20th December 2019
Independent specialist the Financial Markets Tribunal (FMT) has upheld the decision by the Dubai Financial Services Authority (DFSA) to fine Anna Waterhouse $100,000 (£76,438, €89,860). As well as restricting her from being involved in providing financial services in or from the Dubai International Financial Centre (DIFC). Waterhouse was previously head… Read More
20th December 2019
The Swedish Financial Supervisory Authority (FSA) is opening a sanction case related to both its investigation into Skandinaviska Enskilda Banken AB’s (SEB) governance, as well as a check of anti-money laundering (AML) measures the bank’s subsidiaries in the Baltic States use. The decision on opening the sanction case is itself… Read More
19th December 2019
Finnish Financial Supervisory Authority said on Wednesday it has given 980,000 euros ($1.08 million) penalty to local banking group S-Pankki Oy for failures in its past know-your-client anti-money laundering checks. “Its risk-based approach has not been comprehensive enough in order to meet the requirements of anti-money laundering law and it… Read More
19th December 2019
Reeling from the fallout of a bribery scandal, Latvia’s central bank must become more transparent to clean up its image and must also push for greater transparency at the European Central Bank, its incoming chief Martins Kazaks said on Wednesday. The Latvian bank, one of the 19 central banks that… Read More
18th December 2019
The Bangko Sentral ng Pilipinas (BSP) said it will be probing about 10 banks to assess their ties with an Australian bank caught in a massive money laundering scandal. At the center of the inquiry is the Bank of the Philippine Islands (BPI), which is the remittance partner of Westpac,… Read More
18th December 2019
A Dubai bank shuttered accounts earlier this year of a secret offshore company belonging to a Maltese businessman since charged with the murder of an investigative journalist, two banking officials have said. The businessman, Yorgen Fenech, was charged last month with complicity in the 2017 killing of Daphne Caruana Galizia,… Read More
18th December 2019
Westpac has confirmed it has been served with its first shareholder class action lawsuit following the money laundering scandal that threw the lender into turmoil and cost former chief executive Brian Hartzer his position at the bank. Specialist class action law firm Phi Finney McDonald will allege the country’s… Read More
17th December 2019
Securities regulators have barred a former partner at Goldman Sachs from working in the industry more than a year after he pleaded guilty to helping orchestrate the looting of billions of dollars from a sovereign wealth fund in Malaysia. The banker, Tim Leissner, did not contest the penalty in… Read More
17th December 2019
Many investment firms have been touting new products as socially responsible. Now, regulators are scrutinizing some funds in an attempt to determine whether those claims are at odds with reality. The Securities and Exchange Commission has sent examination letters to firms as record amounts of money flow into ESG funds. Read More
17th December 2019
Britain’s government is set to announce its choice for the next boss of the Bank of England, one of its most pressing decisions after last week’s election victory of Prime Minister Boris Johnson. Below are possible contenders to replace Mark Carney as governor of the BoE which oversees the world’s… Read More