- 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.
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.
2025-07-01T23:26:00Z By Oscar Gonzalez
Since President Donald Trump took office, the U.S. Federal Trade Commission has yet to keep up the level of enforcement it had under previous chair Lina Khan. The agency, however, returned to antitrust action in the case of fuel stations, just in time for the July 4th holiday.
2025-06-25T16:29:00Z By Oscar Gonzalez
In May, three commissioners for the Consumer Product Safety Commission were abruptly fired by President Donald Trump and sued for their jobs shortly after. A federal judge has ruled that the commissioners should be reinstated, although it’s unclear whether that ruling may itself be reversed.
2025-06-19T19:28:00Z By Ruth Prickett
Fraud now accounts for around 40% of all crime in the U.K., posing a major problem for banks and consumers. Ted Datta, head of industry practice for financial crime compliance at Moody’s, warns that the risk is growing fast.
Site powered by Webvision Cloud