Compliance Financial News

12.07 / 23:45

SEC CEO Assurant security Silvergate Bank compliance Silvergate Bank Sued for Inadequate Compliance Program

Silvergate Bank has been charged by the Securities and Exchange Commission (SEC) for misleading investors about the effectiveness of its Anti-Money Laundering (AML) compliance program.

12.06 / 12:43

COST Provident Progressive information reports Updates compliance IBBI proposes compliance procedures for IPs, seeks stakeholder feedback

IBBI has proposed changes to the corporate insolvency resolution process (CIRP) forms and compliance framework to reduce compliance burden on insolvency professionals, and sought stakeholders' comments by July 1. These changes will reduce the amount of information and data that insolvency professionals (IPs) need to submit, thereby enhancing efficiency and reducing redundancy.

03.06 / 14:35

COST Provident compliance Fund selectors 'considering walking away' from SDR labels as compliance burden mounts

According to the ESG data provider, fund selectors are «considering walking away from the labels» due to the scale and costs required to comply with the regulation. Asset managers face SDR implementation challenges as deadlines approach One of the biggest challenges has been the need for asset managers to document and evidence in detail their investment policies, according to the firm's managing director Neill Blanks. «No one is finding it plain sailing,» he said, as many asset managers will be forced to hire independent advisers and/or increase their resources to deal with the spe...

03.06 / 05:49

Aware security Align information guidelines Updates Profiles compliance RBI pushes asset reconstruction companies to strengthen KYC compliance

MUMBAI : The Reserve Bank of India (RBI) is intensifying scrutiny on asset reconstruction companies (ARCs), mandating that they classify borrowers by risk profile and verify their KYC (know your customer) data after acquiring bad loans from banks and non-bank financiers. This move aims to bolster fraud detection and anti-money laundering measures, aligning ARCs with the same rigorous standards imposed on banks. According to two ARC executives aware of the development, the RBI has informed ARCs that they need to start verifying the KYC of borrowers even if they are buying from lenders who have those details.

30.05 / 00:35

FIVE CEO Sustainability reports Schools Interviews International compliance regulatory GCCs see regulatory compliance as key for India expansion: Survey

GenAI landscape, navigating complex compliances such as transfer pricing, SEZ (special economic zone), labour and data laws are among key priorities for the global capability centres (GCCs) operating in India, said a Nasscom-KPMG survey report. «81% of respondents mentioned transfer pricing as the top regulatory priority for GCCs in India. More than half of the respondents highlighted SEZ laws and STPI regulations (67%) and labour laws (60%) among key regulatory priorities,» stated the report titled 'GCCs in India: Building resilience for sustainable growth', to be released today.

25.05 / 05:15

markets Platform social prevention Schools compliance Meta submits changes to UK privacy compliance proposals, CMA says

Meta Platforms has offered to limit the use of certain data from all advertisers on its Facebook Marketplace platform, as part of amendments to the proposals accepted by the Competition Market Authority (CMA) in November, the regulator said on Friday.

22.05 / 10:25

Provident information gatherings Investigations compliance Worldcoin Ordered to Cease Operations in Hong Kong Over Privacy Compliance Issues

Hong Kong’s privacy watchdog on Wednesday instructed OpenAI founder Sam Altman’s Worldcoin project to halt all activities in the region. This includes scanning and collecting iris and facial images from the public using iris-scanning devices.

22.05 / 07:03

Citi BLOCK Platform Anthem song Courts Videos compliance Hong Kong will keep watching internet platforms for non-compliance with ban on protest song

Hong Kong’s leader says his government will keep monitoring for any non-compliance with a court order that bans a popular protest song

21.05 / 12:57

UPS Provident information reports Department compliance Income Tax Return Filing: I-T dept rolls out new functionality to improve compliance | Details you need to know

ITR Filing 2024: The Central Board of Direct Taxes (CBDT) has rolled out a new functionality in the Annual Information Statement (AIS) to display the status of information confirmation process in real-time.

16.05 / 16:21

Provident security wellness President information prevention compliance Sebi eases KYC compliance norms for MF investors

The Securities and Exchange Board of India (Sebi) has removed the requirement of linking permanent account number (PAN) with Aadhaar, providing some relief for mutual fund investors to obtain a “KYC-registered” status for mutual fund transactions. However, investors require a “KYC-validated” status, which is only possible after linking PAN with Aadhaar, for unconstrained transactions across all fund houses. A KYC-registered status allows investors to only transact with the fund houses they already have investments with.

15.05 / 12:43

Kucoin Binance security Trade P2P reports compliance KuCoin Halts Naira-Based Peer-to-Peer Trading, Citing Compliance

KuCoin has made the decision to suspend all naira-based peer-to-peer (P2P) trading in response to increased scrutiny from Nigeria’s regulatory authorities.

09.05 / 23:29

Target FIVE Football information reports compliance EU expands AML regulation impacting cryptocurrency compliance

The regulation reports to create enhanced due diligence measures and checks on customer’s identity. Obliged entities, such as banks or cryptocurrency asset managers, have to report any suspicious activities to Financial Intelligence Units (FIUs) or other competent authorities. This is an increased level of due diligence on the cryptocurrency industry.

03.05 / 02:09

UPS Provident Extreme Puzzle Department Relationships compliance How to get sales and compliance on the same page

With all the division and fractious behavior in the world, can’t the legal, compliance and sales teams simply get along?

02.05 / 08:35

BLOCK Bitcoin reports Investigations International compliance Jack Dorsey’s Block’s Crypto Unit Under Investigation Over Compliance Practices: Report

Federal prosecutors have launched an investigation into Block, the financial technology company co-founded by Twitter’s Jack Dorsey. The investigation focuses on alleged compliance lapses at its central units, Square and Cash App.

29.04 / 13:07

markets SEC Google crypto regulation reports guidelines Thailand SEC compliance Thai SEC Warns Crypto Exchanges Against Glamorizing Investments, Emphasizes Advertising Compliance

The Securities and Exchange Commission (SEC) of Thailand is taking measures to protect crypto investors from misleading advertisements.

29.04 / 09:23

UPS Citizens Strategy Experts reports Updates compliance Income Tax Return: How to prepare for hassle-free tax compliance? Here is a 10-point checklist

Tax filing season is coming and just like summer individuals must plan to beat the heat. To avoid last-minute hassles and make sure that tax benefits and claims are correctly reported and documentation is proper, enclosed below is a ten-point checklist.

26.04 / 13:23

Target FIVE Football information reports compliance EU expands AML regulation impacting cryptocurrency compliance

25.04 / 11:59

markets Provident Trade information reports prevention guidelines compliance What are the compliance requirements for a demat account? MintGenie explains

Also Read: Can you open a demat account without a PAN card? MintGenie answers In this article, we delve into the key compliance requirements that investors need to fulfill when opening and maintaining a demat account. These requirements encompass various aspects, including documentation, Know Your Customer (KYC) norms, transaction reporting, and regulatory disclosures.

23.04 / 10:41

SFC Hong Kong Crypto compliance regulatory Hong Kong Officials Recommends Self-Regulatory Committee for Compliance Monitoring in Crypto Industry

The Hong Kong Securities & Futures Professionals Association (HKSFPA) advocated establishing a self-regulatory committee within the city’s crypto firms to enhance compliance monitoring on April 22.

23.04 / 09:21

BLOCK Platform social reports Courts Videos Investigations compliance Brazil judge gives X five days to explain alleged non-compliance with court ruling

X until Friday to explain why it allegedly did not fully comply with earlier rulings ordering the Elon Musk-owned company to block certain accounts. The decision is part of an inquiry opened earlier this month by Justice Alexandre de Moraes into Musk, after the billionaire said he would reactivate accounts on X that the judge had ordered blocked.

17.04 / 12:37

Binance Coindesk Trade OKX Crypto Exchange reports Profiles compliance OKX Sees Departures of Global Government Relations Head, Product Head, and Compliance Head: Report

According to a CoinDesk report, OKX, the world’s second-largest cryptocurrency exchange by trading volume, has lost two of its top executives, Tim Byun and Wei Lan.

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