In this “Ask Amii” mailbag, executive coach and former Chief Compliance Officer Amii Barnard-Bahn discusses the pros and cons of outsourcing compliance, breaking tough news to business partners, and how to transfer compliance skills out of finance.
Financial Services
Posted inEurope
SFO closes long-running LIBOR manipulation investigation
The U.K. Serious Fraud Office has closed its investigation into manipulation of the London Interbank Offered Rate (LIBOR), ending a probe that began more than seven years ago.
Posted inFinancial Services
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.
Provided by
Best practices for Audio Recording Supervision
Best practices for using AI & ML to enhance audio recording supervision programs.
Posted inFinancial Services
OCC 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.
Posted inRegulatory Enforcement
Barclays to pay $6.3M in FCPA case over hiring practices
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.
Posted inRegulatory Enforcement
BMO 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.
Posted inEurope
FCA fines Prudential $26.4M in misselling scandal
The U.K. Financial Conduct Authority has hit Prudential with a £23.8 million (U.S. $26.4 million) fine for misleading 17,000 customers into accepting a deal with the insurance firm when they might have done better on the open market.
Posted inFinancial Services
SEC 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.
Posted inRegulatory Enforcement
Two broker-dealers to pay $4.65M for providing deficient ‘blue sheet data’
Two broker-dealers must pay a combined $4.65 million in penalties for providing incomplete and inaccurate securities trading information to the SEC. Prudent compliance officers might want to take a page from their remedial efforts.