All Finance articles – Page 10
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Blog
Cetera Investment Services gets compliance chief
Cetera Financial Group announced that Gwen Weithaus has been named chief compliance officer for Cetera Investment Services.
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News BriefMondo TV reaches $538K settlement with OFAC over N. Korea sanctions violations
Italy-based Mondo TV agreed to pay $538,000 to settle charges with the Treasury Department’s Office of Foreign Assets Control over 18 apparent violations of North Korea sanctions regulations.
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News BriefBanking regs find flaws in resolution plans for BoA, JPM, Goldman Sachs, Citi
Two federal banking regulators found deficiencies with the sale of derivatives in the resolution plans of Bank of America, Goldman Sachs, and JPMorgan Chase, while the regulators disagreed on the severity of an issue with Citigroup’s plan.
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PremiumCiti report: GenAI revolution will bring increased need for compliance
A new report on the use of artificial intelligence in financial services predicts that the technology will drive profits, disruptions, and change over the next decade.
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News BriefOFAC sanctions drug cartel over China procurement; FinCEN issues advisory
The Treasury Department’s Office of Foreign Assets Control and Secretary Janet Yellen announced sanctions Thursday against the top leaders of La Nueva Familia Michoacana drug cartel over the illicit trafficking of synthetic opioid fentanyl in the United States.
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News BriefCFPB proposes $3.95M fine against Freedom Mortgage over repeated data errors
Freedom Mortgage Corp. would have to pay a $3.95 million fine and carry out regular auditing and testing of its loan data under a proposed order by the Consumer Financial Protection Bureau.
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News BriefOCC emphasizes compliance’s role in FI’s operational resiliency
Compliance departments at financial institutions must become more involved in ensuring their firm’s operational resiliency to address emerging risks, the Treasury Department’s Office of the Comptroller of the Currency said in its semi-annual risk perspective.
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News BriefCFTC awards whistleblower $8M despite involvement in misconduct
A whistleblower received an $8 million award from the Commodity Futures Trading Commission for uncovering fraud—even though the agency deemed the whistleblower was culpable in the misconduct.
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Blog
HGGC adds GC, CCO
Middle-market private equity firm HGGC announced it has named Rachel Stock as general counsel and chief compliance officer.
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Blog
Payzli announces chief risk officer
Payzli announced that Arash Izadpanah will be its chief risk officer.
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News BriefCredit Suisse unit inks deal with OCC over BSA/AML obligations
The New York branch of Swiss bank Credit Suisse reached a deal with the Treasury Department’s Office of the Comptroller of the Currency (OCC) over compliance with its Bank Secrecy Act and anti-money laundering obligations.
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PremiumSEC, CFTC actively probe off-channel comms violations, top officials say
Two senior officials from the Securities and Exchange Commission and Commodity Futures Trading Commission described how both agencies are committed to rooting out off-channel communications among registered entities for the long term.
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Blog
Karma Wallet names ex-Visa sustainability chief as strategic adviser
Fintech company Karma Wallet announced the appointment of Douglas Sabo, former Visa chief sustainability officer, as a strategic adviser.
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News BriefAnson Funds, affiliate to pay $2.25M for fund disclosure violations
Registered investment adviser Anson Funds Management and exempt reporting adviser Anson Advisers will combine to pay more than $2 million for allegedly misleading investors about their short fund strategy and related recordkeeping violations.
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Blog
GT Independence announces compliance chief
Financial management services company GT Independence announced Megan Owen has stepped into the role of chief compliance officer.
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PremiumBIS’s Axelrod makes plea to financial services: ‘We want to work with you’
Matthew Axelrod, assistant secretary for export enforcement at the Bureau of Industry and Security, addressed efforts to reach financial services firms, working with the Financial Crimes Enforcement Network, and more during his fireside chat at CW’s Financial Crimes Summit.
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PremiumCFTC’s Pham critical of agency stances on CCO liability, self-disclosure credit
Caroline Pham, a commissioner at the Commodity Futures Trading Commission, said compliance officers have a lot to worry about if they or their firms are subject to CFTC enforcement during her fireside chat at CW’s Financial Crimes Summit.
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Blog
Paycom promotes GC to legal chief
Paycom announced that Matt Paque, who previously served as general counsel, has been promoted to chief legal officer.
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News BriefFinCEN BSA data: Fraud, money laundering top suspicious activities
The Financial Crimes Enforcement Network published its latest collection of Bank Secrecy Act data, including number and type of suspicious activity reports.
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PremiumOCC’s Hsu encourages banks to apply guardrails to AI use
Warning of an “eventual reckoning” on artificial intelligence use by financial institutions, the acting head of the Office of the Comptroller of the Currency said the industry should learn lessons on how similar disruptive technologies evolved from being helpful to dangerous.