The U.K. Financial Conduct Authority published its latest complaints figures for regulated firms for the second half of 2018, revealing how some financial services firms are receiving significantly more complaints than others.
Financial Services
Posted inFinancial Services
FTI Consulting appoints bank regulation co-leader
FTI Consulting announced the appointment of Senior Managing Director Stella Mendes as co-leader of the financial services bank regulation and governance practice within the firm’s Forensic & Litigation Consulting segment.
Posted inRegulatory Enforcement
UniCredit Group Banks to pay $1.3B for sanctions violations
UniCredit Group Banks will pay total financial penalties of approximately $1.3 billion for processing hundreds of millions of dollars of transactions through the U.S. financial system on behalf of an entity designated as a weapons of mass destruction proliferator and other Iranian entities subject to U.S. economic sanctions, the Department of Justice announced.
Posted inFinancial Services
TigerWit appoints new chief compliance officer
TigerWit Limited, a U.K.-headquartered global financial technology company, appointed Gareth Derbyshire as chief compliance officer.
Posted inEurope
FCA fines Goldman Sachs £34.3M for transaction reporting failures
Compliance officers in the financial services industry can learn a lot from the failings of Goldman Sachs, which was fined £34.3 million (U.S. $45 million) by the U.K. Financial Conduct Authority for failing to provide accurate and timely reporting relating to 220 million transaction reports over a period of a decade.
Posted inAML
Troika Laundromat reveals the gaps in AML compliance
A recent report from several investigative journalists details the AML scandal behind Troika Dialog, once Russia’s largest private investment bank, and is just one small look into the much bigger problem of corruption across the globe.
Posted inFinancial Services
Merrill Lynch to pay $8M for improper handling of ADRs
The Securities and Exchange Commission on March 22 announced that Merrill Lynch, Pierce, Fenner & Smith will pay over $8 million to settle charges of improper handling of “pre-released” American Depositary Receipts.
Posted inRegulatory Enforcement
Banks, central banks warned of crypto-currency risks and pitfalls
Despite failures, plummeting prices, and a plethora of risks, financial institutions and central banks are cautiously looking at ways to use virtual currencies. International regulators are warning them that doing so haphazardly could be disastrous.
Posted inFinancial Services
New Duff & Phelps director to aid expansion
Finance services firm Duff & Phelps announced the hiring of Adam August as a director in the Compliance and Regulatory Consulting practice. August will lead the expansion of the CRC offering to the Texas area.
Posted inRisk Management
Regulators’ top risk cop assailed by reform-bent critics
The Financial Stability Oversight Council was created to expose and mitigate systemic risks to the U.S. financial system. Its critics are winning the long-simmering battle to redefine its efforts.
