Editors

Harry Cassin
Publisher and Editor

Andy Spalding
Senior Editor

Jessica Tillipman
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

Shruti J. Shah
Contributing Editor

Russell A. Stamets
Contributing Editor

Richard Bistrong
Contributing Editor

Eric Carlson
Contributing Editor

Bill Steinman
Contributing Editor

New York regulator fines Barclays $15 million for whistleblower program flaws

Barclays CEO Jes Staley ignored his CCO and GCNew York’s Department of Financial Services fined Barclays Bank PLC and its New York branch $15 million Tuesday because of attempts by the bank’s CEO, Jes Staley, to unmask a whistleblower “in contravention of Barclays’ established whistleblowing policies and procedures.” 

The DFS said it found “shortcomings in governance, controls and corporate culture relating to Barclays’ whistleblowing function.”

Those flaws “permitted a sequence of events that potentially could have had a detrimental impact on the efficacy of Barclays’ whistleblowing program.”

In May this year, UK regulators fined Staley £642,430 (about $871,000) for trying to identify at least one anonymous whistleblower who made allegations about Staley’s role in recruiting another employee.… Continue Reading

New York unveils ‘BitLicense’ framework

Bitcoin image courtesy of Shinji Ikari via YouTubeThe New York State Department of Financial Services (DFS) issued a proposed “BitLicense” regulatory framework for virtual currency businesses Thursday, and is asking for public comments on the plan.Continue Reading

BNP admits guilt, fined $8.9 billion for U.S. sanctions violations

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