All Finance articles – Page 60
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ArticleIn time of crisis, Wirecard has turned to its would-be CCO to lead
Reeling from a $2 billion accounting scandal, Wirecard has turned to its would-be chief compliance officer as its interim CEO. It’s the first smart move the company has made in a while, writes Martin Woods.
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Supreme Court: CFPB single-director structure unconstitutional
The U.S. Supreme Court ruled the CFPB’s single-director structure violates the separation of powers between the executive and legislative branches and is unconstitutional.
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ArticleTelegram to pay back investors $1.2B for failed ICO
Telegram Group will return more than $1.2 billion in ill-gotten gains to investors and pay an $18.5 million civil penalty to resolve SEC charges that its unregistered offering of digital tokens violated federal securities laws.
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ArticleFRC to probe EY, PwC audits of London Capital & Finance
The U.K. Financial Reporting Council has commenced three investigations into the audits of collapsed investment firm London Capital & Finance, including audits carried out by Big Four firms EY and PwC.
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ArticleLessons from Wirecard: Ignore unchallenged allegations at your peril
When a company does not rebut serious allegations of wrongdoing with litigation, the only response is to demand answers from the firm or take your business elsewhere, writes financial crime expert Martin Woods.
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Horace Mann appoints chief risk officer
Insurance firm Horace Mann has appointed Paul Haley as chief risk officer.
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ArticleCFPB launches pilot advisory opinion program
The Consumer Financial Protection Bureau has launched a pilot advisory opinion program that allows companies seeking to comply with its regulations to submit questions on areas of uncertainty.
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ArticleFrom financial crisis to coronavirus: Shifting compliance trends in financial services
Keeping up with regulatory change; budget and resource allocation; and data protection issues were cited as the top three compliance challenges in the financial services industry, according to a recent study.
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ArticleU.S. regulators boast coordination in addressing coronavirus fraud
Testimony provided by several agencies before a U.S. Senate Judiciary Committee hearing offers valuable insights for chief compliance and risk officers regarding where coronavirus fraud threats may lurk, especially in the financial services and healthcare sectors.
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Libra Association appoints chief compliance officer
The Libra Association continued its string of key executive hirings with the appointment of Sterling Daines as chief compliance officer.
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ArticleReport: AI tools carry many benefits, some risks for securities industry
A study on the use of artificial intelligence in the securities industry by FINRA found a number of challenges with the technology—data bias, customer privacy, and cyber-security among them—but noted it can offer “significant benefits.”
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ArticleMerrill Lynch to pay $7.2M to customers overcharged for mutual funds
Merrill Lynch will pay more than $7.2 million in restitution and interest to customers who incurred unnecessary sales charges and paid excess fees in connection with mutual fund transactions, FINRA announced.
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Crypto.com appoints chief compliance officer
Crypto.com, a cryptocurrency platform, announced the appointment of Antonio Alvarez as chief compliance officer.
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CNO Financial tabs chief risk officer
Financial services holding firm CNO Financial Group announced the appointment of Karen DeToro as chief risk officer, in addition to her current duties as chief actuary.
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GCM Grosvenor adds chief risk officer
GCM Grosvenor, one of the world’s largest independent alternative asset management firms, announced the appointment of Amy Wierenga as chief risk officer..
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ArticleUSBI to pay $16M for breaches of fiduciary duty
U.S. Bancorp Investments, a dually registered investment adviser and broker-dealer, has agreed to pay $16 million to settle SEC charges for breaches of fiduciary duty arising out of its mutual fund share-class selection practices.
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Contis tabs general counsel, risk chief
FinTech payments services firm Contis announced the appointment of Lara Oyesanya as its first general counsel and chief risk officer.
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ArticleFinCEN advisory details coronavirus risks for financial industry
The Financial Crimes Enforcement Network has issued what it says is the first of several advisories concerning financial crimes related to the COVID-19 pandemic.
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ArticleAres Management to pay $1M for compliance failures
Ares Management will pay a $1 million civil penalty to resolve charges by the SEC that it failed to implement and enforce policies and procedures reasonably designed to prevent the misuse of material nonpublic information.
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Libra adds former FinCEN head as general counsel
Fledgling digital currency group the Libra Association announced the appointment of former FinCEN and OFAC Director Robert Werner as general counsel.