18th October 2019
Republican and Democratic lawmakers vowed to move ahead with sanctions on Turkey despite the announcement by Vice President Mike Pence that Turkish President Recep Tayyip Erdogan agreed to temporarily halt hostilities in northern Syria. South Carolina Republican Lindsey Graham and Maryland Democrat Chris Van Hollen said they welcomed the agreement… Read More
17th October 2019
Goldman Sachs has been negotiating with the Malaysian authorities to drop criminal charges against three of its subsidiaries in connection with three bond issues by 1Malaysia Development Berhad, or 1MDB. The government is seeking $3.3 billion in compensation from the U.S. investment bank, accusing it of helping a Malaysian businessman… Read More
14th October 2019
Three U.S. financial regulators on Friday issued a warning to firms with registered digital assets that they have an obligation to follow securities laws prohibiting money laundering and requiring disclosure of suspicious activity. The notice, from the U.S. Securities and Exchange Commission, Commodity Futures Trading Commission and the Financial Crimes… Read More
26th September 2019
The Council of Europe’s anti-money laundering (AML) watchdog called on nations to take swift action against money launderers and terrorist financiers in an annual report published Wednesday.  Moneyval Chair Elzbieta Frankow-Jaskiewicz said in the report that large-scale money laundering scandals and terrorist attacks in 2018 underline the “importance and… Read More
25th September 2019
Whether the U.K. leaves the European Union with no deal or clinches a last-minute agreement in the coming weeks, Brexit has already taken a toll on London’s finance industry. Three years and three prime ministers since the vote, fraught negotiations and political turmoil have sapped confidence in the industry, putting… Read More
17th September 2019
Germany’s biggest tax scandal has landed the masters of the financial universe with an unflattering label: criminal organizations. It’s an allegation not leveled by finger-wagging populist crusaders, but prosecutors seeking to push their case beyond a probe of lost revenue. Now two dozen financial institutions caught up in the so-called… Read More
17th September 2019
FINRA is fining J.P. Morgan Securities $1.1 million for failing to report 89 internal investigations against its advisors and employees between 2012 and 2018. The timeline covers the period of time when former JPMorgan financial advisor Johnny Burris began whistleblowing about product pushing and other alleged problems at the bank. Read More
17th September 2019
A court issued an arrest warrant for the nephew of scandal-struck Justice Minister Cho Kuk on Monday night as part of a widening probe into corruption allegations surrounding the minister’s family. Judge Im Min-sung of the Seoul Central District Court issued the warrant, saying the suspect’s detention was needed to… Read More
12th September 2019
Commerzbank AG’s offices in Frankfurt were searched Tuesday as German authorities continued their investigations into a widening tax scandal involving multiple global lenders. The raids are tied to controversial trading practice across the industry known as Cum-Ex, according to a person with knowledge of the matter who asked not… Read More
10th September 2019
The chairman of the U.S. Securities and Exchange Commission chided counterparts around the world for spotty enforcement of antibribery laws. In a speech in New York on Monday, Jay Clayton said countries that neglect to punish corporate bribery create a two-tiered system that gives their domestic companies a leg up… Read More