All Financial Services articles
-
News BriefFCA delays compliance date for certain parts of ESG rule package
The U.K. Financial Conduct Authority is pushing back the date for some firms to comply with its naming and marketing rule amid struggles to prepare for it, the FCA said Monday.
-
News BriefSEC fines nine investment advisers combined $1.2M in ‘ongoing’ marketing rule sweep
Nine investment advisers will pay a total of $1.24 million to settle allegations that they violated the Securities and Exchange Commission’s marketing rule by disseminating advertisements with untrue or misleading information.
-
News BriefSEC penalizes seven firms $3M total for impeding whistleblower protections
Seven public companies will pay a total of $3 million in fines for requiring employees to sign agreements containing provisions that impeded their ability to report misconduct to the Securities and Exchange Commission.
-
PremiumExperts warn U.K. money laundering cases to ‘significantly increase’
The U.K. has an ongoing problem with money laundering, but recent changes to economic crime law and corporate registration requirements could bring more cases to court, according to consultancy KPMG.
-
News BriefSEC fines Nationwide Planning, affiliates combined $240K over impeding whistleblowers
Broker-dealer Nationwide Planning Associates and two affiliated investment advisers impeded potential whistleblowers from reporting misconduct to the Securities and Exchange Commission and have agreed to settle the charges for a combined $240,000.
-
News BriefSix credit rating firms to pay $49M for off-channel comms violations
Six credit rating agencies will pay $49 million in fines to the Securities and Exchange Commission for allowing their employees to communicate on company business using nonapproved communication channels like Whats App and WeChat.
-
PremiumStrengthening BSA/AML defenses: Critical role of ERTs in modern day compliance
Enforcement actions in the first half of of 2024 by the Treasury Department’s Financial Crimes Enforcement Network highlight the importance of proactive measures in Bank Secrecy Act compliance rather than just being compliant.
-
News BriefFed's new capital requirement latest fallout from 2023 banking failures
The Federal Reserve Board will require more than 30 of country’s largest banks to maintain a minimum percentage of capital in reserve, a percentage which the Fed calculated based on their complexity and whether they are considered a global systemically important bank.
-
OpinionIan Sherr joins Compliance Week as its new editor-in-chief
New Compliance Week Editor-In-Chief Ian Sherr shares his thoughts on where compliance is headed as businesses meet the realities of not just following the rules, but staying ahead of the pace of regulatory change at a global scale.
-
News BriefFinCEN finalizes AML rules for investment advisers, cash real estate transactions
The Treasury Department’s Financial Crimes Enforcement Network released new anti-money laundering requirements for U.S. investment advisers and real estate professionals that attempt to close loopholes that criminals and kleptocrats have long exploited.
-
News BriefRaymond James to pay $1.9M over failing to supervise mutual fund transactions
Raymond James & Associates and its subsidiary agreed to pay more than $1.9 million to settle allegations levied by the Financial Industry Regulatory Authority that it didn’t have an effective system to handle customer complaints, along with millions of direct mutual fund transactions not reasonably being supervised.
-
News BriefBank of America unit reaches $3M settlement with FINRA over surveillance lapses
A subsidiary of Bank of America agreed to pay $3 million and take remedial measures to resolve allegations that its surveillance system didn’t detect manipulative trading, the Financial Industry Regulatory Authority said.
-
News BriefBCG avoids criminal prosecution for FCPA violations related to bribes in Angola
The Department of Justice declined to prosecute Boston Consulting Group for allegedly bribing Angolan officials in violation of the Foreign Corrupt Practices Act, citing the firm’s prompt self-disclosure and timely remediation.
-
News BriefNasdaq unit reaches $22M settlement with CFTC over supervision failures
The Commodity Futures Trading Commission fined a Nasdaq subsidiary $22 million over allegedly misleading the public, regulators, and its own compliance staff about the details of a trader incentive program.
-
Blog
Equity Trustees names risk chief
Equity Trustees announced the appointment of Nevein Versace as chief risk officer, effective Sep. 23.
-
Blog
Clarivate names chief administrative, legal officer
Clarivate appointed Melanie Margolin to the expanded role of chief administrative and legal officer.
-
Blog
Vanguard announces general counsel
Investment management firm Vanguard announced that Tonya Robinson will join as general counsel and managing director of its legal division, effective Oct. 1.
-
News BriefPham cries CFTC overreach against compliance officer in $48M fine of TOTSA
The Commodities Futures Trading Commission fined TOTSA TotalEnergies Trading $48 million for allegedly engaging in price manipulation, with Commissioner Carolyn Pham defending a compliance officer at the Swiss energy company accused of making false statements.
-
News BriefCFTC orders BNY to pay $5M over reporting failures
BNY, formerly BNY Mellon, will pay a $5 million fine to the Commodity Futures Trading Commission for “significant reporting failures” related to its swap dealer business.
-
News BriefNordea Bank to pay $35M to resolve NYDFS probe into AML shortcomings
Finland-based Nordea Bank will pay $35 million to resolve an investigation by the New York Department of Financial Services (NYDFS) into “significant compliance failures” in its anti-money laundering and Bank Secrecy Act program.