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Compliance

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  • 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...

  • NEW YORK, Aug 18- Standard Chartered Plc is close to a deal to pay between $200 million and $300 million to resolve allegations by New York's banking regulator that it failed to review high-risk transactions, two years after agreeing to reform its practices, a person familiar with the matter said on Monday.

  • DETROIT, Aug 12- Chrysler Group LLC on Tuesday announced the establishment of a new office called "vehicle safety and regulatory compliance" led by a veteran company senior vice president, Scott Kunselman.

  • Aug 7- U.S. banking regulators have ordered Deutsche Bank AG to improve its compliance systems and risk controls, the Wall Street Journal reported, citing people familiar with the matter.

  • FRANKFURT, Aug 5- Deutsche Bank named U.S.-Swiss lawyer Nadine Faruque to lead a reform of its regulatory compliance practices, as it battles to cut a long and expensive list of investigations and potential settlements that have dogged it since the financial crisis.

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

    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

    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.