All Finance articles
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Options Clearing Corp. promotes chief compliance officer
Options Clearing Corp., the world’s largest equity derivatives clearing organization, announced the promotion of Jennifer Baum to senior vice president and chief compliance officer.
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ArticleManaging emerging trade-based money laundering risks
Trade-based money laundering was already happening prior to the coronavirus pandemic, but now its nature has shifted. The ICA offers key considerations for managing emerging risks.
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OCC report highlights elevated compliance risks in banking
The Office of the Comptroller of the Currency published a new report describing key issues facing the federal banking system and the effects of the coronavirus pandemic on the banking industry.
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In time of crisis, Wirecard has turned to its would-be CCO to lead
Reeling from a $2 billion accounting scandal, Wirecard has turned to its would-be chief compliance officer as its interim CEO. It’s the first smart move the company has made in a while, writes Martin Woods.
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Supreme Court: CFPB single-director structure unconstitutional
The U.S. Supreme Court ruled the CFPB’s single-director structure violates the separation of powers between the executive and legislative branches and is unconstitutional.
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Telegram to pay back investors $1.2B for failed ICO
Telegram Group will return more than $1.2 billion in ill-gotten gains to investors and pay an $18.5 million civil penalty to resolve SEC charges that its unregistered offering of digital tokens violated federal securities laws.
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FRC to probe EY, PwC audits of London Capital & Finance
The U.K. Financial Reporting Council has commenced three investigations into the audits of collapsed investment firm London Capital Finance, including audits carried out by Big Four firms EY and PwC.
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Lessons from Wirecard: Ignore unchallenged allegations at your peril
When a company does not rebut serious allegations of wrongdoing with litigation, the only response is to demand answers from the firm or take your business elsewhere, writes financial crime expert Martin Woods.
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Horace Mann appoints chief risk officer
Insurance firm Horace Mann has appointed Paul Haley as chief risk officer.
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CFPB launches pilot advisory opinion program
The Consumer Financial Protection Bureau has launched a pilot advisory opinion program that allows companies seeking to comply with its regulations to submit questions on areas of uncertainty.
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From financial crisis to coronavirus: Shifting compliance trends in financial services
Keeping up with regulatory change; budget and resource allocation; and data protection issues were cited as the top three compliance challenges in the financial services industry, according to a recent study.
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U.S. regulators boast coordination in addressing coronavirus fraud
Testimony provided by several agencies before a U.S. Senate Judiciary Committee hearing offers valuable insights for chief compliance and risk officers regarding where coronavirus fraud threats may lurk, especially in the financial services and healthcare sectors.
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Survey
Survey: The evolving role of AI in fighting financial crime
Take this benchmark survey to find out where you are on the AI maturity curve in comparison to peers.
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Libra Association appoints chief compliance officer
The Libra Association continued its string of key executive hirings with the appointment of Sterling Daines as chief compliance officer.
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Report: AI tools carry many benefits, some risks for securities industry
A study on the use of artificial intelligence in the securities industry by FINRA found a number of challenges with the technology—data bias, customer privacy, and cyber-security among them—but noted it can offer “significant benefits.”
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Merrill Lynch to pay $7.2M to customers overcharged for mutual funds
Merrill Lynch will pay more than $7.2 million in restitution and interest to customers who incurred unnecessary sales charges and paid excess fees in connection with mutual fund transactions, FINRA announced.
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Crypto.com appoints chief compliance officer
Crypto.com, a cryptocurrency platform, announced the appointment of Antonio Alvarez as chief compliance officer.
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CNO Financial tabs chief risk officer
Financial services holding firm CNO Financial Group announced the appointment of Karen DeToro as chief risk officer, in addition to her current duties as chief actuary.
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GCM Grosvenor adds chief risk officer
GCM Grosvenor, one of the world’s largest independent alternative asset management firms, announced the appointment of Amy Wierenga as chief risk officer..
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USBI to pay $16M for breaches of fiduciary duty
U.S. Bancorp Investments, a dually registered investment adviser and broker-dealer, has agreed to pay $16 million to settle SEC charges for breaches of fiduciary duty arising out of its mutual fund share-class selection practices.
