Topic: Compliance

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

The Hong Kong Monetary Authority has told banks they should report violations of the territory’s controversial National Security Law as they would anti-money laundering/counter-financing of terrorism violations.

22 October 2020

Reports released from the Financial Action Task Force and Hong Kong’s securities regulator have pointed to money laundering and terrorism financing “red flags” arising from the use of crypto asset exchanges.

28 September 2020

Latvia’s banking regulator has announced new anti-money laundering and counter-terrorism financing guidance, after fining local outfit Signet Bank €906,000 for AML failings.

26 August 2020

Mexico’s National Banking and Securities Commission (CNBV) has been “alarmingly” slow in responding to applications from new financial institutions and “lacks senior technocrats to answer the more complex questions”, as it takes heat over the collapse of domestic lender Banco Famsa.

21 August 2020

The European Banking Authority has released its final report on disclosure and reporting of the minimum requirement for own funds and eligible liabilities (MREL) and the total loss absorbency requirement (TLAC), marking the first time the regulator has developed rules for these areas.

07 August 2020

WhatsApp has received a boost in its quest to launch its payment platform in India after a Supreme Court affidavit filed last week revealed it has complied with data localisation rules, but the Indian central bank is yet to give it the go-ahead.

05 August 2020

The UK’s Financial Conduct Authority will require dual-regulated firms to “ensure and demonstrate” gender-neutral remuneration practices as part of CRD V compliance – while the Prudential Regulation Authority announces changes to its group buffer policies under the directive.

04 August 2020

The European Banking Authority has invited banks and regulators to chime in as it prepares to make recommendations on reducing the costs of complying with supervisory reporting obligations.

27 July 2020

Malta is considering giving its prudential and conduct regulator new supervisory and investigative anti-money laundering powers, as the ECB terminates a local bank’s licence over AML failings.

10 July 2020