chief compliance officer.
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ArticleCompliance failures lead to $15M penalty for Raymond James
A series of compliance failures have resulted in three Raymond James entities being fined $15 million by the SEC over improper charges of advisory fees and excess commissions.
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Embattled Swedbank names permanent CCO
Faced with numerous AML investigations, Swedbank made several significant moves this week, including naming a permanent CCO and agreeing to waive attorney-client privilege by handing over an internal report to local prosecutors.
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ArticleSEC revisiting decades-old bank disclosure guide
The SEC is seeking public comment on proposed updates to statistical disclosures for bank and savings and loan registrants.
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Goldman Sachs appoints chief risk officer, new chief accounting officer
Goldman Sachs disclosed in a securities filing it has appointed both a new chief risk officer and a new principal accounting officer, effective Nov. 4.
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ArticleWhat banking CCOs need to know about new terrorist funding order
Impacted financial institutions, including cryptocurrency exchangers, may want to review know-your-customer policies and anti-money laundering compliance in light of President Trump’s executive order.
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American Riviera Bank names chief compliance and risk officer
American Riviera Bank has named Laurel Sykes as executive vice president, chief compliance and risk officer.
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BankUnited promotes chief risk officer
BankUnited announced Jay Richards has been promoted from chief credit officer to chief risk officer, assuming the role of Mark Bagnoli, who will retire.