All Finance articles – Page 21
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News Brief
TIAA unit to pay $2.2M for Reg BI lapses
A subsidiary of the Teachers Insurance and Annuity Association of America agreed to pay more than $2.2 million as part of a settlement with the Securities and Exchange Commission for not acting in the best interest of its retail customers regarding their retirement accounts.
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News BriefVanEck fined $1.8M over influencer promo nondisclosure
Van Eck Associates agreed to pay $1.75 million as part of a settlement with the Securities and Exchange Commission regarding its alleged failure to properly disclose the planned involvement of a social media influencer in the launch of an exchange-traded fund.
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News BriefMorgan Stanley fined $1.6M by FINRA over municipal securities closeouts
Morgan Stanley will pay a $1.6 million fine levied by the Financial Industry Regulatory Authority for failing to close out certain municipal securities transactions over a five-year period.
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Blog
AADR adds JG Wentworth CCO to executive board
The American Association for Debt Resolution added Lori Lasher, JG Wentworth’s executive vice president, chief legal officer, chief compliance officer, and general counsel, to its executive board of directors.
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Blog
Kafene appoints general counsel
Kafene, a point-of-sale leasing platform, announced the appointment of Vin Thomas as general counsel and corporate secretary.
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Blog
Evolve Bank & Trust appoints chief risk officer
Financial technology organization Evolve Bank & Trust announced it appointed Peter Moenickheim as chief risk officer.
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Blog
Yorkshire Building Society names new risk chief
U.K.-based financial services provider Yorkshire Building Society appointed Richard Bowles as chief risk officer.
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Blog
TransferGo hires chief compliance officer
U.K.-based money transfer services company TransferGo added Simon McFeely to its executive team as chief compliance officer.
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PremiumFinCEN to propose applying BSA requirements to investment advisers
The Financial Crimes Enforcement Network will propose categorizing investment advisers as financial institutions that must comply with the Bank Secrecy Act, including having an anti-money laundering program.
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News BriefFCA fines, bans ex-London Capital & Finance compliance head over promos
The U.K. Financial Conduct Authority issued a fine of £31,800 (U.S. $40,000) against a former compliance director at London Capital & Finance for allegedly approving misleading promotions that led to investor deception.
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PremiumExperts: SCOTUS ruling shifts onus to employers in whistleblower cases
The Supreme Court’s unanimous decision to reaffirm whistleblower protections under the Sarbanes-Oxley Act in a case involving UBS has wide ramifications in many other industries beyond financial services, according to legal experts.
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News BriefSCOTUS reaffirms whistleblower protections in ruling against UBS
The Supreme Court reaffirmed whistleblower protections guaranteed under the Sarbanes-Oxley Act in a unanimous decision expected to set a precedent that impacts all corporate internal reporting cases.
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News BriefLatest SEC off-channel comms sweep nets $81M in fines against 16 firms
The ongoing off-channel communications sweep by the Securities and Exchange Commission netted 16 more broker-dealers and investment advisers, with the latest wave of fines totaling more than $81 million.
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PremiumTable: SEC, CFTC off-channel communications penalties
The Securities and Exchange Commission and Commodity Futures Trading Commission have combined to levy nearly $3.5 billion in penalties (so far) against firms and their affiliates in response to recordkeeping failures regarding employee use of off-channel communications for business purposes.
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News BriefSEC, CFTC adopt rule for enhanced large hedge fund disclosures
Large hedge fund advisers will be required to disclose more information on their investment strategies, investment exposure, operations, and more as part of a rule change jointly adopted by the Securities and Exchange Commission and Commodity Futures Trading Commission.
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News BriefGoldman Sachs fined $513K by FINRA over faulty surveillance reports
The Financial Industry Regulatory Authority fined Goldman Sachs $512,500 for allegedly failing to properly surveil certain types of securities for potential manipulative trading activity for more than a decade.
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Blog
Clear Channel adds Legion Partners compliance chief to board
Out-of-home advertising company Clear Channel Outdoor Holdings announced the appointment of Ted White, co-founder and chief compliance officer of Legion Partners Asset Management, to its board of directors.
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PremiumExperts: Good data breach response grounded in preparation
Two chief compliance officers and an attorney discussed preparation for the “when, not if” threat of a data breach during a panel at CW’s Cyber Risk & Data Privacy Summit.
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News BriefPaytm denies money laundering claims amid regulatory scrutiny
The Reserve Bank of India ordered a halt to many banking activities of digital payments provider Paytm while the regulator investigates “persistent noncompliances and continued material supervisory concerns.”
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PremiumACAMS survey: Budget cuts, criminal tech innovation top 2024 threats
Nearly 800 financial crime professionals said the biggest threats to the effectiveness of their anti-money laundering programs are budget cuts and their inability to keep pace with more aggressive and innovative uses of technology by criminals to commit fraud.