OFAC not out to 'get' firms for sanctions failures, says U.S. official
The U.S. Treasury is not out to 'get' financial services firms for sanctions failures and instead wants to work with compliance officers to ensure the regime works as effectively as possible, said a...
View ArticleGlobal regulators agree new capital yardstick for insurers
Global regulators have written the first global capital rule for insurers, marking a key milestone in efforts since the 2007-09 financial crisis to reinforce supervision of the sector. The aim is to...
View ArticleRajaratnam's brother reaches insider trading deal with U.S. SEC
Rengan Rajaratnam, who was cleared of criminal insider trading charges following the conviction of his older brother, Galleon Group founder Raj Rajaratnam, has agreed to pay more than $841,000 to...
View ArticleU.S. Fed lays out scenarios for 2015 bank stress tests
The U.S. Federal Reserve said on Thursday it would assume wider corporate bond spreads and a higher oil price in the most strenuous scenario it will use in next year's run of its annual check of banks'...
View ArticleOCC signals flexibility with leverage loan ratio
Limits on loans that regulated banks handle for companies with high amounts of junk-rated debt are not set in stone, an official from the Office of the Comptroller of the Currency said Thursday. A...
View ArticleU.S. regulators get guidance on improving trade execution disclosure
Three associations representing the U.S. financial services industry sent securities regulators on Thursday a template for improving the disclosure to institutional investors of how and where their...
View ArticleNew figures show casinos reporting more suspicious activity, pressure from...
With three months to go until year's end, the 33,701 Suspicious Activity Reports filed by casinos and card clubs in 2014 already exceeds the 27,505 filed during the entirety of last year by more than...
View ArticleWall Street watchdog, U.S. states mull new system to clean up brokers' records
Wall Street's industry-funded watchdog and U.S. state securities regulators are considering whether to develop a new type of regulatory process for brokers to follow for erasing complaints from their...
View ArticleCanada adopts gender diversity disclosure rules to advance the role of women...
Canadian securities regulators have implemented new disclosure requirements regarding the representation of women on corporate boards and in senior management. As of December 31, 2014, in time for the...
View ArticleU.S. government hopes Bank Secrecy Act reports will help disrupt finances of...
The U.S. government is counting on Bank Secrecy Act-mandated reports from financial institutions to help choke-off the flow of money to Islamic State militants, Treasury Undersecretary David Cohen said...
View ArticlePrivate sector to continue taking the lead on cyber security, experts - and...
The United States government may increasingly rely on the financial services industry to help strengthen the economy's defenses against cyber threats, a member of the House Committee on Homeland...
View ArticleQuants are the future for compliance, says SEC exams chief
Quants hired by Wall Street firms to write money-making algorithms are the future for compliance departments, Andrew Bowden, the head of the SEC's Office of Compliance Inspections and Examinations told...
View ArticleDeutsche Bank braces for 1 billion euros in U.S., UK Libor fines, say sources
Deutsche Bank is bracing to pay almost 1 billion euros ($1.3 billion) for Libor-related fines as it nears a deal with U.S. and UK authorities to settle allegations it attempted to manipulate the...
View ArticleDe-risking not an excuse to drop the risk-based approach, says FATF
De-risking should never be used as an excuse for banks not to implement properly a risk-based approach and could force customers into the shadowy world of unregulated money transfers, according to the...
View ArticleEx-Bank of New York Mellon trader pleads guilty to insider trading
A former Bank of New York Mellon Corp trader on Friday pleaded guilty to insider trading based on tips from a former Merck & Co Inc employee about potential pharmaceutical mergers. Federal...
View ArticleDTCC survey shows cyber crime fight requires global coordination
Financial services firms need to look beyond company-specific defence initiatives that address cyber risks in isolation and take a united approach to fighting cyber crime. The Depository Trust and...
View ArticleDeutsche Bank lawyer found dead by suicide in New York
A senior Deutsche Bank regulatory lawyer has been found dead in New York after committing suicide, New York City officials said on Saturday. Calogero Gambino, 41, was found on the morning of Oct. 20 at...
View ArticleECB fails 25 banks in health check but problems largely solved
Roughly one in five of the euro zone's top lenders failed landmark health checks at the end of last year but most have since repaired their finances, the European Central Bank said on Sunday. Painting...
View ArticleCanada's financial intelligence agency gets 'useful' data from firms after...
Canada's financial intelligence agency asked institutions to quickly report suspicious transactions in the wake of two deadly attacks this week and has received data "useful to our intelligence...
View ArticleEx-fund manager who aided U.S. insider-trading probes is spared prison sentence
A former portfolio manager who became a key cooperator in a broad U.S. government crackdown on insider trading avoided prison on Friday at her sentencing in New York federal court. Reema Shah, 42,...
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