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Compliance

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  • LONDON, Jan 22- Britain's financial regulator has fined and banned the former chief executive and compliance chief of UK interdealer broker RP Martin for "compliance and cultural failings" that it said permitted the alleged manipulation of benchmark interest rates. In its first fine on individuals for failings related to a sprawling, global investigation,...

  • WASHINGTON, Jan 15- U.S. pension regulators questioned Thursday whether criminal violations in one unit of Credit Suisse Group AG reflect broader compliance problems at the Swiss bank, in an unusual public hearing to vet its request to continue managing retirement plans. At issue is whether Credit Suisse should be granted permission to continue managing...

  • WASHINGTON, Jan 15- U.S. pension regulators said Thursday they have some concerns that Credit Suisse may lack a company-wide culture of compliance, and vowed to investigate further if they ultimately decide to let the bank continue managing U.S. retirement plans. Top Department of Labor officials made their comments during a public hearing, in which Credit...

  • ST. LOUIS, Jan 7- Under pressure from its U.S. regulator, Bank of America has shifted its compliance group from its legal department to its risk oversight group, a source familiar with the matter said. Officials with the Office of the Comptroller of the Currency, which in September finalized "heightened expectations" guidelines for the way large banks manage their...

  • WASHINGTON, Dec 16- Ocwen Financial Corp's mortgage servicing operations were criticized on Tuesday by a watchdog who questioned the independence of an internal audit group, adding to previous concerns from regulators. Ocwen is subject to the watchdog's oversight because it had acquired mortgage servicing rights from a unit of Ally Financial Inc. That...

  • Nov 20- Goldman Sachs Group Inc said it fired two staff after a junior employee passed confidential information from the Federal Reserve Bank of New York, his former employer, to a senior colleague in the investment bank. Goldman said the incident on Sept. 26 was immediately reported to its compliance team, regulators and the New York Fed and an internal...

  • *London shares tumble 9 pct to 5- year low. HONG KONG/ LONDON, Oct 28- Asia- focused bank Standard Chartered Plc warned investors that profits would fall in the second half of this year, after quarterly earnings were hit by a surge in bad loans and higher regulation and compliance costs. Standard Chartered said that as bad debts rise in key markets like India and China,...

  • *StanChart targets $400 million in further cost cuts. HONG KONG, Oct 28- Standard Chartered Plc said operating profit for the third quarter dropped 16 percent and earnings would fall in the second half as a whole, hurt by a jump in bad loans and higher regulation and compliance costs. The Asia- focused bank also said on Tuesday it would target a further $400 million in...

  • The cost of compliance   Monday, 4 Nov 2013 | 12:21 AM ET
    The cost of compliance

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

  • Compliance: A policeman’s lot is not a happy one Thursday, 17 Oct 2013 | 4:09 AM ET

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

  • New Financial Regulations Hard to Manage?   Tuesday, 2 Jul 2013 | 4:45 AM ET
    New Financial Regulations Hard to Manage?

    Neil Owen, global practice director at Robert Half Financial Services, discusses how challenging the "wave of new regulations" is for financial services executives, especially finding the right talents to implement the changes.