- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
Regulatory advisory firm Optima Partners announced the appointment of Michael Timotheou, former chief compliance officer at RBC Global Asset Management UK, as president and chief operating officer.
Timotheou previously served as partner, global chief compliance officer, and money laundering reporting officer at BlueBay Asset Management.
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Federal Reserve Board Governor Michelle Bowman argued banking regulators should move from their current reactive posture on banking innovation to a position that actively encourages new technologies, business models, and ideas to solve age-old problems.
The Department of Justice ordered Cape Cod Hospital to pay nearly $24.4 million to settle alleged False Claims Act violations that it knowingly submitted claims to the government for procedures that failed to comply with Medicare rules.
The Treasury Department’s efforts to eliminate regulation loopholes that help enable money laundering in the U.S. financial system will remain a top priority as part of the agency’s 2024 national illicit finance strategy.
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