On Jun. 5, 2018, 14 AGs urged CFPB to retain public access to complaint database. Background: Reports CFPB has published a variety of reports analyzing consumer complaints, responses. Since Jul. 2015, began publishing series of monthly complaint reports, with trends. Products, geographic area, comparative reports published using the monthly trend. Some reports required by…
Read more
AUSTRAC CBA $700mn AML Fine
On Jun. 4, AUSTRAC said CBA agreement to pay $700mn for AML. Follows AUSTRAC Dec. 2017 expanded case, 100 further breaches, see #33474. Penalty Agreement Agreement reached between AUSTRAC and the Commonwealth Bank of Australia for $700mn penalty, to resolve proceedings relating to breaches of AML/CTF law. Parties will jointly approach Federal Court, seeking orders…
Read more
SEC Fines 13 PFs for Reporting
On 1 June, SEC charged 13 private fund advisers for filing failures. The SEC announced settled charges against 13 registered investment advisers. For failing to provide required information that the agency uses to monitor risk. Failure to File Form PF Advisers failed to file Form PF annual reports, to notify the funds they advised. On…
Read more