U.S. regulators the SEC and the CFTC are reaffirming their commitment to make their whistleblower systems more accessible to industry participants and financially rewarding. Most recently, the SEC has given a whistleblower an award of more than $700,000 to “a company outsider who conducted a detailed analysis that led to a successful SEC enforcement action,”… Read More >>
Regulators Hit Barclays with $62 Million in Fines
Taken together, Barclays Capital and Barclays Bank will be paying a total of $61,913,453 in penalties to U.S. and U.K. regulators for two past incidents — an inadequate compliance system for wealth management efforts, and a failure to properly protect clients’ custody assets. In the U.S., Barclays Capital is paying a $15 million penalty to… Read More >>
Regulatory Guidelines Combat Social Media Compliance Fears
The financial services industry should thank regulators for establishing the rules of the game for social media compliance because it spurred the enormous adoption of social media strategies, according to a panel of experts and industry insiders at FTF’s Social Media and Compliance (SMAC) in financial services event, which took place in downtown New York… Read More >>
SEC’s CIO to Leave in October
Thomas Bayer, the chief information officer (CIO), is leaving the SEC in October after a four-year tenure marked by “significantly reduced operation and maintenance costs,” say SEC officials. For the moment, there is no immediate replacement for Bayer and it is not known what his next move will be, say sources familiar with the situation…. Read More >>
