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News Headlines

Wednesday, September 19, 2018 - Danske Bank boss resigns over money laundering scandal
Danske Bank
Source - https://www.occrp.org/en/daily/8597-danske-bank-boss-resigns-over-money-laundering-scandal
Danske Bank’s chief executive Thomas Borgen quit on Wednesday in a money laundering scandal which involved €200 billion flowing through its Estonian branch between 2007 and 2015, most of which was suspicious.

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Tuesday, September 18, 2018 - CFTC orders ICAP to pay $50 million penalty for attempted manipulation of USD ISDAFIX benchmark swap rates
ICAP
Source - http://www.mondovisione.com/media-and-resources/news/cftc-orders-icap-capital-markets-llc-to-pay-50-million-penalty-for-aiding-and-a/
The Commodity Futures Trading Commission (CFTC or Commission) today issued an Order filing and settling charges against ICAP Capital Markets LLC (ICAP), now known as Intercapital Capital Markets LLC (ICAP), for, by and through certain of its brokers, aiding and abetting numerous attempts by several of its bank clients to manipulate the ISDAFIX benchmark, a leading global benchmark referenced in a range of interest rate products, and requiring ICAP to pay a $50 million civil monetary penalty.

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Tuesday, September 18, 2018 - Visa, Mastercard and others to pay $900 million more in amended settlement over card-swipe fees
Visa Inc.
Source - https://www.cnbc.com/2018/09/18/visa-mastercard-and-others-to-pay-900-million-more-in-amended-settlement-over-card-swipe-fees.html
Visa, Mastercard and a few banks that issue credit and debit cards agreed to pay an additional $900 million to settle a class-action lawsuit over card-swipe fees.

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Monday, September 17, 2018 - NatWest Markets settles swaps reporting charges with CFTC
Natwest
Source - https://www.thetradenews.com/natwest-markets-settles-swaps-reporting-charges-cftc/
NatWest Markets has been fined $750,000 by the US derivatives regulator for failures in its reporting of swaps transactions.

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Monday, September 17, 2018 - SunTrust glitch takes down online, mobile service
SunTrust Bank
Source - https://www.americanbanker.com/news/suntrust-glitch-takes-down-online-mobile-service
SunTrust Bank’s online and mobile banking platforms are down due to a system upgrade that went awry, and the regional said it is unclear when customers will be able to access their accounts.

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Friday, September 14, 2018 - U.S. probes Danske Bank over money laundering allegations involving Russia
Danske Bank
Source - https://www.marketwatch.com/story/us-probes-danske-bank-over-money-laundering-allegations-involving-russia-2018-09-14
U.S. law enforcement agencies are probing Denmark’s largest bank over allegations of massive money laundering flows from Russia and former Soviet states, according to a person familiar with the matter and documents reviewed by The Wall Street Journal.

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Friday, September 14, 2018 - SEC charges Citigroup for dark pool misrepresentations
Citigroup
Source - https://www.sec.gov/news/press-release/2018-193
The Securities and Exchange Commission today entered an order finding that Citigroup Global Markets Inc. misled users of a dark pool operated by one of its affiliates.

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Monday, September 10, 2018 - Finra fines Citigroup $100,000 for overcharging clients
Citigroup
Source - http://www.investmentnews.com/article/20180910/FREE/180919994/finra-fines-citigroup-100000-for-overcharging-clients?ite=52561&ito=724&itq=44be0b84-4ed4-4658-b9c6-2e4f77d27e56&itx%5Bidio%5D=8805628
Citigroup Global Markets Inc. has been fined $100,000 by the Financial Industry Regulatory Authority Inc. for failing to properly supervise the sale of mutual funds to certain retirement plan and charitable organization customers.

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Monday, September 10, 2018 - Ladenburg chairman charged with fraud by SEC in penny stock scheme
Ladenburg Thalmann Financial Services Inc.
Source - http://www.investmentnews.com/article/20180910/FREE/180919997/ladenburg-chairman-charged-with-fraud-by-sec-in-penny-stock-scheme?utm_source=BreakingNews-20180910&utm_medium=email&utm_campaign=investmentnews&utm_visit=707484&itx[email]=39633ebdc646192f8fbe
Dr. Phillip Frost, the non-executive chairman and largest shareholder of Ladenburg Thalmann Financial Services Inc. has been charged with fraud by the Securities and Exchange Commission for his involvement in a pump-and-dump, penny stock scheme.

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Saturday, September 8, 2018 - Feds charge a Russian with hack of 80 million JP Morgan customers
Tyurin, Andrei / Тюрин, Андрей
Source - https://motherboard.vice.com/en_us/article/pa8emg/russian-indicted-jp-morgan-chase-hack
The Department of Justice announced the indictment and extradition of a Russian hacker accused of being part of the group who stole around 80 million customers data from JP Morgan Chase in 2014.

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Friday, September 7, 2018 - ING to pay $5 million to settle misconduct charges on NYSE
ING Groep NV
Source - https://www.financemagnates.com/institutional-forex/regulation/ing-to-pay-5-million-to-settle-misconduct-charges-on-nyse/
New York Stock Exchange Regulation (NYSE Regulation), the regulatory body that monitors activity on the NYSE’s markets, announced on Thursday that ING Financial Markets will pay $5 million to settle misconduct charges related to American Depository Receipts (ADRs).

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Thursday, September 6, 2018 - British Airways customer data stolen from its website
British Airways
Source - https://www.theguardian.com/business/2018/sep/06/british-airways-customer-data-stolen-from-its-website
British Airways is investigating the theft of customer data from its website and app over a two-week period and has urged customers affected to contact their banks or credit card providers.

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Wednesday, September 5, 2018 - Westpac accepts $35m fine for loan conduct
Westpac
Source - https://www.news.com.au/finance/business/banking/westpac-accepts-35m-fine-for-loan-conduct/news-story/104d3a50e7ad42f3ad916665031bd503
Westpac agreed to pay a $35 million fine after admitting to wrongly assessing people’s ability to repay mortgages.

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Tuesday, September 4, 2018 - State Farm agrees to pay $250 million, avoids racketeering trial
State Farm Insurance
Source - https://www.insurancejournal.com/news/national/2018/09/04/500127.htm
State Farm agreed to pay $250 million on the brink of a trial to customers who claimed the company tried to rig the Illinois justice system to wipe out a $1 billion jury verdict from 19 years ago.

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Tuesday, September 4, 2018 - ING settles money laundering case with Dutch prosecutors for $900 million
ING Groep NV
Source - https://www.reuters.com/article/ing-groep-settlement-money-laundering/ing-settles-money-laundering-case-with-dutch-prosecutors-for-900-million-idUSL8N1VQ0I2
Dutch prosecutors said on Tuesday they had settled a money laundering case with ING Groep NV for 775 million euros ($900 million).

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Tuesday, September 4, 2018 - TSB boss Paul Pester to step down after IT fiasco
TSB Bank Ltd.
Source - https://www.bbc.co.uk/news/business-45406322
TSB chief Paul Pester is to step down after seven years in charge, in the wake of a major IT failure at the bank.

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Monday, September 3, 2018 - TSB hit by another IT glitch, angering some customers
TSB Bank Ltd.
Source - https://uk.reuters.com/article/uk-britain-tsb-outages/tsb-hit-by-another-it-glitch-angering-some-customers-idUKKCN1LJ1GX
TSB was hit by another technology glitch on Monday, the latest since a botched IT upgrade in April resulted in one of the country’s worst banking outages.

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Monday, September 3, 2018 - Societe Generale to pay €1.2 billion in penalties to US authorities
Société Générale
Source - https://www.financemagnates.com/institutional-forex/regulation/societe-generale-to-pay-e1-2-billion-in-penalties-to-us-authorities/
French multinational bank Societe Generale announced today that it expects to pay €1.2 billion ($1.4 billion) in penalties to United States authorities to settle international sanction violations in the coming weeks.

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Thursday, August 30, 2018 - Air Canada attack exposed 20,000 mobile app users' data
Air Canada
Source - https://www.databreachtoday.com/air-canada-attack-exposed-20000-mobile-app-users-data-a-11441
Air Canada is forcing 1.7 million mobile app accountholders to reset their passwords after it detected unusual login behaviour that it says may have exposed 20,000 accounts, including customers' passport details. But the airline has been forced to battle ongoing technical problems as well as hordes of angry users.

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Wednesday, August 29, 2018 - U.S. CFTC orders BNP Paribas to pay $90 million penalty for rate-rigging
BNP Paribas
Source - https://www.reuters.com/article/us-usa-cftc-bnp-paribas/u-s-cftc-orders-bnp-paribas-to-pay-90-million-penalty-for-rate-rigging-idUSKCN1LE2AS
U.S. federal regulators on Wednesday ordered BNP Paribas to pay a $90 million civil penalty after settling charges against BNP Paribas Securities Corp for attempted manipulation of the ISDAfix benchmark.

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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.