Compliance News

Wells Fargo’s chief executive to resign immediately in the wake of a scandal over its sales practices

Source: Wells Fargo is investigating how two million accounts were opened without customers’ permission. Last month, it said Mr Stumpf, who was paid $19.3m last year, would not receive a salary during the inquiry. He will be succeeded by the bank’s current president and chief operating officer, Timothy Sloan. The bank’s independent chairman, Stephen Sanger, […] Read More

Senate: Professionals have to study, train before licenses are renewed

Philippine news on CPD requirements for professionals. The bill, approved on final reading, is a response ‘to the standards in the national, regional and international labor markets’ given the envisioned ASEAN economic community MANILA, Philippines – The Senate approved a bill requiring professionals to undergo further formal and informal learning programs before they can renew […] Read More

BNP Paribas sentenced in 8.9$ billion accord over sanctions violations

BNP Paribas SA (BNPP.PA) was sentenced to five years probation by a U.S. judge on Friday in connection with a record $8.9 billion settlement resolving claims that it violated sanctions against Sudan, Cuba and Iran. U.S. District Judge Lorna Schofield in Manhattan formally ordered the French bank to forfeit $8.83 billion and pay a $140 […] Read More

AUSTRAC charges tabcorp with failed anti money laundering compliance

AUSTRAC, the Australia financial intelligence unit is charging Tabcorp with failure to comply with anti-money laundering and counter terrorism financing laws. The penalty placed by the finance body, could see Tabcorp charged with an AUS $17 million fine, for failing to meet Australian anti-money laundering compliance laws and practices. AUSTRAC has stated to Australian media […] Read More

Company fined $605,250. for 8 U.S.C. violations

A company was fined more than $600,000 after the Office of the Chief Administrative Hearing Officer (OCAHO) issued a decision finding the employer liable for more than 800 Form I-9 violations of hiring employees to work in the United States without properly examining and documenting their identity. The decision is at In the decision […] Read More

1 2 All