New LinkedIn tool could help advisers with marketing, compliance

by The Compliance Exchange on October 24, 2014

A tool recently introduced by the online professional network LinkedIn could help investment advisers and brokers with both marketing and compliance.

LinkedIn has made it possible for users to download an archive of their data with one click. Information that is exported includes a list of first-degree connections, endorsements, comments made in … Read More »

Analysts question whether LPL is out of the regulatory woods

by The Compliance Exchange on October 24, 2014

Analysts said LPL Financial Holdings Inc. still has plenty of questions hanging over it after cutting its third-quarter earnings forecast by 11 cents a share Tuesday to satisfy regulatory concerns.

LPL now expects its broker dealer, LPL Financial, to incur up to $23 million in charges — $18 million more than … Read More »

Compliance Briefs

by The Compliance Exchange on October 24, 2014

Swiss Banks Letter

Swiss banks seeking to avoid U.S. prosecution by disclosing how they helped Americans evade taxes asked the Justice Department to back off demands that they also cooperate with other nations.

Lawyers representing 73 Swiss banks wrote on Oct. 21 to object to terms of a proposed non-prosecution agreement that spells out how banks … Read More »

Western Union CFO: Compliance Is Key

by The Compliance Exchange on October 24, 2014

Western Union Co.WU +1.17% is the company many people think about when they need to send money abroad. But the pioneer, founded in 1851, is facing new competition from … Read More »

As You Will See From Our “Around the World in Compliance” Articles, Everyone Else Is As Messed-Up and Corrupt As Us

by The Compliance Exchange on October 23, 2014

Here at ComplianceX we tend to focus on compliance and regulatory foibles and disasters in the United States and to a lesser degree our equally scandal-ridden United Kingdom cohorts in debauchery.

Lest, we forget, in this global economy, we should check in with the rest of the world to see what mischief they are … Read More »

Compliance Around The World-India: Reserve Bank Of India Asks Banks To Partially Freeze KYC Non-Compliant Accounts

by The Compliance Exchange on October 23, 2014

reiCustomers, who have not complied with KYC requirements despite repeated reminders, may face trouble with RBI today asking banks to partially freeze and subsequently close such accounts.

“As regards non-compliance of KYC ( Know Your Customer) requirements by the customers despite repeated reminders by banks, it has been decided that banks should impose … Read More »

Compliance Around The World-China: SEC, Big Four Chinese Affiliates Make Progress in Talks Over Documents

by The Compliance Exchange on October 23, 2014

us china flagU.S. regulators and the Chinese affiliates of the Big Four accounting firms are making “progress” in talks to settle their dispute over the regulators’ access to the firms’ audit documents about their Chinese clients, according to a filing this week.

The four firms and the Securities and Exchange Commission’s enforcement division … Read More »

Compliance Around The World-Beijing: Aquino Says Philippines Willing To Help China Seize Illicit Assets Of Fugitives

by The Compliance Exchange on October 23, 2014

President Benigno Aquino said yesterday he would be willing to help Beijing seize illicit assets of Chinese who have fled to the Philippines if any cases were discovered and if Beijing requested cooperation.

The overture to Beijing comes as the two countries remain embroiled in a territorial dispute in the South China Sea.

“Not … Read More »

Compliance Around The World-China: As China’s Corrupt Sell Off Homes, Property Market Tanks

by The Compliance Exchange on October 23, 2014

China is witnessing the steepest decline in property prices since January 2011 with housing prices sliding in 64 out of 70 cities, official auditors have said.

Market sentiment, weakened by high mortgage rates, has been shaken by panic sales by officials worried about anti-corruption investigations, sources have said.

A direct impact of anti-graft investigations … Read More »

Compliance Around The World-UK: Diwali Gift Or Bribe? Companies In A Fix

by The Compliance Exchange on October 23, 2014

Some months ago, the communication department of a multinational bank faced a strange dilemma. The bank planned to distribute some conference-related material on 8GB pen drives but the compliance department had raised a red flag, stating that the rewritable drives could be construed as a bribe.

The incident highlights the dilemma faced by … Read More »



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