All Finance articles – Page 19
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Blog
Carl Marks Securities announces chief compliance officer
Broker-dealer Carl Marks Securities announced the appointment of Jon Roberts as chief compliance officer.
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News Brief
FINRA orders Stifel units to pay $2.3M for repeat compliance failures
Two subsidiaries of Stifel Financial Corp. agreed to pay a collective total of about $2.3 million over alleged violations of Financial Industry Regulatory Authority rules regarding nontraditional exchange-traded products.
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News Brief
Advisor Resource Council to pay $300K over compliance lapses
Advisor Resource Council agreed to pay a $300,000 penalty to resolve charges levied by the Securities and Exchange Commission of compliance failures exacerbated by staffing woes.
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Blog
Dynex Capital adds ex-DTCC risk chief to board
Financial services company Dynex Capital announced its board of directors appointed Andrew Gray, who most recently served as group chief risk officer for Depository Trust and Clearing Corp., as an independent director.
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Blog
Phoenix Merchant Partners welcomes general counsel
Independent investment firm Phoenix Merchant Partners announced the addition of Rafael Colorado as chief operating officer and general counsel.
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Premium
Chapter 4: Investigations into misconduct: What banks can do
Both JPMorgan Chase and Deutsche Bank retained their respective Jeffrey Epstein relationships for too long. Yet, there is a case to be made for why exiting a high-risk relationship too soon can become an inverse form of recklessness.
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Blog
PayPal adds ex-SoFi risk chief in enterprise services role
Financial technology company PayPal Holdings announced the appointment of Aaron Webster as executive vice president, chief enterprise services officer.
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Chapter 3: Egregious failures: Customer due diligence and transaction monitoring
Why did JPMorgan Chase retain Jeffrey Epstein for more than a dozen years? How did the relationship persist despite glaring red flags? The “why” is straightforward; the “how” is more complicated.
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Blog
MoneyGram appoints general counsel
Payments and money transfer company MoneyGram announced the appointment of Cory Feinberg as general counsel and corporate secretary.
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Blog
FinVolution Group CCO to serve as president
Financial technology platform FinVolution Group appointed Pingping Chen to serve as president and chief compliance officer.
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Blog
DRB Capital appoints chief compliance officer
Financial services firm DRB Capital announced the appointment of Amanda Dobanton as chief compliance officer and general counsel.
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News Brief
FINRA fines M1 Finance $850K in first influencer promos case
The Financial Industry Regulatory Authority fined Chicago-based financial technology company M1 Finance $850,000 as part of a settlement addressing alleged improper use of a social media influencer program.
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News Brief
CFTC dings U.S. Bank, Oppenheimer over off-channel comms violations
The Commodity Futures Trading Commission announced settlements with U.S. Bank and Oppenheimer & Co. for admitted recordkeeping and supervision failures regarding employee use of off-channel communications for conducting business.
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Premium
Chapter 2: KYC shortfalls: JPMorgan and Deutsche Bank’s onboarding of Epstein
Jeffrey Epstein’s designation as a high-risk client should have subjected him to enhanced due diligence that never appeared to occur, most notably at Deutsche Bank. Instead, Epstein was allowed to continue his misconduct despite numerous red flags.
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News Brief
Delphia, Global Predictions fined by SEC in ‘AI washing’ cases
Delphia USA and Global Predictions agreed to pay a total of $400,000 to settle charges by the Securities and Exchange Commission the firms each engaged in artificial intelligence misrepresentations that misled clients about how they were using the technology.
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Premium
Chapter 1: Compliance v. complicity: The ‘underbelly’ of bank culture
Why were decisions made the way they were at the banks that serviced Jeffrey Epstein? Evidence points to a cultural tension: a tug-of-war between the allure of profit and the drag of compliance, with the former having all the pulling power.
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Premium
Case study: ‘The Banks Behind the Epstein Enterprise’
This Compliance Week case study offers a deep dive into the anti-money laundering compliance failures—and alleged complicity—of JPMorgan Chase and Deutsche Bank, the two banks that enabled the Jeffrey Epstein enterprise to flourish for decades.
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Blog
Fundbox names chief risk and product officer
Embedded working capital platform Fundbox announced Ram Muthaiyan as chief risk and product officer.
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Blog
CVC announces chief legal and compliance officer
Global alternative investment manager CVC welcomed Brechje van der Velden as chief legal and compliance officer and partner.
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Blog
PPRO announces chief legal, risk, and compliance officer
Local payments platform PPRO announced the appointment of Selene Brett as chief legal, risk, and compliance officer.