All posts tagged "Citigroup"
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493EuropeFCA Issues Guidance on Brexit Transition Period
During the 11-month transition period, EU law will continue to apply in the UK, including passporting arrangements and consumer rights protections.
January 31, 2020 -
422ChinaTrade Deal to Enable Early Entry of US Firms to China
Under the agreement, the December timeline for China's removal of foreign ownership limits in the securities sector is brought forward to April.
January 16, 2020 -
477ChinaChina to Introduce New Rules for Online-only Banks – Report
The framework will enable foreign banks in China to set up separate digital banking platforms, while also covering existing online-only banks WeBank, MYbank and AiBank.
January 15, 2020 -
627AML / KYCFINRA Fines Five Firms Over Custodial Accounts for Minors
Citigroup, JP Morgan, LPL Financial, Morgan Stanley and Merrill Lynch failed to properly monitor custodial accounts to ensure assets were transferred to beneficiaries once they came of age.
December 30, 2019 -
507AML / KYCBSP Probes Ten Banks Linked to Westpac AML Violations
The banks received funds for their clients through the Bank of the Philippine Islands, which was the local partner of the Westpac money transfer service known as LitePay.
December 20, 2019 -
854AML / KYCCiti Sent 99pc of Westpac Transfers That Breached AUSTRAC Requirements
Citi is not under investigation, though AUSTRAC has criticised the bank for not providing sufficient information about the payments and the source of funds.
December 4, 2019 -
306EnforcementUK Regulator Penalises Citigroup for Reporting Failures
Citi’s UK failings led to “significant errors” in the firms’ returns, preventing the Prudential Regulation Authority from obtaining an accurate picture of its capital or liquidity position.
November 28, 2019 -
556Capital RegulationFSB Adds Toronto Dominion to G-SIBs List
The addition of Toronto Dominion to the list brings the overall number of G-SIBs from 29 to 30. Deutsche Bank was moved to a lower bucket within the list.
November 23, 2019 -
1.5KCapital RegulationChina Further Opens Banking, Insurance Sectors to Foreign FIs
Effective immediately, foreign financial institutions can establish wholly-owned banks in China, which can be operated alongside foreign bank branches and Sino-foreign joint venture banks.
October 17, 2019 -
423ChinaPBOC Reforms Interest Rate Setting Mechanism
The new market-oriented mechanism for calculating the Loan Prime Rate is expected to lower the cost of borrowing nationwide.
August 19, 2019
