As financial compliance grows ever more dependent on analytical tools and automated processes, a look at one approach can help illustrate the challenges and the strategies for meeting the demands of a new era.
Financial Regulatory Forum
By Scott McCleskey, Regulatory Intelligence Expert
NEW YORK, Sept. 23, 2015 – The U.S. Justice Department’s initiative to focus on individual culpability in corporate crimes is long overdue and holds the potential, if vigorously pursued, to put teeth into efforts to enforce the law by deterring criminal activity. There are costs and perils to this approach, but the continuing litany of corporate misbehavior despite rising corporate fines suggests that other approaches have been less than effective. (more…)
By Emmanuel Olaoye and Stuart Gittleman, Compliance Complete
NEW YORK, May 29, 2014 (Thomson Reuters Accelus) – The job market for compliance professionals is picking up. But the high fines and complicated investigations financial services firms face as regulators and enforcers sharpen their scrutiny after the 2008 financial crisis have had a limited impact on compensation trends, boutique recruiters and global firms told Compliance Complete.
In bid to punish individual, FinCEN pursued MoneyGram business leaders, but caught compliance chief – source
By Brett Wolf, Compliance Complete
NEW YORK, May 20, 2014 (Thomson Reuters Accelus) – Although investigators with Treasury’s anti-money laundering unit tried to identify a senior business leader at MoneyGram International Inc who could be penalized over the money transfer giant’s admitted compliance failures, available evidence left them only one viable target – the firm’s former chief compliance officer, a former official with firsthand knowledge of the investigation said.
By Henry Engler, Compliance Complete
NEW YORK – May 8, 2014 (Thomson Reuters Accelus) – How much of a role have corporate boards played in rising income inequality in the United States, the UK and elsewhere?
By Bora Yagiz, Compliance Complete
NEW YORK, Mar. 20 (Thomson Reuters Accelus) – The increasingly important role compliance risk management plays in the banking sector is demonstrated in areas ranging from reorganized risk departments to clearer reporting lines and more rewarding career paths, according to a report by the financial consultancy Accenture.