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Policies & Regulatory Compliance News

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151-165 of 372 results
FINRA fines Merrill Lynch for mutual fund sales overcharges
By BBR Staff Writer
Merrill Lynch, Pierce, Fenner & Smith (MLPF&S) has been fined by the Financial Industry Regulatory Authority (FINRA) over failure to waive mutual fund sales charges for certain charities and retirement accounts.
Policies & Regulatory Compliance > News
US DoJ to sue Citi, BofA over shoddy mortgage bonds sale
By BBR Staff Writer
The US Department of Justice (DoJ) is likely to sue Citi and Bank of America (BofA) over the alleged sale of private-label mortgage-backed securities by the lenders in the run-up to the 2008 financial crisis.
Policies & Regulatory Compliance > News
Philippines Senate approves bill expanding foreign ownership of local banks
By BBR Staff Writer
The Senate of the Philippines has passed a bill that expands the participation of foreign banks in the domestic financial sector.
Policies & Regulatory Compliance > News
BofA negotiates $12bn settlement with US Justice Department
By BBR Staff Writer
Bank of America (BofA) is reportedly in negotiations with the US Justice Department to pay at least $12bn to resolve multiple federal and state civil investigations into its alleged handling of shoddy mortgages in the run up to the 2008 financial crisis.
Policies & Regulatory Compliance > News
FINRA fines Barclays, Goldman and Merrill Lynch for inaccurate blue sheet data
By BBR Staff Writer
Barclays Capital, Goldman Sachs and Merrill Lynch have been censured and fined $1m each by the Financial Industry Regulatory Authority (FINRA) for submission of inaccurate blue sheet data to regulators.
Policies & Regulatory Compliance > News
BMO Capital implements Fenergo’s regulatory onboarding solution
By BBR Staff Writer
BMO Financial Group’s investment and corporate banking unit, BMO Capital Markets, has deployed Fenergo’s solution for a regulatory and tax compliant client onboarding process.
Policies & Regulatory Compliance > News
UK Treasury soon to announce new forex market regulations
By BBR Staff Writer
The UK Finance Ministry is expected to soon reveal new measures to prevent the repeat of a rate-fixing scandal in the London’s foreign exchange market.
Policies & Regulatory Compliance > News
RBI approval mandatory in cases of acquisition or transfer of control of NBFCs
By BBR Staff Writer
The Reserve Bank of India has issued directions to all the non-banking financial companies (NBFCs), both deposit accepting and non-deposit accepting, stating that prior approval of the Reserve Bank is required in case of any takeover/acquisition of shares of an NBFC; or merger/amalgamation of an NBFC with another entity; or any merger/amalgamation of an entity with an NBFC, that would give the acquirer/ another entity control of the NBFC, or would result in acquisition/transfer of shareholding in excess of 10 percent of the paid up capital of the NBFC.
Policies & Regulatory Compliance > News
FCA fines Barclays over failure surrounding the London Gold Fixing
By BBR Staff Writer
The Financial Conduct Authority (FCA) has fined Barclays Bank Plc (Barclays) £26,033,500 for failing to adequately manage conflicts of interest between itself and its customers as well as systems and controls failings, in relation to the Gold Fixing.
Policies & Regulatory Compliance > News
EC charges JPMorgan, HSBC and Credit Agricole with EURIBOR rate rigging
By BBR Staff Writer
JPMorgan, HSBC and Credit Agricole have been charged by the European Commission (EC) for violation of the European Union (EU) antitrust rules by conspiring to manipulate the Euro Interbank Offered Rate (EURIBOR).
Policies & Regulatory Compliance > News
Credit Suisse pleads guilty in US tax evasion probe
By BBR Staff Writer
Credit Suisse has pleaded guilty to criminal charge for its role in income tax evasion by some US citizens and also agreed to pay CHF2.5bn ($2.6bn) in penalty to the US Government.
Policies & Regulatory Compliance > News
UK FCA fines Martin Brokers for failings in relation to LIBOR
By BBR Staff Writer
The Financial Conduct Authority (FCA) has fined Martin Brokers (UK) Ltd (Martins) £630,000 for misconduct relating to the London Interbank Offered Rate (LIBOR).
Policies & Regulatory Compliance > News
Hong Kong SFC reprimands Citigroup over algorithmic trading system misfires
By BBR Staff Writer
The Securities and Futures Commission (SFC) has reprimanded Citigroup Global Markets Asia Limited (Citigroup) for its failure to ensure that certain securities orders executed through its algorithmic trading system between April 2009 and May 2010 would not cause undue price impact to the market in resolving the SFC’s concerns over Citigroup’s algorithmic trading system (Note 1).
Policies & Regulatory Compliance > News
INVIVOO simplifies Crédit Agricole CIB's risk management with XComponent
Invivoo's XComponent software solution rationalises, secures and enhances existing IT developments pertaining to certain market-risk calculations by steering them towards real-time capability.
Policies & Regulatory Compliance > News
Countries sign OECD’s accord on automatic exchange of information in tax matters
By BBR Staff Writer
All 34 member countries of the Organisation for Economic Co-operation and Development (OECD) have signed an agreement that seeks automatic exchange of information between jurisdictions to combat global tax evasion.
Policies & Regulatory Compliance > News
151-165 of 372 results