All Finance articles – Page 34
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News BriefSEC examiners flag deficiencies in Reg BI compliance
The Securities and Exchange Commission issued a risk alert listing deficiencies its examiners found in broker-dealers’ compliance with Regulation Best Interest.
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Blog
Wellings Capital unit appoints chief compliance officer
Wellings Real Estate Income Fund announced the appointment of Adrienne Hart as chief compliance officer.
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Blog
Kain Capital names chief compliance officer
Private equity firm Kain Capital announced the appointment of Bret Cummings as chief financial officer and chief compliance officer.
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News BriefSEC seeks to revive Dodd-Frank rule on conflicts in securities trading
The Securities and Exchange Commission resurrected an unfulfilled mandate of the Dodd-Frank Act that would prevent the sale of certain securities if there is a conflict of interest.
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Blog
CCO of Apollo units to depart
MidCap Financial Investment Corp. and Apollo Debt Solutions BDC will be searching for new compliance leadership following the resignation of Chief Compliance Officer Isabelle Gold.
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Blog
FINRA enforcement head to depart, acting successor announced
The Financial Industry Regulatory Authority announced longtime Head of Enforcement Jessica Hopper will depart Feb. 3.
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Blog
Marygold Companies tasks CCO with leading fintech subsidiary
Global holding firm The Marygold Companies announced the appointment of Timothy Rooney to head the company’s financial technology startup, Marygold & Co.
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Blog
Alpine Investors appoints general counsel, CCO
Alpine Investors announced the appointment of Alexandria Stuart as general counsel and chief compliance officer.
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News BriefBloomberg to pay $5M for misleading disclosures about rate calculations
Bloomberg Finance agreed to pay $5 million to settle Securities and Exchange Commission charges alleging misleading disclosures it made about how it calculated the valuations it provided on fixed-income securities to the financial services industry.
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News Brief
Moors & Cabot to pay $1.9M for conflict of interest disclosure lapses
Investment adviser Moors & Cabot reached a $1.9 million settlement with the Securities and Exchange Commission over allegations the firm didn’t fairly disclose conflicts of interest associated with incentive payments it received from two unaffiliated clearing brokers.
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Blog
Fitch Ratings CCO promoted to general counsel
Fitch Group, a provider of financial information services, announced the appointment of Bruce Legorburu as general counsel. Heather Merrigan replaces Legorburu as chief compliance officer for Fitch Ratings.
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News BriefFINRA focuses on financial crime in annual exam report
The Financial Industry Regulatory Authority’s annual report on examinations and risk monitoring indicated a new emphasis for the regulator on combating financial crime, particularly cybercrime.
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ArticleFinCEN report identifies financial trends of Russian oligarchs
The Financial Crimes Enforcement Network published an analysis of financial trends involving Russian oligarchs and how U.S. financial institutions have aided in the identification of more than $30 billion worth of sanctioned Russians’ assets.
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ArticleSEC fines PNC unit over municipal bond disclosure lapses
Broker-dealer PNC Capital Markets agreed to pay nearly $200,000 and be censured to resolve Securities and Exchange Commission allegations it violated rules related to limited offerings of municipal securities.
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Article‘Period of uncertainty’ projected as U.K. embarks on ‘Edinburgh Reforms’
The “Edinburgh Reforms” aim to establish a smarter regulatory framework for the United Kingdom that is agile, less costly, and more responsive to emerging trends. Experts weigh in on the proposed changes.
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ArticleCHS Hedging AML controls criticized in $6.5M CFTC action
CHS Hedging, a Minnesota-based futures commission merchant, was fined $6.5 million by the Commodities Futures Trading Commission for AML program gaps and other risk management and recordkeeping failures regarding a ranch owner customer committing fraud.
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Article
ASX appoints chief compliance officer
The Australian Securities Exchange announced the appointment of Daniel Moran as chief compliance officer, effective Jan. 1, 2023.
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ArticleNYDFS issues guidance for banks interested in virtual currency
The New York State Department of Financial Services issued guidance outlining guidelines banks and financial institutions must follow to engage in virtual currency activities in the state.
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ArticleFed rule sets SOFR as LIBOR replacement
The Federal Reserve Board adopted a rule that will officially set the Secured Overnight Financing Rate as the benchmark rate in financial contracts that reference the expiring London Interbank Offered Rate.
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ArticleSEC, DOJ charge traders with fraud in $47M front-running scheme
An equity trader was charged with unlawfully disclosing inside, nonpublic information about upcoming trades to a retired professional trader, resulting in $47 million in illegal gains.