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US Department Of Justice: UniCredit Bank AG Agrees To Plead Guilty For Illegally Processing Transactions In Violation Of Iranian Sanctions, UniCredit Group Banks Agree To Pay Over $1.3 Billion For Violating Sanctions

Date 15/04/2019

UniCredit Bank AG (UCB AG), a financial institution headquartered in Munich, operating under the name HypoVereinsbank, and part of the UniCredit Group has agreed to enter a guilty plea to conspiring to violate the International Emergency Economic Powers Act (IEEPA) and to defraud the United States by processing hundreds of millions of dollars of transactions through the U.S. financial system on behalf of an entity designated as a weapons of mass destruction proliferator and other Iranian entities subject to U.S. economic sanctions.  UniCredit Bank Austria (BA), another financial institution in the UniCredit Group, headquartered in Vienna, Austria, agreed to forfeit $20 million and entered into a non-prosecution agreement to resolve an investigation into its violations of IEEPA.  UniCredit SpA, the parent of both UCB AG and BA, has agreed to ensure that UCB AG and BA’s obligations are fulfilled.

New York Department of Financial Services Fines Unicredit Group $405 Million For Violations Of Sanctions Laws - Bank and Its Affiliates Conducted Billions of Dollars In Illegal And Non-Transparent Payment Transactions To Countries Subject To Embargoes And Other Sanctions, Including Iran, Libya, Myanmar And Sudan - DFS Fine Part Of $1.3 Billion Global Settlement Concluded With Manhattan District Attorney, Department Of Justice, Department Of Treasury, And The New York Branch Of The Federal Reserve

Date 15/04/2019

Acting Financial Services Superintendent Linda A. Lacewell today announced that the New York Department of Financial Services (DFS) has fined UniCredit Group $405 million for violations of sanctions laws that involved billions of dollars in illegal and non-transparent transactions to clients in countries subject to sanctions, including Cuba, Iran, Libya, Myanmar and Sudan.  The $1.3 billion global settlement announced today was reached in conjunction with the Manhattan District Attorney, the U.S. Department of Justice, the U.S. Treasury Department, and the New York branch of the Federal Reserve Bank and stems from an investigation of the companies’ U.S. dollar payment transactions between 2002 and 2011.  Under today’s settlement, UniCredit Group will submit a compliance program, acceptable to DFS, to comply with U.S. and New York sanctions laws and regulations.

Opening Statement Of CFTC Chairman J. Christopher Giancarlo Before The Global Markets Advisory Committee Meeting

Date 15/04/2019

Thank you, Commissioner Stump. 

Good morning, everyone. 

A warm welcome to all of the Global Markets Advisory Committee (GMAC) Committee members, presenters and participants, both here and on the telephone. It is good to have you all with us.

Liquidity In Swiss Shares Peaks On SIX - Record Day Results In Record Week: Over CHF 1 Billion Traded In SwissAtMid, The Leading Non-Displayed Pool Of The Swiss Stock Exchange

Date 15/04/2019

Liquidity in the non-displayed pool of SIX for Swiss equities, SwissAtMid, has reached new heights: in the week from 8 to 12 April 2019, the Swiss stock exchange has recorded a trading volume of over CHF 1 billion. Over half of its participants were active in the pool, executing 34'566 trades in 138 shares, with an average trade size of CHF 31'010.

The MiG Report - TSX, TSX Venture Exchange

Date 15/04/2019

Federal Reserve Fines UniCredit $158 Million For Firm's Unsafe And Unsound Practices Related To Inadequate Sanctions Controls And Supervision Of Subsidiary Banks

Date 15/04/2019

The Federal Reserve Board on Monday announced it has fined UniCredit, S.p.A., a foreign bank operating in the United States and headquartered in Italy, and two of its subsidiaries $158 million for the firm's unsafe and unsound practices related to inadequate sanctions controls and supervision of its subsidiary banks.

Fiserv To Release First Quarter Earnings Results On April 30, 2019

Date 15/04/2019

Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, will announce its first quarter financial results after the close of regular market trading on Tuesday, April 30, 2019.

SEC: Sara Cortes And David Bartels Named Deputy Chief Counsels Of The Division Of Investment Management

Date 15/04/2019

The Securities and Exchange Commission today announced that Sara Cortes and David P. Bartels have been named Deputy Chief Counsels of the Division of Investment Management. As Deputy Chief Counsels, Ms. Cortes and Mr. Bartels will join a leadership team and staff that are responsible for responding to requests for legal and policy guidance, evaluating applications for exemptive relief, coordinating international and legislative technical assistance, and running the division’s enforcement liaison program. Ms. Cortes will oversee the exemptive applications program and Mr. Bartels will oversee the enforcement liaison program. They will share responsibility for staff legal guidance by the Chief Counsel’s Office.

Opening Statement Of CFTC Commissioner Dawn D. Stump Before The Global Markets Advisory Committee Meeting

Date 15/04/2019

Good morning and welcome to the first Global Markets Advisory Committee meeting of 2019.

 I am excited to sponsor the GMAC, and believe that the importance of the Committee in today’s increasingly interconnected marketplace cannot be overstated.  The objectives of the GMAC are many, and include helping the Commission determine how it can avoid unnecessary regulatory or operational impediments to global business while still preserving core protections for customers and other market participants.  Another objective of the GMAC is to assist the Commission in assessing the impact on U.S. markets and firms of the Commission's international efforts and the initiatives of foreign regulators and market authorities.  Given today’s global marketplace and the multinational nature of business, I believe that the reconstitution of the GMAC has come at a critical time.

Kaizen Reporting Wins ‘Best Reporting Platform Or Service’ At Sell-Side Technology Awards

Date 15/04/2019

Leading regulatory reporting firm Kaizen Reporting (Kaizen), developer of the multi-award-winning assurance service, ReportShield™, has won ‘Best Reporting Platform or Service for the Sell-Side’ at the Sell-Side Technology Awards. Hosted and run by WatersTechnology, the awards were set up in order to recognise market-leading technologies and third-party vendors that enable sell-side firms to operate more efficiently and transparently.