Regulatory Compliance for Financial Institutions – Industry News


Why Didn’t IM Compliance Tools Save Banks from Scandal?

With another wave of prosecutions expected from rate-fixing scandals, and much of the evidence pouring forth in incriminating emails and instant messages sent by traders, here’s a question worth considering: why didn’t the compliance tools meant to police chat room discussions help banks stay out of trouble? Most banks archive traders’ instant messages in “write-once, read-many” storage (the Securities and Exchange Commission requires this), where they can be monitored and analyzed by compliance software without tampering. [Read more…]  

Why Your Next Compliance Hire Should Be a Software Programmer

We all know that the regulatory pressure on banks continues to rise. The Banking Compliance Index supports this, and anecdotal evidence is everywhere. In watching many banks wrestle with this reality, I’ve observed that 95% of banking leaders jump to the same conclusion within 15 minutes of thinking through their alternatives. They decide that they’ll need more staff to help them. They’ll need to grow their compliance team to keep up. The effects of this conclusion are evident in the increasingly bright career outlook for compliance officers, who continue to see their salaries rise as it becomes more difficult for banks to find professionals with their skills. [Read more…]  

Compliance and Risk Management Concerns Up Nearly 30% at U.S. Banks and Credit Unions

The concern U.S. banks and credit unions have over managing compliance and risk is up nearly 30 percent from almost two years ago, according to the latest Regulatory & Risk Management Indicator issued today by Wolters Kluwer Financial Services, a comprehensive provider of risk management, compliance, finance and audit solutions and services. [Read more…]  

Banks blame bond volatility on tighter regulation

Wall Street’s biggest banks have placed much of the blame for violent swings in US government bond prices over the past 24 hours on new bank safety regulations that they say have reduced market liquidity. [Read more…]


New Regulations to Discourage Banks From Buying Loss-Absorbing Debt

New international regulations should discourage banks from buying other banks’ loss-absorbing debt so a failure at one won’t spread through the financial system, a senior German central banker said in Washington Tuesday.Andreas Dombret, member of the executive board of the German Bundesbank, made the comments in a speech at the annual meeting of the International Monetary Fund. His comments came as part of a broader push by European and international banking regulators for a new form of bonds that work to prevent another financial crisis similar to the one in 2008. [Read more…]  

How Dodd-Frank Spurs Big Banks To Add Systemic Risks

Federal banking regulations enacted after the financial meltdown in 2008 — combined with “too big to fail” — are leading to one of the fastest and most dramatic consolidations of the lending industry in history, according to new banking industry statistics. Financial industry experts and those in the banking community who track these trends agree that new regulations may be encouraging big lenders to take on the same kinds of systemic risks that the new rules were meant to protect against. [Read more…]  

Banking and Bombs: What the ‘Linde’ Verdict Portends

Things did not go as Arab Bank had hoped. After 10 years of litigation and a five-week trial, a federal jury in Brooklyn took only two days to reach its verdict: Jordan’s Arab Bank PLC is liable to the plaintiffs for providing material support in the form of financial services to Hamas, a U.S. State Department-designated foreign terrorist organization (FTO). The damages phase has yet to be tried, so the bottom line impact on Arab Bank is not yet known. But the verdict in Linde v. Arab Bank, 04-cv-02799 (E.D.N.Y.), should serve as a warning to international financial institutions: The consequences of ineffective monitoring of financial transactions for suspicious activity are potentially dire. [Read more…]

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