All Finance articles – Page 23
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Blog
FINRA enforcement head to depart, acting successor announced
The Financial Industry Regulatory Authority announced longtime Head of Enforcement Jessica Hopper will depart Feb. 3.
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Blog
Marygold Companies tasks CCO with leading fintech subsidiary
Global holding firm The Marygold Companies announced the appointment of Timothy Rooney to head the company’s financial technology startup, Marygold & Co.
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Blog
Alpine Investors appoints general counsel, CCO
Alpine Investors announced the appointment of Alexandria Stuart as general counsel and chief compliance officer.
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News Brief
Bloomberg to pay $5M for misleading disclosures about rate calculations
Bloomberg Finance agreed to pay $5 million to settle Securities and Exchange Commission charges alleging misleading disclosures it made about how it calculated the valuations it provided on fixed-income securities to the financial services industry.
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News Brief
Moors & Cabot to pay $1.9M for conflict of interest disclosure lapses
Investment adviser Moors & Cabot reached a $1.9 million settlement with the Securities and Exchange Commission over allegations the firm didn’t fairly disclose conflicts of interest associated with incentive payments it received from two unaffiliated clearing brokers.
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Blog
Fitch Ratings CCO promoted to general counsel
Fitch Group, a provider of financial information services, announced the appointment of Bruce Legorburu as general counsel. Heather Merrigan replaces Legorburu as chief compliance officer for Fitch Ratings.
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News Brief
FINRA focuses on financial crime in annual exam report
The Financial Industry Regulatory Authority’s annual report on examinations and risk monitoring indicated a new emphasis for the regulator on combating financial crime, particularly cybercrime.
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Article
FinCEN report identifies financial trends of Russian oligarchs
The Financial Crimes Enforcement Network published an analysis of financial trends involving Russian oligarchs and how U.S. financial institutions have aided in the identification of more than $30 billion worth of sanctioned Russians’ assets.
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Article
SEC fines PNC unit over municipal bond disclosure lapses
Broker-dealer PNC Capital Markets agreed to pay nearly $200,000 and be censured to resolve Securities and Exchange Commission allegations it violated rules related to limited offerings of municipal securities.
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Article
‘Period of uncertainty’ projected as U.K. embarks on ‘Edinburgh Reforms’
The “Edinburgh Reforms” aim to establish a smarter regulatory framework for the United Kingdom that is agile, less costly, and more responsive to emerging trends. Experts weigh in on the proposed changes.
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Article
CHS Hedging AML controls criticized in $6.5M CFTC action
CHS Hedging, a Minnesota-based futures commission merchant, was fined $6.5 million by the Commodities Futures Trading Commission for AML program gaps and other risk management and recordkeeping failures regarding a ranch owner customer committing fraud.
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Article
ASX appoints chief compliance officer
The Australian Securities Exchange announced the appointment of Daniel Moran as chief compliance officer, effective Jan. 1, 2023.
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Article
NYDFS issues guidance for banks interested in virtual currency
The New York State Department of Financial Services issued guidance outlining guidelines banks and financial institutions must follow to engage in virtual currency activities in the state.
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Article
Fed rule sets SOFR as LIBOR replacement
The Federal Reserve Board adopted a rule that will officially set the Secured Overnight Financing Rate as the benchmark rate in financial contracts that reference the expiring London Interbank Offered Rate.
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Article
SEC, DOJ charge traders with fraud in $47M front-running scheme
An equity trader was charged with unlawfully disclosing inside, nonpublic information about upcoming trades to a retired professional trader, resulting in $47 million in illegal gains.
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Article
SEC proposes sweeping changes to process for selling securities
The Securities and Exchange Commission proposed a series of rules that would change the way securities are sold in U.S. markets and create new disclosures for broker-dealers and others seeking to trade securities on behalf of retail investors.
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Article
SEC accuses J.H. Darbie of violating AML rules
New York-based brokerage firm J.H. Darbie & Co. was charged with violations of anti-money laundering provisions of federal securities laws by the Securities and Exchange Commission for failing to report suspicious activity regarding penny stock transactions.
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Premium
CCO/CECO salary data: Five noteworthy trends
Chief compliance officers are earning more than before compared to previous years of our “Inside the Mind of the CCO” survey, though trends like differences in gender pay persist.
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Article
Equitybee names chief compliance officer
Financial solutions startup Equitybee announced the appointment of Susan Woodard as chief compliance officer. She will also serve as chief executive officer for Equitybee Securities.
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Article
CFPB proposes repeat offender registry for nonbank consumer law violations
The Consumer Financial Protection Bureau proposed a rule that would require certain nonbank financial firms to register consumer protection orders filed against them by other federal agencies, courts, or states into a new, publicly accessible registry.