Compliance

  • FRANKFURT, Sept 23- Deutsche Bank is going for long-term solutions rather than quick fixes in setting up its new compliance team to ensure the bank can put behind it the problems that have cost it billions of euros in fines, the bank's regulatory boss said. Germany's biggest bank is also fighting a $14 billion demand from the U.S. Department of Justice to settle a...

  • SHANGHAI, Aug 30- Chinese private investment funds will conduct a "self-inspection" of their business practices in compliance with a directive from the State Council, China's cabinet, according to a notice posted on the website of the Asset Management Association of China. The inspection initiative follows a finding by China's securities regulator that some...

  • July 21- Blood-testing company Theranos Inc said on Thursday it hired two executives to oversee regulatory, quality and compliance standards, as the company tries to recover from a series of regulatory sanctions and investigations. Theranos, once valued at $9 billion, was founded by Elizabeth Holmes in 2003 to develop a blood testing device that would deliver...

  • July 21- Theranos Inc hired two executives to oversee regulatory, quality and compliance standards, in a bid to turn around the struggling blood-testing company after it received sanctions from U.S. regulators. He will work on getting FDA clearances and approvals, marketing new products, and look into medical-device quality systems. The company, once valued at...

  • NEW YORK, June 22- Financial institutions that settled misconduct charges with New York State's financial regulator have committed new improper behavior and "serious compliance failures," the agency's head said on Wednesday. Monitors keeping tabs on the institutions discovered intentional misconduct, including improper foreign exchange trading...

  • NEW YORK, June 22- Monitors who are keeping tabs on financial institutions that settled misconduct charges with New York State's financial regulator have uncovered "serious compliance failures" and new improper behavior, the agency's head said on Wednesday. Monitors have discovered intentional misconduct, including improper foreign exchange trading...

  • HONG KONG/ SINGAPORE, June 17- A crackdown on money laundering by Asia's main private banking centers is forcing wealth managers to spend more on compliance procedures and may prove too onerous for smaller players, industry executives said. Regulators in Singapore and Hong Kong, Asia's biggest offshore wealth markets, have stepped up scrutiny of their wealth...

  • The justices opted not to hear the states' appeal of a December U.S. appeals court decision allowing the mercury rules to remain intact while the administration responded to last year's Supreme Court ruling that the government should have considered the compliance costs when crafting the regulations. Monday's action marked the second time this year the...

  • *Banks subject to probes in Europe, ordered to improve in U.S. BEIJING, June 1- China's biggest banks are beefing up their risk management and compliance programmes, following a series of high-profile judicial investigations and regulatory probes in the United States and Europe. "They're going to have to come up to standards if they're going to have branches in...

  • May 24- Wells Fargo& Co lowered two key companywide financial targets on Tuesday, citing low interest rates, higher credit and compliance costs and increased regulatory capital requirements. The San Francisco- based lender now targets a return on assets of 1.1 percent to 1.4 percent this year, down from the 1.3 to 1.6 percent it detailed in 2014.

  • The Financial Industry Regulatory Authority also suspended the company's former anti-money laundering compliance officer, Linda Busby, for three months and fined her $25,000, the regulator said. Raymond James and Busby both agreed to the sanctions in settlements with FINRA, without admitting nor denying FINRA's charges, FINRA said. The Raymond James U.S....

  • The Financial Industry Regulatory Authority also suspended the company's former anti-money laundering compliance officer, Linda Busby, for three months and fined her $25,000, the regulator said. Raymond James and Busby both agreed to the sanctions in settlements with FINRA, without admitting nor denying FINRA's charges, the regulator said.

  • Tech takes on rouge traders

    Colleen Graham, Chief Supervisory Officer at Signac, discusses Palantir and Credit Suisse's joint technology initiative to crack down on rogue traders.

  • NEW YORK, April 5- U.S. refiners who are delaying compliance with new cleaner gasoline production rules could face soaring costs beginning next year as they scramble to find deadline-extending fuel credits in a tight market, industry experts warn. The U.S. Environmental Protection Agency awards credits to refiners who produce gasoline with sulfur levels...

  • SHANGHAI, April 5- China's banking regulator said on Tuesday that lenders should tighten risk controls in their overseas branches, after some of the country's top banks have come under foreign scrutiny for alleged compliance failings. Banks should clarify the responsibilities of staff in overseas branches, strengthen judgment of risk and make sure...

  • April 1- A plan that would require New York state banks to adopt rigorous measures to prevent laundering and terrorist financing conflicts with U.S. laws and may hinder existing efforts, a bank trade group told regulators. The requirement, which could trigger criminal penalties for compliance officers who file false or incorrect certifications about their...

  • JPMorgan traders fired over compliance

    Filings reveal that the two employees did not adhere to certain control processes.

  • Compliance risks as Iran sanctions lifted

    Hugh Jones, CEO of Accuity, says businesses may face compliance problems when they try to do business in new markets such as Iran, where sanctions are expected to be lifted next year.

  • The cost of compliance

    Francis Lun, CEO at GEO Securities says the cost of compliance will affect banks earnings for years to come.

  • Hector Sants’ break from his role as chief compliance officer at Barclays due to stress has highlighted the strains on banks’ internal policemen.