All articles by Jaclyn Jaeger – Page 26
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ArticleEPA enforcement discretion policy to end next month
The Environmental Protection Agency has revised its temporary—and controversial—enforcement discretion policy regarding environmental legal obligations during the coronavirus pandemic, establishing an end date of Aug. 31.
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ArticleSEC, DOJ close FCPA probes into USANA
Usana Health Sciences disclosed in a regulatory filing that the DOJ and SEC have closed their respective FCPA investigations into the company and will not be filing any charges.
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Supreme Court: CFPB single-director structure unconstitutional
The U.S. Supreme Court ruled the CFPB’s single-director structure violates the separation of powers between the executive and legislative branches and is unconstitutional.
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ArticleTelegram to pay back investors $1.2B for failed ICO
Telegram Group will return more than $1.2 billion in ill-gotten gains to investors and pay an $18.5 million civil penalty to resolve SEC charges that its unregistered offering of digital tokens violated federal securities laws.
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ArticleMexico’s war on corruption an uphill battle for compliance officers
Companies doing business in Mexico face an uphill battle with their anti-corruption compliance efforts as the country’s government struggles to control—and, in many cases, contributes to—its endemic corruption problem.
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ArticleFollowing $107M fine for lax controls, SEB shares AML efforts
Sweden’s financial watchdog was fined SEB $107 million for weak governance practices related to the bank’s anti-money laundering controls in its Baltics subsidiaries.
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ArticleNovartis to pay $347M to resolve FCPA investigations
Novartis will pay nearly $347 million in combined criminal and civil penalty settlements with U.S. authorities to resolve all FCPA investigations into historical conduct by the company and its subsidiaries.
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ArticleVEREIT to pay $8M to settle SEC fraud charges
VEREIT, a publicly traded real estate investment trust, will pay an $8 million penalty to resolve SEC fraud charges over intentionally overstating a key non-GAAP performance metric.
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ArticleFRC to probe EY, PwC audits of London Capital & Finance
The U.K. Financial Reporting Council has commenced three investigations into the audits of collapsed investment firm London Capital & Finance, including audits carried out by Big Four firms EY and PwC.
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ArticleOFAC targets Mexican companies for helping Venezuelan President Maduro evade U.S. sanctions
The U.S. Department of the Treasury’s Office of Foreign Assets Control has blacklisted a network of Mexican individuals and companies said to be helping Venezuelan President Nicolas Maduro evade U.S. sanctions.
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ArticleSwiss AG latest investigating Glencore for corruption
Glencore is under criminal investigation by the Office of the Attorney General of Switzerland over corruption allegations, adding to the growing list of scrutiny the multinational commodity trading and mining company is facing.
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ArticleSupreme Court: SEC can recoup ill-gotten profits, with caveats
The U.S. Supreme Court reaffirmed the SEC’s authority to recoup profits obtained from fraudulent schemes but limited the scope of what can be sought through disgorgement.
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ArticleDeutsche to pay $10.3M for swap data reporting, spoofing practices
Deutsche Bank will pay a total of $10.3 million to resolve two separate CFTC settlements: one for alleged violations of various swap data reporting and other regulatory violations and the other for spoofing practices by two of its traders.
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ArticleFrom financial crisis to coronavirus: Shifting compliance trends in financial services
Keeping up with regulatory change; budget and resource allocation; and data protection issues were cited as the top three compliance challenges in the financial services industry, according to a recent study.
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ArticleFormer Bumble Bee CEO sentenced 40 months for price-fixing
The former CEO and president of Bumble Bee Foods was sentenced to serve 40 months in prison and pay a $100,000 criminal fine for playing a leading role in a three-year antitrust conspiracy to fix prices of canned tuna.
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ArticleFCA fines Commerzbank London $47.4M for AML failures
Commerzbank London will pay a £37.8 million (U.S. $47.4 million) penalty in a settlement with the U.K. Financial Conduct Authority for anti-money laundering systems and controls failures.
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ArticleU.S. regulators boast coordination in addressing coronavirus fraud
Testimony provided by several agencies before a U.S. Senate Judiciary Committee hearing offers valuable insights for chief compliance and risk officers regarding where coronavirus fraud threats may lurk, especially in the financial services and healthcare sectors.
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FRC sanctions KPMG for audit failings of Foresight 4 VCT
The U.K. Financial Reporting Council imposed non-financial sanctions on KPMG related to audit failures concerning the financial statements of investment firm Foresight 4 VCT for fiscal years ending 2013, 2014, and 2015.
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ArticleLRN survey: Values, not policies, drive ethical behavior
Establishing a culture based on values and transparency is more effective at preventing misconduct than a robust set of rules, according to an LRN survey.
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ArticleMerrill Lynch to pay $7.2M to customers overcharged for mutual funds
Merrill Lynch will pay more than $7.2 million in restitution and interest to customers who incurred unnecessary sales charges and paid excess fees in connection with mutual fund transactions, FINRA announced.