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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2023-02-09T18:43:00
French bank Société Générale is the latest financial institution to be swept up in U.S. regulators’ crackdown on the use of personal cellphones and private apps by employees to conduct official business.
In its fourth-quarter financial statements published online Wednesday, the bank disclosed its U.S.-based investment bank and trading arm, SG Americas Securities, “received requests for information from the U.S. Securities and Exchange Commission (SEC) focused on compliance with record-keeping requirements in connection with business-related communications on messaging platforms that were not approved by the firm.”
The disclosure acknowledged the SEC has entered into settlements with other firms regarding the matter and that SG Americas Securities was cooperating with the investigation.
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News and analysis for the well-informed compliance or audit exec.
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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.
2023-02-22T16:02:00Z By Aaron Nicodemus
The Securities and Exchange Commission and Commodity Futures Trading Commission are investigating Wells Fargo regarding employees’ improper use of off-channel communications to conduct business and the bank’s recordkeeping of those communications.
2024-07-26T19:18:00Z By Jeff Dale
RTX Corp., the parent company of Raytheon, disclosed in a public filing it has reserved $1.24 billion to resolve legacy legal matters with the Department of Justice, Securities and Exchange Commission, and Department of State.
2024-07-26T15:51:00Z By Aaron Nicodemus
The U.K. Financial Conduct Authority issued a fine of $4.5 million (3.5 million pounds) against a U.K.-based subsidiary of crypto platform Coinbase for providing services to high-risk customers in violation of FCA rules.
2024-07-26T13:36:00Z By Adrianne Appel
Admera Health agreed to pay more than $5.5 million to resolve allegations first brought by two whistleblowers that it paid kickbacks to third-party contractors, the Department of Justice said.
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