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Financial Services
Editor's Picks
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Businessman fights translations of messages shown to jury at US bribery trial
As a Texas-based Mexican businessman fights to overturn his corruption conviction, a battle has broken out over whether translations of text messages and emails sho... (more story)
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Corsa Coal sales executive found guilty in US bribery trial
A former coal sales executive was found guilty in the US of his role in a scheme to bribe officials of an Egyptian state-owned company for $140 million in contracts.
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US order on chatbot privilege underscores lack of privacy for AI conversations
Criminal defendants can't assume their litigation-related conversations with chatbots will remain confidential, a Tuesday order out of the Southern District of New ... (more story)
Insight View More
The New York Stock Exchange has agreed to pay a $9 million fine to settle US Securities and Exchange Commission charges related to a 2023 technology glitch that disrupted the opening of trading in thousands of... (more story)
Canaccord Genuity failed to maintain an effective anti-money laundering compliance program and didn’t report suspicious activity in over-the-counter trading markets, US regulators said Friday, imposing an $80 ... (more story)
The UK’s Financial Conduct Authority is considering whether firms should be required to prove the competency of staff overseeing AI systems. While existing rules already make firms accountable for AI-driven ou... (more story)
The EU's revamped bank resolution framework was formally agreed to by EU countries on Thursday. The final texts, which are the result of a negotiation between EU countries and the European Parliament, now have... (more story)
A nonpartisan research firm has stepped into a crossfire between some senators and US Securities and Exchange Commission Chair Paul Atkins over the agency’s enforcement data, with information backing up the De... (more story)
The final US Federal Reserve enforcement action against Wells Fargo was lifted after eight years following the San Francisco-based bank's widespread fake accounts scandal. The third-largest US bank by assets “... (more story)
China has developed the country's first homegrown blockchain operating system with a dedicated acceleration chip, marking a significant advance in Beijing's campaign for technological self-reliance in critical... (more story)
Kraken became the first cryptocurrency firm to be granted access to the US Federal Reserve’s payments system, drawing consternation from banking groups. “As we know, the payments landscape is actively evolving... (more story)
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Trump administration officials this week unveiled their upcoming approach to the liquidity squeeze that starved three US banks in the Spring of 2023 — and it’s largely the same policy floated by the Biden admi... (more story)
UK car finance lenders have secured an early concession after the financial sector regulator signalled they could have between three and five months to prepare before reaching out to customers that are due com... (more story)
The inaugural share sale on the UK’s new Pisces private market has been months in the making, but it could help establish a template for interpreting overseas participation and stamp-duty rules. The Financial ... (more story)
Criminal defendants can't assume their litigation-related conversations with chatbots will remain confidential, a Tuesday order out of the Southern District of New York shows. It’s the second reminder this yea... (more story)
The UK's financial regulator is considering a new £10 million wealth threshold to allow high-net-worth individuals to forgo retail investor protections — a move that sparked industry and consumer debate. The f... (more story)
UK financial services’ adoption of AI is already benefitting from stress-testing techniques developed for assessing military uses of AI that can help the financial regulator understand what’s going on under th... (more story)
The issue of reviewing the EU bank capital framework will be raised by some member states during an informal meeting of EU leaders on competitiveness on Feb. 12 at a castle in eastern Belgium. These informal d... (more story)
Resilience, backed up by supervision, is the key to the European banking sector’s competitiveness, Patrick Montagner, a member of the European Central Bank supervisory board, has told MLex, hitting back agains... (more story)