- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Neil Hodge2023-08-31T14:05:00
Switzerland’s Financial Market Supervisory Authority (FINMA) published new guidance to improve banks’ money laundering risk analysis after repeatedly identifying shortcomings during on-site supervisory reviews.
The regulator reviewed the risk analyses of more than 30 banks in spring 2023. It found “a “large number (of banks) … did not meet the basic requirements for such an analysis.”
FINMA added even an adequate definition regarding risk tolerance around money laundering—the cornerstone for effective risk analysis—“was lacking in some cases.”
2024-01-26T11:52:00Z By Ruth Prickett
Bonus clawbacks, more fines, and a senior management regime that clearly identifies individual executives’ responsibilities for key governance areas are all options being considered by the Swiss Financial Market Supervisory Authority in response to the collapse of Credit Suisse.
2023-09-05T19:22:00Z By Kyle Brasseur
The Swiss government launched consultation proceedings on a series of reforms designed to combat money laundering and terrorist financing occurring within the country’s financial system.
2023-08-29T12:39:00Z By Neil Hodge
Experts share differences of opinion over whether future anti-money laundering supervision in the United Kingdom should be industry specific and whether a single regulator would be more effective than multiple bodies.
2025-07-08T15:43:00Z By Oscar Gonzalez
The U.S. Department of Labor (DOL) appears to be in the process of deregulating work rules. Some of the changes proposed would result in a reduction of pay for certain health workers and allow minors to work hazardous jobs.
2025-07-07T17:15:00Z By Oscar Gonzalez
SEC Chair Paul Atkins pointed to the growth of tokenized shares as a key development reshaping private markets, suggesting the agency is preparing to update its rules to keep pace with new forms of digital asset trading and settlement.
2025-07-03T15:51:00Z By Ruth Prickett
The EU’s new strategy aims to boost SME growth and cut market barriers, but businesses doubt reforms will happen, and consumer groups fear weaker data protections.
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