- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Jeff Dale2023-07-28T16:00:00
French bank BNP Paribas disclosed it reached proposed settlements with the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) regarding alleged use of off-channel communications for business by employees.
Investigations by the regulators concerned “compliance with records preservation requirements relating to the use of unapproved electronic messaging platforms for business communications,” the bank said in its consolidated financial statements for the first half of 2023.
BNP Paribas Securities Corp. reached proposed settlements with the CFTC and SEC, while BNP Paribas SA reached a proposed settlement with the CFTC. The settlements are subject to final approval by the regulators.
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
2023-08-08T15:48:00Z By Kyle Brasseur
The Securities and Exchange Commission and Commodity Futures Trading Commission continued their crackdown on financial firms’ recordkeeping failures regarding employee use of off-channel communications with $555 million in total fines levied against nine institutions and their affiliates.
2023-07-25T20:24:00Z By Aaron Nicodemus
Stockholder lawsuits have emerged as the latest aftershock from the regulatory crackdown against banks and financial services firms for allowing off-channel business communications by their employees.
2023-05-11T19:28:00Z By Aaron Nicodemus
The Bank of Nova Scotia and HSBC were fined $22.5 million and $15 million, respectively, by U.S. regulators for admitted recordkeeping failures regarding employee use of off-channel communications to conduct company business.
2025-05-01T14:39:00Z By Neil Hodge
Antitrust infringement cases in the United Kingdom can run on for years, but there’s a question whether issuing fines that are dwarfed by the revenues of those organisations involved is a worthy deterrent—particularly if they are imposed over a decade after the misconduct ended. It’s also debatable whether the first ...
2025-04-22T12:00:00Z
The Federal Trade Commission (FTC) filed a lawsuit against Uber, alleging the ride-hailing company signed customers up for its Uber One subscription without consent, then made it hard for them to cancel. The move marks the U.S. government’s latest broadside against big tech companies, and the first major action from ...
2025-04-18T17:45:00Z By Oscar Gonzalez
The U.S. Consumer Financial Protection Bureau continues to unravel amid pressure from Trump administration officials to shutter the agency. Not only has the agency informed its employees that it will no longer be a watchdog for the financial services industry, it has also laid off employees despite court orders blocking ...
Site powered by Webvision Cloud