All articles by Jaclyn Jaeger – Page 68
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Blog
Swiss regulator publishes ICO guidelines
The Swiss Financial Market Supervisory Authority, FINMA, has published guidelines setting out how it intends to apply financial market legislation in handling enquiries from initial coin offering organisers. The guidelines also define the information FINMA requires to deal with such enquiries and the principles upon which it will base its ...
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Blog
U.K. and U.S. to collaborate on FinTech initiatives
The U.K. Financial Conduct Authority and the U.S. Commodity Futures Trading Commission have signed a first-of-its-kind arrangement with one another to collaborate and support innovative firms through each other’s FinTech initiatives.
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Blog
U.S. Bancorp to pay $613M for AML compliance failures
U.S. Bancorp, the parent company of U.S. Bank, announced today that it will pay a total of $613 million in total penalties for willfully failing to have an adequate anti-money laundering compliance program and willfully failing to file a suspicious activity report in violation of the Bank Secrecy Act.
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Blog
Credit Suisse discloses FCPA investigation
Credit Suisse Group said it has been responding to requests from “certain governmental and regulatory authorities” concerning potential violation of the FCPA regarding its hiring practices in the Asia Pacific region.
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Blog
Singapore proposes e-payment standards for financial institutions
The Monetary Authority of Singapore has launched a public consultation on proposed guidelines to protect users of electronic payments, which would set standards on the responsibilities of financial institutions.
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Article
China amends, clarifies law addressing commercial bribery
For the first time in two decades, Chinese regulators have amended the Anti-Unfair Competition Law, giving companies more clarity on what constitutes commercial bribery.
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Blog
European Parliament to send fact-finding mission to Amsterdam
The European Parliament’s president and political group leaders have decided to send a fact-finding mission to Amsterdam, where the European Medicines Agency is to be relocated after Brexit.
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Article
Keeping your harassment policies fresh and inspiring
In any industry, having policies and procedures that address sexual harassment is a good start, but more telling will be how the code is enforced in the weeks and months to come.
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Blog
SFO: More charges in Barclays Qatar capital raising case
The U.K. Serious Fraud Office has charged Barclays Bank with unlawful financial assistance contrary to the Companies Act in connection with an investigation it began in 2012.
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Blog
Airbus to pay €81.25 million to end German corruption probe
German prosecutors have ordered Airbus to pay a fine of € 81.25 million to end a five-year bribery investigation concerning the sale of Eurofighter aircraft to the Republic of Austria in 2003.
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Blog
Novartis responds to ongoing corruption investigations
Novartis has issued a response concerning ongoing corruption investigations by both Greek and U.S. authorities.
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Blog
Rabobank to pay $368.7M for laundering Mexico drug money
The U.S. subsidiary of Rabobank pleaded guilty this week to a felony conspiracy charge for impairing, impeding, and obstructing a government investigation by concealing deficiencies in its anti-money laundering program.
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Blog
GlaxoSmithKline: An update on SFO investigation
GlaxoSmithKline isn’t out of the weeds yet. The pharmaceutical company this week said the U.K. Serious Fraud Office has requested new information relating to an ongoing investigation, this time concerning third-party advisers engaged by the company.
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Article
Lax AML controls plague Mexico's financial services sector
Politically exposed persons, beneficial ownership, and suspicious transactions all continue to bedevil Mexican banking efforts to combat money laundering and terrorism financing.
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Blog
Petrofac board: An update on SFO investigation
The board of directors of oilfield services provider Petrofac this week provided an update on the U.K. Serious Fraud Office's investigation into the company.
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Blog
EU sanctions three South Sudan officials
The European Council has added three persons involved in serious human rights violations to the list of those submitted to a travel ban and an asset freeze in view of the situation in South Sudan.
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Article
Preventing sexual misconduct at work starts with culture
Allegations of sexual misconduct that have surfaced in recent months underscore how important it is to reevaluate how to address sexual harassment in the workplace.
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Blog
EU-Norway sign agreement, strengthening VAT fraud prevention
The European Union and Norway this week signed an agreement that will provide EU member states and Norway with a legal framework for administrative cooperation in preventing VAT fraud and assisting each other in the recovery of VAT claims.
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Blog
EU auditors to examine food safety policy
The European Court of Auditors is conducting an audit of EU food safety policy, the focus of which will be on the control system for chemical hazards, poisonous substances that occur naturally or are added during food production or handling.
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Blog
Swiss regulator sanctions Gazprombank in wake of Panama Papers
Following revelations from the Panama Papers, Swiss regulators identified serious shortcomings in anti-money laundering processes regarding private clients at Gazprombank Switzerland and, thus, has banned it from accepting new private clients until further notice.