UK FCA Complaints Increase
On Oct. 29, UK FCA released data showing increase in complaints. Data showed increase with over 4 million complaints during the first half of 2018. With firm-specific complaints data, as sortable table: 2018 H1, and downloadble. Level of Complaints Increase shown for 4th successive half year, to record of 4.13mn, at 3,161 firms. Increase of…
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HK SFC Public Fraud Reporting
On Oct. 18, HK SFC issued web page to report corporate fraud. New features on SFC website to encourage public reporting of offences, suspects. Fraud, Misconduct Form located on new reporting corporate fraud and market misconduct webpage. To make easier for public to report suspected corporate fraud, market misconduct. Webpage gives non-exhaustive list of activities to report…
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ESMA Market Abuse FAQs 2018
On Oct. 1, 2018, EU ESMA issued its updated FAQs on the implementation of MAR. New questions on delayed disclosure of inside information under art. 17(5) of MAR. Q5.3 on the elements credit/financial institution should consider in the assessment of the relevant conditions when they plan to delay disclosure of inside information. Answer: it must…
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BaFin Deutsche AML Order
On Sep. 24, BaFin ordered Deutsche Bank to do more on AML/CTF. Announced order re measures to prevent money laundering and terrorist financing. Followed Deusche Bank AML failings, US/UK fines. Order Order was made Sep. 21, 2018 under money laundering act (GwG), section 51(2). In the order made by BaFin, it formally required that Deutsche…
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UK ICO British Airways Breach
On Sep. 7, UK ICO, NCSC update on British Airways data breach. Confirmed British Airways had made them aware of an incident, enquiries ongoing. BA Response CEO Alex Cruz said hackers carried out a sophisticated, malicious, criminal attack. The personal or financial details of customers making bookings were compromised. 380k transactions were affected, but data did…
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