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Bipartisan bill would empower FDIC to pursue failed bank exec clawbacks
2023-03-30T14:42:00+01:00By Aaron Nicodemus
The Failed Bank Executives Clawback Act seeks to require the Federal Deposit Insurance Corporation to claw back five years’ worth of compensation from executives who lead failed banks.
‘An unexpected stress test’: European banks weathering storm of U.S. failures
2023-03-30T14:40:00+01:00By 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.
SEC warns newly registered advisers of overburdening CCOs
2023-03-30T13:45:00+01:00By Kyle Brasseur
Investment advisers newly registering with the SEC have been observed not devoting sufficient resources to their chief compliance officers, sometimes ladling additional responsibilities on the role that take away from time to focus on compliance.
FinCEN mulling beneficial ownership reporting changes amid criticism
2023-03-29T18:38:00+01:00By Aaron Nicodemus
The reporting requirements of the beneficial ownership information registry being developed by the Financial Crimes Enforcement Network will likely be revised following harsh criticism from lawmakers and businesses.
William Hill fined record $23.7M for social responsibility, AML failures
2023-03-29T18:13:00+01:00By Jeff Dale
The U.K. Gambling Commission announced three units of British bookmaking service William Hill Group will pay a record fine of £19.2 million (U.S. $23.7 million) for failures regarding social responsibility and anti-money laundering.
Vale to pay $55.9M in SEC settlement over dam disclosures
2023-03-29T17:02:00+01:00By Adrianne Appel
Brazilian mining company Vale agreed to pay $55.9 million to settle Securities and Exchange Commission charges it issued false and misleading statements regarding the safety conditions of its dams.
Audit client turnover 2022: Deloitte gains among Big Four, Marcum biggest winner
2023-03-29T15:00:00+01:00By Kyle Brasseur
Deloitte was the only Big Four audit firm to net positive in new public company clients in 2022, while Marcum saw the largest overall gains a year removed from losing 110 clients, according to the latest annual study.
Iowa privacy bill signed into law; effective 2025
2023-03-29T13:55:00+01:00By Kyle Brasseur
Iowa became the sixth U.S. state to pass comprehensive data protection legislation allowing residents control over how their personal information is accessed and shared.