GRC News Roundup October 2017


To keep you up to date with all the latest news and events, we have selected the GRC category news highlights from the past month below. Click here to Subscribe to our regular GRC news updates.

7 Nightmares for a Compliance officer (Oct 26th)

This Halloween we ran a Halloween themed post. 7 Nightmares a Compliance Officer might have. You can read the full post here.

FCPA Enforcements pick up in Q3 (Oct 24th)

After a relatively quiet Q2, Q3 saw an increase in FCPA enforcement actions. However, the total number of enforcements for 2017 still remains lower than previous years. The largest FCPA enforcement of the quarter was to Swedish telecommunications company Teli AB for $483 million. (source).

SEC nominees blast FINRA's transparency during hearing (Oct 24th)

The two nominees for the SEC questioned FINRA's transparency and called for its conduct to be reviewed. It is reported that little is known about how the regulator spends the millions it gets in membership fees and how it operates. 

FCA fines Merrill Lynch £34.5 million (Oct 23rd)

The fine was levied as a result of Merrill Lynch's alleged failure to have adequate oversight arrangements and not allocating enough staff to properly meet adequate derivative reporting standards. (source).

UK banks may have links to South African corruption (Oct 19th)

Labour MP Peter Haim suggests that HSBC and Standard Charter may "inadvertently have been conduits" for laundered money linked to the ongoing South African corruption scandal. (source).

New ratings firm to measure banks financial crime vulnerability (Oct 11th)

Sigma Ratings, backed by Massachusetts Institute of Technology announced its first rating on Wednesday, scoring FIMBank PLC of Malta a 7.24 out of 10. The rating is based on a number of factors including internal controls and compliance with AML standards amongst others. (source).

Trump signs ETF Research Bill (Oct 9th)

President Trump signed the Fair Access to Investment Research Act of 2017, into law. The law allows for broker-dealers to publish research reports to clients on exchanged-traded funds. 


Read our GRC News recaps from previous months

September GRC News

August GRC News

July GRC News