Financial Regulatory Forum

Standard Chartered’s AML lapses provide crucial lessons on internal controls

By Guest Contributor
September 9, 2014

By Julie DiMauro, Compliance Complete

NEW YORK, Sept. 9 (Thomson Reuters Accelus) - Standard Chartered Bank’s $300 million penalty from the New York Department of Financial Services (NYDFS) for compliance failings last month highlights the importance of having effective transaction monitoring procedures to meet regulatory requirements, particularly those pertaining to high-risk clients. But what are these transaction monitoring requirements, and who is a high-risk client?

Client funds, net capital among hot topics for SEC 2012 exam program

By Guest Contributor
May 18, 2012

By Nick Paraskeva, Thomson Reuters Accelus contributing author

NEW YORK, May 18 (Thomson Reuters Accelus) –  The SEC has new priorities in its 2012 exam program, including verifying firms’ holding of client funds and their net capital calculations.