All Financial Services articles – Page 72
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Article
FTI Consulting expands financial services practice
FTI Consulting announced the expansion of its financial services practice within the Forensic and Litigation Consulting segment with the appointment of three professionals in New York.
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FINMA publishes AML guidance on blockchain
The Swiss Financial Market Supervisory Authority has published new guidance on how it applies AML rules to the financial services providers it supervises in the area of blockchain technology.
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Danske reported to police over investment mis-selling
Denmark’s financial regulator has filed a criminal complaint against Danske Bank over a mis-selling scandal that saw its former interim chief executive get fired in June this year.
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New FinCEN unit to focus on money laundering threats
FinCEN announced the launch of its newly created Global Investigations Division, with responsibility for targeting terrorist financing and money laundering threats, both domestically and internationally.
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Resource
e-Book: CECL: Don’t get left behind on FASB’s credit loss standard
The Financial Accounting Standards Board has approved delays for its credit loss standard, a.k.a. CECL, but companies—especially financial institutions—still have a long way to go.
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Deutsche Bank to pay $16M in FCPA case over hiring practices
Deutsche Bank has become the latest financial institution to pay a penalty for violations of the Foreign Corrupt Practices Act over questionable hiring practices, showcasing a litany of compliance failures.
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Cantor Fitzgerald, BMO Capital to pay $4.5M for mishandling ADRs
Brokers Cantor Fitzgerald and BMO Capital Markets will combine to pay more than $4.5 million to settle charges of improper handling of “pre-released” American Depositary Receipts.
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Fed wants real-time payments, settlements
The Federal Reserve is making an effort to develop a round-the-clock real-time payment and settlement service.
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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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Capital One announces massive data breach
Capital One Financial announced a hacker obtained the personal information of approximately 100 million individuals in the United States and approximately six million individuals in Canada.
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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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InvestEdge updates compliance monitoring system
InvestEdge, a provider of financial advisory solutions, announced the release of Compliance Middle Office Management as a new addition to its compliance monitoring system.
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FINRA issues clarifying guidance on ‘extraordinary cooperation’ credit
The Financial Industry Regulatory Authority has issued supplemental guidance clarifying how companies and individuals that demonstrate “extraordinary cooperation” in investigations can receive enforcement credit.
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Agencies exclude community banks from the Volcker Rule
Five federal financial regulatory agencies announced this week they have adopted a final rule to exclude community banks from the Volcker Rule.
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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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Hong Kong’s SFC bans former Goldman Sachs officer for life
Hong Kong’s Securities and Futures Commission has banned Tim Leissner, a former participating managing director at Goldman Sachs (Asia), from re-entering the industry in connection with his crimes relating to 1MDB.
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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.