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.

Recovering from a virus: safeguarding your firm’s assets and returning to business as usual
COVID-19 caused an unprecedented and hasty change to the manner in which we conduct business, with many in the workforce exposed for the first time to extended spells of working from home. In our latest report, RiskBusiness Chief Executive Mike Finlay looks at the potential data security issues that may arise from remote working.
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Latest News

Finra orders Stifel to pay $3.6 million for violations in sales of unit investment trusts

Finra imposed more than $3.6 million in sanctions on Stifel Nicolaus & Co. Inc. Thursday for violations involving the sales of unit investment trusts.

ASB Securities hit with $80,000 fine for 14-year privacy breach

ASB Securities has been fined $80,000 for a privacy breach which left hundreds of online accounts able to be viewed and traded by users without permission.

Private equity firm Ares Management LLC charged with compliance failures

The Securities and Exchange Commission today announced that Ares Management LLC, a Los Angeles-based private equity firm and registered investment adviser, has agreed to pay one million dollars to settle charges that it failed to implement and enforce policies and procedures reasonably designed to prevent the misuse of material nonpublic information.

Natixis losses on equity derivatives soar to 250 million euros

Natixis SA, the French investment bank that embraced complex trades as a key money maker, has lost about 250 million euros so far this year on equity derivatives.

Finra fines SunTrust for unsuitable ETF sales practices

SunTrust Investment Services agreed to pay $634,000 to settle charges that it failed to properly supervise brokers who recommended that customers hold for long periods “nontraditional” exchange traded funds that can quickly lose value in volatile markets, the Financial Industry Regulatory Authority said this week.

First Data agrees $40m FTC settlement

First Data Merchant Services and one of its former executives will pay more than $40.2 million to settle US charges that they knowingly processed payments and laundered, or assisted laundering of, credit card transactions for scams that targeted hundreds of thousands of consumers.

SFC reprimands and fines Convoy Asset Management Limited $6.4 million for regulatory breaches over bond recommendation

The Securities and Futures Commission (SFC) has reprimanded and fined Convoy Asset Management Limited (CAML) $6.4 million for control failures in solicitation and recommendation of bonds to clients.

Santander agrees to $550 million U.S. settlement over subprime auto loans

Santander Consumer USA Holdings Inc said on Tuesday it had agreed to make changes to its underwriting practices as part of a $550 million settlement with 33 states and the District of Columbia over subprime auto loans.

Nine million EasyJet customer accounts hacked

Low cost carrier EasyJet has fallen victim to a "sophisticated" cyber attack that lifted the personal details of nine million customers.

Signature scandal puts more pressure on AMP's battle-weary management

The business of one of AMP's star financial advisers appeared to have cut and pasted signatures on to loan contracts, including one for a $600,000 loan to a woman who knew nothing of its existence until AMP pursued her for repayments on it after her divorce.

SFC reprimands and fines Southwest Securities (HK) Brokerage Limited $5 million for breaches of anti-money laundering regulatory requirements

The Securities and Futures Commission (SFC) has reprimanded and fined Southwest Securities (HK) Brokerage Limited (SSBL) $5 million for failures in complying with anti-money laundering and counter-terrorist financing (AML/CFT) regulatory requirements in 2016.

Carillion auditor KPMG faces £250m negligence lawsuit

KPMG is facing a £250m lawsuit for alleged negligence in its audits of Carilion before it collapsed in 2018.

 
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