All Finance articles – Page 38
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PremiumSurvey: Financial institutions doing more with less by outsourcing compliance
Respondents to a recent survey conducted by Compliance Week and Guidehouse largely indicated outsourcing improved the effectiveness of their compliance program in fighting financial crime, though limits remain on how much can be outsourced.
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News BriefLPL Financial fined $3M by FINRA over supervision lapses
LPL Financial was fined $3 million as part of a settlement with the Financial Industry Regulatory Authority over alleged supervision failures related to transmittal of customer funds and forged signatures by employees.
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Blog
Sallie Mae promotes chief credit risk officer to chief risk officer
Student lender Sallie Mae announced the promotion of Chief Credit Risk Officer Munish Pahwa to executive vice president and chief risk officer.
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ArticleThe importance of quality SARs
Good suspicious activity reports make it easier for financial intelligence units to prioritize and process investigations, enabling better results in the global fight against financial crime.
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PremiumTech capabilities key to finance support of ESG reporting
Finance and accounting is increasingly relied on to provide support regarding companies’ ESG disclosures without being granted additional resources. Technology that enables automation serves as a solution to reduce this burden.
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Blog
Rapyd names chief compliance officer
Fintech company Rapyd announced the appointment of Shlomit Wagman as global chief regulation and compliance officer.
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Blog
Bramshill Investments tabs chief risk officer
Asset management firm Bramshill Investments announced the appointment of Nicolas Amato as chief risk officer.
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News Brief
SEC fines Cantor Fitzgerald $1.4M over large trader filing lapses
Financial services firm Cantor Fitzgerald agreed to pay a $1.4 million penalty as part of a settlement with the Securities and Exchange Commission addressing alleged reporting failures.
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PremiumSurvey: Investment adviser compliance ramps up testing on advertising, marketing
The most popular mock exams conducted by compliance professionals at investment adviser firms this year have been on the Securities and Exchange Commission’s advertising/marketing rule, according to a new poll.
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News BriefSEC on guard in adopting money market fund reforms
The Securities and Exchange Commission voted to approve rule changes affecting money market funds that the agency hopes fare better than previous efforts in the space.
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PremiumSupreme Court to consider case that could affect corporate whistleblowing
The Supreme Court agreed to hear arguments in a case, Murray v. UBS Securities, that has focused attention on the burden of proof whistleblowers reporting misconduct internally must meet to establish retaliation by their public company employer.
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News BriefMerrill Lynch fined $12M over SARs filing failures
Merrill Lynch was assessed penalties totaling $12 million by the Securities and Exchange Commission and Financial Industry Regulatory Authority for allegedly failing to file nearly 1,500 required suspicious activity reports over the course of a decade.
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News BriefCCO among 12 individuals charged in DOJ, SEC insider trading sweep
The Department of Justice and Securities and Exchange Commission announced charges against a dozen individuals across four separate insider trading cases, including an alleged scheme involving the chief compliance officer of an international payment processing company.
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PremiumKroll survey: Firms rapidly adopting AI tools for financial crime compliance
A new survey of senior leaders and risk professionals from around the world found more than half the respondents have turned to artificial intelligence technology to address a perceived rise in financial crime risks, although most solutions are still rather new.
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News BriefACI Worldwide fined $25M for lax data handling, unauthorized transactions
The Consumer Financial Protection Bureau ordered ACI Worldwide to pay a $25 million fine for improper data handling that led to approximately $2.3 billion in erroneous mortgage payment transactions.
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ArticleMOVEit ransomware attack shows sophistication of cybercriminals
In an era marked by an increase in digital threats, it’s vital to understand how sophisticated cybercriminal syndicates like Clop can impact the financial sector.
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News BriefCredit Suisse unit to pay $900K over reporting, supervisory lapses
Credit Suisse Securities agreed to pay $900,000 to settle charges levied by the Financial Industry Regulatory Authority regarding reporting and supervision lapses.
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News BriefJPMorgan unit fined $4M over record retention violations
JPMorgan Securities agreed to pay $4 million to settle charges levied by the Securities and Exchange Commission regarding record retention violations related to the deletion of approximately 47 million electronic communications.
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News Brief
SEC bars convicted ex-CCO at investment adviser from industry
The convicted former chief compliance officer at an unnamed New York-based investment adviser was barred from working in the industry by the Securities and Exchange Commission.
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PremiumCFTC commissioner crafting potential proposed rule on cyber resiliency
The Commodity Futures Trading Commission’s Technology Advisory Committee sponsored by Commissioner Christy Goldsmith Romero is crafting potential rulemaking to establish cyber resiliency baselines among swap dealers and futures commission merchants.