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Weekly Roundup: US Regulator Accuses Taiwanese Bank of AML Violations, Swiss Lenders May Combine Compliance Functions, and More

The U.S. Federal Reserve Board issued a cease-and-desist order to Taiwan’s Hua Nan Commercial and its New York branch for allegedly breaching anti-money laundering rules, the Standard reported. More The U.K. government allegedly refused to assist a French money-laundering investigation into U.K. telecoms firm Lycamobile, citing the company’s donations to Great Britain’s ruling Conservative Party and a trust founded by Prince Charles, according to Buzzfeed. More Swiss lenders Credit Suisse and UBS are considering combining some of their back-office functions, including compliance, settlements and trade processing, Bloomberg reported. More Switzerland’s attorney general opened 25 percent more criminal investigations last year...

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