All Finance articles – Page 6
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Blog
Bitget welcomes new legal chief
Cryptocurrency exchange and Web3 company Bitget announced the appointment of Hon Ng as its chief legal officer.
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NN Group names new CRO
International financial services company NN Group announced that Wilbert Ouburg will be appointed chief risk officer and member of the management board, effective Oct. 1.
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Equity Trustees names risk chief
Equity Trustees announced the appointment of Nevein Versace as chief risk officer, effective Sep. 23.
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Clarivate names chief administrative, legal officer
Clarivate appointed Melanie Margolin to the expanded role of chief administrative and legal officer.
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Vanguard announces general counsel
Investment management firm Vanguard announced that Tonya Robinson will join as general counsel and managing director of its legal division, effective Oct. 1.
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Kinderhook Industries hires GC, compliance chief
Private investment firm Kinderhook Industries announced that Michael Iuliano has joined the firm as general counsel and chief compliance officer.
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News BriefPham cries CFTC overreach against compliance officer in $48M fine of TOTSA
The Commodities Futures Trading Commission fined TOTSA TotalEnergies Trading $48 million for allegedly engaging in price manipulation, with Commissioner Carolyn Pham defending a compliance officer at the Swiss energy company accused of making false statements.
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News BriefCFTC orders BNY to pay $5M over reporting failures
BNY, formerly BNY Mellon, will pay a $5 million fine to the Commodity Futures Trading Commission for “significant reporting failures” related to its swap dealer business.
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News BriefNordea Bank to pay $35M to resolve NYDFS probe into AML shortcomings
Finland-based Nordea Bank will pay $35 million to resolve an investigation by the New York Department of Financial Services into “significant compliance failures” in its anti-money laundering and Bank Secrecy Act program.
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News BriefSEC fines Sound Point Capital $1.8M over policy failures
Investment adviser Sound Point Capital Management will pay a $1.8 million fine to the Securities and Exchange Commission for failing to have written compliance procedures on handling material nonpublic information.
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News BriefTwo pairs of whistleblowers claim separate SEC awards totaling $122M
Two pairs of claimants will receive whistleblower awards totaling more than $98 million and $24 million, respectively, for information they provided to the Securities and Exchange Commission that led to an enforcement action.
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News BriefTD Bank discloses liabilities over AML probes in U.S. balloon to $2.6B
TD Bank has set aside $2.6 billion to settle allegations made by U.S. regulators that deficiencies in its anti-money laundering program allowed fentanyl traffickers to launder money on its platform.
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News BriefBanks avoid penalties in OCC deals, agree to shore up AML/BSA, board oversight
Among the enforcement actions issued by the Treasury Department’s Office of the Comptroller of the Currency in August, two banks were separately penalized for deficiencies in anti-money laundering and Bank Secrecy Act compliance and board oversight.
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News BriefFINRA orders Cantor Fitzgerald to pay $151K over supervision lapses
Cantor Fitzgerald agreed to pay more than $151,000 and be censured as part of a settlement with the Financial Industry Regulatory Authority over alleged supervisory failures in respect to over-the-counter securities.
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News BriefAmerican Portfolios agrees to $225K settlement with FINRA over AML failings
Broker-dealer American Portfolios will pay a $225,000 fine to the Financial Industry Regulatory Authority (FINRA) over alleged deficiencies in its anti-money laundering program.
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PremiumHow are you keeping up? The adoption of AI in compliance
Artificial intelligence is rapidly transforming the business landscape, and this is especially true for anyone working in compliance. But while AI offers immense potential to streamline processes, enhance decision-making, and mitigate risks, it also introduces a new set of challenges that compliance professionals must navigate.
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News BriefSEC orders Equiniti to pay $850K over alleged lax cybersecurity
Equiniti Trust Company has agreed to pay $850,000 to the Securities and Exchange Commission to settle allegations that its failed security measures allowed millions in client funds to be stolen in two cyber incidents.
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PremiumQ&A: APCC chair on culture challenges facing financial services firms
Julie Ampadu, chair of the U.K.’s Association of Professional Compliance Consultants, spoke to Compliance Week about why culture is the biggest issue facing financial services firms.
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News BriefFCA fines PwC $19.5M for failing to report fraud at London Capital & Finance
PricewaterhouseCoopers agreed to pay 15 million pounds (U.S. $19.5 million) for failing to report suspicions of fraud taking place at investment firm London Capital & Finance before it collapsed, the Financial Conduct Authority announced.
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Premium’Bait-and-switch’: Pham critical of CFTC self-reporting policy
Caroline Pham, a commissioner on the Commodity Futures Trading Commission, criticized the agency’s policy on credit for self-reporting violations as a “bait-and-switch.”