17th August 2017
People in Jersey are being urged to be extra vigilant following a series of targeted attempts to defraud Jersey companies and their clients. The Jersey Financial Services Commission are warning local businesses and members of the public to be careful after at least three cases surfaced, where locally registered business… Read More
Stephen Platt, Chairman of KYC Technologies, offers an optimistic perspective on the impact of technology on AML compliance. Read More
5th July 2017
On June 5, 2017, the SEC charged brokerage firm Alpine Securities Corporation (Alpine) with securities law violations related to its ineffective anti-money laundering program. According to the SEC’s complaint, Alpine failed to adequately file suspicious activity reports (SARs) for at least 1,950 stock transactions that the firm flagged as suspicious.  The SEC found… Read More
9th June 2017
Britain’s market regulator charged a former UBS Group AG compliance officer with five counts of insider trading. Fabiana Abdel-Malek, 34, allegedly passed tips to a London man between June 2013 and June 2014 who traded on the information, Bloomberg reported. Read More
6th June 2017
The Financial Industry Regulatory Authority (FINRA) barred a former Morgan Stanley representative for concealing the customers behind around $190 million in Venezuelan bond trades. John Batista Bocchino hid the customers’ trades from Morgan Stanley by creating hundreds of documents containing false information, including new account forms and trade tickets, FINRA… Read More
25th May 2017
The FCA welcomes today’s publication of the FX Global Code (link is external). As we set out in our Mission, standards can be a useful way for the industry to police itself in support of our regulatory work and can help firms to communicate expectations of individuals when linked to… Read More
KYC360's Tom Devlin interviews Simon Gaudion, Director of the Enforcement Division at the Guernsey Financial Services Commission. Read More
16th May 2017
US regulators are clamping down on trade-based money laundering, but they should look further than banks to combat the practice. Financial crime was at the forefront of the agenda at the 2017 annual conference of the Bankers Association for Finance and Trade (BAFT): on top of a number of banks’… Read More
10th May 2017
The Securities and Exchange Commission today charged a former employee with securities fraud in connection with his trading of options and other securities. The SEC’s complaint alleges that David R. Humphrey, who worked at the SEC from 1998 to 2014, concealed his personal trading from the SEC’s ethics office and… Read More
9th May 2017
The Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) today issued a General Administrative Act pursuant to section 4b of the German Securities Trading Act (Wertpapierhandelsgesetz – WpHG). The General Administrative Act restricts the marketing, distribution and sale of financial contracts for difference (CFDs). Contracts with an additional payments… Read More