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The Financial Conduct Authority has fined a U.K. unit of HSBC Holdings 64 million pounds ($85 million) after finding “serious weaknesses” in the automated processes it used to monitor suspicious transactions, the latest example of the watchdog’s increasingly assertive stance against the firms it regulates.
December 17 -
JPMorgan Chase is preparing to pay roughly $200 million to resolve U.S. regulatory investigations into lapses over monitoring employee communications.
December 13 -
Societe Generale Chief Executive Frederic Oudea is taking over the bank’s risk and compliance functions, seeking greater control over management of the bank’s legal affairs after it paid billions of dollars in penalties.
December 10 -
HSBC Holdings, Credit Suisse Group, Barclays and Royal Bank of Scotland Group were fined 344 million euros ($390 million) by the European Commission for their involvement in a foreign-exchange price fixing cartel.
December 2 -
A three-judge panel determined that a lower-court ruling against two law firms specializing in mortgage repair had used the wrong measure to calculate restitution.
July 27 -
A group representing bank directors says the regulator’s sudden attempt to increase penalties by millions of dollars would set a dangerous precedent.
April 29 -
The agency has amassed more in fines than it has returned to wronged customers. With Democrats now in power, some hope the bureau will allocate the unused money more aggressively.
January 25 -
Former CEO John Stumpf agreed to pay a $2.5 million penalty to settle civil charges tied to the bank’s fake-accounts scandal. Former community bank head Carrie Tolstedt did not agree to a settlement and is now facing a lawsuit that alleges she committed fraud.
November 13 -
The company said one of its regulators may impose a civil money penalty related to compliance deficiencies in its advisory business and other areas. The matter echoes a recent fine imposed on Citigroup, one expert says.
November 3 -
Giant banks have racked up more than $4 billion in U.S. penalties in a wave of settlements weeks before the presidential election. That says a lot about an industry that once vowed to behave after the 2008 financial crisis — and about the regulatory risks it sees ahead.
November 3