All articles by Jaclyn Jaeger – Page 70
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Blog
Report stage begins on Sanctions and Anti-Money Laundering Bill
The Sanctions and Anti-Money Laundering Bill began its report stage this week, offering further opportunity to examine the bill and make changes. Two amendments to the bill were made.
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Blog
FCA issues list of unauthorised binary options providers
The U.K. Financial Conduct Authority this month published a list of 94 firms believed to be offering binary options trading to U.K. consumers without FCA authorisation. Since 3 January 2018, all firms trading in binary options need to be authorised by the FCA.
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Article
Responding to ‘right of access’ requests under GDPR
The degree to which the General Data Protection Regulation limits access to EU citizens’ personal data will create enormous data compliance challenges for companies.
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Blog
FCA fines and bans former RBS trader
The Financial Conduct Authority imposed a financial penalty of £250,000 on a former Royal Bank of Scotland interest rate derivatives trader, Neil Danziger, and prohibited him from performing any function in relation to any regulated financial activity.
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Blog
SFO: Tell-tale signs of money laundering
Serious and organised crime costs the United Kingdom an estimated £24 billion a year, states a new government report setting out the threats posed by money laundering. With the report, the government relaunched its “Flag it Up” campaign to raise awareness and show how the legal and accountancy sectors can ...
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Blog
Financial Conduct Authority appoints new chair
HM Treasury this week appointed Charles Randell as the new chair of the Financial Conduct Authority. He will take up the role on 1 April 2018 for a five-year term.
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Blog
OCC: Citibank to pay $70M for AML deficiencies
The Office of the Comptroller of the Currency assessed a $70 million civil penalty against Citibank for failing to comply with the agency’s 2012 consent order related to Bank Secrecy Act and anti-money laundering deficiencies.
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Blog
FINRA sanctions Citigroup Global Markets $11.5M for inaccurate research ratings
The Financial Industry Regulatory Authority has fined Citigroup Global Markets $5.5 million and required the firm to pay at least $6 million in compensation to retail customers for displaying inaccurate research ratings for numerous equity securities during a nearly five-year period, and for related supervisory violations.
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Blog
ESMA statement supports smooth implementation of LEI under MiFID II
The European Securities and Markets Authority issued a statement to support the smooth implementation of Legal Entity Identifiers requirements under the Markets in Financial Instruments Regulation.
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Blog
Bank of England: New approach to supervising global banks
The Bank of England announced that it is consulting on an updated approach to authorising and supervising branches of global banks and insurers, prompting responses from HM Treasury and the U.K. Financial Conduct Authority.
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Blog
Activist investor Nelson Peltz to join P&G board
Procter & Gamble Company said that it has appointed activist investor Nelson Peltz to its board of directors, despite Peltz narrowly losing his seat in the biggest corporate proxy battle ever involving a U.S. company. His appointment is effective March 1, 2018.
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Blog
How Hong Kong is combating corruption: A year-end review
Speaking at a press conference this month, Hong Kong’s Independent Commission Against Corruption discussed its continued efforts in combating corruption and enhancing ethical management and staff integrity within companies.
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Blog
Ciena discloses FCPA probe
Telecommunications company Ciena disclosed in its latest annual report that it has initiated an internal investigation into potential violations of the Foreign Corrupt Practices Act and voluntarily notified U.S. authorities.
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Blog
Australian Federal Police: New guidance for self-reporting foreign bribery
The Australian Federal Police and the Commonwealth Director of Public Prosecutions this month released new joint guidance to assist companies in self-reporting foreign bribery.
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Blog
Italian judge: Shell and Eni must face trial on corruption charges
An Italian judge ruled last week that oil companies Royal Dutch Shell and Eni must face trial on corruption charges concerning a widespread bribery scheme to acquire oil exploration rights in Nigeria.
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Blog
SEC charges operators of $1.2B Ponzi Scheme
The Securities and Exchange Commission announced charges and an asset freeze against a group of unregistered funds and their owner who allegedly bilked thousands of retail investors in a $1.2 billion Ponzi scheme.
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Blog
Former Embraer sales executive pleads guilty to foreign bribery
A former sales executive of Brazilian-based aircraft manufacturer Embraer pleaded guilty last week in connection with a scheme to pay bribes to a high-level foreign government official in exchange for assistance in securing Embraer’s sale of aircraft to Saudi Arabia’s national oil company.
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Blog
Swiss regulator: J.P. Morgan seriously breached AML regulations
The Swiss Financial Market Supervisory Authority, FINMA, concluded its enforcement proceedings against J.P. Morgan Chase, saying the bank "seriously breached" anti-money laundering regulations by failing to screen adequately transactions and business relationships booked in Switzerland associated with the Malaysian sovereign wealth fund 1MDB.
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Blog
FINRA fines Raymond James $2M for flawed e-mail monitoring system
The Financial Industry Regulatory Authority has fined Raymond James Financial Services $2 million for failing to maintain reasonably designed supervisory systems and procedures for reviewing e-mail communications, serving as a warning to compliance officers to review FINRA's guidance concerning the review and supervision of electronic communications.
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Blog
Keppel Offshore to pay $422M to resolve bribery case
Singapore-based Keppel Offshore & Marine and its wholly owned U.S. subsidiary will pay a combined $422 million criminal penalty to resolve charges with authorities in the United States, Brazil, and Singapore arising from a decade-long to pay millions of dollars in bribes to officials in Brazil.