Category: Compliance

Regulatory Watch News

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  Deutsche Bank Subsidiary DWS to Pay $25 Million for Anti-Money Laundering Violations and Misstatements Regarding ESG Investments

  SEC

  September 25, 2023

  Washington D.C., Sept. 25, 2023 —

  The Securities and Exchange Commission today charged registered investment adviser DWS Investment Management Americas Inc. (DIMA or DWS), a subsidiary of Deutsche Bank AG, in two separate enforcement actions, one addressing its failure to develop a mutual fund Anti-Money Laundering (AML) program, and the other concerning misstatements regarding its Environmental, Social, and Governance (ESG) investment process. To settle the charges, DIMA agreed to pay a total of $25 million in penalties.

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  Dumb Money: FCA takes new approach to cinema advertising and premieres innovative advert ahead of Hollywood’s chronicle of GameStop saga

  Financial Conduct Authority

  September 25, 2023

  FCA advert references online forum chats to raises awareness of hype in high-risk investments.

  • ‘Dumb Money’ tells the story of the notorious 'David vs. Goliath' battle resulting in huge speculative investments in video game retailer GameStop in early 2021.
  • The FCA’s advert will play during the 'Gold Spot' directly before the main feature, drawing on sensory techniques to pull viewers in with an apparent 'once in a lifetime investment opportunity'.
  • It will be supported by digital screens in cinemas and display banners to encourage better-informed investment decisions as part of the FCA’s InvestSmart campaign.

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  AFP saves mum and dad business from cyber criminals

  Australia Federal Police

  September 25, 2023

  The AFP has returned $45 million to Australian businesses targeted by cyber criminals in the past three years. As the AFP today challenges the incorrect belief that once a person has lost their money to cyber criminals they will never get it back, new case studies will be revealed to show how investigators were able to thwart onshore and offshore cyber criminals from scamming Australian businesses.