All Finance articles – Page 52
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CFTC files charges over fraudulent binary options trading scheme
The CFTC is pursuing enforcement against five entities and four individuals for engaging in a fraudulent scheme to solicit global customers for the purported purpose of trading illegal, off-exchange binary options.
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Swiss bank ignores compliance officer; pays $10.7M for tax evasion
A Swiss-based private bank reached a $10.7 million settlement and entered into a non-prosecution agreement with the U.S. Department of Justice for committing tax evasion after recommendations made by its compliance officer went ignored.
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FDIC details credit and market risks
The Federal Deposit Insurance Corporation this week published its 2019 Risk Review, an annual publication highlighting emerging risks and exposures that could affect the banking system in the months ahead.
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CFPB pitches mortgage rule change
The Consumer Financial Protection Bureau has issued a notice seeking information on the expiration of temporary qualified mortgage provisions.
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Blockchain: The new frontier for supply chain risk management
A new pilot project currently being explored by the U.S. Food and Drug Administration has enlisted IBM, KPMG, Merck, and Walmart to help determine how to incorporate blockchain into pharmaceutical supply chains.
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SEC: Transition from LIBOR has taken on ‘urgency’
Regulators are starting to freak out a little over what will happen in U.S. financial markets in 2021 when a major benchmark interest rate is expected to vanish.
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Celsius Network names new chief compliance officer
Celsius Network, a London-based cryptocurrency platform, has appointed Jeremie Beaudry as chief compliance officer.
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Congress, Treasury take swings at Facebook’s Libra plan
A plan by Facebook to enter the world of virtual currency is attracting predictable skepticism in Washington. It could also expedite the slow emergence of national data protection laws.
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Prometheum developing SEC-compliant cryptocurrency listing
Blockchain platform Prometheum announced the development of an SEC-compliant infrastructure on which companies can list their securitized cryptocurrency tokens.
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Bitstamp hires U.S. chief compliance officer
Global cryptocurrency exchange Bitstamp announced the appointment of Caitlin Barnett as U.S. chief compliance officer.
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Florida man sentenced for role in collapse of Puerto Rico bank
The CEO of a now-bankrupt pharmaceutical company was sentenced to 30 years in prison for his role in a $100 million plot that triggered Westernbank of Puerto Rico’s collapse.
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FDIC report: Five common consumer compliance issues
The FDIC recently issued the first edition of its “Consumer Compliance Supervisory Highlights” report, intended to enhance transparency around consumer compliance supervisory activities.
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Study: Financial firms don’t know what they don’t know on climate risks
Financial institutions still struggle with how to manage risks posed by climate change, according to a new report.
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CECL in summer: Get ready for models, data, auditors
It may be summertime, but the living is not so easy for corporate finance staff preparing for CECL—a major change to the reporting of credit losses.
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State Street to pay $88.8M for mutual fund overcharges
State Street will pay $88.8 million to resolve charges with the SEC that it overcharged mutual funds and other registered investment company clients for expenses related to the firm’s custody of client assets.
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SteelEye adds SM&CR capabilities to data platform
SteelEye announced the addition of Senior Manager & Certification Regime (SM&CR) capabilities within its compliance technology and data analytics platform.
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FCA fines BOS over failure to report fraud suspicions
Bank of Scotland (BOS) has been slammed with a £45.5 million (U.S. $57.8 million) fine by the Financial Conduct Authority for failing to inform authorities of its suspicions that a BOS turnaround unit was committing fraud.
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CNO Financial names chief risk officer
CNO Financial Group has named Tim Bischof as chief risk officer, effective immediately.
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Congress shows new resolve to combat shell companies
The United States seems poised to finally tackle issues surrounding shell companies and their often-opaque beneficial ownership structures.
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Reps continue push for big bank diversity data
Members of the House Financial Services Committee have sent letters to 37 bank holding companies requesting their diversity and inclusion data.