QuantaVerse Tops Off 2020 Success with Notable List of Financial and Regulatory Technology Awards
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QuantaVerse is Recognized by Two Coveted Industry Awards and Grabs a Spot on the Prestigious RegTech 100 List We d like to extend our gratitude and appreciation to all the organizations that recognized QuantaVerse, said David McLaughlin, CEO and Founder of QuantaVerse. “These awards validate the great work of our employees, the momentum of the category, and our leadership in the space.” WAYNE, Pa. (PRWEB) December 10, 2020
QuantaVerse, which uses AI and machine learning to automate financial crime identification and investigations, was recently recognized with three prestigious financial services and regulatory technology awards. These awards build on the company’s success in 2020 and serve as a testament to its industry leadership. The recognitions include:
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Today, I conclude my four-part exploration of the Vitol Inc. (Vitol) Foreign Corrupt Practices Act (FCPA) enforcement action. Vitol agreed to pay a combined $135 million to resolve matters. Interestingly, also included in the overall settlement was a disgorgement of more than $12.7 million to the Commodity Futures Trading Commission (CFTC) in a related matter and a penalty payment to the CFTC of $16 million related to trading activity. The FCPA component was settled via a Deferred Prosecution Agreement (DPA) and Criminal Information (Information). Today, I want to consider some of the lessons learned from this enforcement action.
TAKEAWAYS
A closely divided Congress will limit financial services legislation but Biden appointees in key regulatory positions will have a large impact on the financial services policy agenda.
The Biden administration is likely to support fintech companies that are developing innovative financial products and services while increasing focus on consumer protection regulatory and enforcement priorities.
Although financial services regulation did not receive significant attention during the 2020 election campaign, President-elect Biden could have a significant impact on policies affecting financial institutions across the landscape. During the campaign, President-elect Biden supported proposals to expand access to banking services and financial products to the underserved and address disparate access to and treatment by the financial system.