Deputy Attorney General Rod Rosenstein today signaled that the Department of Justice is reviewing a policy announced under the Obama administration that sought to increase prosecutions of individuals in corporate wrongdoing cases.
Browsing: Professional liability
Chief compliance officers find themselves caught between a rock and a hard place when reporting AML violations.
For compliance and BSA officers, personal liability is something that comes with the job.
The New York State Department of Financial Services today finalized its anti-money laundering rule for financial institutions chartered in the state.
A look at how the Yates Memo holds individuals accountable for corporate wrongdoing.
As data breaches continue to make news and cost banks money, it’s worth remembering that—as with every risk in banking—the final responsibility for addressing cybersecurity risks rests with the board of directors.
Although the ruling is limited to Wisconsin, the decision weakens the personal liability protection of bank officers.
Results from ABA’s 2015 Bank Insurance Survey Report show that bankers expect most of their insurance premiums to remain the same or, in some cases, decrease for the next renewal cycle. Most banks saw estimated premiums rise for cybersecurity, property insurance and financial institution bond policies, among others.
A federal appeals court today issued a mixed decision in the closely watched case of FDIC v. Rippy, which arose from the 2009 failure of a North Carolina community bank.
If the parties do not reach a settlement, the case will return to the lower court for a trial on the issue of the FDIC-R’s claims of ordinary negligence and breach of fiduciary duty against the bank’s officers.