Finance
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ArticleCongress, Treasury take swings at Facebook’s Libra plan
A plan by Facebook to enter the world of virtual currency is attracting predictable skepticism in Washington. It could also expedite the slow emergence of national data protection laws.
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Prometheum developing SEC-compliant cryptocurrency listing
Blockchain platform Prometheum announced the development of an SEC-compliant infrastructure on which companies can list their securitized cryptocurrency tokens.
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Bitstamp hires U.S. chief compliance officer
Global cryptocurrency exchange Bitstamp announced the appointment of Caitlin Barnett as U.S. chief compliance officer.
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Florida man sentenced for role in collapse of Puerto Rico bank
The CEO of a now-bankrupt pharmaceutical company was sentenced to 30 years in prison for his role in a $100 million plot that triggered Westernbank of Puerto Rico’s collapse.
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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.
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Study: Financial firms don’t know what they don’t know on climate risks
Financial institutions still struggle with how to manage risks posed by climate change, according to a new report.
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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.
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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.
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SteelEye adds SM&CR capabilities to data platform
SteelEye announced the addition of Senior Manager Certification Regime (SM CR) capabilities within its compliance technology and data analytics platform.
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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.
