Regulation

The Financial Crimes Enforcement Network proposed standards to determine which companies must report their beneficial owners under a law enacted in January. Banks hope the new requirements will free them of the burden of collecting true-owner information about their customers.

The regulator has a policy that allows it to convert public enforcement actions into informal, nonpublic ones in cases where banks haven't fully met their obligations. Its inspector general says that the practice may give a false impression to customers and investors.

JPMorgan Chase once again stands alone as the world’s most systemically important bank after global financial regulators recommended a higher capital burden for the firm.

No matter the outcome of the confirmation battle over Saule Omarova — the Biden administration nominee for comptroller of the currency whom many bankers view as too liberal — policymakers must still resolve this fundamental question: Are banks public utilities or private companies with special privileges?

The bank was fined $150 million for anti-money-laundering violations because it missed — or ignored — numerous red flags in its dealings with the convicted sex offender. Here's what it should have done differently.

Senior congressional Democrats are concerned that the Financial Crimes Enforcement Network — an arm of the Treasury Department — is dragging its feet on a rulemaking to require corporations to report their beneficial owners.

The European Union plans to soften the blow to banks from new capital rules, arguing that an easier stance ensures lenders can keep funding the economy as it recovers from the shock of the pandemic.

Financial advisors have a variety of objectives in working with their investment-planning clients. But when all is said and done, clients are usually mainly interested in a successful road map to growing and protecting their wealth to and through retirement.

NatWest Group could face a fine of several hundred million pounds from the U.K.’s financial watchdog after pleading guilty to three criminal charges of money laundering.

The companies said they are still waiting for the Federal Reserve to approve the deal, which was announced nearly a year ago and was scheduled to close by Oct. 15. The new deadline is March 1.