Maria T. Vullo, the former Superintendent of the New York State Department of Financial Services (DFS), is the regulator-in-residence for the FinTech Innovation Lab New York and she will provide strategic counseling and mentorship to the companies in the lab. The lab, founded by Accenture and the Partnership Fund for New York City in 2010, focuses… Read More >>
Standard Chartered Pays $40M Fine via FX Case
The New York Department of Financial Services (DFS) has fined Standard Chartered Bank $40 million for attempting, in the period between 2007 and 2013, to “rig transactions in foreign exchange [FX] markets.” Under the consent order with DFS (the last in a series of consent orders that, DFS says, “follow a detailed investigation of manipulation… Read More >>
Deutsche Bank Settles ‘Improper’ FX Conduct Case
Deutsche Bank AG will pay a fine of $205 million to the New York State Department of Financial Services (DFS) for violations of New York banking law that include “efforts to improperly coordinate trading activity through online chat rooms, improperly sharing confidential customer information, trading aggressively to skew prices, and misleading customers.” The fine and… Read More >>
