All articles by Jaclyn Jaeger – Page 27
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ArticleDanske faces criminal complaint over market abuse violations
Denmark’s financial regulator has filed a criminal complaint against Danske Bank for violating market abuse regulations concerning inadequate market monitoring and opposite trades.
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ArticleFCC seeks record $225M fine for robocall scam
The Federal Communications Commission is seeking a $225 million fine—the largest proposed penalty in its 86-year history—against a health insurance telemarketer for allegedly making approximately one billion illegally spoofed robocalls.
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ArticleA country-by-country analysis of anti-corruption efforts in Latin America
CCOs looking to navigate the fluid corruption risk environment in Latin America will want to review a newly released report on how countries are uncovering, punishing, and deterring corruption—particularly now, amid a pandemic.
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Criminal Division head Benczkowski to depart DOJ
Assistant Attorney General Brian Benczkowski, head of the Justice Department’s Criminal Division, will leave the agency, effective July 3.
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ArticleCFTC awards more than $6M to whistleblower
The Commodity Futures Trading Commission announced a whistleblower award of more than $6 million to a tipster who voluntarily provided original information that led the CFTC to bring a successful enforcement action.
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ArticleKPMG cites internal control weaknesses in BT Group review
KPMG, in conducting an independent review of BT Group, has expressed the telecommunications company “did not maintain effective internal control over financial reporting” following its accounting fraud scandal.
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ArticleEuropol launches new financial and economic crime body
Europol has created the new European Financial and Economic Crime Center, with the aim of enhancing operational support to EU member states and EU bodies in the fields of financial and economic crime.
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HyperBeard to pay $150K for COPPA violations
App developer HyperBeard reached a watered-down $150,000 settlement with the FTC for illegally collecting children’s personal data without adequate disclosure and parental authorization.
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ArticleWhen manufacturing new product lines, be aware of new compliance risks
As companies around the world begin to manufacture products outside their comfort zone to address dire shortages in personal protective equipment amid the pandemic, compliance practitioners are negotiating new risks and challenges.
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Argo Group to pay $900K for failing to fully disclose CEO perks
Argo Group International Holdings must pay a $900,000 civil penalty in a settlement reached with the SEC to resolve charges that it failed to fully disclose perquisites and benefits provided to its former chief executive officer.
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ArticleCFTC stresses clarity in revised civil monetary penalty guidance
The CFTC’s Division of Enforcement issued new civil monetary penalty guidance for the first time since publishing its penalty guidelines in 1994. The update is in line with recent efforts by the DOJ to crack down on commodities fraud.
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ArticleEricsson appoints DOJ-mandated compliance monitor
Ericsson announced the appointment of Andreas Pohlmann as its independent compliance monitor for the next three years in accordance with a deferred prosecution agreement reached with the Department of Justice over FCPA violations.
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ArticleUSBI to pay $16M for breaches of fiduciary duty
U.S. Bancorp Investments, a dually registered investment adviser and broker-dealer, has agreed to pay $16 million to settle SEC charges for breaches of fiduciary duty arising out of its mutual fund share-class selection practices.
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ArticleRevised DOJ compliance guidance highlights risk, training, more
The Department of Justice posted new revisions to its “Evaluation of Corporate Compliance Programs” guidance, directing prosecutors to ask whether compliance is “adequately resourced and empowered to function” effectively, among other changes.
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Wells Fargo appoints new risk leaders, enhances risk model
Still trying to polish its tarnished reputation, Wells Fargo announced the appointment of two new corporate risk leaders and an enhanced organizational structure “designed to provide greater oversight of all risk-taking activities.”
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ArticleInvestigation into EY’s audit of Danske Bank dropped
Denmark’s state prosecutor has dropped its investigation into whether Big Four firm EY violated anti-money laundering laws in connection with its audit of Danske Bank.
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ArticleImagining a utopian food supply chain
If the coronavirus pandemic has taught us anything, it’s that we need a more resilient food supply chain. Jaclyn Jaeger explains what that could look like and how the public and private sector could play their parts.
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ArticleFinCEN advisory details coronavirus risks for financial industry
The Financial Crimes Enforcement Network has issued what it says is the first of several advisories concerning financial crimes related to the COVID-19 pandemic.
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ArticleCoronavirus heightens focus on children’s online privacy compliance
With increased use of remote learning putting children’s online privacy in the spotlight, regulators are stepping up their oversight and responding accordingly.
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ArticleSFO closes bribery investigation into ABB
The U.K. Serious Fraud Office closed its bribery investigation into power and automation technology provider ABB after concluding the case “did not meet the relevant test for prosecution.”