Environmental, social, and governance factors are increasingly playing an influential role in the underwriting processes of global banks, according to a new report released by Fitch Ratings.
UK Finance, the U.K. regulator responsible for the financial services sector, is offering recommendations to curb the abundance of intersecting rules in FS.
From antitrust and privacy concerns in the tech world to compliance officer liability in the pharmaceutical industry to unethical practices in the banking and accounting professions, more than a dozen companies made Compliance Week’s list of the biggest compliance fails in 2019.
Allianz Global Corporate & Specialty’s latest report highlights five “megatrends” that will have significant risk implications for senior management in 2020 that should be of interest to compliance officers.
Big technology firms like Amazon, Facebook, Twitter, and Google are a potential risk if they get more heavily involved in providing financial services, says the Financial Stability Board.
France’s financial market regulator has fined Morgan Stanley €20 million (U.S. $22.2 million) for manipulating the price of French and Belgian government bonds in June 2015.
Swedbank CEO Jens Henriksson announced the financial institution is making some major organizational changes “to create simpler and clearer decision-making structures to facilitate the realization of the bank’s strategy.”
In this age of unprecedented growth in unstructured data, emerging global privacy regulations, and increased threat of cyberattacks, a heightened focus on data security is no longer optional.
Paul Volcker, former chairman of the Federal Reserve and eponym to the controversial Volcker rule of the Dodd–Frank Act, died Sunday. He was 92.
New interagency guidance issued this week brings good news for compliance officers of banking institutions with hemp-related customers.
Australia’s financial crime regulator has accused Westpac Banking of committing over 23 million breaches of the country’s anti-money laundering and counter-terrorism financing rules.
Learn how to undergo a digital transformation (in 3 easy steps) that will help you to optimize your financial close process.
IBM announced it has designed the world’s first financial services-ready public cloud and is welcoming financial services institutions and their suppliers to join. Bank of America is already on board.
UniCredit announced its cyber-security team has identified a data breach that compromised the personal records of approximately three million clients in Italy, highlighting critical compliance lessons for those in the financial services industry.
Mastercard is inviting other companies to join it in addressing individuals’ privacy rights with the launch of its Data Responsibility Imperative.
Mounting criticism for going too soft on the financial services industry under Trump has not stopped new CFPB Director Kathleen Kraninger from putting her own stamp on the agency. The latest enforcement actions offer valuable insights for compliance officers and corporate counsel.
The SEC, CFTC, FDIC, and OCC have joined a group of 50 financial authorities from around the world that comprise the Global Financial Innovation Network.
In this “Ask Amii” mailbag, executive coach and former Chief Compliance Officer Amii Barnard-Bahn discusses the pros and cons of outsourcing compliance, breaking tough news to business partners, and how to transfer compliance skills out of finance.
The U.K. Serious Fraud Office has closed its investigation into manipulation of the London Interbank Offered Rate (LIBOR), ending a probe that began more than seven years ago.
The Federal Reserve Board of Governors approved final rules that tailor its regulations for domestic and foreign banks to more closely link regulatory requirements to the institutions’ risk profiles.
Best practices for using AI & ML to enhance audio recording supervision programs.
New OCC requirements mean national banks and federal savings associations with assets under $250 billion will no longer have to self-administer stress tests annually.
Barclays joins a growing list of financial institutions to pay a penalty for violations of the books and records and internal accounting controls provisions of the FCPA due to questionable hiring practices.
Two BMO advisory firms have agreed to pay over $37 million in a settlement with the SEC for misleading clients on aspects of their retail investment advisory program.
The U.K. Financial Conduct Authority has hit Prudential with a £23.8 million (U.S. $26.4 million) fine for misleading 17,000 customers into accepting a deal with the insurance firm when they might have done better on the open market.
The SEC is seeking public comment on proposed updates to statistical disclosures for bank and savings and loan registrants.
Two broker-dealers must pay a combined $4.65 million in penalties for providing incomplete and inaccurate securities trading information to the SEC. Prudent compliance officers might want to take a page from their remedial efforts.
The SEC has charged two subsidiaries of Prudential Financial with failing to disclose conflicts of interest and making misleading disclosures to the boards for 94 funds they advised.
Impacted financial institutions, including cryptocurrency exchangers, may want to review know-your-customer policies and anti-money laundering compliance in light of President Trump’s executive order.
The Swiss Financial Market Supervisory Authority has published new guidance on how it applies AML rules to the financial services providers it supervises in the area of blockchain technology.
Denmark’s financial regulator has filed a criminal complaint against Danske Bank over a mis-selling scandal that saw its former interim chief executive get fired in June this year.
FinCEN announced the launch of its newly created Global Investigations Division, with responsibility for targeting terrorist financing and money laundering threats, both domestically and internationally.
The Financial Accounting Standards Board has approved delays for its credit loss standard, a.k.a. CECL, but companies—especially financial institutions—still have a long way to go.
Deutsche Bank has become the latest financial institution to pay a penalty for violations of the Foreign Corrupt Practices Act over questionable hiring practices, showcasing a litany of compliance failures.
Brokers Cantor Fitzgerald and BMO Capital Markets will combine to pay more than $4.5 million to settle charges of improper handling of “pre-released” American Depositary Receipts.
The Federal Reserve is making an effort to develop a round-the-clock real-time payment and settlement service.
A Swiss-based private bank reached a $10.7 million settlement and entered into a non-prosecution agreement with the U.S. Department of Justice for committing tax evasion after recommendations made by its compliance officer went ignored.
The Federal Deposit Insurance Corporation this week published its 2019 Risk Review, an annual publication highlighting emerging risks and exposures that could affect the banking system in the months ahead.
Capital One Financial announced a hacker obtained the personal information of approximately 100 million individuals in the United States and approximately six million individuals in Canada.