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OCC Fines Former Wells Fargo General Counsel $3.5 Million in Settlement

OCC Office of the Comptroller of the Currency Strother

The Office of the Comptroller of the Currency (OCC) today announced it has assessed a $3.5 million penalty against James Strother for his role in Wells Fargo Bank, N.A.'s systemic sales practices misconduct.

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The final countdown: completing sterling LIBOR transition by end-2021

LIBOR

After many years of preparation, 2021 is the critical year for firms to complete their transition away from LIBOR.

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FCA warns consumers of the risks of investments advertising high returns based on cryptoassets

Cryptocurrencies cryptoassets

The FCA is aware that some firms are offering investments in cryptoassets, or lending or investments linked to cryptoassets, that promise high returns. Investing in cryptoassets, or investments and lending linked to them, generally involves taking very high risks

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SEC Charges Deutsche Bank With FCPA Violations Related to Third-Party Intermediaries

Deutsche Bank

SEC charges against Deutsche Bank AG for violations of the Foreign Corrupt Practices Act (FCPA). As part of coordinated resolutions with the SEC and the Department of Justice, Deutsche Bank has agreed to pay more than $120 million,

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ASIC approves variations to the Banking Code

Banking Code ASIC

ASIC has approved variations to the Banking Code of Practice (Code). The variations, as proposed by the Australian Banking Association (ABA), do the following:

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SEC Issues Over $1.1 Million to Multiple Whistleblowers

whistleblowers

Securities and Exchange Commission today announced awards totaling more than $1.1 million to five whistleblowers who provided high-quality information that led to successful enforcement actions.

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Veritas Initiative Addresses Implementation Challenges in the Responsible Use of Artificial Intelligence and Data Analytics

MAS Veritas

Monetary Authority of Singapore (MAS) today announced the successful conclusion of the first phase of the Veritas initiative which saw the development of the fairness assessment methodology in credit risk scoring

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FINRA Orders Worden Capital Management LLC to Pay More than $1.2 Million in Restitution to Customers Whose Accounts Were Excessively Traded

Worden Capital Management LLC excessive trading

FINRA announced that it sanctioned Worden Capital Management LLC (WCM) more than $1.5 million, including approximately $1.2 million in restitution to customers

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SEC Obtains Emergency Asset Freeze Charges Crypto Fund Manager with Fraud

Virgil Capital

SEC announced that it filed an emergency action and obtained an order imposing an asset freeze and other emergency relief against Virgil Capital LLC

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Federal Court Orders North Carolina Man to Pay Over $255,000 in Futures and Forex Fraud Scheme

CFTC The Commodity Futures Trading Commission fraud

CFTC announced that Judge Max O. Cogburn Jr., of the U.S. District Court for the Western District of North Carolina, entered a consent order against Mark N. Pyatt

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