News and commentary about white-collar crime, enforcement, and compliance
Harry Cassin
Publisher and Editor
Andy Spalding
Senior Editor
Jessica Tillipman
Senior Editor
Bill Steinman
Senior Editor
Richard L. Cassin
Editor at Large
Elizabeth K. Spahn
Editor Emeritus
Cody Worthington
Contributing Editor
Julie DiMauro
Contributing Editor
Thomas Fox
Contributing Editor
Marc Alain Bohn
Contributing Editor
Bill Waite
Contributing Editor
Russell A. Stamets
Contributing Editor
Richard Bistrong
Contributing Editor
Eric Carlson
Contributing Editor
In a securities filing this month, Bank of New York Mellon Corp. said it received a subpoena from the SEC asking about job offers to government officials and internships awarded to their family members.… Continue Reading
The Federal Reserve Board said Monday it barred five former private bankers and senior managers of Credit Suisse AG from working in the banking industry.
The five individuals are Markus Walder, Marco Parenti Adami, Susanne Ruegg Meier, Michele Bergantino, and Roger Schaerer.… Continue Reading
The UK Financial Conduct Authority on Wednesday fined Merrill Lynch International £13,285,900 ($19.8 million) for incorrectly reporting 35,034,810 transactions and failing to report another 121,387 transactions between November 2007 and November 2014.… Continue Reading
Bank of New York Mellon Corp. said the SEC has recommended an enforcement action for possible FCPA violations related to the bank’s dealings with sovereign wealth funds.
In an SEC filing Friday, BNY said it received a so-called Wells Notice in the fourth quarter of 2014, and some current and former employees had received the same notice in the third quarter.… Continue Reading
Job Title: Compliance Officer
Job ID: 047423
Employer: Credit Suisse
Location, New York, NY
Description
Work closely with U.S. and Swiss colleagues in developing, administering and testing a U.S. Securities laws compliance program for Swiss private banking business and its branches, Work with action plan owners to track and resolve identified compliance issues, Provide day to day compliance advisory coverage support, Assess and ensure proper registrations for employees when engaging with U.S.… Continue Reading
The U.S. Attorney in Manhattan is investigating Germany’s Commerzbank AG for alleged violations of money-laundering laws, the Wall Street Journal reported Friday.
The story by Chris Matthews said the new investigation could block efforts by Commerzbank, Germany’s second biggest lender, to settle separate allegations that it violated U.S.… Continue Reading
Bank of America Corp’s banking unit agreed to pay $16.6 million to resolve allegations that it processed hundreds of transactions for drug traffickers who are subject to U.S. sanctions, the U.S. Treasury Department said Thursday.… Continue Reading
State and federal authorities have begun settlement talks with Commerzbank AG and Deutsche Bank over their alleged dealings with countries blacklisted by the United States.
The timing of a possible deal could cost the German banks billions in penalties is still unclear, Reuters said.… Continue Reading
Jean-Laurent Bonnafé, Chief Executive Officer of BNP Paribas (Image courtesy of Euro Business Media via YouTube)French banking giant BNP Paribas agreed to plead guilty to criminal charges and pay an $8.9 billion penalty for transferring billions of dollars on behalf of blacklisted Sudan, Iran and Cuba, U.S.… Continue Reading
After a multi-year investigation into Credit Suisse’s use of illegal offshore bank accounts, the DOJ Monday announced the bank’s guilty plea and the largest-ever monetary penalty in a criminal tax case.… Continue Reading
The SEC has expanded its investigation into several large banks’ hiring practices in Asia, requesting more information that could show the firms violated the FCPA by hiring relatives of well-connected officials.… Continue Reading
Credit Suisse agreed last Friday to pay $196.5 million and admit wrongdoing to settle charges that it provided cross-border brokerage and investment advisory services to U.S. clients without first registering with the SEC.… Continue Reading