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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2022-08-25T17:47:00
A current HSBC Bank USA executive claimed in a federal lawsuit she was discriminated and retaliated against for raising regulatory violations involving unauthorized communications by bank employees that were downplayed or ignored by management.
Monique Thacker, an HSBC Bank employee since 2013 and a woman of Indian descent, made the allegations in a discrimination lawsuit filed Aug. 19 in U.S. District Court for the Southern District of New York. She seeks a jury trial to weigh her claims and determine compensatory damages.
Thacker claimed in her lawsuit she raised concerns in April regarding the unauthorized use of WhatsApp by two private banking employees, less than a week after the bank issued a warning to all employees not to use unauthorized communication channels to conduct firm business. Thacker claimed the two employees were denigrating the compliance department in their WhatsApp chat.
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News and analysis for the well-informed compliance or audit exec.
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Our lowest price ($1 per day) for one year.
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2023-05-12T21:06:00Z By Aaron Nicodemus
HSBC was fined $45 million by the Commodity Futures Trading Commission over allegations its traders used manipulative and deceptive trading practices. The bank and its subsidiaries were separately fined $30 million by the CFTC for business use of off-channel communications by employees.
2022-09-28T18:39:00Z By Aaron Nicodemus
Eleven banks, investment firms, and their affiliates will pay a total of more than $1.8 billion in fines for “widespread and longstanding failures” in monitoring, maintaining, and preserving electronic communications by employees.
2022-09-12T19:05:00Z By Neil Hodge
Big Four audit firm PwC is being sued by one of its employees for more than £200,000 (U.S. $234,000) after he injured himself at a post-work drink event in 2019. The incident is not the first where “team-bonding” efforts have proven problematic.
2024-07-25T17:36:00Z By Jeff Dale
The Consumer Financial Protection Bureau is warning companies against intimidating potential whistleblowers by forcing them to sign broad nondisclosure agreements to deter misconduct from coming to light.
2024-07-19T16:20:00Z By Aaron Nicodemus
A whistleblower will be paid $37 million by the Securities and Exchange Commission for providing original, credible information that led to a successful enforcement action.
2024-07-16T16:48:00Z By Aaron Nicodemus
Anonymous employees of OpenAI accused the company of requiring employees to sign nondisclosure agreements (NDAs) that “prohibited and discouraged” them from reporting securities law violations to federal regulators.
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