- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jaclyn Jaeger2021-03-25T16:33:00
Westpac is assessing a demerger from its New Zealand business after the Reserve Bank of New Zealand ordered the unit to commission two independent reports concerning the bank’s liquidity and risk governance processes.
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An independent report ordered by the Reserve Bank of New Zealand into Westpac New Zealand has found the bank is “moving in the right direction” in addressing risk culture deficiencies.
The Reserve Bank of New Zealand issued a formal warning to Westpac’s New Zealand branch for failing to report certain transactions as required under local anti-money laundering regulations.
Westpac is bracing for a record AUD$1.3 billion (U.S. $912.6 million) civil penalty issued by Australia’s financial crime regulator related to a money-laundering scandal and the facilitation of child exploitation in the Philippines and Southeast Asia.
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.
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.
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.
