HSBC Australia has been fined nearly $25 million for failing to protect customers from financial scammers. The bank must also publish adverse publicity orders on its website, its app, and in letters to affected customers.
Banking
Posted inFinancial Services
U.K. financial regulators pare down rules for senior managers
The U.K.’s key financial regulators have pared down the compliance requirements that hold senior managers accountable as part of the government’s drive to reduce undue regulation by half and boost investment.
Posted inBanking
U.K. tightens debanking rules as compliance teams in banks walk a regulatory tightrope
Closing a U.K. bank account against the wishes of the customer has just got more complicated. From April 28, banks and payment service providers must comply with new rules governing when and how they close an existing customer’s account.
Posted inRegulatory Policy
U.K. banking regulator focuses on accountability, governance and data while relaxing reporting cycles
The U.K. banking regulator is shifting its focus to rigorously monitoring outcomes, rather than adding rules, and this is driving investment in oversight functions.
Posted inBanking
FCA sets out plans for industry to compensate 12.1 million for car finance scandal
Over 12 million customers are eligible for compensation after being ripped off by car finance firms that racked up fees by arranging inflated interest rates for loan repayments and denied people the chance to seek better deals.
Posted inBanking
Deutsche Bank names CRO
Deutsche Bank appointed Marcus Chromik as chief risk officer, effective May 20.
Posted inBanking
MUFG names risk chief for securities business
Financial group MUFG announced that Charles Green, Jr., will assume the role of chief risk officer for MUFG Securities Americas, head of market risk Americas, MUS(CAN), and International CRO for MUSI, effective Feb 1.
Posted inBanking
Riksbank announces GC
Riksbank has appointed Annica Sandberg as its new general counsel, effective Jan. 7.
Posted inBanking
HSBC appoints interim group risk, compliance chief
HSBC appointed Richard Blackburn as interim group chief risk and compliance officer. It was also announced that Julian Wentzel will be the interim group chief sustainability officer.
Posted inBanking
World Bank Group appoints risk chief
The World Bank Group announced the appointment of Dennis McLaughlin as chief risk officer and vice president.
