Category: controls
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Starling Bank fined £29m for ‘shockingly lax’ financial crime controls
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Starling Bank has been fined £29m by the Financial Conduct Authority (FCA) over “shockingly lax” financial crime controls that left the UK financial system exposed to criminals and sanctioned individuals. The Financial Supervision Authority’s investigation revealed that the digital bank failed to design and implement appropriate systems to mitigate the…
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Instagram rolls out teen accounts with privacy, parental controls as scrutiny mounts By Reuters
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(Reuters) – Meta Platforms Inc (NASDAQ:MT) is rolling out improved privacy and parental control features for Instagram accounts for users under 18 in a major overhaul aimed at addressing growing concerns about the negative effects of social media. Meta said Tuesday it will automatically move all custom Instagram accounts to…
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China says “dissatisfied” with new Dutch export controls on ASML chipmaking tools By Reuters
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BEIJING (Reuters) – China is “not satisfied” with the Dutch government’s decision to expand export controls on chipmaking equipment from ASML, the commerce ministry said in a statement on Sunday. The Dutch government said on Friday it will expand export licensing requirements for ASML’s DUV (deep ultraviolet) 1970i and 1980i…
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Super Micro delays annual filing to review internal controls, shares fall By Reuters
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(Reuters) – Super Micro Computer Inc (NASDAQ:SMIC) on Wednesday delayed filing its annual report and said it needed more time to evaluate the “effectiveness of internal controls” over its financial reporting, sending shares of the artificial intelligence server maker down 21%. The move comes a day after Hindenburg Research revealed…
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Elliott builds $1 billion-plus stake in Johnson Controls, Bloomberg reports By Reuters
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(Reuters) – Activist investor Elliott Investment Management has built a position worth more than $1 billion Johnson Controls (NYSE:) International Plc, Bloomberg News reported on Sunday. The Bloomberg report also said that Elliott’s intentions behind the stake in the building solutions provider could not be immediately known. Elliott & Johnson…