Regulatory Wrap episode 74: The FCA knows what you did last summer
In Regulatory Wrap for the week to October 31, Jay Hampshire breaks down a speech from the FCA, which reinforces its “do the right thing” motto.
Record C$176 million FINTRAC fine for AML failings
Canada’s anti-money laundering watchdog fined Xelox Enterprises Ltd C$176 million for violating anti-money laundering regulations under the Proceeds of Crime and Terrorist Financing Act.
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.
FINRA fines broker $10,000 for off-channel communications breaches
An ex-Wells Fargo broker has been fined and suspended by FINRA for breaching recordkeeping rules, and attempting to cover up misconduct by deleting messages.
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.
FCA crypto consultation proposes firms play by conduct and resilience rules
The Financial Conduct Authority is consulting on which minimum rules should apply to cryptoasset firms, particularly regulations governing operational resilience, governance, and the conduct of senior staff.
The Conduct Chronicles – Deepfakes. Who are you really dealing with?
Emma Parry explores the growing risk of deepfake fraud, highlighting real world cases that have led to the loss of millions of dollars through scams and manipulation.
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.
The Conduct Chronicles – SEC Renegotiation? Not a chance!
Regulators are reviewing and revising regulations by creating a less intense process for financial services looking to comply with the rules, and while the SEC has refused revisiting past settlements, FINRA seems to be on the case.
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.
