The U.K. branch of auditor and accounting firm KPMG is partnering with financial crime, risk and compliance solutions provider Exiger in a bid to streamline regulatory efforts for financial services clients, including sanctions against rogue nations, firms and individuals. KPMG officials say that the exclusive collaboration will involve Exiger’s artificial intelligence (AI) technology and the… Read More >>
Flash Crash Trader Hit with $38M+ in Sanctions
Navinder Singh Sarao, the U.K. resident known as the “Flash Crash Trader,” has been ordered by a U.S. court to pay a $25,743.174.52 civil monetary penalty and $12,871,587.26 in disgorgement for multiple charges of futures market manipulation. Sarao was extradited from the U.K. to the U.S., where he faced criminal charges for the same acts…. Read More >>
Crédit Agricole to Pay $787 Million for Subsidiaries’ Sanctions Violations
The Crédit Agricole Corporate and Investment Bank (CACIB), a subsidiary of Crédit Agricole S.A. (CASA), is facing a combined payment to U.S. authorities of $787.3 million for violations of sanctions prohibiting U.S. dollar transactions as specified by federal and related New York state laws. In addition, CACIB, headquartered in Paris, has agreed to forfeit $312… Read More >>
Getting Ready for SIBOS Fall 2014
The annual SIBOS conference of the SWIFT financial messaging and services cooperative, at the Boston Convention & Exhibition Center from Sept. 29 to Oct. 2, will feature debates, keynote addresses, panel discussions and special interest sessions targeting many issues of concern to financial services firms engaged in post-trade securities operations. There will be chances to… Read More >>
BNP Paribas Group Appoints Head of CIB
BNP Paribas Group has appointed Yann Gérardin to be head of Corporate and Investment Banking (CIB). At the same time, Alain Papiasse, the current deputy chief operating officer (COO) will take on the general management representative role for the North American region of the firm, officials say. High on the agendas for Gérardin and Papiasse… Read More >>
