All articles by Jaclyn Jaeger – Page 50
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Uber discloses its bribery and corruption risk
In its first-ever filing with the SEC, ride-sharing company Uber discussed its bribery and corruption risks, including an ongoing investigation by the Department of Justice into potential violations of the Foreign Corrupt Practices Act.
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GE to pay $1.5B for misrepresentations concerning subprime loans
General Electric will pay a civil penalty of $1.5 billion to resolve claims under the Financial Institutions Reform, Recovery, and Enforcement Act involving subprime residential mortgage loans originated by WMC Mortgage, a GE subsidiary.
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SEC charges former SeaWorld executive with insider trading
The SEC has charged the former general counsel of amusement park company SeaWorld Entertainment for his role in an insider-trading scheme, and it’s not the first time that a SeaWorld executive has been in trouble for misleading investors.
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ArticleStandard Chartered Bank to pay $1.1B for sanctions violations
Standard Chartered Bank, a U.K.-based financial institution, will pay a total of $1.1 billion in a global settlement for sanctions violations.
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SFO Director Lisa Osofsky on fighting corruption
In remarks made on 3 April at the Royal United Services Institute in London, Serious Fraud Office Director Lisa Osofsky discussed the agency’s recent efforts and what she has learned on the job so far.
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ArticleEDPS investigating contractual arrangements concerning software used by EU firms
The European Data Protection Supervisor, which is responsible for enforcing and monitoring EU companies’ compliance with data protection rules, said it is has launched an investigation into the compliance of contractual arrangements between EU institutions and Microsoft.
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ArticleRoadrunner executives charged with accounting fraud
The SEC and the Department of Justice brought civil and criminal charges against three former executives of transportation company Roadrunner Transportation Systems for their alleged role in a complex securities and accounting fraud scheme that resulted in a loss of more than $245 million in shareholder value.
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ArticleSurvey: Companies seek both ‘soft,’ technical skills in compliance hiring
A new survey from Compliance Week and the Seton Hall School of Law gets to the heart of what employers are seeking in a chief compliance officer today.
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Special committee report details governance reforms needed at Nissan
Last year, Japanese automaker Nissan formed a “Special Committee for Improving Governance” after its chairman Carlos Ghosn was arrested for engaging in financial misconduct. On March 27, the special committee published its findings, holding nothing back.
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ArticleFCA regulation now in effect for claims management companies
The U.K. Financial Conduct Authority has issued a reminder for the claims management industry: As of 1 April, all claims management companies in England, Scotland, and Wales will have to demonstrate that they meet and maintain minimum standards set by the FCA.
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ArticleGuarding the gatekeeper
Gatekeepers who have firsthand knowledge of corporate wrongdoing should be entitled to the same legal protections afforded to any other whistleblower.
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ArticleFCA fines Goldman Sachs £34.3M for transaction reporting failures
Compliance officers in the financial services industry can learn a lot from the failings of Goldman Sachs, which was fined £34.3 million (U.S. $45 million) by the U.K. Financial Conduct Authority for failing to provide accurate and timely reporting relating to 220 million transaction reports over a period of a ...
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ArticleAnatomy of a cryptocurrency pyramid scheme
Much has been discussed about the business risks posed by cryptocurrency. Now, risk and compliance professionals have a real-life cryptocurrency pyramid scheme with which to cite.
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ArticleTroika Laundromat reveals the gaps in AML compliance
A recent report from several investigative journalists details the AML scandal behind Troika Dialog, once Russia’s largest private investment bank, and is just one small look into the much bigger problem of corruption across the globe.
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ArticleFresenius Medical Care to pay $231M to resolve FCPA case
German healthcare company Fresenius Medical Care reached a $231 million settlement with U.S. authorities for violations of the Foreign Corrupt Practices Act for participating in various corrupt schemes across multiple countries that went undetected for more than a decade.
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What Swedbank is saying about its multiple investigations
It has been a tumultuous few weeks for Swedbank as it fends off several investigations, including for money laundering and insider trading, resulting in the dismissal of its chief executive officer.
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World Bank Group debars for one year Vietnamese water and sewerage company
The World Bank has imposed a one-year debarment on Vietnamese, state-owned water and sewerage company Vietnam Water and Environment Investment Corporation – JSC.
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A closer look at the revised FCPA Corporate Enforcement Policy
The Department of Justice in recent months has made several notable revisions to its FCPA Corporate Enforcement Policy surrounding M&A, messaging apps, and much more.
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ArticleSEC awards $50M to two whistleblowers
The Securities and Exchange Commission announced awards totaling $50 million to two whistleblowers whose high-quality information assisted the agency in bringing a successful enforcement action.
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Merrill Lynch to pay $8M for improper handling of ADRs
The Securities and Exchange Commission on March 22 announced that Merrill Lynch, Pierce, Fenner & Smith will pay over $8 million to settle charges of improper handling of “pre-released” American Depositary Receipts.