Matthew Axelrod, assistant secretary for export enforcement at the Bureau of Industry and Security, addressed efforts to reach financial services firms, working with the Financial Crimes Enforcement Network, and more during his fireside chat at CW’s Financial Crimes Summit.
Risk Management
Posted inEthics & Culture
CFTC’s Pham critical of agency stances on CCO liability, self-disclosure credit
Caroline Pham, a commissioner at the Commodity Futures Trading Commission, said compliance officers have a lot to worry about if they or their firms are subject to CFTC enforcement during her fireside chat at CW’s Financial Crimes Summit.
Posted inRegulatory Enforcement
Additions to UFLPA Entity List signal seafood supply chain risks
The U.S. Department of Homeland Security added three China-based entities across the seafood, aluminum, and footwear industries to the Uyghur Forced Labor Prevention Act Entity List.
Posted inRisk Management
Panelists break down robust sanctions landscape at TPRM Summit
Sanctions compliance officers face myriad challenges as complex geopolitical situations heighten risks worldwide, experts discussed during Compliance Week’s Third-Party Risk Management & Oversight Summit.
Posted inRisk Management
FinCEN BSA data: Fraud, money laundering top suspicious activities
The Financial Crimes Enforcement Network published its latest collection of Bank Secrecy Act data, including number and type of suspicious activity reports.
Posted inRisk Management
Experts: AI risk mitigation second nature for compliance professionals
Compliance has been “sleeping on” artificial intelligence, two panelists discussed at Compliance Week’s Women in Compliance Summit. The profession should be positioned to lead on AI governance at the business level.
Posted inRisk Management
OCC’s Hsu encourages banks to apply guardrails to AI use
Warning of an “eventual reckoning” on artificial intelligence use by financial institutions, the acting head of the Office of the Comptroller of the Currency said the industry should learn lessons on how similar disruptive technologies evolved from being helpful to dangerous.
Posted inRisk Management
‘Why us?’ SEC lists reasons it conducts examinations of broker-dealers
A risk alert from the Securities and Exchange Commission listed top reasons why a registered broker-dealer might be the subject of an examination.
Posted inEurope
EU agencies examine efforts to identify and monitor examples of greenwashing
The European Securities and Markets Authority, European Banking Authority, and European Insurance and Occupational Pensions Authority issued reports on greenwashing in the financial sector, describing how they plan to call out examples of false or misleading sustainability claims.
Posted inAccounting & Auditing
Reignited calls to tighten up AML in London, crown dependencies
Despite repeated interventions, fines, and negative publicity, money laundering is rife in U.K. financial services firms, according to Deputy Foreign Secretary Andrew Mitchell.
