All Financial Services articles – Page 74
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ArticleProposed Volcker rule rollback gets pushback from agency leadership
Five federal agencies agreed that now would be a good time to ease restrictions on bank investments in hedge funds or private equity funds, triggering concern by some that the deregulation could be harmful. But is apprehension over the proposed Volcker rule relaxation overblown?
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ArticleStudy: Compliance officers in finance face ‘unnecessary risks’
Compliance officers in the financial services industry face “unnecessary risks” that undermine effectiveness and regulatory goals, according to a new report by the Compliance Committee of the New York City Bar Association.
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ArticleLessons from a CCO ‘in way over his head’
A recent court ruling tells the story of a former chief compliance officer that “literally had no idea what he was doing or what he was getting himself into” when he took the position at an investment advisory firm.
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ArticleOCC fines former Wells Fargo CEO $17.5M, bans him from banking industry
Former Wells Fargo Bank CEO John Stumpf was disciplined by the OCC on Thursday, but is the ban of someone in his mid-60s with tens of millions of dollars in net worth really more than a wrist slap?
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ResourceWhite paper: Enforcement Actions: Monitoring Trends, Regulatory Complexity, and Best Practices for Risk Management
Learn how financial compliance, risk, and crime professionals can efficiently track and monitor the growing number of enforcement actions and current trends in Compliance.ai’s latest eBook.
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ArticleSix strategies for FinTech adoption in banking
Thomas Wan of the International Compliance Training Academy outlines strategies for navigating the dynamic terrain of FinTech adoption within the banking industry.
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ArticleFitch Ratings: ESG plays increasingly influential role on bank lending
Environmental, social, and governance factors are increasingly playing an influential role in the underwriting processes of global banks, according to a new report released by Fitch Ratings.
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Wells Fargo adds enterprise risk chief
Financial services giant Wells Fargo announced Price Sloan will join the company as chief strategic enterprise risk officer.
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ArticleUK Finance slams overregulation in financial services sector
UK Finance, the U.K. regulator responsible for the financial services sector, is offering recommendations to curb the abundance of intersecting rules in FS.
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PremiumTop ethics and compliance failures of 2019
From antitrust and privacy concerns in the tech world to compliance officer liability in the pharmaceutical industry to unethical practices in the banking and accounting professions, more than a dozen companies made Compliance Week’s list of the biggest compliance fails in 2019.
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ArticleAGCS report: Five biggest risks for senior managers in 2020
Allianz Global Corporate & Specialty’s latest report highlights five “megatrends” that will have significant risk implications for senior management in 2020 that should be of interest to compliance officers.
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ArticleInternational banking regulator: Big Tech ‘may pose risks to financial stability’
Big technology firms like Amazon, Facebook, Twitter, and Google are a potential risk if they get more heavily involved in providing financial services, says the Financial Stability Board.
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ArticleMorgan Stanley fined $22.2M for manipulating bond prices
France’s financial market regulator has fined Morgan Stanley €20 million (U.S. $22.2 million) for manipulating the price of French and Belgian government bonds in June 2015.
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Swedbank announces governance overhaul, launches culture probe
Swedbank CEO Jens Henriksson announced the financial institution is making some major organizational changes “to create simpler and clearer decision-making structures to facilitate the realization of the bank’s strategy.”
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ResourceWhite paper: File Sharing for Financial Services and Banking Industry
In this age of unprecedented growth in unstructured data, emerging global privacy regulations, and increased threat of cyberattacks, a heightened focus on data security is no longer optional.
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Former Fed Chair Paul Volcker passes away
Paul Volcker, former chairman of the Federal Reserve and eponym to the controversial Volcker rule of the Dodd–Frank Act, died Sunday. He was 92.
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ArticleFederal banking regs ease hemp reporting requirements
New interagency guidance issued this week brings good news for compliance officers of banking institutions with hemp-related customers.
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ArticleWestpac accused of 23M violations of Australian AML rules
Australia’s financial crime regulator has accused Westpac Banking of committing over 23 million breaches of the country’s anti-money laundering and counter-terrorism financing rules.
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Hearsay Systems launches consulting service
Hearsay Systems announced the launch of a new consulting practice to help financial services organizations adhere to industry regulations and implement modern technologies.
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ResourceWhite paper: A Guide to Financial Close Management
Learn how to undergo a digital transformation (in 3 easy steps) that will help you to optimize your financial close process.