- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2023-12-29T16:04:00
The Monetary Authority of Singapore (MAS) imposed a 3.9 million Singapore dollars (U.S. $3 million) penalty on Credit Suisse for failing to detect misconduct by relationship managers at its Singapore branch.
The fine, announced Thursday, was levied after the MAS found Credit Suisse relationship managers provided false or incorrect information, or omitted key information, to private banking clients in post-trade disclosures affecting 39 over-the-counter bond transactions. The misconduct was discovered during an MAS review of pricing and disclosure practices in the private banking industry.
Credit Suisse admitted liability as part of the settlement and paid the fine, the MAS said.
2023-11-27T19:38:00Z By Aaron Nicodemus
Risks posed by money laundering and the financing of terrorism have dramatically increased in Singapore, according to a recent survey of the city-state’s financial institutions conducted by the Monetary Authority of Singapore.
2023-11-06T17:26:00Z By Kyle Brasseur
The chief executive officer of DBS, Singapore’s largest bank, acknowledged exposure of about 100 million Singapore dollars (U.S. $74 million) related to the city-state’s money laundering scandal.
2023-10-20T16:28:00Z By Aaron Nicodemus
A Singapore financial regulator will reportedly conduct an on-site inspection of a local Credit Suisse unit in connection with a 2.8 billion Singapore dollar (U.S. $2 billion) money laundering scandal.
2025-06-12T15:51:00Z By Neil Hodge
Europe’s pioneering data protection legislation turned seven years old in May, but the compliance and enforcement difficulties that have dogged the rules since they came into force look set to present both companies and data regulators with fresh headaches for some time to come.
2025-06-11T15:12:00Z By Adrianne Appel
The Department of Justice has charged the founder of cryptocurrency company Evita with 22 violations for allegedly laundering more than $500 million through U.S. banks and cryptocurrency exchanges, on behalf of sanctioned Russian entities.
2025-06-07T01:41:00Z By Oscar Gonzalez
The Securities and Exchange Commission Chair Paul Atkins explained his agency’s shift on cryptocurrency regulation to a Senate committee as legislators bargain over President Donald Trump’s “One Big Beautiful Bill” and the GENIUS Act, which would have the federal government invest heavily in cryptocurrency.
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