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No bank is ‘too big to jail,’ U.S. Attorney General Holder warns
With statutes of limitations about to run out on much of the pre-crisis conduct, Holder and the DoJ, as well as the regulatory agencies, will have to scramble to bring civil and criminal cases in…
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Tagged attorney, bank, general, holder, jail’, U.S., Warns, ‘too
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Exclusive: Consultancies on second tier as Justice Department seeks HSBC compliance monitor
In January, HSBC passed a list of three preferred monitor candidates to the Justice Department, which can choose one of them or instruct HSBC to come up with a new list.
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Tagged compliance, Consultancies, department, exclusive, HSBC, justice, monitor, second, seeks, tier
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U.S. consumer bureau’s first criminal referral is a warning for regulated banks
When conducting an examination, its examiners look at issues such as potential legal violations involving unfair, deceptive, or abusive practices, issues arising from complaints, and specific…
ACCELUS SUMMIT: Former U.S. SEC chief Pitt warns against imposing regulations abroad, urges industry engagement
To keep up, compliance and regulation professionals are now spending 20 percent of their time just on tracking regulatory changes. – Harvey Pitt, SEC
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Tagged abroad, ACCELUS, against, chief, engagement, former, imposing, industry, pitt, Regulations, summit, U.S., urges, Warns
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EXCLUSIVE: Public face of controversial AML rule-making effort to leave U.S. Treasury Department
Sarah Runge, who has served as assistant director under Poncy, will take over as acting director of the Treasury office when he leaves. A Treasury official described her as “sharp and motivated.”
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Tagged controversial, department, effort, exclusive, face, leave, public, rulemaking, treasury, U.S.
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ACCELUS SUMMIT: FATCA compliance is a manageable challenge, but deadlines loom
The key to establishing a FATCA compliance program is to create onboarding and monitoring protocols that identify responsibility for functions, and to educate customers and clients about their tax…
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Tagged ACCELUS, challenge, compliance, deadlines, FATCA, loom, manageable, summit
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ACCELUS SUMMIT: FATCA compliance is a manageable challenge, but deadlines loom
The key to establishing a FATCA compliance program is to create onboarding and monitoring protocols that identify responsibility for functions, and to educate customers and clients about their tax…
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Tagged ACCELUS, challenge, compliance, deadlines, FATCA, loom, manageable, summit
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SEC’s Walter says she is open to alternatives to overseeing investment advisers
Walter has said in the past that a self-regulated organization should oversee investment advisers because the SEC does not have the resources to regulate the industry by itself.
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Tagged advisers, alternatives, investment, open, overseeing, says, SEC’s, Walter
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New regulations require cleaner data
The industry has come to realise that, all too often, business entity reference data can be unclear, inaccurate and maintained using legacy processes, often manual, which cannot keep pace with or…
New Basel credit-exposure limits will force banks to think harder on concentration
In light of the new guidance provided by the BIS and numerous scandals that marred the banking industry since early 2012, U.S. regulators will be under pressure to revise their proposals in the…
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Tagged banks, Basel, concentration, creditexposure, force, Harder, Limits, think
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