All Financial Services articles – Page 75
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ArticleIBM, BoA collaborate on financial services-ready public cloud
IBM announced it has designed the world’s first financial services-ready public cloud and is welcoming financial services institutions and their suppliers to join. Bank of America is already on board.
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ArticleData protection compliance lessons from UniCredit breach
UniCredit announced its cyber-security team has identified a data breach that compromised the personal records of approximately three million clients in Italy, highlighting critical compliance lessons for those in the financial services industry.
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ArticleMastercard encourages unity with data privacy initiative
Mastercard is inviting other companies to join it in addressing individuals’ privacy rights with the launch of its Data Responsibility Imperative.
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Article
Despite reputation, CFPB not toothless under new leadership
Mounting criticism for going too soft on the financial services industry under Trump has not stopped new CFPB Director Kathleen Kraninger from putting her own stamp on the agency. The latest enforcement actions offer valuable insights for compliance officers and corporate counsel.
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ArticleKey U.S. regulators join global financial network
The SEC, CFTC, FDIC, and OCC have joined a group of 50 financial authorities from around the world that comprise the Global Financial Innovation Network.
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ArticleAsk Amii mailbag: Using compliance skill sets to influence operations
In this “Ask Amii” mailbag, executive coach and former Chief Compliance Officer Amii Barnard-Bahn discusses the pros and cons of outsourcing compliance, breaking tough news to business partners, and how to transfer compliance skills out of finance.
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ArticleSFO closes long-running LIBOR manipulation investigation
The U.K. Serious Fraud Office has closed its investigation into manipulation of the London Interbank Offered Rate (LIBOR), ending a probe that began more than seven years ago.
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Article
Fed rule tailors bank regulations to link requirements to risk
The Federal Reserve Board of Governors approved final rules that tailor its regulations for domestic and foreign banks to more closely link regulatory requirements to the institutions’ risk profiles.
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ResourceWhite paper: Best practices for Audio Recording Supervision
Best practices for using AI & ML to enhance audio recording supervision programs.
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ArticleOCC eases stress-testing requirements for banks
New OCC requirements mean national banks and federal savings associations with assets under $250 billion will no longer have to self-administer stress tests annually.
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ArticleCompliance takeaways from Barclays’ $6.3M FCPA settlement
Barclays joins a growing list of financial institutions to pay a penalty for violations of the books and records and internal accounting controls provisions of the FCPA due to questionable hiring practices.
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ArticleBMO firms to pay $37M for misleading clients
Two BMO advisory firms have agreed to pay over $37 million in a settlement with the SEC for misleading clients on aspects of their retail investment advisory program.
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ArticleFCA fines Prudential $26.4M in misselling scandal
The U.K. Financial Conduct Authority has hit Prudential with a £23.8 million (U.S. $26.4 million) fine for misleading 17,000 customers into accepting a deal with the insurance firm when they might have done better on the open market.
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ArticleSEC revisiting decades-old bank disclosure guide
The SEC is seeking public comment on proposed updates to statistical disclosures for bank and savings and loan registrants.
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ArticleTwo broker-dealers to pay $4.65M for providing deficient ‘blue sheet data’
Two broker-dealers must pay a combined $4.65 million in penalties for providing incomplete and inaccurate securities trading information to the SEC. Prudent compliance officers might want to take a page from their remedial efforts.
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ArticlePrudential subsidiaries to pay $33M for misleading disclosures
The SEC has charged two subsidiaries of Prudential Financial with failing to disclose conflicts of interest and making misleading disclosures to the boards for 94 funds they advised.
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ArticleWhat banking CCOs need to know about new terrorist funding order
Impacted financial institutions, including cryptocurrency exchangers, may want to review know-your-customer policies and anti-money laundering compliance in light of President Trump’s executive order.
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Article
FTI Consulting expands financial services practice
FTI Consulting announced the expansion of its financial services practice within the Forensic and Litigation Consulting segment with the appointment of three professionals in New York.
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ArticleFINMA publishes AML guidance on blockchain
The Swiss Financial Market Supervisory Authority has published new guidance on how it applies AML rules to the financial services providers it supervises in the area of blockchain technology.
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ArticleDanske reported to police over investment mis-selling
Denmark’s financial regulator has filed a criminal complaint against Danske Bank over a mis-selling scandal that saw its former interim chief executive get fired in June this year.