All Finance articles – Page 5
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PremiumOverabundance of U.K. AML regulators stretching enforcement resources thin, experts say
The U.K. will struggle to shed its reputation as one of the world’s biggest conduits for dirty money due to a combination of patchy intelligence-sharing and poorly resourced enforcement agencies, experts told Compliance Week.
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PremiumCompliance’s fit in AI governance: Reading between lines of DOJ’s updated ECCP guidance
The Department of Justice’s Evaluation of Corporate Compliance Programs has made the importance of artificial intelligence governance frameworks clear, but it didn’t say what role compliance should play. Here’s the answer.
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Blog
R.J. O’Brien names global CCO
R.J. O’Brien & Associates, an independent futures brokerage and clearing firm, announced the appointment of John Robbins to the new role of global chief compliance officer.
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News BriefSEC fines Morgan Stanley $15M to settle allegations of theft of client funds
A lack of supervision and internal controls at Morgan Stanley Smith Barney allowed four of its investment advisers to steal millions from customers before the behavior was detected, the SEC said in charging the firm.
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PremiumTexas court halts FinCEN beneficial ownership reporting requirements
Business owners can stop preparing their 2025 anti-money laundering reports for the Treasury Department’s Financial Crimes Enforcement Network, according to a Texas court, which ruled the Corporate Transparency Act requirement unconstitutional.
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PremiumWhistleblower’s defamation case reveals scope of USAA ‘coverup’
A defamation lawsuit filed by a whistleblower against USAA, which a Florida judge recently dismissed on a technicality, revealed in public court records an estimated 400,000 violations of the Military Lending Act by USAA Federal Savings Bank (USAA Bank), an indirect wholly owned subsidiary of USAA.
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Alerus Financial Corporation names risk chief
Alerus Financial Corporation announced that Joe Birkholz has joined the company as chief risk officer.
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FactSet appoints legal chief
Global financial digital platform FactSet announced the appointment of Christopher McLoughlin as executive vice president, chief legal officer.
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The Westaim Corporation appoints CRO
The Westaim Corporation announced that Matthew Skurbe will be appointed chief financial officer and chief risk officer.
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PremiumEvolving sanctions rules make continuous screening, due diligence essential in 2025
The EU and U.K. have rushed to commit themselves to intensifying action on sanctions evasion after U.S. President-elect Donald Trump’s victory, but any compliance managers who believe Trump will make global sanctions compliance easier in 2025 are likely to be disappointed.
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MUFG names risk chief for securities business
Financial group MUFG announced that Charles Green, Jr., will assume the role of chief risk officer for MUFG Securities Americas, head of market risk Americas, MUS(CAN), and International CRO for MUSI, effective Feb 1.
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PremiumProposed CFPB rule would attempt to rein in data broker buying, selling
Data brokers have been getting away with selling Americans’ personal and financial data without adequate protections, an illegal practice that a new rule proposed by the Consumer Financial Protection Bureau will intend to stop, CFPB Director Rohit Chopra said.
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News BriefU.S. Appeals Court ruling in Tornado Cash case opens door for AML regulatory unwind
In striking down penalties against cryptocurrency mixer Tornado Cash for violating U.S. sanctions, a federal appeals court may have started to chip away at anti-money laundering regulations established by Democrats even before President-elect Donald Trump takes office.
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Ally announces chief risk officer
Ally Financial announced that Stephanie Richard has been appointed chief risk officer.
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SAFCO welcomes risk chief
Southern Auto Finance Company welcomed Brian Hopper as its new senior vice president and chief risk officer.
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Perigon Wealth Management names GC, CCO
Perigon Wealth Management announced it has hired Jonathan Robbins as general counsel and chief compliance officer.
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HKEX announces group sustainability chief
Hong Kong Exchanges and Clearing Limited announced the appointment of Paul Chow as group chief sustainability officer, effective Jan. 1.
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Thunes appoints chief compliance officer
Cross-border payments network Thunes announced the appointment of Peter Cohen as its new chief compliance officer.
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PremiumCould your firm potentially be the subject of a DOJ whistleblower action? Time to get ready
Now that the U.S. Department of Justice launched a new pilot whistleblower program, many questions remain. What types of companies might find themselves to be the subject of a criminal investigation stemming from a whistleblower tip? And what should they do to prepare for a whistleblower tip?
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PremiumTop ethics and compliance failures of 2024
The biggest Compliance Fails of 2024 show the real-world consequences of noncompliance for the companies that faltered, but also for their customers and their employees.