The Securities and Exchange Commission (SEC) has charged OTC Link LLC, a New York-based broker-dealer, with failing to file numerous Suspicious Activity Reports (SARs) over a period exceeding three years. The firm has agreed to pay $1.19 million to settle the charges.
The Polish Data Protection Authority (UODO) has levied a substantial fine of approximately $360,000 USD against a major healthcare provider, identified as A. S.A., for multiple violations of the General Data Protection Regulation (GDPR). This decision follows an extensive investigation into a severe data breach that compromised the personal information of around 150,000 individuals, including both patients and employees.
In a major victory for defrauded FTX customers, the Commodity Futures Trading Commission (CFTC) has obtained a historic $12.7 billion judgment against the failed cryptocurrency exchange and its affiliated trading firm Alameda Research.
Banks and investment firms face a multitude of risks - from financial and regulatory to reputational and legal. To address these challenges effectively, institutions must have a comprehensive understanding of not only their internal risks, but also the risks presented by their third-party vendors, suppliers, and clients.
The Federal Reserve has mandated a comprehensive overhaul of compliance and risk management practices at Customers Bancorp, Inc., the parent company of Customers Bank, following the identification of significant deficiencies in the Bank’s anti-money laundering (AML) and Bank Secrecy Act (BSA) compliance. The move comes as the Bank aggressively pursues a digital asset strategy, raising concerns among federal regulators about its preparedness to manage associated risks.
The Securities and Exchange Commission is firmly asserting its authority to require public companies to disclose information about their climate-related risks and greenhouse gas emissions.
The U.S. Department of Justice has reached a settlement with Legends Hospitality Parent Holdings LLC (Legends) following allegations of illegal premerger coordination in connection with its proposed acquisition of ASM Global Inc. (ASM). The settlement, announced on Monday, requires Legends to pay $3.5 million in civil penalties and mandates significant compliance measures to prevent future antitrust violations.