All articles by Jaclyn Jaeger – Page 55
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Blog
JPMorgan to pay $135M for improper handling of ADRs
The Securities and Exchange Commission on Wednesday announced JPMorgan Chase Bank will pay more than $135 million to settle charges of improper handling of “pre-released” American Depositary Receipts.
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ArticleHow compliance officers can shape enforcement in 2019
Compliance officers and in-house counsel will increasingly be expected to play a leading role in the Justice Department’s efforts to combat fraud in all areas in 2019.
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Article
SEC enforcement priorities for 2019
The Securities and Exchange Commission has set out a demanding enforcement agenda for 2019. At the top of its list: retail investors and cyber-related misconduct.
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Blog
Plantronics announces closure of Polycom FCPA investigation
U.S. communications equipment company Plantronics announced Wednesday that Polycom entered into a settlement with the Securities and Exchange Commission for violations of the Foreign Corrupt Practices Act and will pay $36 million, which will come from an escrow secured by Plantronics as part of its acquisition of Polycom.
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Blog
How Hain Celestial improved its revenue recognition practices
The Hain Celestial Group recently settled charges with the Securities and Exchange Commission resulting from weaknesses in its internal controls. Why the food company was not assessed a monetary penalty is where the compliance lessons lie.
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Blog
BNY Mellon to pay $54M for improper handling of ADRs
The Securities and Exchange Commission on Dec. 17 announced that Bank of New York Mellon will pay more than $54 million to settle charges of improper handling of “pre-released” American Depositary Receipts.
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Blog
UBS Financial Services to pay $14.5M for anti-money laundering failures
UBS Financial Services has been ordered to pay a $14.5 million civil penalty for willful violations of the Bank Secrecy Act, the Financial Crimes Enforcement Network announced on Dec. 17.
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PremiumTop ethics and compliance failures of 2018
The biggest ethics and compliance failures of 2018 feature some big names, such as Wells Fargo, Danske Bank, and Tesla, and highlight some key lessons for compliance officers.
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Blog
Department of Justice investigating Grupo Aval
Grupo Aval recently received an inquiry from the Department of Justice concerning the Ruta del Sol 2 project, a highway project involving Brazilian construction company Odebrecht and one of Grupo Aval’s subsidiaries, Corficolombiana.
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Blog
Bilfinger: Deferred prosecution agreement concludes
A deferred prosecution agreement that Bilfinger entered into with the U.S. Department of Justice in 2013 has concluded, the Germany-based engineering group has announced.
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Blog
Anti-corruption efforts in sports gaining global steam
More than 100 ministers, international sports organizations, and experts from around the world met in London on Dec. 6 to reaffirm their global commitment toward tackling corruption in sport.
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ArticleA country-by-country assessment of bribery risk
The 2018 TRACE Bribery Risk Matrix has the latest business-related bribery risk figures for countries around the world. Compliance practitioners may want to pay close attention to those countries in which they operate.
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Blog
Criminal charges unsealed in Panama Papers leak
U.S. prosecutors this week unsealed an indictment revealing criminal charges brought against four individuals for their alleged roles in a decades-long criminal scheme perpetrated by Panama-headquartered law firm Mossack Fonseca and related entities, the first charges brought in the United States connected to the Panama Papers leak.
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Article
Understanding the ‘revised’ policy on cooperation credit
Compliance officers and legal counsel should be somewhat relieved about newly announced revisions to Department of Justice policy that relaxes previous policy requirements for receiving cooperation credit in corporate misconduct cases.
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Blog
CHS self-reports FCPA investigation
Farm supplies company CHS disclosed in a Dec. 3 securities filing that it has self-reported to the Department of Justice and Securities and Exchange Commission potential violations of the Foreign Corrupt Practices Act.
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Blog
MTS reserves $849M in FCPA case
Russian telecommunications company MTS has set aside 55.8 billion rubles (U.S. $849 million) to resolve a U.S. investigation concerning potential violations of the U.S. Foreign Corrupt Practices Act.
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Blog
Deutsche Bank offers more details on Panama Papers raid
Deutsche Bank has provided more details on a two-day raid, in which German prosecutors searched several Deutsche Bank offices, in connection with the Panama Papers. The case also imparts some important compliance lessons.
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Blog
A look at the Justice Department’s new ‘China Initiative’
The Department of Justice on Nov. 1 announced the creation of a new “China Initiative,” aiming to identify priority Chinese trade theft cases and bring them to an appropriate conclusion quickly and effectively and making the global enforcement landscape all the more challenging for multinational companies.
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Article
Walking the KYC and data protection tightrope
The EU General Data Protection Regulation is stirring the pot for financial institutions in trying to strike a balance between complying with AML laws while ensuring data protection.
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Blog
Vantage Drilling pays $5M, closes FCPA case with SEC
Offshore drilling contractor Vantage Drilling International has concluded a settlement agreement with the Securities and Exchange Commission, in which it has agreed to pay $5 million to resolve a previously disclosed investigation into potential violations of the internal accounting control provisions of the U.S. Foreign Corrupt Practices Act.