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...Other regulators, including Ofgem, the Financial Conduct Authority and the Prudential Regulation Authority, have internal audit capability requirements, the CIIA said in its letter....
...“There are many successful professionals across the City who are also in positions of trust and this outcome should be a wake-up call to them that trust is there for a reason, it is not there to be abused...
...But lawyers and financial businesses say they cannot afford to wait for the outcome of that lawsuit....
...It also applies to European financial regulators....
...Richard Moriarty, chief executive of the Financial Reporting Council, said on Tuesday that there were “serious gaps” in its regulatory toolkit and asked for more powers to bring it in line with watchdogs...
...Now in a stronger position thanks to the much-changed health of Ireland’s financial sector, they have accused the CBI of being bureaucratic and of taking an overly intrusive, combative approach....
...The landmark lawsuit filed on Thursday in federal court in New Jersey by the US Department of Justice, along with a bipartisan group of 16 state and district attorneys, accuses the group of imposing contractual...
...Jupiter’s compliance department blocked its investment team from holding a cryptocurrency exchange traded product in one of its Irish Ucits funds, highlighting divergent regulatory approaches in the EU....
...The Financial Reporting Council said on Monday that it had imposed the fine on the Big Four firm for failing to meet audit requirements during its review of M&C Saatchi’s accounts for the year to December...
...of the Dodd-Frank regulation....
...The Financial Conduct Authority said on Monday it would “not object” to the creation of bitcoin and ethereum-backed exchange traded notes for professional investors....
...The merger between Virginia-based Capital One and Illinois-based Discover would shake up the US credit card landscape and mark one of the industry’s biggest deals since the 2008 financial crisis....
...In August 2016, Stifel brokers’ compliance departments discovered that the products were being recommended beyond their intended holding period, the order stated....
...Bloomberg reported earlier this month that the Department of Justice is also considering bringing an antitrust action against NAR over broker fees....
...While the results of the sting were shocking, there were no regulations or even ethical rules that clearly require lawyers — or other corporate service providers — to “know their customers”....
...Chemours, which was spun out of Dupont in 2015, said it was examining how working capital was managed, and how that affected financial metrics on which executive bonuses were based....
...Nor will it be able to change the basic financial structure of the game. Lex kicked off here....
...In its defence, Reckitt has argued medical professionals are aware of the increased risk of NEC associated with formula and national clinical guidelines say premature infants should only receive formula...
...The result is a population of low financial literacy depending on regulation that has denied them the help they need....
...The business department did not immediately respond to a request for comment....
...The criticisms of the business department are part of the committee’s report “Who watches the watchdogs?”...
...AI is also being used by banks to support an army of staff assessing potential breaches of anti-money laundering regulations....
...Companies should not face a “one-way ratchet” of ever-increasing regulation, the head of the UK’s accounting watchdog said, as he unveiled a reduced slate of new rules for directors that falls well short...
...Mis-selling scandals by supposedly professional financial advisers abound, especially when the incentives are distortive — just think of the £50bn PPI scandal that led to millions of Britons buying high-commission...
...Speaking with the Financial Times in February, Gensler said the regulation “is primarily about principal trading firms” — typically high-speed groups that buy and sell securities with their own internal...
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