Financial Regulatory Forum

Not a good start to the year: Goodyear Tire fine and the FCPA lessons

By Guest Contributor
March 3, 2015

By Julie DiMauro, Compliance Complete

NEW YORK, March 3, 2015 (Thomson Reuters Accelus) - The due diligence that companies must perform before acquiring overseas companies and the anti-bribery controls required of foreign subsidiaries came into clear focus this week when the U.S. Securities and Exchange Commission (SEC) sanctioned Goodyear Tire & Rubber Co. $16.2 million for alleged Foreign Corrupt Practices Act (FCPA) violations.

IA Brief: Six steps to address U.S. SEC cybersecurity focus

February 11, 2015

Now that the Securities and Exchange Commission has formally named cybersecurity as a top exam priority, firms must prepare for the impending scrutiny.

Basel committee tightens disclosure requirements for banks

February 6, 2015

In an effort to streamline banks’ regulatory data through increased transparency, and make them more comparable and consistent across the board, the Basel Committee on Banking Supervision has publishedrevised standards on disclosures.

Eight products on FINRA examiners’ watch lists in 2015

By emmanuelolaoye
January 30, 2015

The Financial Industry Regulatory Authority’s 2015 exam priorities letter named eight products that it plans to monitor for risks to investors.

Back-tested performance – often misleading, but not off-limits with precautions

January 29, 2015

(Reporting by Julie DiMauro and Jason Wallace)

In separate actions against a Massachusetts-based exchange-traded funds investment manager, the SEC warned advisers to be careful if they advertise their performance, and to pay particular attention to the distinctions between true actual performance, model performance and back-tested performance.

SEFs 2015 outlook: industry sees more flexible execution rules; harmonization

January 13, 2015

Regulatory efforts to simplify existing swap mandate rules in order to reduce fragmentation between the U.S. and Europe are likely to dominate the focus of participants in the swaps execution facility (SEF) market in 2015.

IA brief: Determine 2015 filing deadlines before it’s too late

December 31, 2014

It’s never too early to start planning for 2015 regulatory filing deadlines. There are deadlines applicable to all registered investment advisers and some that require a firm to determine applicability, usually based on services offered or types of investments managed by the firm.

Reversal of Dodd-Frank swaps rule ignores lessons from financial crisis, ‘London whale’

December 18, 2014

The decision by U.S. Congress last week reverse the so-called swaps ”pushout” rule for certain derivatives contacts will put a greater responsibility on regulators to demonstrate they have effective oversight over bank activities of the sort that played a role in the 2008 financial crisis and ‘London whale’ trading debacle.

U.S. compliance education expands as demand increases – Part Three: other countries

By Guest Contributor
December 8, 2014

By Julie DiMauro, Compliance Complete

NEW YORK, Dec. 8, 2014 (Thomson Reuters Accelus) - As companies spend more on compliance to meet regulatory imperatives on financial crime, data privacy, supply-chain management and others, the focus on compliance officers and their skill set has expanded. But when it comes to formal training programs, countries outside the United States have often led the way.

INTERVIEW: U.S. Fed’s culture focus will take more dialogue with banks – Wells Fargo’s Callahan

December 4, 2014

Patricia Callahan is the Chief Administrative Officer for Wells Fargo, responsible for corporate communication and government relations among her numerous duties. A 36-year veteran of the company, Callahan has served as head of Compliance and Enterprise Risk Management, providing regulatory compliance oversight for the company. She spoke recently with Thomson Reuters about banking culture, what it means for Wells Fargo, and how the Federal Reserve might assess culture in its supervisory review process. (more…)