New Mexico man admits laundering drug money through Bank of America
A New Mexico man on Tuesday pleaded guilty to drug trafficking and money laundering charges, admitting he conspired to sell cocaine, methamphetamine and marijuana in New Mexico between May 2011 and...
View ArticleChesapeake energy CEO steps down after tumult over trading, conflicts
Chesapeake Energy Corp said on Tuesday that Aubrey McClendon will step down as chief executive after a tumultuous year in which a series of Reuters investigations triggered civil and criminal probes of...
View ArticleU.S. probed media's handling of economic data - source
U.S. law enforcement authorities conducted an investigation into whether media companies facilitated insider trading by prematurely releasing market-sensitive government data, but decided not to bring...
View ArticleTwo U.S. senators turn up heat on prosecutors' bank settlements
Two U.S. senators on Tuesday questioned whether the Justice Department has been aggressive enough in prosecuting misconduct at the largest banks and asked the department to turn over information on how...
View ArticleU.S. official to head global group on finance ID tag
A U.S. official will head a worldwide group tasked with launching a unique identifier for banks and other financial operators, to give regulators a better view of their exposure and prevent the next...
View ArticleRisk oversight a big focus of new governance guidelines from Canadian bank...
Canadian bank regulators this week issued new corporate governance guidelines (PDF) for banks and insurance companies. The most significant changes relate to board effectiveness, composition and...
View ArticleJPMorgan bet against itself in 'Whale' trade
There is a new twist in the London Whale trading scandal that cost JPMorgan Chase $6.2 billion in trading losses last year. Some of the firm's own traders bet against the very derivatives positions...
View ArticleOCC chief outlines exam themes for banks and thrifts
The U.S. Office of the Comptroller of the Currency will be focusing on excessive risk taking, the concentration of commercial real estate loans, and the types of assets that banks bring onto their...
View ArticleHSBC hires U.S. expert on drug cartels to head new board "vulnerabilities...
HSBC is hiring a former U.S. deputy attorney general with a background in fighting drug cartels to help the global bank avoid a repeat of lapses in its anti-money-laundering controls that led to a $1.9...
View ArticleBritish Columbia Securities Commission alleges $135 million Ponzi scheme
The British Columbia Securities Commission (BCSC) has accused a Canadian woman residing in Washington State of operating a Ponzi scheme that raised $135.4 million from at least 800 investors in Canada...
View ArticleIran bank to sue EU after winning sanction list case
Iran's Bank Mellat plans to sue European Union governments for damages after a European court ruled to annul sanctions against the company, lawyers said on Wednesday. Europe's General Court said on...
View ArticleProminent New York prosecutor of insider cases enters private practice
Reed Brodsky, the former prosecutor who led the insider trading prosecution of former Goldman Sachs director Rajat Gupta, is leaving the Manhattan U.S. Attorney's office to join law firm Gibson, Dunn...
View ArticleSarbanes-Oxley coauthor urges compliance pros to raise the bar on market...
The Sarbanes-Oxley Act of 2002 imposed expensive compliance costs in the wake of its passage, but the law and the 2010 Dodd-Frank reforms have both provided the tools to improve investor confidence...
View ArticleBankers at Davos discussed global Libor settlement, Deutsche Bank CEO says
Deutsche Bank co-Chief Executive Anshu Jain said bankers gathered at the World Economic Forum in Davos informally discussed whether to team up about settling a global probe in to alleged rigging of...
View ArticleTwo British Columbia company directors fined, banned for illegal securities...
A British Columbia Securities Commission (BCSC) disciplinary panel has fined and permanently banned two directors of a B.C. company for selling securities without being registered. Between July 2006...
View ArticleEU's Barnier says U.S. should respect Basel III
The United States should implement Basel III bank capital rules in the same way as Europe does, at the beginning of 2014, the European Union official in charge of regulation said. "It is essential that...
View ArticleOntario Securities Commission accuses two of illegal trading, fraud
The Ontario Securities Commission (OSC) has accused two men of illegal trading and fraud. Steven Zetchus and Justin Kreller misrepresented themselves as registered securities traders and through other...
View ArticleU.S. Justice Dept's criminal division chief to step down, leave mixed legacy...
The head of the U.S. Justice Department's criminal division, who has shouldered much of the blame for bringing few cases related to the financial crisis, but who also led the unit to record...
View ArticleADVISORY: More stories from today on Compliance Complete home page
Today's Compliance Complete email bulletins have been unable to display the full selection of news and analysis. Readers can, however, see the complete news of the day on our home page. Please click...
View ArticleU.S. bank examiners to keep close eye on consumer issues, collaborate with...
Bank examiners must give consumer compliance matters the same close scrutiny as trading books and credit portfolios, the head of the U.S. Office of Comptroller of the Currency told regulatory consumer...
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