An FCA survey of over 1,000 investment banks, brokers and wholesale insurance firms found that the number of allegations of non-financial misconduct reported increased between 2021 and 2023.
Gerald Schvartsman, a businessman who helped take Trump Media public, has been jailed for two years for insider trading charges.
The US Consumer Financial Protection Bureau (CFPB) and the US Justice Department (DOJ) have taken action against mortgage company Fairway Independent for illegal mortgage-lending discrimination
Citigroup has “insufficient compliance risk management skills” and appears to be struggling to recruit and train the right personnel to address its ongoing regulatory issues, according to an internal assessment made by the bank and leaked in part to Reuters.
The Basel Committee on Banking Supervision (BCBS) has published a progress report to the G20 Finance Ministers and Central Bank Governors analysing the 2023 banking crisis.
US Senator Elizabeth Warren has written a letter to a financial regulator asking it to impose growth curbs on Citigroup after a series of regulatory failures at the bank, reports Reuters.
UK Banks will be given new powers to delay and investigate payments that are suspected of being fraudulent, helping to protect consumers against scammers, the Treasury has announced.
The UK’s Financial Conduct Authority (FCA) has fined fintech Starling Bank almost £29m for financial crime failings related to its financial sanctions screening and repeatedly breaching a requirement not to open accounts for high-risk customers.
Many banks are launching financial inclusion programmes to serve unbanked populations, but this comes with its own set of governance and compliance challenges, especially in areas like KYC/AML, fraud prevention and digital literacy. In our latest free report, we take a look at some examples of initiatives already in action and discuss the potential GRC risks involved.
