- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
Fenergo, a provider of client lifecycle management solutions for financial institutions, announced Rules as a Service, a cloud-based regulatory rules offering.
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The value of penalties against global financial services firms in 2021 dropped to half the total levied in 2020, according to research by compliance technology provider Fenergo.
Financial institutions have been hit with $10.4 billion in global fines and penalties related to AML, KYC, data privacy, and MiFID regulations in 2020, according to a recent Fenergo report.
In the aftermath of the “FinCEN Files” leak, financial industry practitioners polled by Fenergo say changing the system needs to start within their own institutions.
