FCA fines five banks £1.1 billion for FX failings and announces industry-wide remediation programme
November 12, 2014 - The Financial Conduct Authority (FCA) has imposed fines totalling £1,114,918,000 ($1.7 billion) on five banks for failing to control business practices in their G10 spot foreign exchange (FX) trading operations: Citibank N.A. £225,575,000 ($358 million), HSBC Bank Plc £216,363,000 ($343 million), JPMorgan Chase Bank N.A. £222,166,000 ($352 million), The Royal Bank of Scotland Plc £217,000,000 ($344 million) and UBS AG £233,814,000 ($371 million) ('the Banks').
Ulster Bank fined EUR3.5 million over IT meltdown
November 12, 2014 - The Central Bank of Ireland has slapped a EUR3.5 million fine on Ulster Bank over IT governance failures that resulted in approximately 600,000 customers being deprived of banking services during a month-long period in 2012.
CFTC slaps banks with $1.4 billion penalty over FX benchmark rates manipulation
November 12, 2014 - The U.S. Commodity Futures Trading Commission (CFTC) issued five Orders filing and settling charges against Citibank N.A. (Citibank), HSBC Bank plc (HSBC), JPMorgan Chase Bank N.A. (JPMorgan), The Royal Bank of Scotland plc (RBS) and UBS AG (UBS) (collectively, the Banks) for attempted manipulation of, and for aiding and abetting other banks' attempts to manipulate, global foreign exchange (FX) benchmark rates to benefit the positions of certain traders.
Nyse names Cunningham head of governance services
October 29, 2014 - The New York Stock Exchange announced today that effective immediately, Stacey Cunningham has been named President of NYSE Governance Services, a leading provider of corporate governance, risk, ethics and compliance services for public and privately held companies.
Visa and MasterCard face scrutiny by new UK watchdog
October 14, 2014 - The UK government is planning to put supervision of MasterCard and Visa alongside the country's main interbank payment systems into the hands of a new Payment Systems Regulator (PSR), whose chief remit is to inject more competition into the country's payments industry.
Nyse Regulation selects Cinnober as technology provider
October 7, 2014 - NYSE Group has announced NYSE Regulation will directly perform the market surveillance, investigation and enforcement functions for NYSE Group's three equities exchanges and two options exchanges upon the expiration of the contract with the Financial Industry Regulation Authority (FINRA) on December 31, 2015.
Hawksford Group digitises information governance with OpenText
October 7, 2014 - OpenText™ (NASDAQ: OTEX, TSX: OTC), a global leader in Enterprise Information Management (EIM), today announced that the international, award-winning and independent wealth-structuring company, Hawksford Group, has implemented its EIM strategy to create a seamless, digital process for improving information governance and compliance.
DTCC and FS-ISAC light a beacon in the fight against cyber-invaders
September 25, 2014 - The US Financial Services Information Sharing and Analysis Center (FS-ISAC) and the Depository Trust and Clearing Company (DTCC) have developed a centalised utility for financial firms to post and share information related to cyber-attacks and security threats.
