All Banking articles – Page 53
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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.
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Florida man sentenced for role in collapse of Puerto Rico bank
The CEO of a now-bankrupt pharmaceutical company was sentenced to 30 years in prison for his role in a $100 million plot that triggered Westernbank of Puerto Rico’s collapse.
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Embattled Danske hires HSBC compliance head
Danske Bank, embroiled in a substantial money laundering scandal, has added to its compliance team with the appointment of Simon Kingsbury as head of surveillance & investigation.
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Hong Kong’s SFC bans former Goldman Sachs officer for life
Hong Kong’s Securities and Futures Commission has banned Tim Leissner, a former participating managing director at Goldman Sachs (Asia), from re-entering the industry in connection with his crimes relating to 1MDB.
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ArticleStudy: Financial firms don’t know what they don’t know on climate risks
Financial institutions still struggle with how to manage risks posed by climate change, according to a new report.
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ArticleFive ‘essential components’ of a sanctions compliance program
Chief compliance officers got some much-needed guidance on how to build a well-crafted sanctions compliance program thanks to the recent OFAC framework.
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Amid investigation, Nordea names chief compliance officer
Scandinavia’s biggest banking group, Nordea, has appointed Helene Jepson as chief compliance officer and head of group compliance.
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State Street to pay $88.8M for mutual fund overcharges
State Street will pay $88.8 million to resolve charges with the SEC that it overcharged mutual funds and other registered investment company clients for expenses related to the firm’s custody of client assets.