- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2024-02-05T21:28:00
The Reserve Bank of India (RBI) ordered a halt to many banking activities of digital payments provider Paytm while the regulator investigates “persistent noncompliances and continued material supervisory concerns.”
Paytm Payments Bank and its parent company, One97 Communications, made several disclosures to the National Stock Exchange of India indicating One97 would continue operating despite the RBI’s “embargo” on Paytm. The company also tamped down speculation the RBI’s enforcement directorate was conducting investigations into money laundering or foreign exchange rules violations at Paytm.
In addition to ceasing the acceptance of new customers, the RBI ordered Paytm to stop taking deposits and processing credit transactions or fund transfers after Feb. 29, it said in a Jan. 31 press release.
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2024-02-01T18:32:00Z By Jeff Dale
The Office of the Comptroller of the Currency levied a $65 million civil penalty against Los Angeles-based City National Bank over alleged risk management and internal control failures.
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After dismissing its lawsuit against the crypto exchange Coinbase in March, a second investigation into the exchange by the Securities and Exchange Commission has surfaced, according to a report from the New York Times. This comes as a bit of a surprise after the Trump administration has been scaling down ...
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