- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2023-12-29T16:04:00
The Monetary Authority of Singapore (MAS) imposed a 3.9 million Singapore dollars (U.S. $3 million) penalty on Credit Suisse for failing to detect misconduct by relationship managers at its Singapore branch.
The fine, announced Thursday, was levied after the MAS found Credit Suisse relationship managers provided false or incorrect information, or omitted key information, to private banking clients in post-trade disclosures affecting 39 over-the-counter bond transactions. The misconduct was discovered during an MAS review of pricing and disclosure practices in the private banking industry.
Credit Suisse admitted liability as part of the settlement and paid the fine, the MAS said.
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2023-11-27T19:38:00Z By Aaron Nicodemus
Risks posed by money laundering and the financing of terrorism have dramatically increased in Singapore, according to a recent survey of the city-state’s financial institutions conducted by the Monetary Authority of Singapore.
2023-11-06T17:26:00Z By Kyle Brasseur
The chief executive officer of DBS, Singapore’s largest bank, acknowledged exposure of about 100 million Singapore dollars (U.S. $74 million) related to the city-state’s money laundering scandal.
2023-10-20T16:28:00Z By Aaron Nicodemus
A Singapore financial regulator will reportedly conduct an on-site inspection of a local Credit Suisse unit in connection with a 2.8 billion Singapore dollar (U.S. $2 billion) money laundering scandal.
2025-03-27T13:11:00Z By Jeff Dale
The U.K. Financial Reporting Council issued penalties against PwC and a former auditor over deficiencies on work related to the 2019 financial statements of now shuttered Wyelands Bank.
2025-03-27T12:49:00Z By Aaron Nicodemus
Yet another government contractor has been slapped with a fine by the Department of Justice for applying lax cybersecurity defenses on sensitive government data.
2025-03-26T18:48:00Z By Oscar Gonzalez
The European Commission released its preliminary findings last week regarding Apple and Google not complying with the Digital Markets Act. It issued orders to both companies regarding their business practice and plans to release all of its findings next week.
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