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News Headlines

08 August 2017 - CBA hit with lawsuit from shareholders over climate change
Commonwealth Bank of Australia (CBA)
Source - http://www.afr.com/news/politics/cba-hit-with-lawfare-from-shareholders-green-group-over-climate-change-20170807-gxre78
The Commonwealth Bank of Australia (CBA) has been hit with a lawsuit over allegations it failed to properly report on climate change risk in its annual review.

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07 August 2017 - CBA blames AML failures on coding error
Commonwealth Bank of Australia (CBA)
Source - https://www.finextra.com/newsarticle/30931/cba-blames-money-laundering-reporting-failures-on-atm-coding-error?utm_medium=newsflash&utm_source=2017-8-7
Commonwealth Bank of Australia (CBA) has blamed recent money laundering failures on a software coding error.

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26 July 2017 - 400,000 customers affected by UniCredit hack
UniCredit
Source - http://www.bbc.com/news/technology-40728447
UniCredit has announced it was the victim of two security breaches which saw 400,000 customers’ personal details compromised.

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26 July 2017 - Chinese police arrest 11 Rafotech employees

24 July 2017 - FCA secures £350,000 and jails insider dealer
Schroders
Source - https://www.fca.org.uk/news/press-releases/former-equities-trader-schroders-investment-management-sentenced-insider-dealing
The UK’s Financial Conduct Authority has announced that Damian Clarke, a former equities trader at Schroders Investment Management, has been sentenced to two years imprisonment having pleaded guilty to nine counts of insider dealing.

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22 July 2017 - Deutsche Bank & JPMorgan pay US$148m to settle US yen Libor cases
Deutsche Bank
Source - http://in.reuters.com/article/us-libor-yen-deutschebank-jpmorgan-idINKBN1A7006
Deutsche Bank and JPMorgan will pay a combined total of US$148m to draw a line under a class-action lawsuit brought against them by disgruntled investors for alleged benchmark interest rate manipulation.

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21 July 2017 - Senior executive at Philippine bank arrested for fraud
Metropolitan Bank and Trust Company (Metrobank)
Source - http://www.khaleejtimes.com/business/banking-finance/senior-executive-of-philippine-bank-arrested-for-fraud
The Philippines’ Metropolitan Bank and Trust (Metrobank) has been swindled out of approximately US$34.5m (1.75bn pesos) by one of its own senior executives.

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21 July 2017 - SocGen fined €5m for anti-terror failures
Société Générale
Source - http://www.france24.com/en/20170721-frances-socgen-bank-fined-over-anti-terror-lapses
The French financial regulator, ACPR, has fined Societe Generale €5m for anti-money laundering and anti-terrorist financing failures, reports Reuters.

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19 July 2017 - Bupa Global employee steals details of 547,000 customers
Bupa
Source - http://www.christianpost.com/news/bupa-global-data-breach-2017-news-employee-copies-personal-details-of-547000-customers-192537/
547,000 of health insurance company Bupa’s customers have had their personal details compromised by a rogue employee.

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18 July 2017 - Fraudsters steal US$7m by hacking a cryptocoin offering
CoinDash
Source - http://www.theasianbanker.com/press-releases/fraudsters-just-stole-$7-million-by-hacking-a-cryptocoin-offering?utm_source=Mailing+List&utm_campaign=b6fb79d629-Monday_Morning_Perspectives_July_2017_te07_24_2017&utm_medium=email&utm_term=0_d0fc96eb87-b6fb79
Fraudsters have managed to steal US$7m worth of cryptocurrency by hacking into an initial coin offering (ICO), a method used by many new cryptocurrency firms to raise funds. The process allows people to buy virtual tokens from crypto start-ups, which are intended to increase in value as the company grows.

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17 July 2017 - SocGen to pay €450,000 euro fine for compliance breaches
Société Générale
Source - http://www.reuters.com/article/us-amf-socgen-fine-idUSKBN19Y1SZ
Société Générale will pay €450,000 to settle charges from French regulators that claim it violated compliance rules when producing research notes through its Global Research and Strategy department.

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17 July 2017 - BNP Paribas fined US$246m for forex misconduct
BNP Paribas
Source - https://www.ft.com/content/ad5515d1-dbeb-393a-b706-a5b2b51e4140
The US Federal Reserve Board (FRB) has announced this week it will fine BNP Paribas US$246m for unsafe and unsound practices in currency markets.

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12 July 2017 - RBS agrees £3.65bn RMBS settlement
Royal Bank of Scotland (RBS)
Source - http://www.bbc.co.uk/news/business-40584399
The US Federal Housing Finance Agency (FHFA) has reached a settlement with Royal Bank of Scotland Group (RBS) for US$5.5bn (£3.65bn) for RMBS-related charges.

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11 July 2017 - HSBC and UBS pay US$14m each to settle rate fixing case
HSBC
Source - https://www.reuters.com/article/us-banks-rigging-settlement-idUSKBN19W28Q
HSBC and UBS will each pay out a US$14m settlement to end a private lawsuit brought by several pension funds and US municipalities.

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05 July 2017 - Police seize servers from software firm, prevent malware attack
Intellect Service
Source - http://ransomware.databreachtoday.com/police-seize-backdoored-firms-servers-to-stop-attacks-a-10083?rf=2017-07-05_ENEWS_SUB_BIS_Slot1&mkt_tok=eyJpIjoiTkdRMk1HRmtaalkyWVdNMCIsInQiOiJOXC8yKzhtT2VCOTY3dWJRQmZpdXlcL1pGMTRRaUFwcUgrOVZNb28yNFMxWTFLYURoRXNueGhvZ
Ukrainian police have seized servers from a family-run software development company in Ukraine to prevent what they believed to be an imminent malware attack.

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05 July 2017 - HBOS took £240m hit after HBOS fraud
Halifax Bank of Scotland (HBOS)
Source - http://www.hitc.com/en-gb/2017/07/05/hbos-took-240m-hit-after-serious-control-breakdown-in-reading/
HBOS took a £240m hit as a result of the Reading branch scandal, according to figures released by the UK’s Financial Conduct Authority this week.

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05 July 2017 - CBA closes 11 branches due to protests
Commonwealth Bank of Australia (CBA)
Source - http://www.theaustralian.com.au/national-affairs/adani-protests-prompt-cba-to-close-11-branches-in-newcastle/news-story/0b54d3db33c469aaccfc7b7c07983ab0
Commonwealth Bank of Australia has been forced to temporarily close the doors of its Newcastle branches because of “potentially large and disruptive protests.”

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04 July 2017 - Test data blamed for Nasdaq price errors
Nasdaq OMX
Source - https://www.finextra.com/newsarticle/30783/test-data-blamed-for-wild-swings-in-nasdaq-listed-stocks?utm_medium=dailynewsletter&utm_source=2017-7-5
Test data supplied by third-party vendors interfered with Nasdaq stock prices during after-hours US trading on 3rd July.

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29 June 2017 - CFTC reaches first non-prosecution deal with ex-Citigroup traders
Citigroup
Source - http://uk.reuters.com/article/usa-cftc-citigroup-idUKL1N1JQ17L?rpc=401&
The US Commodity Futures Trading Commission (CFTC) has entered into non-prosecution agreements (NPAs) with former Citigroup traders Jeremy Lao, Daniel Liao and Shlomo Salant, in exchange for their cooperation with the regulator’s investigation.

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27 June 2017 - Deutsche Bank faces possible US$60m loss on derivatives bet
Deutsche Bank
Source - https://www.bloomberg.com/news/articles/2017-06-27/deutsche-bank-said-to-face-possible-60-million-derivative-loss-j4fx1yar
Deutsche Bank could lose as much as US$60m on a derivatives bet, Bloomberg reports.

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Events

Location: New York, NY
Host: marcusevans North America
• Media partner
Join top experts from Wells Fargo, Citi, Bank of America, PNC and others to discuss and share best practices in qualitative and quantitative capital planning, implementing CECL and IFRS 9 guidelines, defining accounting elements in SMA proposal changes, vendor models and non-model tools, feedback from the regulators post-2017 CCAR and DFAST assessments, deposit modeling, economic capital calculations, and more!


Location: Etc Venues, London, EC3M 1AE
Host: Center for Financial Professionals
• Media partners
3rd Annual New Generation Operational Risk 2017 will bring together industry professionals to provide a platform for discussion, insights and reviewing of the top priorities across the industry. Operational risk is an area that is expanding in focus with many institutions deploying large resources and focusing attention on better management, understanding and most importantly adding value to the enterprise to overcome the direct and indirect risks associated. The Center for Financial Professionals looks to provide high-level insight on critical operational risk areas through interactive panel discussions, thought provoking presentations, interactive Q&A’s, luncheon roundtables and extensive networking opportunities to further progress the discussions.


Location: 8 Fenchurch Place, London, EC3M 4PB
Host: Center for Financial Professionals
• Media partners
The International Fund Management 2017 Summit brings together 300 asset and fund management professionals over two days to discuss and debate the latest in regulatory change, liquidity risk measurement and management, product innovation and much more, across multiple streams.


Location: London
Host: Center for Financial Professionals
The Insurance Risk Forum 2016 brings together senior insurance risk professionals to review the regulatory agenda, Solvency II, data requirements, impact of BREXIT in an era of technological advances.


Location: London
Host: Center for Financial Professionals
The Center for Financial Professionals invite you to attend Liquidity Risk Management Europe, a forum featuring interactive discussions and presentations from over 20 senior liquidity risk, treasury and ALM professionals. You and your colleagues can gain valuable insight from Credit Suisse, Standard Chartered, Nationwide, Barclays Capital, HSBC and many more leading financial institutions.


Location: New York City
Host: Center for Financial Professionals
Hosted by the Center for Financial Professionals, Cyber Risk Across Financial Institutions will feature interactive discussions and presentations assessing cyber risk best-practices across financial institutions for better understanding, management and compliance. Hear from 20+ senior risk professionals from leading financial institutions including; Lazard, AIG, BNY Mellon, State Street, Deutsche Bank, Bank of the West and more.


Location: New York City
Host: Center for Financial Professionals
Hosted by the Center for Financial Professionals, the New Generation Operational Risk conference is a forum featuring interactive discussions and presentations from more than 20 senior operational risk professionals. Over the two days you and your colleagues can gain valuable insight from the OCC and Federal Reserve Bank of New York.


Location: London
Host: Center for Financial Professionals
The Center for Financial Professionals invite you to attend Stress Testing Europe 2016, the leading European stress testing conference, which features keynote addresses from the European Central Bank, another key regulator to be announced soon, and a review of US stress tests from the Federal Reserve Board. Attending the Conference to also hear from over 20 senior stress testing professionals from FI’s including Nomura, HSBC, Credit Suisse, BNY Mellon, Barclays, Lloyds Banking Group, and more.


Location: London | One America Square
Host: Center for Financial Professionals (CFP Events)
Risk EMEA 2016 Conference will bring together industry professionals from a diverse range of global FIs to discuss FRTB, Risk & Regulation, Liquidity Risk, Capital Management.


Location: Amba Marble Arch | Bryanston Street | London | W1H 7EH
Host: Center for Financial Professionals (CFP Events)
FRTB 2016 conference will provide insight from Senior Market Risk professionals who will assess the costs and benefits of the Fundamental Review of the Trading Book and the challenges of implementation.


Location: London
Host: Institute of Operational Risk
This concise one day workshop in London will focus on the core components of the operational risk framework. It will provide the delegates with refresh of the latest tools and techniques for conducting risk and control self-assessments, selecting and analysing key risk indicators, and perfecting the loss data collection process. The course is very practical, uses group exercises and case studies.


Location: Grange City Hotel | London | EC3N 2BQ
Host: Center for Financial Professionals (CFP Events)
New Generation Operational Risk sets to provide insight from industry professionals implementing forward looking operational strategies to ensure compliance and safeguard against increasing technology threats.


Location: Frankfurt, Germany
Host: Center for Financial Studies
• Mike Finlay, CEO of RiskBusiness, participating in a panel discussion on the future of reputational consequence management.

Location: 71 Queen Victoria Street. London
Host: Funding Circle and Broadgate Search
• Mike Finlay, CEO of RiskBusiness, chairing this industry expert panel.
A Q&A panel discussion on digital disruption, with panellists Jerome Le Luel - Chief Risk Officer - Funding Circle (Previously Head of Risk Analytics at Barclays); Raghu Menon - Chief Risk Officer, Regions - Standard Chartered; Paul Rippon – Chief Risk Officer/ Deputy CEO – Mondo Bank (Digital bank) and Paul Harrald – Visiting Professor in Computing Science – UCL Engineering School.


Location: Panama City
Host: Marcus Evans Conferences
The changing financial environment and new national and international regulations necessitate a strategic, forward-looking view on enterprise risk management. The instability of Latin American markets and recurrent political volatility of the continent makes comprehensive risk management crucial in order to create a more sustainable financial sector. This conference provides a platform to share experiences and insight and discuss strategies to help strengthen ERM within your organisation.