10th May 2019
Barclays, Citigroup, HSBC, JPMorgan and three other banks are set to be fined by EU antitrust regulators in coming weeks for rigging the multi-trillion dollar foreign exchange market, two people familiar with the matter said. The other three lenders are Royal Bank of Scotland, UBS and a small Japanese bank,… Read More
3rd May 2019
Wall Street’s industry-funded watchdog on Thursday proposed a rule to boost oversight of securities brokerages with a “significant history of misconduct” that could require them to set aside funds that cannot be withdrawn without the regulator’s consent, among other measures. The proposal, published in a Financial Industry Regulatory Authority (FINRA)… Read More
1st May 2019
The European Commission’s top policymaker for the financial services sector has called for the EU to adopt new legislation in response to a decision earlier this month to close a bloc-wide investigation into the supervision of Danske Bank, the Financial Times reported. The European Banking Authority (EBA) voted on 16 April… Read More
26th April 2019
Swedbank admitted to failings in combating money laundering on Thursday and said it was under investigation by multiple U.S. authorities, piling more pressure on the bank as it tries to rebuild its reputation. Sweden’s oldest bank, whose CEO and chairman have both left as money laundering allegations snowballed, is already… Read More
26th April 2019
The US Federal Reserve on Thursday ordered the New York-branch of Sumitomo Mitsui Banking Corporation to improve its anti-money laundering (AML) controls for senior management and board directors. Under the terms of the written order, the Japanese lender must draft a plan for ensuring that its top managers are made… Read More
26th April 2019
Belgian bank Degroof Petercam has been audited by the Belgian central bank over how it guards against money laundering, and a source at the European Central Bank said the ECB’s Supervisory Board would take up its case at a meeting starting on Thursday. In a statement on Wednesday, which came… Read More
26th April 2019
The U.S. Treasury, moving to boost pressure on Hezbollah, imposed sanctions on Wednesday against two people and three firms that Washington accuses of being involved in schemes to help the armed Shi’ite group backed by Iran evade American sanctions. The Treasury’s Office of Foreign Assets Control (OFAC) said it was… Read More
25th April 2019
Nicaraguan bank Bancorp has requested permission from the country’s banking regulator to cease operations after the United States imposed sanctions on the firm, according to a letter seen by Reuters on Wednesday. Bancorp submitted a request to Nicaragua’s banking and financial regulator for “early voluntary dissolution.” “Our bank is unable… Read More
24th April 2019
Japan’s financial regulator raided two cryptocurrency exchanges last week to investigate their internal oversight, including customer protection and anti-money laundering measures, two sources familiar with the matter said on Tuesday. The Financial Services Agency (FSA) is pushing to ensure the security of virtual currencies as Japan aims to leverage the… Read More
22nd April 2019
Tehran is prepared for a U.S. decision to end waivers granted to buyers of Iranian crude, an Iranian oil ministry source said on Monday, as the Revolutionary Guards repeated their threat to close the strategic Strait of Hormuz, Iranian media reported. The United States will fail to cut Iranian oil… Read More