- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jaclyn Jaeger2019-05-01T21:35:00
As Swedbank faces multiple investigations into money laundering practices, the bank’s acting president and CEO Anders Karlsson recently announced the formation of a new unit to combat financial crime.
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Swedbank announced the Swedish Financial Supervisory Authority has opened an investigation into the bank for potential violations of the regulation on market abuse in connection to the disclosure of suspected money laundering.
Swedbank CEO Jens Henriksson announced the financial institution is making some major organizational changes “to create simpler and clearer decision-making structures to facilitate the realization of the bank’s strategy.”
Faced with numerous AML investigations, Swedbank made several significant moves this week, including naming a permanent CCO and agreeing to waive attorney-client privilege by handing over an internal report to local prosecutors.
Elon Musk, the world’s wealthiest person and the apparent right-hand man of incoming U.S. president Donald Trump, has been taken to court for a third time by the Securities and Exchange Commission for allegedly violating securities law.
Twelve more firms have been dinged with fines by the Securities and Exchange Commission for failing to properly supervise employees who used off-channel communications to conduct company business. In this latest round of enforcement actions, nine investment advisers and three broker-dealers will pay a total of $63 million.
Capital One promised very high interest rates on millions of savings accounts but the bank didn’t deliver, losing customers more than $2 billion, the Consumer Financial Protection Bureau alleged.
