Certifications are not the sexiest feature of compliance programs. However, they can and should play an important role in every program. This post will briefly review some of the key aspects of compliance certifications, including the related topic of honesty pledges.… Continue Reading
Posts Tagged: Morgan Stanley
Employer: Morgan Stanley
Location: New York, NY USA
Description: Global Financial Crimes (GFC) coordinates day-to-day implementation of the Firm’s enterprise-wide financial crime prevention efforts. … Continue Reading
The Financial Industry Regulatory Authority (FINRA) said Wednesday it penalized Morgan Stanley Smith Barney LLC about $13 million for failing to supervise its representatives’ short-term trades of unit investment trusts.
Morgan Stanley will pay a fine of $3.25 million and about $9.78 million in restitution to more than 3,000 affected customers.… Continue Reading
The Financial Industry Regulatory Authority (FINRA) barred a former Morgan Stanley representative for concealing the customers behind around $190 million in Venezuelan bond trades.
John Batista Bocchino hid the customers’ trades from Morgan Stanley by creating hundreds of documents containing false information, including new account forms and trade tickets, FINRA said Thursday.… Continue Reading
There is an evident shift in fraud typologies away from traditional real world frauds, such as card skimming, fraudulent documents, social engineering, etc., toward cyber frauds, such as cyber intrusion, phone cloning, malware and fake apps (mal-apps).… Continue Reading
Regulators charged with enforcing anti-corruption, anti-money laundering, and economic sanctions laws and regulations have turned new attention to the real estate industry, and investigations and enforcement efforts span the globe.
Over recent years, U.S.… Continue Reading
The UK Financial Conduct Authority issued a warning Monday about a cloned firm using Morgan Stanley’s name and London address to take money from victims.
The real firm is Morgan Stanley & Co Ltd.… Continue Reading
HSBC Holdings said in an earnings release Monday that the SEC is investigating the bank’s hiring practices in Asia.
London-based HSBC said it has received various requests for information and is cooperating with the SEC’s investigation.… Continue Reading
Brazil’s antitrust agency opened an investigation into fifteen foreign banks and thirty individuals for allegedly forming a cartel to manipulate exchange rates of local Brazilian reals and foreign currency.
Among the banks under investigation are affiliates of Tokyo-Mitsubishi UFJ, Barclays, Citibank, Credit Suisse, Deutsche Bank, HSBC, JPMorgan Chase, Merrill Lynch, Morgan Stanley, Nomura, Royal Bank of Canada, Royal Bank of Scotland, Standard Chartered, UBS, and Standard Bank (South Africa), according to the release from the agency.… Continue Reading
The Securities and Exchange Commission Tuesday said BNY Mellon agreed to pay $14.8 million to settle charges that it violated the Foreign Corrupt Practices Act by providing valuable student internships to family members of foreign government officials affiliated with a Middle Eastern sovereign wealth fund.… Continue Reading
There were reports last week that the DOJ is hiring a compliance expert. He or she will help evaluate whether to charge corporations that fail to detect and prevent wrongdoing by employees.… Continue Reading
For only the second time in FCPA history, the DOJ Monday made a public announcement that it wouldn’t prosecute a company that cooperated in building a case against a former officer.… Continue Reading