All Banking articles – Page 51
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ArticleCompliance takeaways from Barclays’ $6.3M FCPA settlement
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.
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ArticleBMO firms to pay $37M for misleading clients
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.
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Northwestern Mutual appoints chief compliance officer
Northwestern Mutual recently announced it has made several changes to the company’s senior leadership team, including the appointment of a new chief legal and compliance officer.
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Handelsbanken appoints chief compliance officer
Handelsbanken, a Swedish consumer banking company, has announced the appointment of Martin Noréus as chief compliance officer.
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ArticleCompliance failures lead to $15M penalty for Raymond James
A series of compliance failures have resulted in three Raymond James entities being fined $15 million by the SEC over improper charges of advisory fees and excess commissions.
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Embattled Swedbank names permanent CCO
Faced with numerous AML investigations, Swedbank made several significant moves this week, including naming a permanent CCO and agreeing to waive attorney-client privilege by handing over an internal report to local prosecutors.
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ArticleSEC revisiting decades-old bank disclosure guide
The SEC is seeking public comment on proposed updates to statistical disclosures for bank and savings and loan registrants.
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Goldman Sachs appoints chief risk officer, new chief accounting officer
Goldman Sachs disclosed in a securities filing it has appointed both a new chief risk officer and a new principal accounting officer, effective Nov. 4.
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ArticleWhat banking CCOs need to know about new terrorist funding order
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.
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American Riviera Bank names chief compliance and risk officer
American Riviera Bank has named Laurel Sykes as executive vice president, chief compliance and risk officer.
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BankUnited promotes chief risk officer
BankUnited announced Jay Richards has been promoted from chief credit officer to chief risk officer, assuming the role of Mark Bagnoli, who will retire.
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ArticleDanske reported to police over investment mis-selling
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.
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ArticleNew Volcker rule eases restrictions on proprietary trading
The latest amendments to the Volcker rule, a regulation aimed at curbing banks from engaging in proprietary trading, seek to eliminate unnecessary complexity without thwarting the rule’s main objective.
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Midland States names chief accounting officer
Midland States Bancorp announced the promotion of Donald Spring to chief accounting officer.
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ArticleDeutsche Bank to pay $16M in FCPA case over hiring practices
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.
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European Central Bank announces data breach
The European Central Bank announced unauthorized parties breached the security measures protecting its Banks’ Integrated Reporting Dictionary (BIRD) Website, which is hosted by an external provider.
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ArticleEpstein lesson: Ignored compliance advice a red flag
The Jeffrey Epstein scandal serves up a cautionary lesson for those who work for companies that put profits over ethics.
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ArticleSwiss bank ignores compliance officer; pays $10.7M for tax evasion
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.
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FDIC details credit and market risks
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.
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Agencies exclude community banks from the Volcker Rule
Five federal financial regulatory agencies announced this week they have adopted a final rule to exclude community banks from the Volcker Rule.