All Finance articles – Page 18
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News BriefTreasury details oligarch-tied Russia sanctions evasion scheme
Three Russia-based companies and an individual were designated by the U.S. Treasury Department for trying to recapture more than $1.5 billion in frozen shares owned by a previously sanctioned Russian oligarch using a complex evasion scheme.
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Blog
Slice names ex-Kotak risk chief as chief risk adviser
India-based consumer payments and lending company Slice announced the appointment of Arvind Kathpalia, president and group chief risk officer at Kotak Mahindra Bank, as chief risk adviser.
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News BriefNYDFS offers cyber rule compliance template for small businesses
The New York State Department of Financial Services issued guidance for small businesses attempting to comply with its cybersecurity regulations.
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News BriefSEC, FinCEN propose customer ID program for investment advisers
The Securities and Exchange Commission and Financial Crimes Enforcement Network proposed a rule requiring registered investment advisers to implement customer identification programs, another facet of a coordinated attempt to close an apparent loophole in federal AML regulations.
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News BriefFSOC warns on liquidity risk by nonbank mortgage servicers
A new report by the Financial Stability Oversight Council recommended state regulators and Congress take steps to minimize “significant liquidity risk” posed by the nonbank mortgage servicing industry.
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Blog
Sculptor Capital names chief compliance officer
The board of directors of Sculptor Capital Management appointed Colleen Kilfoyle to serve as chief compliance officer.
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Blog
Rithm Capital recruits ex-Sculptor Capital CCO as legal chief
Investment management company Rithm Capital announced David Zeiden was appointed chief legal officer.
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News BriefFINRA fines Merrill Lynch $825K over order execution supervision lapses
Merrill Lynch was assessed an $825,000 penalty by the Financial Industry Regulatory Authority for alleged supervision failures regarding the execution of marketable equity orders entered into its electronic order systems.
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Blog
NCB Management Services appoints legal chief
Financial services company NCB Management Services announced the appointment of Jonathan Thompson as chief legal officer.
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News BriefFINRA enforcement roundup: Three firms fined for trade compliance lapses
The Financial Industry Regulatory Authority fined three firms—M1 Finance, Mizuho Securities, and Oppenheimer—between $250,000 and $500,000 across separate actions for failing to properly implement, monitor, and supervise internal systems that led to compliance failures.
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OpinionFive reasons I’m excited for CW’s Financial Crimes Summit
Compliance Week’s Financial Crimes and Regulatory Compliance Summit will feature more than 50 prominent speakers representing government agencies, regulators, banks, investment advisers, and more tackling the top-of-mind risk areas facing the financial services industry.
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News BriefFinCEN warns financial institutions on Iran-backed terrorist organizations
The Financial Crimes Enforcement Network advised financial institutions in detecting illicit transactions related to Iran-backed terrorist organizations.
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News BriefSEC faults former IA Gainvest for nontailored compliance manual
A Securities and Exchange Commission action against former registered investment adviser Gainvest Legal Corp. yielded a notable takeaway for others in the industry engaging consultants for compliance program support.
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PremiumCW2024 panel: TPRM board buy-in earned through impact, activity
Identifying critical measures for third-party risk management has become vitally important as risk professionals face an uphill battle in fighting for resources, experts discussed at Compliance Week’s 2024 National Conference.
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News BriefFRC fines PwC, EY for London Capital & Finance audit failings
Big Four firms PwC and EY were each penalized by the Financial Reporting Council for alleged shortcomings during their respective audits at collapsed investment firm London Capital & Finance.
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News BriefCFPB fines Chime $3.25M over account refund delays
The Consumer Financial Protection Bureau ordered Chime Financial to pay $3.25 million in penalties for allegedly delaying consumer refunds past its promised 14-day timeframe.
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News BriefSoFi unit fined $1.1M by FINRA for fraud prevention failures
SoFi’s brokerage unit will pay a $1.1 million fine to the Financial Industry Regulatory Authority for fraud detection weaknesses that allowed thieves to create SoFi Money accounts using fake or stolen identities.
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News BriefFederal banking regulators issue TPRM guidance for community banks
The Federal Deposit Insurance Corporation, Federal Reserve Board, and Office of the Comptroller of the Currency combined to provide guidance on third-party risk management focused on the unique risks faced by community banks in their third-party relationships.
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Blog
BlackRock TCP Capital appoints compliance chief
Specialty finance company BlackRock TCP Capital announced the appointment of Ariel Hazzard as chief compliance officer.
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Blog
ClearSign Technologies appoints 1102 Partners CCO to board
ClearSign Technologies Corp., a developer of emission-control technology, announced David Maley, chief investment officer and chief compliance officer of family office 1102 Partners, was appointed to its board of directors.