November 2020 Regulatory Updates
Regulatory Actions and Updates from Around the Globe
Enforcement Highlights – November 2020
Hong Kong: The Securities and Futures Commission of Hong Kong fined Credit Suisse Securities $2.1 million for regulatory breaches resulting in failures in its electronic trading systems.
United Kingdom: The Financial Conduct Authority imposed a £3.44 million penalty on TFS-ICAP Ltd, an FX options broker, for communicating misleading information to clients.
USA: The Securities and Exchange Commission of the United States charged Benja Inc., a San Francisco-based e-commerce startup, with defrauding investors, providing forged contracts and bank statements.
USA: The SEC filed actions against three investment advisory firms whose failure to implement written policies and procedures resulted in violations of the Investment Advisers Act in connection with sales of complex exchange-traded products.
Past events: Navigating the Complexities of Beneficial Ownership – The Challenges of UBO Due Diligence
Watch the recording of our most recent webinar breaking down the challenges and solutions to the Ultimate Beneficial Owner due diligence.
Legal Entity Customer Due Diligence
What is a legal entity in terms of compliance? Learn more about how due diligence helps financial institutions understand the relationships, risks, and obligations of a legal entity in our most recent Regtech Glossary post.
learn more
Is your AML compliance too expensive, time-consuming, or ineffective?
iComply enables financial services providers to reduce costs, risk, and complexity and improve staff capacity, effectiveness, and customer experience.
Request a demo today.
Key Considerations for Implementing KYB and KYC Software for Your Business
With businesses facing the ongoing challenge of operating in a digital landscape that welcomes an increasing amount of users (source) each year, the need for robust Know Your Customer (KYC) processes has become integral for security and crime prevention. The Financial...
Ensuring KYC Compliance: Best Practices for the Legal Industry
When we think of Know Your Customer (KYC) and AML protocols, most people tend to associate the terms (and practice) with businesses involved in the financial sector, and for good reason. Banks, digital vendors, and other forms of financial institutions are beholden to...
Simplifying KYC Compliance with iComplyKYC
Today’s business and commerce markets are moving faster than ever, and with a rapidly evolving landscape, knowing that you have the best protocols and tools in place to stay compliant with Know Your Customer (KYC) and Anti-Money Laundering (AML) standards is...
