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Compliance Management Systems Financial Institutions

Troutman Pepper Locke

Enhancing Card Partnerships and Compliance: A Conversation With Matthew Goldman — Payments Pros – The Payments Law Podcast

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In this episode of Payments Pros, Carlin McCrory is joined by Matthew Goldman, founder of Totavi, LLC and publisher of CardsFTW, to discuss operational compliance for card issuers. Their conversation highlights essential...more

GeoDataVision

Importance of Compliance Management in times of transition

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Dean and Len highlight why strong, proactive compliance management is crucial for financial institutions facing regulatory change and emerging risks....more

Hogan Lovells

The Financial Gatekeepers: The new role of financial institutions in upholding financial sanctions

Hogan Lovells on

The long-awaited EU anti-money laundering ("AML") Package came into force in July 2024 and will begin to apply directly to firms in scope ("obliged entities") from 10 July 2027. Regulation (EU) 2024/1624 (the “AML...more

Husch Blackwell LLP

Deadline Ahead: NYDFS Compliance Notifications are due by April 15

Husch Blackwell LLP on

Businesses that are subject to the NYDFS Cybersecurity Regulations have four weeks left to submit their annual notices of compliance or acknowledge their noncompliance. When the regulations were amended in 2023, several of...more

Ankura

Quality Control Unveiled: Insights from Transaction Monitoring

Ankura on

Ensuring high-quality standards in any organization is an essential ingredient that must be rooted within a company’s Quality Management Program (QMP) – a program that creates a framework to ensure quality....more

GeoDataVision

Climate Risk, the emerging risk

GeoDataVision on

This episode of the podcast, focusing on climate risk as an emerging regulatory compliance issue, features a dialogue between Len and Dean. They discuss how climate-related risks, especially in the financial sector, have...more

GeoDataVision

The Coming Perfect Storm

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Podcast #69, "The Coming Perfect Storm," features a discussion between Dean and Len Suzio about new regulatory challenges for the banking sector. Len highlights the implications of two key regulations: Section 1071 of the...more

Ballard Spahr LLP

ICBC Agrees to Two Consent Orders for Alleged BSA/AML Deficiencies and Disclosure of Confidential Supervisory Information

Ballard Spahr LLP on

Recently, the Industrial and Commercial Bank of China Ltd. (“ICBC”) entered into two consent orders. The first consent order is with the New York State Department of Financial Services (the “NYDFS”) for alleged deficiencies...more

Cadwalader, Wickersham & Taft LLP

OCC Issues Its Semiannual Risk Perspective

The Office of the Comptroller of the Currency (“OCC”) issued its Semiannual Risk Perspective for Spring 2022 on June 23. This was the same day the Federal Reserve released the results of its stress test for large bank holding...more

Foodman CPAs & Advisors

Cómo las administraciones tributarias pueden monitorear la capacitación en cumplimiento de FATCA y CRS de las IF

Un nuevo informe de la Organización para la Cooperación y el Desarrollo Económico (OCDE) dice que las administraciones tributarias pueden evaluar el cumplimiento de FATCA y CRS de las instituciones financieras al monitorear...more

Sheppard Mullin Richter & Hampton LLP

CFPB Updates Supervision and Examination Manual, Adds IT Examination

The CFPB updated its Supervision and Examination Manual by adding a new section titled Compliance Management Review – Information Technology. The new examination procedures are meant to assist CFPB examiners when assessing...more

Ballard Spahr LLP

CFPB adds new section on information technology to Supervision and Examination Manual

Ballard Spahr LLP on

The CFPB has added a new section to its Supervision and Examination Manual titled “Compliance Management Review-Information Technology.” The new section supplements the existing section on Compliance Management Review to...more

The Volkov Law Group

FINRA Reminds Broker-Dealers on Importance of Compliance with New AML Rules

The Volkov Law Group on

The new Anti-Money Laundering laws and regulations continue to roll out with new risks, liabilities and compliance requirements.  There is a coming AML enforcement storm, fueled by a new AML whistleblower program that will...more

Jones Day

FinCEN Issues First U.S. Priorities for Anti-Money Laundering and Counter-Terrorism Financing

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On June 30, 2021, FinCEN announced the first set of government-wide AML/CFT Priorities, as required by the Anti-Money Laundering Act of 2020 ("AML Act"). Consistent with the National Strategy for Combating Terrorist and Other...more

K2 Integrity

Using Sanctions Screening and List Management to Support a Stable Sanctions Compliance Framework

K2 Integrity on

A robust sanctions compliance program is a key part of financial crimes compliance programs for financial institutions as well as businesses engaged in global commerce. Failure to establish or effectively implement such a...more

Ballard Spahr LLP

CFPB rescinds 2018 bulletin on supervisory communications and issues replacement bulletin eliminating supervisory recommendations

Ballard Spahr LLP on

In addition to rescinding seven policy statements providing flexibility to companies in meeting certain compliance obligations during the pandemic, the CFPB has also rescinded its 2018 bulletin (2018-01) that announced...more

Burr & Forman

FINRA Warns on Compliance Phishing

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On March 4, FINRA issued a Regulatory Notice warning member firms not to fall for phishing scam preying on compliance fears.  The scam uses a phony email address, supports@finra-online.com, demanding an immediate response to...more

Davis Wright Tremaine LLP

CFPB Issues Guidelines Encouraging Access to Financial Products and Services for Customers with Limited English Proficiency

Approximately 22 percent of U.S. residents over the age of 5 speak a language other than English at home. Of those persons, approximately 37.6 percent have limited English proficiency (LEP), meaning they have a limited...more

Foodman CPAs & Advisors

El Cumplimiento No Debe Estar "Sub-Financiado"

Los profesionales de cumplimiento continúan protegiendo a sus instituciones financieras durante estos tiempos sin precedentes. Se han convertido en una fuente de información regulatoria para las Instituciones Financieras que...more

Mitratech Holdings, Inc

OCC Steps Up Scrutiny of EUCs at Financial Institutions

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EUCs – End User Computing applications – have hit the headlines again, after the US Office of the Comptroller of the Currency (OCC) levied a $400 million fine on an American-based bank. It found issues in the institution’s...more

Foodman CPAs & Advisors

Financial Institutions Can No Longer Afford to Underfund Compliance Hiring and Training

The Covid-19 Pandemic and the accompanying reduction in economic activity has been a rationale for Financial Institutions (FI) to re-analyze their budgets for compliance training and education.  FIs, as well as  businesses in...more

Foodman CPAs & Advisors

Cumplimiento OFAC de las Instituciones Financieras y las Agencias Reguladoras Bancarias

Mientras que la OFAC es responsable de promulgar, desarrollar y administrar sanciones para el Secretario del Tesoro de EE. UU., las agencias reguladoras bancarias cooperan para asegurar el cumplimiento de las instituciones...more

Foodman CPAs & Advisors

Financial Institution OFAC Compliance and Bank Regulatory Agencies

While OFAC is responsible for promulgating, developing, and administering sanctions for the U.S. Secretary of the Treasury, bank regulatory agencies cooperate in ensuring OFAC financial institution compliance.  ...more

Foodman CPAs & Advisors

Oficiales de Cumplimiento y el Creciente Riesgo de la Responsabilidad Personal

El 4 De Febrero De 2020, El Comité De Cumplimiento De El Colegio De Abogados  De La Ciudad De Nueva York Emitió Un Informe Sobre La Responsabilidad De Los Oficiales De Cumplimiento En El Sector Financiero.  ...more

Foodman CPAs & Advisors

Compliance Officers and the Growing Risk of Personal Liability

On February 04, 2020, The New York City Bar Association Compliance Committee Issued A Report On Chief Compliance Officer Liability In The Financial Sector.  ...more

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