All Finance articles – Page 37
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News BriefEY Germany receives two-year ban over Wirecard audit work
Big Four audit firm EY will be prohibited from taking on new public interest clients in Germany for two years following an investigation into its work at collapsed payment processor Wirecard.
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News BriefUphold HQ fined $72K in OFAC sanctions case
Uphold HQ will pay $72,230 to settle charges levied by the Office of Foreign Assets Control that it processed sanctioned transactions for persons in Iran and Cuba and government employees in Venezuela.
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News BriefOCC establishes Office of Financial Technology to keep pace with fintechs
The Office of the Comptroller of the Currency established its Office of Financial Technology to supervise the fintech industry as it grows at a “rapid pace.”
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News Brief
SEC warns newly registered advisers of overburdening CCOs
Investment advisers newly registering with the SEC have been observed not devoting sufficient resources to their chief compliance officers, sometimes ladling additional responsibilities on the role that take away from time to focus on compliance.
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Blog
DailyPay appoints chief legal, strategy officer
Financial technology company DailyPay announced the appointment of Jared DeMatteis as chief legal and strategy officer.
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News BriefReport alleges Block’s Cash App facilitates fraud, disregards AML laws
Investment research firm Hindenburg Research accused financial technology payment company Block of facilitating money laundering, fraud, and scams on its platform.
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Blog
Angeles Wealth Management appoints chief compliance officer
Angeles Wealth Management announced the appointment of Edward Lowndes as chief operating officer and chief compliance officer.
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Blog
Apollo units name successor chief compliance officer
Apollo Global Management announced the promotion of Ryan Del Giudice to chief compliance officer for certain of its subsidiaries.
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News BriefCFPB eyeing data broker practices in planned rulemaking push
The Consumer Financial Protection Bureau is asking companies that “track and collect information on people’s personal lives” to provide information to the agency as it considers rulemaking under the Fair Credit Reporting Act.
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PremiumTRACE enforcement report highlights anti-bribery trends from 2022
The United States broke from a three-year downturn in bribery-related enforcement actions, while Brazil continued its emergence in the space, according to the results of the latest annual Global Enforcement Report by nonprofit TRACE.
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News Brief
SEC proposes Reg S-P updates on incident response, breach notifications
The Securities and Exchange Commission proposed amendments to its regulation requiring broker-dealers, investment companies, and registered investment advisers to establish policies and procedures to safeguard customer records and information.
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News BriefInvestment adviser fined $50K for compliance lapses following founder/CCO’s death
E. Magnus Oppenheim & Co. must pay $50,000 and hire an independent compliance consultant to settle Securities and Exchange Commission charges of failing to implement compliance policies and procedures following the death of its founder and CCO.
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News Brief
Five more board members resign in DOJ antitrust sweep
Five corporate board members resigned after being flagged by the Department of Justice for potentially violating the antitrust provisions of the Clayton Act.
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News BriefWebull fined $3M for failing to properly supervise automated trading system
The Financial Industry Regulatory Authority fined broker-dealer Webull Financial $3 million for alleged failures related to customer due diligence and processing and reporting of customer complaints.
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News BriefEnergy broker Coquest fined by CFTC in block trade manipulation case
Energy broker Coquest, its owners, and trading affiliates agreed to pay a total of nearly $3 million to resolve allegations from the Commodity Futures Trading Commission the firm failed in its oversight responsibilities regarding more than 2,000 trades made against its customers.
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Blog
New York Life promotes corporate compliance VP to CCO
New York Life announced the promotion of Senior Vice President of Corporate Compliance Sandi Tillotson to chief compliance officer.
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Blog
Mr. Cooper Group appoints chief risk and compliance officer
Home loan servicer Mr. Cooper Group announced the appointment of Christine Paxton as executive vice president and chief risk and compliance officer.
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News BriefSEC fines broker-dealer $100K over SARs reporting failures
Cambria Capital agreed to pay $100,000, hire an independent anti-money laundering consultant, and be censured for failing to file suspicious activity reports on certain transactions over a two-year period, according to the Securities and Exchange Commission.
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Blog
Kinetic Investment Management appoints chief compliance officer
Kinetic Investment Management announced the appointment of Dawn Rybak as chief compliance officer.
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PremiumAnti-ESG fervor catching fire with Republican lawmakers
The blowback against environmental, social, and governance initiatives in investments and corporate strategies is quickly building momentum in conservative politics, with nearly two dozen states proposing bills that limit ESG investments.