BANKING
Citigroup Investigates Bullying Complaint by Senior Banker
A senior IPO banker with Citigroup is being investigated for a bullying and harassment complaint.
The complaint is made alleging at least two incidents abusive behaviour towards subordinates.
BANKING
Open Banking Coming to Canada
An open banking framework is where banks would share customer’s data (with their approval) with third parties via an api connection, usually with third party fintech apps.
With an open banking framework in place, customers can make connections with these third party fintech apps without voiding their digital banking warranty (i.e. sharing their banking details with external parties).
The adoption of open banking in Canada means a foot in the door for competition and new products/services for Canadians.
COMPLIANCE
JP Morgan Hit with Fines
JP Morgan has been hit with a $350m fine for failing with trading compliance.
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