News Headlines | Upcoming Events


News Headlines

Thursday, May 28, 2020 - Finra orders Stifel to pay $3.6 million for violations in sales of unit investment trusts
Stifel Financial Corp. (SFC)
Source - https://www.investmentnews.com/finra-orders-stifel-pay-3-6-million-violations-unit-investment-trusts-193421?NLID=IN-Daily-Pulse&NL_issueDate=20200528&utm_source=IN-Daily-Pulse-20200528&utm_medium=email&utm_campaign=investmentnews&utm_visit=795138
Finra imposed more than $3.6 million in sanctions on Stifel Nicolaus & Co. Inc. Thursday for violations involving the sales of unit investment trusts.

[More]

Wednesday, May 27, 2020 - ASB Securities hit with $80,000 fine for 14-year privacy breach
ASB Bank
Source - https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12335238
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.

[More]

Tuesday, May 26, 2020 - Private equity firm Ares Management LLC charged with compliance failures
Ares Management LLC
Source - https://www.sec.gov/news/press-release/2020-123
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.

[More]

Thursday, May 21, 2020 - Natixis losses on equity derivatives soar to 250 million euros
Natixis
Source - https://www.bnnbloomberg.ca/natixis-losses-on-equity-derivatives-soar-to-250-million-euros-1.1439303
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.

[More]

Wednesday, May 20, 2020 - Finra fines SunTrust for unsuitable ETF sales practices
SunTrust Bank
Source - https://www.advisorhub.com/finra-fines-suntrust-for-unsuitable-etf-sale-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.

[More]

Tuesday, May 19, 2020 - First Data agrees $40m FTC settlement
First Data Corporation
Source - https://www.finextra.com/newsarticle/35858/first-data-agrees-40m-ftc-settlement?utm_medium=newsflash&utm_source=2020-5-19&member=22821
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.

[More]

Tuesday, May 19, 2020 - SFC reprimands and fines Convoy Asset Management Limited $6.4 million for regulatory breaches over bond recommendation
Convoy Asset Management Ltd / 康宏資產管理有限公司
Source - https://www.sfc.hk/edistributionWeb/gateway/TC/news-and-announcements/news/enforcement-news/doc?refNo=20PR47
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.

[More]

Tuesday, May 19, 2020 - Santander agrees to $550 million U.S. settlement over subprime auto loans
Santander
Source - https://uk.reuters.com/article/us-usa-autos-lending/santander-agrees-to-550-million-u-s-settlement-over-subprime-auto-loans-idUKKBN22V2GS
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.

[More]

Tuesday, May 19, 2020 - Nine million EasyJet customer accounts hacked
easyJet (EasyJet plc)
Source - https://www.finextra.com/newsarticle/35853/nine-million-easyjet-customer-accounts-hacked?utm_medium=dailynewsletter&utm_source=2020-5-20&member=22821
Low cost carrier EasyJet has fallen victim to a "sophisticated" cyber attack that lifted the personal details of nine million customers.

[More]

Monday, May 18, 2020 - Signature scandal puts more pressure on AMP's battle-weary management
AMP Limited
Source - https://www.smh.com.au/business/banking-and-finance/signature-scandal-puts-more-pressure-on-amp-s-battle-weary-management-20200515-p54te1.html
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.

[More]

Monday, May 18, 2020 - SFC reprimands and fines Southwest Securities (HK) Brokerage Limited $5 million for breaches of anti-money laundering regulatory requirements
China Southwest Securities / 西南证券
Source - https://www.sfc.hk/edistributionWeb/gateway/TC/news-and-announcements/news/enforcement-news/doc?refNo=20PR45
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.

[More]

Friday, May 15, 2020 - Carillion auditor KPMG faces £250m negligence lawsuit
KPMG
Source - https://www.newcivilengineer.com/latest/carillion-auditor-kpmg-faces-250m-negligence-lawsuit-15-05-2020/
KPMG is facing a £250m lawsuit for alleged negligence in its audits of Carilion before it collapsed in 2018.

[More]

Friday, May 15, 2020 - $10m stolen in cyberattack on Norway’s state investment fund
Norwegian Fund for Developing Countries (Norfund)
Source - https://siliconangle.com/2020/05/14/10m-stolen-cyberattack-norways-state-investment-fund/
Unknown hackers have stolen $10 million from Norfund, Norway’s state investment fund in an operation that spanned several months.

[More]

Wednesday, May 13, 2020 - HSBC lost $200 million in one day when the gold market broke
HSBC
Source - https://www.zerohedge.com/markets/hsbc-lost-200-million-one-day-when-gold-market-broke
Last week, we discovered precisely which bank got hammered by the violent divergence between the spot and future price of gold. As we reported, "HSBC had 15 "back-testing exceptions" in January and March, when the firm was caught out by moves in the prices of precious metals. Europe’s biggest bank said ... problems were caused in part by “delivery disruptions in the gold market” which means that we now know which bank was on the other side of the gold spot-future trade."

[More]

Wednesday, May 13, 2020 - Deutsche Bank criticised in internal N.Y. Fed audit
Deutsche Bank
Source - https://www.nytimes.com/reuters/2020/05/13/business/13reuters-deutsche-bank-fed.html?searchResultPosition=3
Deutsche Bank's regulators in the United States have criticised the German lender in an internal audit for weaknesses in fighting money laundering and in risk management, according to a German newspaper on Wednesday.

[More]

Tuesday, May 12, 2020 - SEC charges Morgan Stanley Smith Barney with providing misleading information to retail clients
Morgan Stanley Smith Barney
Source - https://www.sec.gov/news/press-release/2020-109
The Securities and Exchange Commission today announced that Morgan Stanley Smith Barney LLC (MSSB) has agreed to settle charges that it provided misleading information to clients in its retail wrap fee programs regarding trade execution services and transaction costs. MSSB has agreed to pay a $5 million penalty that will be distributed to harmed investors.

[More]

Tuesday, May 12, 2020 - Iron Mountain discloses potential sanctions violations
Iron Mountain Inc.
Source - https://www.wsj.com/articles/iron-mountain-discloses-potential-sanctions-violations-11589324497
Iron Mountain Inc., an information storage and management company, said it notified regulators of potential violations of U.S. sanctions on both Iran and on entities allegedly involved in proliferation or support of weapons of mass destruction.

[More]

Monday, May 11, 2020 - Westpac says 'most' card payments now working, but online banking still offline.
Westpac
Source - https://www.stuff.co.nz/business/121476605/westpac-says-most-card-payments-now-working-but-online-banking-still-offline
Westpac said "most" card payments were now working, but online banking services and its contact centre were still not working as a result of a "wide-spread" systems failure.

[More]

Friday, May 8, 2020 - ME Bank's epic PR fail results in policy reversal
ME Bank
Source - https://www.smh.com.au/business/banking-and-finance/me-bank-s-epic-pr-fail-results-in-policy-reversal-20200508-p54r9g.html
If companies want a glimpse at the reputational cost of treating customers poorly, look no further than Members Equity Bank.

[More]

Friday, May 8, 2020 - U.S. regulators started Scotiabank probe before metals closure
Bank of Nova Scotia (Scotiabank)
Source - https://uk.reuters.com/article/us-metals-bank-of-nova-scotia/us-regulators-started-scotiabank-probe-before-metals-closure-filings-idUKKBN22K1Q7
U.S. regulators were investigating Bank of Nova Scotia’s (Scotiabank’s) metals trading activities several months before it told staff it would wind down the unit, according to its most recent earnings report.

[More]


Events

There are no upcoming events.