The Risk Universe is a website and a monthly digital magazine that seeks to shed some much needed illumination onto the world of operational risk management.

ESG regulation: what you need to know
ESG (Environmental, Social and Governance) is becoming an increasingly important area of regulatory compliance, with mandatory reporting growing in prevalence globally. This latest report from Risk Universe by RiskBusiness looks at examples of approaches to ESG regulation around the globe, highlighting some of the primary compliance challenges for firms, including new regulatory developments.
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Latest News

TD Bank suffered systemwide banking outage, services now recovered

TD Bank has recovered from a major IT systems outage today that prevented account holders from accessing their online bank accounts, use ATM, or check balances over the phone.

ASIC sues NAB for unconscionable conduct and misrepresentations over account fees

ASIC has commenced proceedings in the Federal Court against National Australia Bank Ltd (NAB), alleging that NAB charged fees for making certain periodic payments when it was not entitled to under the bank’s contracts with its customers.

Fed restores some services after outage on ‘operational error’

For about four hours Wednesday, Federal Reserve systems that execute millions of financial transactions a day — everything from payroll to tax refunds to interbank transfers — were disrupted by what appeared to be some sort of internal glitch.

Ex-UBS employee sues bank over film tax scheme losses

UBS Group is under fire from its former global head of HR who claims he was invited to invest in a “free punt” film tax scheme.

Criminal charges laid against Allianz

Allianz and associated company AWP have been charged with counts of making false or misleading statements around the sale of travel insurance products.

Mutual fund locks out founder after SEC questions swaps pricing

By 30, James Velissaris was the founder, majority owner and chief investment officer of his own innovative mutual fund company, set up with backing from billionaire investing titan David Bonderman. This week, Velissaris was abruptly locked out.

VC firm Sequoia Capital suffers data breach, investor information stolen

Sequoia Capital, one of the most famous venture capital firms in Silicon Valley has suffered a data breach with investor information likely stolen.

Morgan Stanley, RBC team tangle over $600m of client assets and advisor prenup

A one-paragraph amendment to an employment contract signed a decade ago may help a former $600 million Morgan Stanley team retain their clients after they left to work for RBC.

£550K fine for firm’s anti-money-laundering breach

A trust company that broke anti-money-laundering laws when dealing with a client who was investing millions of dollars of Angolan public money has been fined £550,000.

Singapore Police probe 2 firms in alleged metal trade fraud

Singapore’s Commercial Affairs Department, a police unit for financial crime, is investigating two companies for alleged fraud related to a nickel investment scheme.

Finra fines international broker-dealer Actinver for AML failures

Houston-based international brokerage firm Actinver Securities has been fined $150,000 and censured by the Financial Industry Regulatory Authority (Finra) for failures within its anti-money laundering (AML) procedures.

Stolen Jones Day law firm files posted on dark web

The Clop ransomware group has reportedly started posting data on the Dark Web apparently stolen from law firm Jones Day, which represents many of the globe’s most powerful people, including former president Donald Trump in his efforts to overturn the 2020 election.
 
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