8th July 2016
As the new General Data Protection Regulation privacy regulation looms, many firms face new rules and challenges to protect the privacy of EU citizens, regardless of location. Read More
8th July 2016
Federal anti-money laundering (AML) regulations, rooted in the Bank Secrecy Act (BSA), have long required financial institutions to maintain internal control systems to assure compliance, provide for independent testing, designate individuals responsible for compliance and provide training for all appropriate personnel. Building beyond the federal BSA/AML framework, the New York… Read More
7th July 2016
The European commission said yesterday (July 5) that it was proposing strict new rules for companies that exchange or store digital currencies such as bitcoin. The European Union’s executive arm wants to make exchanges and storage services comply with the anti-money-laundering rules that govern banks and other financial institutions. Read More
6th July 2016
The first draft of Vietnam’s revised anti-corruption law was published in late June by the Government Inspectorate to welcome feedback from experts and the public as the country promises to tighten its grip on dishonest conduct. Read More
6th July 2016
Romania’s efforts to combat political abuse have received both praise and scorn, domestically, as well as internationally. Read More
6th July 2016
Strict EU rules on privacy mean that online data — whether pictures, emails, health records — can only be transferred within the trading bloc or to countries that guarantee an “adequate” level of protection. Currently personal data can whizz between EU countries, such as Britain, France and Spain, but can… Read More
5th July 2016
Russian President Vladimir Putin signed into law on Monday a draft law toughening responsibility for corruption in Russian sports stipulating penalties from financial fines to prison terms. Read More
4th July 2016
Spain will compete with other countries in the European Union to host the headquarters of the EU’s London-based bank regulator following Britain’s decision to leave the bloc, its deputy prime minister said on Friday. The race to host the European Banking Authority is led by Paris and Frankfurt, the largest… Read More
4th July 2016
Sam Woods isn’t going to have time to ease into his new job. Woods begins a five-year term atop the Prudential Regulation Authority on Friday as the U.K.’s main bank regulator tries to steer the European Union’s largest financial hub through the turmoil loosed by Britain’s decision to quit the bloc. Read More
4th July 2016
Wall Street declared victory on Thursday after Maria Vullo, the recently appointed head of the Department of Financial Services, finalized anti-terrorism and money-laundering rules that spared top compliance officers from taking the fall for illegal money transfers. Under Vullo’s rules, which go into effect on Jan. 1, a bank’s board… Read More