Deutsche Bank and Credit Suisse Group struck end-of-year, billion-dollar deals with the Obama administration over cases involving toxic securities and fraud allegations, perhaps signaling the end of the era of Big Settlements. As has been widely reported, Deutsche Bank agreed to a $7.2 billion settlement with U.S. authorities while Credit Suisse is going to pay… Read More >>
Regulatory Limbo Likely as Trump Repeals Dodd-Frank
(In this second installment of a two-part series, FTF News asked the head of a New York-based financial services regulatory consulting company, Mary Kopczynski, CEO of 8of9, and her staff about the new Trump administration and its plans to dismantle the Dodd-Frank financial reform legislation. Answers from her and her team are in the Q&A… Read More >>
FINRA Cracks Down on Deutsche Bank Securities, Scottrade
While alleged acts of fraud by Wall Street firms have gotten the spotlight this year, financial services regulator, the Financial Industry Regulatory Authority (FINRA), is making the point with some firms that they need to maintain high standards for regulatory reporting and for keeping their books and records as specified by industry watchdogs. Most recently,… Read More >>
SEC Proposal Takes on Executive Pay
The SEC is proposing to give investors and others a new way to tell if executives at banks (and other public companies) actually deserve the high salaries, stock options and perks they are getting. However, being able to check executive salaries against new performance metrics and against results within a peer group may not be… Read More >>
Deutsche Bank’s $2.5B Fine Puts Focus Back on Compliance
Despite revealing massive fraud at one of the world’s largest financial institutions, Deutsche Bank’s recent $2.5 billion settlement with regulations could have a silver lining, industry observers say. Deutsche Bank’s fine came at the end of a seven-year probe into manipulation of the London Interbank Offered Rate (Libor) by its traders and exposed widespread fraud… Read More >>
How ‘Eight of Nine’ Makes Regulatory Compliance Fun
Words like whimsical aren’t often used to describe the corporate culture and public branding of financial consultancy firms. A quick glance at 8of9’s website, however, makes clear they’re not your average consultancy. With a graphic of a perky young professional eagerly giving a “thumbs up” accompanied by text advertising 8of9’s “team of nerds” and casual references… Read More >>
