Compliance
SEC nears settlement with financial services firms over WhatsApp
The latest settlement is likely to see firms finalising deals that would include an admission of wrongdoing and commitment to fixing the issues
2 min read
Goldman Sachs to pay $5.5m to settle charges over pandemic-era audio records
The failures to comply with record-keeping rules for swap dealers relate to the investment banks’ staff communications during the Covid-19 pandemic
3 min read
City firms ramp up compliance spend to monitor messaging apps
The majority of banks and brokerage firms are now monitoring channels like WhatsApp
2 min read
Copper hires Standard Chartered, Deutsche Bank veteran as crypto firms bolster compliance teams
Crypto companies are widely expecting a regulatory crackdown in the coming years as they hunt banking risk experience
2 min read
FCA set for management talks over falling morale after staff survey blasts bosses
Leaked memo shows the FCA’s top brass are preparing to meet in September to discuss actions after critical feedback
3 min read
Banks target money launderers in data sharing drives
Technology can help banks team up to find money launderers, but the legal basis for information sharing is murky in many countries
5 min read
Why banks axing clients won’t stop the scourge of financial crime
Banks and regulators need to get on the same page about stopping financial crime
3 min read
NatWest accepts $35m fine in guilty plea over Treasury market spoofing
Banks are facing increasing scrutiny over whether they are living up to previous settlement deals
3 min read
The FCA has had a brutal 2021. Here’s why next year will be ‘daunting’ too
Experts weigh in on what to expect from a busy 2022 for the watchdog
6 min read
Fines for money laundering breaches total around $930m globally, drop 40% in second pandemic year
It comes despite widespread predictions of an uptick in financial crime during the Covid crisis
3 min read
More than a third of UK remote workers fear bosses’ spyware
A poll of 1,000 UK-based employees found that 38% were concerned about their employers spying on them
3 min read
Fidelity International turns to new surveillance tech to track staff communications
The company says the tech will enable ‘our ability to identify, stop and prevent adverse behaviours’ among regulated staff
Goldman Sachs warns traders: No ‘manipulation,’ social media or spreading rumours amid GameStop frenzy
A trader said staff are interpreting the memo as a caution about the GameStop market frenzy that has rattled some funds while triggering investors to reposition their portfolios
Somerset Capital names Wellington’s Wilson as first-ever compliance chief
James Wilson, who has worked as a compliance officer at hedge fund Wellington Management since 2016, joined Somerset Capital on 25 January
Banks rush to spy on traders’ Signal chats amid WhatsApp exodus
Surveillance firms are luring in bank clients to track Signal in what is becoming a perpetual whack-a-mole game between City workers and their compliance teams
Trader exodus from WhatsApp to Signal creates surveillance blind spot for City firms
Firms that provide surveillance services to the City, in one of the world’s most regulated industries, said they’re fielding calls from finance firms wondering how to address the new blind spot
5 min read
HSBC taps StanChart-backed AI startup for multi-year deal on financial crime
HSBC saw a spike in alert volumes and unpredictable volatility during the pandemic
2 min read
Wanted: Compliance hires as finance firms ramp up spying on staff
A survey from Nasdaq, which polled 210 banks, funds, and market infrastructure firms globally, found that investment in compliance talent increased this year across almost all levels in the profession
4 min read
City grandee predicts shift to corporate apps as Credit Suisse launches WhatsApp rival
Morrissey's tweet linked to a Financial News report that Credit Suisse had launched a recorded WhatsApp-style texting service for its employees
3 min read
Credit Suisse launches WhatsApp rival for staff as banks grapple with text tracking
The Swiss lender has designed a 'collaborative chat solution' to mirror WhatsApp as City firms amp up plans to monitor staff communication
3 min read
