Featured Compliance

Leaked documents reveal Huawei’s secret operations to build North Korea’s wireless network

Huawei Technologies Co., the Chinese tech giant embroiled in President Trump’s trade war with China and blacklisted as a national security threat, secretly helped the North Korean government build and maintain the country’s commercial wireless network, according to internal documents obtained by The Washington Post and people familiar with… Read More

Swiss Bank to Pay $1.2 Million for Failing to Report US-Linked Accounts

Banque Bonhôte & Cie SA, Ltd. (Bonhôte) of Switzerland will pay an additional $1.2 million to American authorities after acknowledging that it under-reported its US-linked accounts in a 2015 non-prosecution deal reached under the Swiss Bank Program. The latest monetary penalty adds to the $624,000 previously paid by the Swiss… Read More

EU Commissioners Recommend Tweaks to Terror Finance Program

The European Commission on Monday formally reapproved a US-EU initiative that permits investigators of terrorism to obtain financial records from participating nations. In its fifth review of the Terrorist Finance Tracking Program (TFTP), the commission said that information provided to it by American authorities, Europol, independent overseers and other… Read More
23rd July 2019
Kenyan Finance Minister Henry Rotich was arrested on Monday on suspicion of financial misconduct related to the construction of two dams, an unprecedented detention of a sitting minister for corruption in a country notorious for graft. The charges against Rotich stem from a police investigation into the misuse of funds… Read More
23rd July 2019
The United States has sanctioned the China’s state-run energy company Zhuhai Zhenrong Co Ltd for allegedly violating restrictions imposed on Iran’s oil sector, U.S. Secretary of State Mike Pompeo said in a speech on Monday. “We’ve said that we will sanction any sanctionable behavior, and we mean it,” Pompeo said… Read More
23rd July 2019
Bank executives in Australia may have to wait as long as seven years to receive their bonuses and face a greater emphasis on improving culture and governance, under regulatory proposals spurred by a string of scandals across the financial industry. In other changes, financial measures will account for no more… Read More
23rd July 2019
SIX, the operator of Switzerland’s stock exchange, said it plans to launch a data service for more than 30,000 securities connected to marijuana related businesses (MRB) to help investors assess their exposure to cannabis-linked companies. Aimed at investors who don’t want their money being used for buying securities involved in… Read More
23rd July 2019
The new chief executive officer of Danske Bank A/S says he wants anyone with good ideas about how to run his firm to contact him. About 1 1/2 years after Danske was slammed by its financial regulator for having a culture that… Read More
23rd July 2019
President Vladimir Putin handed Russian citizenship to gas producer Novatek’s veteran finance chief Mark Gyetvay on Monday, a move that could potentially help the U.S. national bypass some sanctions restrictions. U.S. sanctions imposed on Russia in 2014 ban U.S. nationals and companies from helping organize long-term funding for some major… Read More
22nd July 2019
Britain has kicked off a review of how regulation of finance could be improved after Brexit, saying it would not tweak the existing set-up of watchdogs introduced in the aftermath of the financial crisis a decade ago. The European Union has been the source of financial rules in Britain for… Read More
22nd July 2019
Standard Chartered Plc’s transactions with Iran were worth tens of billions of dollars more than previously known, a whistle-blower said in a lawsuit claiming the British bank actively pursued Iranian business in violation of U.S. sanctions. The whistle-blower, a bank executive who isn’t named in court papers,… Read More
22nd July 2019
Britain was weighing its next moves in the Gulf tanker crisis on Sunday, with few good options apparent as a recording emerged showing that the Iranian military defied a British warship when it boarded and seized a ship three days ago. Prime Minister Theresa May’s office said she would chair… Read More
22nd July 2019
A former Credit Suisse Group AG banker admitted taking millions of dollars in kickbacks as part of a scam that involved as much as $2 billion in loans to Mozambique state-owned companies. Andrew Pearse, 49, a former managing director, made the admission Friday as he pleaded guilty… Read More