Compliance and legal professionals will remember 2024 as a year of considerable regulatory activity, major developments in technology, and the inevitable, routine mistakes.
Wells Fargo
Enforcement
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Banking Corner: Big tech payment rules, Robinhood's financial advisers, UBS seeks US license
Robinhood plans to build a platform for advisers and clients to view their managed assets from within the Robinhood app itself leads our roundup.
Enforcement
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OCC orders Wells Fargo to overhaul compliance strategies and illicit fund detection
The OCC found the bank's safeguards against money laundering and sanctions violations were lax and imposed detailed compliance program remedies.
Lawsuit claims bank interviewed diverse candidates for jobs that were already filled to burnish its DEI credentials.
A recent FINRA filing indicates that the bank recently terminated some employees for simulating mouse movements at their PCs.
Some employees say working conditions and pay concerns at their branches have made them want to unionize.
A roundup of some notable recent events, particularly the effective date of the SEC's new cybersecurity disclosure rules.
She will pay $3m stemming from her role in allegedly misleading investors about the success of Wells Fargo's community bank.