The US Securities and Exchange Commission (SEC) has announced charges against nine investment advisers and three broker-dealers for failing to keep records of off-channel communications.
Banks are facing significant operational and compliance risks in integrating or adapting to this new financial paradigm. According to Forbes, today’s global cryptocurrency market capitalisation stands at US$3.3tn. Though the crypto markets and DeFi as a whole account for only a fraction of global financial activity compared with traditional banking, the concept of a decentralised financial system that operates outside the realm of banking should still be considered an important – and growing – risk factor for banks.
The Australian Securities and Investments Commission is taking legal action against HSBC Australia for failing to deal with financial scam victims adequately.
CEO of US health insurer UnitedHealthcare has been fatally shot in Manhattan in a targeted attack.
According to the UK Financial Conduct Authority’s (FCA) latest research on consumer attitudes and behaviours towards crypto, 12% of UK adults now own crypto, up from 10% in previous findings.
The UK’s Financial Conduct Authority (FCA) has fined Metro Bank PLC (Metro) £16,675,200 for failing to have the right anti-financial crime measures in place.
Artificial intelligence (AI) has become so ubiquitous, many of us don’t realise we are benefiting from its use every day. In the financial sector, it has helped streamline numerous processes, including fraud prevention measures, customer services, risk management, day-to-day administration and more. But how does the use of AI impact a firm’s green credentials and is there enough clarity from cloud service providers about the environmental impact of their data centres? In our latest free report, we consider how firms might overcome the environmental risks involved with AI and the impact of other energy-intense technologies such as cryptocurrency and Blockchain.
The world is still absorbing the news of Donald Trump being re-elected as president of the United States. But on Wall Street and elsewhere, the effect of this news can already be seen. Markets have reacted favourably to the potential for a more business-friendly approach to regulation. But what could this mean for the safety of the sector in the long-term? We take a look at some of the regulatory changes that are likely on the horizon as Trump takes the helm.
The UK financial regulator has released its findings after looking into the impact the CrowdStrike incident had on operational resilience in the UK financial services sector.
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.
