FINTRAC issues a C$600,000 fine for transaction monitoring failures
Canada’s anti-money laundering watchdog fined the First Nations Bank of Canada C$600,000 for violating multiple regulations, including a failure to regularly monitor business relationships for suspicious transactions.
Regulatory Wrap episode 73: Comms compliance gets personal
In Regulatory Wrap for the week to October 24, Jay Hampshire covers FINRA’s $10,000 fine against an individual for off-channel breaches.
How can firms maintain SEC Marketing Rule compliance?
Despite a slowdown in regulatory enforcement actions, ongoing Marketing Rule fines have signaled that compliant marketing messaging remains a priority for SEC. Explore how firms can reinforce compliance posture and implement the right tools to follow the marketing rules.
Regulatory Wrap episode 72: FCA’s call to action on financial crime
In Regulatory Wrap for the week to October 10, Jay Hampshire summarizes the FCA’s recent speech encouraging collaboration to fight financial crime.
How much can weak cybersecurity structures cost firms?
With cybercriminals ramping up the frequency and complexity of attacks against financial organizations, it’s evident that a lacking security infrastructure can take a significant toll on not just revenue and business operations – but reputation.
Regulatory Wrap Episode 71: FDA takes aim at pharma companies’ social media activity
In Regulatory Wrap for the week to October 3, Ryan Thaxton explores the growing spotlight on pharma companies’ social media activity.
Regulatory Wrap episode 70: What the CFTC’s “enforcement sprint” means for compliance
In Regulatory Wrap for the week to September 12, Kathryn Fallah reviews recent enforcement action from the CFTC against 10 firms for technical compliance failures.
Proactive cooperation reduces CFTC fines to $8 million
The CFTC’s recent “enforcement sprint” initiative saw 10 firms fined a combined amount of $8.3 million, with most receiving fine reductions for “exemplary cooperation” and remediation plans – demonstrating the benefits of self-reporting and collaboration with the regulator.
Regulatory Wrap episode 69: DOJ pushes firms to self-disclose misconduct
In Regulatory Wrap for the week to September 5, Aarti Agarwal discusses the DOJ’s efforts to encourage self-disclosure with its new policy.
Regulatory Wrap episode 68: FCA WhatsApp breach survey
In Regulatory Wrap for the week to August 15, Jennie Clarke discusses recent FCA survey results, which found that firms are still grappling with off-channel comms violations.
Regulatory Wrap episode 67: The $80K cover-up FINRA didn’t miss
In Regulatory Wrap for the week to August 1, Jay Hampshire reviews a FINRA fine against a firm rep for concealing misconduct using off-channel communications.