Topic: Financial crime investigations

Swiss Libor manipulation suit settles

A long-standing class action against Deutsche Bank and NatWest over allegations of a conspiracy to fix Swiss franc Libor is set to conclude, as a New York federal court approves a settlement in a class action lawsuit revolving around LIBOR manipulation scandals.

06 July 2022

ASIC’s “why not litigate” era nears its end

Australia’s securities regulator has completed one of the final pieces of litigation to come out of the Royal Commission on misconduct.

09 February 2022

US Treasury will pilot sharing suspicious transaction data with foreign affiliates

The United States’ Financial Crimes Enforcement Network has called on banks to share data on suspicious financial activity with their foreign branches, something that industry players have so far welcomed.

27 January 2022

OCC warns of “absurd results” in review of ex-CEO fine

The OCC has argued an ex-bank CEO’s attempts to compel review of his six-year-old consent order, following a 2018 Supreme Court ruling on the SEC’s use of administrative law judges, would cause “chaos” in the United States’ administrative order if allowed.

03 November 2021

“Real impact”: US Fed watchdog confirms trading probe

The United States Federal Reserve’s watchdog has commenced a probe into whether senior officials broke any laws by trading during the pandemic, as two senators call for separate SEC and Congressional investigations into whether the central bank’s vice chair engaged in insider trading.

06 October 2021

Binance hires California’s top regulator, as FinCEN creates digital currency post

Crypto-asset exchange Binance has hired the former head of California’s financial regulator, while the US Treasury’s Financial Crimes Enforcement Network has created a new post to advise on digital currency issues.

08 July 2021

German regulator facing criminal investigation over Wirecard handling

The public prosecutor's office in Frankfurt am Main has launched a criminal investigation into the German banking regulator for its role in the Wirecard scandal.

19 April 2021

BaFin suspends Greensill operations in Germany

Germany’s financial regulator BaFin has frozen supply chain finance bank Greensill’s operations in the country and filed a criminal complaint, days after an Australian court rejected the parent company’s injunction demand to renew insurance coverage for its multi-billion dollar lending operation.

05 March 2021

BaFin president heads for exit following Wirecard scandal

Germany’s top financial regulatory official has agreed to step down in the aftermath of the Wirecard scandal, as the German government prepares to reorganise the country’s watchdog.

02 February 2021

ESMA slams “unaligned” German regulators over Wirecard scandal

As German financial regulator BaFin awaits a drastic overhaul of its supervisory powers, the European Securities and Markets Authority has criticised it and accounting watchdog FREP for their “unaligned” handling of the Wirecard accounting scandal.

05 November 2020

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