The Securities and Exchange Commission (SEC) recently announced that BMO Capital Markets Corp. would pay over $40 million to settle charges related to supervisory lapses. The case centers on misleading sales of mortgage-backed securities, leaving a trail of misinformed investors and a $3 billion problem.
Liquidnet Inc., a key player in alternative trading systems (ATS), finds itself in hot water with the Securities and Exchange Commission (SEC). The company has agreed to a $5 million penalty after being charged with lapses in its safeguards and controls—lapses that, according to the SEC, jeopardized both market integrity and subscriber trust.
For financial institutions, 2025 has started with a sobering reminder that the cost of missteps just got steeper. The Office of the Comptroller of the Currency (OCC) has raised the maximum civil money penalties (CMPs) it can impose, adjusting for inflation as mandated by federal law. These updated limits, effective immediately, apply to violations dating back to November 2, 2015.
In a twist fit for a WWE storyline, Vince McMahon, the once-dominant figure at the helm of World Wrestling Entertainment (WWE), has landed himself in hot water—this time, outside the ring. The Securities and Exchange Commission (SEC) has charged the former WWE CEO with failing to disclose two significant settlement agreements to the company, leading to financial misstatements that echo through WWE’s books like a mistimed body slam.
The insurance industry across the European Union just got a serious regulatory facelift. With new amendments to the Solvency II Directive and the introduction of the Insurance Recovery and Resolution Directive (IRRD), published on January 8, 2025, in the EU’s Official Journal, the rules of the game have shifted. These reforms promise not just a sturdier insurance sector but also a more prepared one—ready to weather crises without leaning on taxpayers to foot the bill.
In a move that could redefine how banks prepare for a greener and more responsible future, the European Banking Authority (EBA) has released its Guidelines on the management of Environmental, Social, and Governance (ESG) risks. Published on January 9, 2025, the 151-page report lays the groundwork for eurozone financial institutions to embed sustainability into their DNA—not just for today but for decades to come.
In a sweeping enforcement action led by a group of state financial regulatory agencies, Bayview Asset Management LLC and three affiliates—Lakeview Loan Servicing, Community Loan Servicing, and Pingora Holdings—will pay a $20 million penalty for deficient cybersecurity practices and non-compliance with state supervisory demands.