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SAC’s Steinberg gets 3-1/2 years prison for insider trading
(Reuters) – Michael Steinberg, a portfolio manager at Steven A. Cohen’s SAC Capital Advisors hedge fund, was sentenced on Friday to 3-1/2 years in prison for insider trading. The sentence was imposed...
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India: ML through trade, now real estate
It looks like India is trying to catch up with the rest of the world on money laundering methods. Last week we saw the emergence of news stories linking trade to money laundering; the anti-money...
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The financial services industry is one of Europe’s greatest assets? Brussels,...
Last week, the European Commission (EC) slapped itself on the back a few times, with a congratulatory speech about all the things it has done since 2008 to repair the immense damage done to the economy...
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Exclusive: FinCEN went after MSB heads, caught a compliance head
Read this excellent article from Brett Wolf, renowned AML journalist. In bid to punish individual, FinCEN pursued MoneyGram business leaders, but caught compliance chief – source NEW YORK, May 20, 2014...
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Insider trading: MAS takes action against former Maybank employee for insider...
SINGAPORE — The Monetary Authority of Singapore (MAS) has taken civil penalty action against a man for insider trading. Koh Huat Heng was a relationship manager and a team head in the Affluent Banking...
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Planned changes to UAE regulations
The days of transactional financial advice with a one-size-fits-all approach will soon be consigned to history James Thomas, ACUMA — Independent Financial Advice Regulation — hardly the most emotive...
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Thailand: AMLO publishes list of rogue bank accounts
Thailand may be in the midst of political turmoil but the Anti-Money Laundering Office is still on track. The AMLO scored a victory yesterday in publishing details of more than 200 suspicious bank...
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Hong Kong’s wealth industry to focus on compliance and ethics
Hong Kong Imagine the scenario. Sandy, a relationship manager with a private wealth company in Hong Kong has hit only 50 per cent of her quarterly sales target. In the cut-throat world of trickle down...
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The banking sector is still rewarding poor conduct
Senator Elizabeth Warren tore into Federal Reserve officials this week for not jailing a single banking executive in relation to their role in the collapse of the banking system. Senator Warren is...
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Compliance Carols
This is the time of year to roll out the platitudes and look back over the past 12 months, at the high points and low points and this blog is no exception. 2014 has been a great year for compliance,...
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