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News Headlines

25 April 2017 - AIB fined for breaching AML rules
Allied Irish Banks (AIB)
Source - http://www.irishtimes.com/business/financial-services/aib-fined-2-3m-for-breaching-money-laundering-rules-1.3061279
The Central Bank of Ireland has fined Allied Irish Banks (AIB) €2.275m and reprimanded it for six breaches of the Criminal Justice Money Laundering & Terrorist Financing Act, 2010 (CJA).

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25 April 2017 - SEC charges risk management vice president with insider trading
Nomura
Source - http://www.hitc.com/en-gb/2017/04/25/sec-charges-vp-in-risk-management-with-insider-trading/
The Securities and Exchange Commission (SEC) has charged a vice president in the risk management department of a New York-based investment bank with insider trading on confidential information he learned in advance of a private equity firm’s acquisition of a publicly-traded technology company.

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22 April 2017 - Former Chinese exchange official fined US$36m
Shenzhen Stock Exchange / 深圳交易所
Source - https://www.bloombergquint.com/markets/2017/04/21/china-fines-former-exchange-official-36-million-for-ipo-trades
A former Chinese stock market official has been fined US$36m by regulators for illegal stock trading activity.

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20 April 2017 - Deutsche Bank fined US$156.6m for forex violations
Deutsche Bank
Source - http://www.reuters.com/article/us-deutsche-bank-fed-forex-idUSKBN17M2MK
The Federal Reserve has announced two enforcement actions against Deutsche Bank that will require the firm to pay a combined US$156.6m in civil money penalties. The bank will pay a US$136.9m fine for unsafe and unsound practices in the foreign exchange markets, as well as a US$19.7m fine for failure to maintain an adequate Volcker rule compliance programme prior to March 30, 2016.

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19 April 2017 - Ex-Merrill Lynch broker pleads guilty to US$8.7m fraud
Platinum Bank
Source - http://www.investmentnews.com/article/20170419/FREE/170419910/ex-merrill-lynch-broker-pleads-guilty-to-8-7-million-bank-fraud
An ex-Merrill Lynch broker has pleaded guilty to bank fraud in a scheme that went undiscovered for almost 15 years.

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19 April 2017 - Accountant gets 32 months for £200k fraud at LME
London Metal Exchange (LME)
Source - https://www.cchdaily.co.uk/accountant-ps200k-fraud-london-metal-exchange
A former head of the accounting department at the London Metal Exchange (LME) has been jailed for 32 months for committing £200,000 worth of fraud.

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19 April 2017 - Bomb explodes outside bank in Athens
Eurobank EFG
Source - http://greece.greekreporter.com/2017/04/19/time-bomb-explodes-outside-bank-in-athens-center/
An explosion occurred last night at 10.38pm outside an Athens branch of Eurobank, Reuters reports.

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19 April 2017 - UBS penalised for sitting on price-sensitive information
UBS
Source - http://www.cityam.com/263144/ubs-penalised-regulators-waiting-until-morning-release
UBS has been fined by the Swiss stock exchange (Six) for failing to share price-sensitive information with the market in 2012.

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18 April 2017 - Raymond James to pay US$150m settlement in ski resort lawsuit
Raymond James Financial Inc.
Source - https://www.financial-planning.com/news/raymond-james-pays-150m-to-settle-ski-resort-lawsuit-alleging-fraud
Wealth management firm Raymond James will pay US$150m to draw a line under allegations it enabled a fraudulent scheme via a Vermont ski resort and a number of other, related businesses.

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18 April 2017 - Swift and EastNets deny hacker claims
EastNets
Source - https://www.finextra.com/newsarticle/30437/swift-and-eastnets-deny-hacker-claims-that-nsa-infiltrated-back-door-to-spy-on-mid-east-banks?utm_medium=dailynewsletter&utm_source=2017-4-19
Swift and EastNets have denied reports their networks were compromised by the US National Security Agency (NSA).

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18 April 2017 - Simple bank forced to ask customers to close and reapply for accounts
Simple Finance Technology Corp.
Source - https://www.finextra.com/newsarticle/30439/simple-bungles-customer-account-transition-to-bbva?utm_medium=dailynewsletter&utm_source=2017-4-19
US digital bank Simple has been forced to ask customers to reapply for their accounts due to a “clumsy” transition over to its new owner, BBVA Compass.

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17 April 2017 - Brazil's Odebrecht fined US$2.6bn for corruption
Odebrecht SA
Source - http://www.bbc.com/news/world-latin-america-39624421
Brazilian engineering firm Odebrecht has been fined US$2.6bn for corruption involving scandal-ridden state oil company, Petrobras.

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16 April 2017 - Hackers stole US$171m from Union Bank of India last year
Union Bank of India
Source - http://www.outlookindia.com/website/story/how-hackers-stole-over-rs-1000-crore-from-union-bank-of-india-and-govt-got-it-ba/298554
According to local newspaper reports, the Union Bank of India was victim of a major cyber heist last year, which saw US$171m of funds go missing.

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12 April 2017 - SFC reprimands and fines iSTAR International Futures
Rifa Futures (previously iSTAR International Futures)
Source - http://www.scmp.com/business/banking-finance/article/2087117/sfc-fines-istar-international-futures-hk3m-breaching-anti
The Securities and Futures Commission (SFC) of Hong Kong has reprimanded iSTAR International Futures Co. Limited, now known as Rifa Futures Limited (Rifa), and fined it HK$3m for failures to comply with anti-money laundering regulatory requirements when processing third-party fund transfers.

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12 April 2017 - Morgan Stanley settles sales contest probe with $1m payout
Morgan Stanley
Source - http://nypost.com/2017/04/12/morgan-stanley-settles-sales-contest-probe-with-1m-payout/
The New York Post reports that Morgan Stanley has settled a sales contest probe from securities regulators with a US$1m pay out.

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11 April 2017 - Four more banks named in bond price-fixing lawsuit
BNP Paribas
Source - http://uk.reuters.com/article/uk-banks-bonds-lawsuit-idUKKBN17D2KD
Four more banks have been named as defendants by a group of investors suing for alleged bond price fixing.

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11 April 2017 - Coutts fined for breaching anti-money laundering rules in Hong Kong
Coutts and Co
Source - http://www.reuters.com/article/hongkong-coutts-regulator-idUSL3N1HJ3OB?rpc=401&
The Monetary Authority (MA) of Hong Kong has reprimanded and fined Coutts’ Hong Kong branch HK$7m for breaching anti-money laundering and counter-terrorist financing rules.

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10 April 2017 - Wonga hit by data breach
Wonga.com
Source - https://www.finextra.com/newsarticle/30411/payday-loan-firm-hit-by-data-breach?utm_medium=newsflash&utm_source=2017-4-10
Payday loan firm Wonga has warned customers they may have been affected by a data breach.

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10 April 2017 - Recording implicates Bank of England in Libor rigging scandal
Bank of England
Source - https://sputniknews.com/europe/201704101052486325-uk-boe-libor-rigging/
A secret recording uncovered by the BBC Panorama programme has implicated senior Barclay’s Bank executives and the Bank of England in the Libor scandal.

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06 April 2017 - Ex-Barclays traders cleared for Libor rigging allegations
Barclays Bank
Source - http://www.belfasttelegraph.co.uk/business/news/exbarclays-bankers-cleared-over-libor-rigging-allegations-35600022.html
Two former Barclays employees have been cleared of allegations they plotted to rig Libor, in a case brought by the Serious Fraud Office (SFO).

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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.