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Weekly Roundup: EU Officials Review Banks’ Historical Compliance Failures, UBS Anticipates €100 Million Tax Penalty, and More

EU officials plan to publish a report this summer on the previous failures of Societe Generale, Deutsche Bank and other European lenders to prevent money laundering and other financial crimes, Reuters reported. More UBS is expected to pay €100 million in the coming weeks to settle charges that the Alpine lender helped Italian clients evade taxes, sources told Reuters. More Senior Democratic senators urged the Federal Reserve to investigate whether Deutsche Bank executives violated anti-money laundering rules by allegedly ordering compliance staff not to report multiple suspicious transactions tied to President Donald Trump and his son-in-law Jared Kushner, The New...

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