June 2020
Broker-Dealer Exam Program Leader Robert Sollazzo Retiring From SEC After 38 Years
SEC today announced that Robert A. Sollazzo, the longtime leader of the New York Regional Office’s Broker-Dealer Examination Program.
The Adaptability of Stress Testing
The Adaptability of Stress Testing Vice Chair for Supervision Randal K. Quarles At Women in Housing and Finance, Washington, D.C.
Bank of Russia to update pension reserve investment rules
The Bank of Russia is going to amend the requirements for pension reserve investment that will become effective on 1 January 2021.
Wall Street to Open Positive, Global Equities Positive on Hopes of Economic Recovery
The EC is expected to discuss increasing support packages from 750 Billion Euros of debt to 1.1 Trillion Euros from 2021 to 2027 to boost economic recovery.
Federal Court Imposes $1.8m Penalty on One Tech Media Ltd and Permanently Bans Eustace Senese from Managing Corporations and Carrying on Financial Services Businesses
Federal Court Imposes $1.8m Penalty on One Tech Media Ltd and Permanently Bans Eustace Senese from Managing Corporations and Carrying on Financial Services.
Update on APRA’s Westpac Investigation
APRA delegated enforcement powers to the ASIC in connection with the agencies’ investigations arising from AUSTRAC’s proceeding against Westpac Banking.
14 Digital Bank Applicants Eligible for Next Stage of Assessment
MAS announced today that 14 of the 21 digital bank applications have met the eligibility criteria required for the application to be considered.
Dollar Up; Covid-19 Spread Spurs the Long and Winding Road to Recovery
Summary: The US Dollar extended its gains as concerns of a rise in new Covid-19 cases globally and mixed US economic data drove demand for the Greenback.
Insurance Company and Former CFO Charged With Faulty Loss Reserves Disclosures
SEC charged international insurance company AmTrust Financial Services Inc. and its former CFO Ronald E. Pipoly Jr. with faulty loss reserves disclosures.
SEC Names Jennifer S. Leete as Associate Director in Enforcement Division
The Securities and Exchange Commission today announced that Jennifer S. Leete has been named Associate Director in the SEC’s Division of Enforcement.
ASIC Releases Guidance on the Administration of Its Product Intervention Power
Following consultation, ASIC has released a new regulatory guide on the administration of its product intervention power (RG 272).
14 Digital Bank Applicants Eligible for Next Stage of Assessment
MAS announced today that 14 of the 21 digital bank applications have met the eligibility criteria required for the application to be considered.
FCA Fines Commerzbank London £37,805,400 Over Anti-money Laundering Failures
The FCA has today fined Commerzbank AG (London Branch) £37,805,400 for failing to put adequate anti-money laundering (AML) systems and controls in place.
Also filing this week: Rick Steves, Karthik Subramanian and Abdelaziz Fathi.