All Finance articles – Page 50
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ArticleFinCEN warns financial institutions of Russian sanctions evasion
The Financial Crimes Enforcement Network issued guidance highlighting the types of red flags financial institutions should be looking for to detect potential Russian sanctions evasion attempts.
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ArticleSix years later, CW whistleblower subject receives award
Andrew Russo, one of five whistleblowers to share their stories in CW’s “Witness to Wrongdoing” series, has finally received an award from the Securities and Exchange Commission, nearly six years after he filed his claim.
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ArticleCity National Rochdale to pay $30.4M for undisclosed conflicts of interest
Registered investment adviser City National Rochdale has agreed to pay $30.4 million in a settlement with the Securities and Exchange Commission for conflict-of-interest violations.
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ArticleMoneyGram sets aside $15.8M to settle NYDFS, CFPB investigations
MoneyGram disclosed it expects to pay a total of $15.8 million to settle two separate investigations by the New York State Department of Financial Services and the Consumer Financial Protection Bureau.
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ArticleLawsuit by BitMEX co-founder could test GDPR’s reach over SARs
Ben Delo, co-founder of cryptocurrency exchange BitMEX, filed a complaint against Wise Payments after the company allegedly refused his requests under the General Data Protection Regulation to provide him with personal information it submitted via suspicious activity reports.
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Principal Financial names chief compliance officer
Principal Financial Group has named Noreen Fierro as senior vice president, chief compliance officer.
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ArticleIndictment: Infinity Q founder’s attempts to hide fraud aided by CCO
The Department of Justice charged James Velissaris, the former chief investment officer and founder of Infinity Q Capital Management, for his role in a scheme to defraud investors by overvaluing derivative swap positions.
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Freddie Mac appoints general counsel
The Federal Home Loan Mortgage Corp. has appointed Heidi Mason as executive vice president and general counsel.
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ArticleFINRA sanctions compliance officer for AML failures
The Financial Industry Regulatory Authority has ordered a compliance officer to pay $25,000 for failing to establish and implement a “reasonably designed” anti-money laundering compliance program at the brokerage firm where he worked.
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ArticleFINRA 2022 exam report highlights Reg BI compliance, AML trends, more
The Financial Industry Regulatory Authority’s annual report on examinations and risk monitoring contains insights on issues the organization uncovered regarding broker-dealers’ compliance with Regulation Best Interest during the rule’s first full year in existence.
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ArticleSEC proposes enhanced disclosures for private equity and hedge funds
The Securities and Exchange Commission voted to propose a rule that would require hedge funds and private equity funds to provide detailed information on fees, expenses, and performance on a quarterly basis.
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BlackRock names new chief risk officer
Asset management firm BlackRock announced Ed Fishwick will succeed co-founder Ben Golub as chief risk officer at the end of the month.
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ArticleBanks, small firms wary of compliance costs of FinCEN beneficial ownership rule
Comment letters submitted to the Financial Crimes Enforcement Network regarding its proposed beneficial ownership registry rule express concerns related to compliance costs, implementation timelines, and more.
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Justly Markets appoints chief compliance officer
Justly Markets, a broker-dealer focused on granting access to ESG-based investments, appointed Donna Bartlett as chief compliance officer.
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RQD Clearing adds chief compliance officer
Correspondent clearing provider RQD Clearing has appointed Lisa Bridgeford chief compliance officer.
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ArticleFinCEN readying rule for banks to prove AML/CFT programs ‘reasonably designed’
The Financial Crimes Enforcement Network will likely require banks and other financial institutions to assess their anti-money laundering and countering the financing of terrorism programs to ensure they are “effective and reasonably designed.”
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SEC proposes expanded reporting requirements for private funds, trading platforms
The Securities and Exchange Commission issued a pair of proposals that would increase the volume and timeliness of information that certain segments of the market must disclose, in order to provide more transparency and a deeper understanding of potential risks.
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ArticleAdrienne Harris confirmed to lead NYDFS
Former U.S. Treasury official Adrienne Harris was confirmed to be the first Black woman to officially lead the New York State Department of Financial Services.
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ArticleLeaders at BlackRock, SSGA set tone for ESG-focused 2022
The chief executives of BlackRock and State Street Global Advisors earlier this month published their annual letters highlighting topics of importance for the coming year, with climate action and social issues clearly remaining top of mind for both.
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ArticleCCO liability framework seeks to acknowledge compliance support concerns
The National Society of Compliance Professionals has drafted a framework that urges regulators to consider chief compliance officer liability more holistically, in the context of the compliance culture within a CCO’s firm.