Five federal financial regulatory agencies announced this week they have adopted a final rule to exclude community banks from the Volcker Rule.
Financial Services
Posted inSurveys & Benchmarking
FDIC report: Five common consumer compliance issues
The FDIC recently issued the first edition of its “Consumer Compliance Supervisory Highlights” report, intended to enhance transparency around consumer compliance supervisory activities.
Posted inRegulatory Enforcement
Hong Kong’s SFC bans former Goldman Sachs officer for life
Hong Kong’s Securities and Futures Commission has banned Tim Leissner, a former participating managing director at Goldman Sachs (Asia), from re-entering the industry in connection with his crimes relating to 1MDB.
Posted inSurveys & Benchmarking
Advancing climate risk management in financial institutions
Financial institutions still struggle with how to manage risks posed by climate change, according to a new report.
Posted inSurveys & Benchmarking
Five ‘essential components’ of a sanctions compliance program
Chief compliance officers got some much-needed guidance on how to build a well-crafted sanctions compliance program thanks to the recent OFAC framework.
Posted inFinancial Services
Genstar Capital names chief compliance officer
Genstar Capital, a private equity firm, has appointed Carolyn Greenwalt as chief compliance officer.
Posted inAccounting & Auditing
CECL in summer: Get ready for models, data, auditors
It may be summertime, but the living is not so easy for corporate finance staff preparing for CECL—a major change to the reporting of credit losses.
Posted inRegulatory Enforcement
State Street to pay $88.8M for mutual fund overcharges
State Street will pay $88.8 million to resolve charges with the SEC that it overcharged mutual funds and other registered investment company clients for expenses related to the firm’s custody of client assets.
Posted inEurope
UBS compliance officer convicted of insider trading
A London Southwark Crown Court jury on June 27 convicted two individuals—a senior compliance officer of UBS and a day trader of financial securities—and sentenced them to three years’ imprisonment for insider trading. Fabiana Abdel-Malek was employed as a senior compliance officer by investment bank UBS in its London office and used her position to […]
Posted inFinancial Services
FCA fines BOS over failure to report fraud suspicions
Bank of Scotland (BOS) has been slammed with a £45.5 million (U.S. $57.8 million) fine by the Financial Conduct Authority for failing to inform authorities of its suspicions that a BOS turnaround unit was committing fraud.
