- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Neil Hodge2023-04-12T14:55:00
The recent case of a bank heavily reliant on business coming from the group of companies that owned it raises questions about the risks such exposure causes to financial institutions, their customers, and the sector at large.
On April 4, the Bank of England’s enforcement arm, the Prudential Regulation Authority (PRA), censured Wyelands Bank for “wide-ranging” and “significant” regulatory failings that took place between December 2016 and May 2020.
Wyelands became the first financial institution to prompt the regulator to act against it for flouting rules regarding large capital exposure limits and failing to act in a prudent manner. Other serious breaches cited in the PRA’s final notice related to capital reporting, risk and governance controls, and poor retention of WhatsApp messages.
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2025-03-27T13:11:00Z By Jeff Dale
The U.K. Financial Reporting Council issued penalties against PwC and a former auditor over deficiencies on work related to the 2019 financial statements of now shuttered Wyelands Bank.
2023-04-13T13:48:00Z By Aaron Nicodemus
The collapse of Silicon Valley Bank highlighted for the Federal Deposit Insurance Corporation some of the impediments to a quick bank sale, including failing to provide rapid access to quality financial data and lists of key employees.
2023-03-30T14:40:00Z By Neil Hodge
Except for Credit Suisse’s demise, Europe has so far largely patted itself on the back for preventing further contagion in the banking sector following the failures of Silicon Valley Bank, Silvergate Bank, and Signature Bank in the United States.
2025-05-20T12:30:00Z By Oscar Gonzalez
The U.S. Federal Trade Commission (FTC) took action against a pair of student loan debt relief companies for allegedly deceiving borrowers. The move came despite the Trump administration’s broader efforts to roll back enforcement actions against businesses since taking office.
2025-05-16T19:24:00Z By Oscar Gonzalez
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 ...
2025-05-16T14:16:00Z By Aaron Nicodemus
As the Consumer Financial Protection Bureau steps back from its core mission of protecting American consumers, states like New York and Pennsylvania are stepping up to fill the regulatory void.
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