News and analysis for the well-informed compliance or audit exec.
Annual Membership best value
Subscribe now for $365
Our lowest price ($1 per day) for one year.
Register for free
Receive the CW newsletter and access CPE webcasts.
- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2023-01-26T18:23:00
Morgan Stanley fined its employees up to $1 million for using unauthorized communication channels in violation of recordkeeping rules, according to multiple reports.
Penalties levied against employees ranged from a few thousand dollars to as much as $1 million for using social messaging apps like WhatsApp to discuss company business, according to reports from the Financial Times and Wall Street Journal.
THIS IS MEMBERS-ONLY CONTENT. To continue reading, choose one of the options below.
News and analysis for the well-informed compliance or audit exec.
Annual Membership best value
Subscribe now for $365
Our lowest price ($1 per day) for one year.
Register for free
Receive the CW newsletter and access CPE webcasts.
2023-08-09T15:10:00Z By Aaron Nicodemus
The Securities and Exchange Commission and Commodity Futures Trading Commission have indicated they will be more forgiving to financial services firms that voluntarily self-report recordkeeping violations and take remedial actions before being asked to do so.
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.
2024-07-24T17:54:00Z By Neil Hodge
A lack of risk visibility is causing companies to reject customers–and potentially lose money–over fears they might be in danger of violating rules around anti-money laundering and sanctions regulations.
2024-07-15T16:45:00Z By Jeff Dale
The Treasury Department’s Financial Crimes Enforcement Network updated an alert first issued in February warning financial institutions of Israeli extremists fomenting violence in the West Bank.
2024-06-28T19:30:00Z By Jeff Dale
A Bank of England report warned of private equity risk management deficiencies as interest rates remain stagnant, with international coordination important.
Site powered by Webvision Cloud