All Financial Services articles – Page 66
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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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Five ‘essential components’ of a sanctions compliance program
Chief compliance officers got some much-needed guidance on how to build a well-crafted sanctions compliance program thanks to the recent OFAC framework.
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Genstar Capital names chief compliance officer
Genstar Capital, a private equity firm, has appointed Carolyn Greenwalt as chief compliance officer.
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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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UBS compliance officer convicted of insider trading
A London Southwark Crown Court jury on June 27 convicted two individuals—a senior compliance officer of UBS and a day trader of financial securities—and sentenced them to three years’ imprisonment for insider trading.
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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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Wedbush to pay more than $8.1M for improper handling of ADRs
Wedbush Securities will pay more than $8.1 million to settle charges for the improper handling of “pre-released” American Depositary Receipts.
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Compliance.ai upgrades RCM solution
Compliance.ai announced the availability of new features to its Modern Regulatory Change Management solution.
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ICBC to pay more than $42M for improper handling of ADRs
Industrial and Commercial Bank of China Financial Services will pay more than $42 million to settle charges with both the Securities and Exchange Commission and the Department of Justice for the improper handling of “pre-released” American Depositary Receipts.
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FCA publishes final report on RBS
The Financial Conduct Authority has concluded its investigation into the Royal Bank of Scotland and published a final report of its findings.
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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.
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Report says more companies address climate change, struggle with disclosures
A task force on climate-related financial disclosures found “encouraging progress” in its latest report, though there’s still work to be done when considering financial risks.
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New bill sits on Senate agenda to block, study CECL
A new bill intended to block CECL is awaiting action in the Senate Banking Committee, much to the delight of big banks.
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U.S., U.K. launch Financial Innovation Partnership
A newly formalized partnership between the United States and United Kingdom aims to embolden innovation in financial services.
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FSB continues push for Legal Entity Identifiers
The United States is among the laggards when it comes to international identifying codes for financial entities.
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FinCEN to financial institutions: Beware of Venezuelan money laundering
FinCEN recently alerted financial institutions of continued widespread public corruption in Venezuela and the methods Venezuelan senior political figures and their associates may use to move and hide proceeds of their corruption.
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Inside Wells Fargo’s plan to restore trust
Compliance Week looks at highlights from Wells Fargo’s plan to transform the future.
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CFPB to provide more information to firms under investigation
The Consumer Financial Protection Bureau says it will provide financial services firms under investigation more detail on what violations prompted the agency’s scrutiny.
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FCA data shows firms with most consumer credit complaints
The U.K. Financial Conduct Authority published its latest complaints figures for regulated firms for the second half of 2018, revealing how some financial services firms are receiving significantly more complaints than others.