Tuesday, 13 August 2013

Too Big to Fail, Too Big to Jail? Fire the CEO

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The Compliance Exchange News AlertAugust 13, 2013

Our client, a top-tier financial services firm seeks a Financial Crime Compliance AVP and Enhanced Due Diligence Analyst who will be responsible for assisting in the management of anti-money laundering (AML), anti-bribery and corruption (ABC) and sanctions risks associated with prospective customers across Corporate and Investment Bank in the Americas region (US, Canada, Mexico and Brazil). They will also advise compliance management on potential client and/or transaction risk by conducting on-demand due diligence research and analysis of information obtained from media and other sources.

 

For more information and to be considered for this role, please get in touch with Jack Kelly - Jkelly@ComplianceSearch.com and feel free to pass the link along to someone else, as well.

 

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It is clearly evident that certain global large banks will not be allowed to fail.

 

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The five-year anniversary of the financial crisis is a bit more than a month away (Lehman weekend!) and for most of the last four years, the story on U.S. regulators has been one of basic ineptitude:

 

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The Financial Stability Board said an extended version of its guidance on the resolution of systemically important banks will apply to non-bank financial institutions, such as Allianz SE and other large insurers.

 

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Toyota Financial Services currently have several open compliance roles. Join a dynamic company known for rapid growth and solid success. Please click on any of the links below for more details

  

Corporate Senior Internal Auditor

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Senior Compliance Administrator - Testing & Monitoring 

 

Bruno Iksil, the former JPMorgan Chase & Co. (JPM) trader whose bets caused more than $6.2 billion in losses last year, is now central to any U.S. charges against his former colleagues.

 

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As federal authorities prepare to charge criminally two former JPMorgan Chase employees suspected of misrepresenting a multibillion-dollar trading loss last year, prosecutors in Manhattan are separately exploring ways to penalize the bank over the trading blowup that has come to be known as the "London Whale."

 

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Pace University and the Association of International Bank Auditors (AIBA) announce a NEW and EXPANDED CCRP® program starting September 5, 2013. This six-month program with 20 three-hour sessions adds two new modules on securities law and consumer protection law. For more information, contact Professor John James, Pace University Graduate Center, One Martine Avenue, Room 520, White Plains, NY 10606,jjames@pace.edu, 203-536-9955  

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The top U.S. derivatives regulator subpoenaed Goldman Sachs Group Inc. (GS) and JPMorgan Chase & Co. (JPM) for documents relating to their warehouses for aluminum and other metals, according to two people with knowledge of the probe.

 

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As usual, it does not pay to be one of the little guys in banking.

 

Things heard in the Goldman Sachs elevators do not stay in the Goldman Sachs elevators.

 

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A federal judge in Florida has thrown out a lawsuit accusing the U.S. Securities and Exchange Commission of negligence for failing to report that the now-imprisoned swindler Allen Stanford was running a $7.2 billion Ponzi scheme.

 

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New York's top banking regulator sent subpoenas to 22 digital-currency companies, including BitInstant LLC and Dwolla Corp., to determine whether new regulations should be adopted to govern the emerging industry, according to a person familiar with the matter.

 

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We are officially uncrunched.

 

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No wonder JPMorgan Chase is too big to fail: It's squeezing at least two very different banks inside one.

 

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