Compliance

  • WASHINGTON— In a story Aug. 19 about Harley-Davidson's $15 million air-pollution settlement with federal regulators, The Associated Press reported erroneously the reason more than 12,000 motorcycles had been found out of compliance with federal clean air regulations. WASHINGTON— Harley-Davidson Inc. agreed Thursday to pay $15 million to settle a U.S....

  • ALBANY, N.Y.— New York financial regulators say Mega International Commercial Bank of Taiwan will pay a $180 million penalty and install an independent monitor for violating the state's laws against money laundering. A consent order signed by bank officials commits Mega International to install compliance controls. The bank has about $103 billion in assets,...

  • 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...

  • SHANGHAI, March 29- Britain's finance regulator may ramp up financial crime inspections at the London branches of two of China's biggest banks, with a focus on money laundering and anti-corruption, the Chinese magazine Caixin quoted unidentified sources as saying. China's banks have been dogged by allegations of lax compliance and money laundering in their...

  • Some industry groups have vowed to fight it in court and in the U.S. Congress, calling it unnecessary and warning that compliance will cost billions of dollars. Labor Secretary Thomas Perez at a news conference at the International Masonry Institute in Bowie, Maryland on Thursday called the deaths of thousands of workers over the last century from...

  • LONDON, March 22- The London Metal Exchange has just announced proposals for a new layer of regulatory oversight in the form of "accountability levels." However, this latest tweaking of LME compliance rules is all about an even bigger beast than the Wall Street heavyweight. It is Brussels that looms ever larger in the LME's thinking about how to preserve its unique...

  • LONDON, March 22- The London Metal Exchange has just announced proposals for a new layer of regulatory oversight in the form of "accountability levels". However, this latest tweaking of LME compliance rules is all about an even bigger beast than the Wall Street heavyweight. It is Brussels that looms ever larger in the LME's thinking about how to preserve its unique...