Topic: Compliance

Danske warned over sanctions screening

Danish regulators have warned Danske Bank that failings in its AML procedures put it at risk of breaching sanctions, three years after the discovery of a record-breaking €200 billion money laundering operation flowing through the bank’s now-defunct Estonian branch.

24 November 2021

Ex-JPMorgan VP says she was fired for raising compliance concerns

An ex-JPMorgan compliance executive has complained of “material misconduct” in a lawsuit directed at her former employer which alleges gaps in the bank’s compliance controls.

15 November 2021

Fieldfisher hires from BNY Mellon; Ashurst appoints in Sydney

A Bank of New York Mellon managing counsel has joined Fieldfisher's London office, while Ashurst has continued the expansion of its finreg practice with a new partner hire in Sydney.

19 August 2021

ASIC brings in royal commission reforms

Six “game changer” reforms will go live at the start of October in response to the Hayne Royal Commission, Australia’s securities regulator has promised, including breach reporting requirements and changes to product design and distribution requirements.

13 August 2021

EBA seeks to centralise AML compliance norm-setting

The EBA has proposed new guidelines that lay out its expectations of firms’ anti-money laundering compliance officers, set to be the first of their kind and which it says will streamline compliance across the EU.

04 August 2021

SEC hints at forthcoming climate disclosure rules

SEC chair Gary Gensler has promised widely anticipated climate disclosure rule proposals will arrive this year and will move beyond the existing TCFD framework.

02 August 2021

“Persistent failure”: Paul Weiss report shows how Credit Suisse overlooked Archegos risks

Credit Suisse exercised a “persistent failure” to manage and remediate identified risks associated with Archegos Capital before its eventual collapse, according to an independent external investigation conducted by Paul Weiss.

29 July 2021

National authorities must cooperate more, say EBA standards

The European Banking Authority has finalised its standards for supervisory colleges to coordinate national regulators’ supervision of investment firms operating within multiple EU member states.

07 July 2021

Facebook’s Diem makes a leap for the US

Facebook-backed digital currency project Diem – formerly Libra – has withdrawn its payment system licence application in Switzerland, instead announcing a shift to the United States alongside a partnership with crypto-friendly bank Silvergate.

14 May 2021

Goldman Sachs to address risk management after US$2.9 billion 1MDB settlement

Goldman Sachs has been ordered to improve its risk management and oversight procedures after settling with 10 regulators in five jurisdictions over an alleged multibillion-dollar bribery and embezzlement scheme with respect to Malaysian fund 1MDB.

29 October 2020

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