All articles by Jaclyn Jaeger – Page 83
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Navigating anti-competition enforcement globally
Record fines, emerging enforcement priorities, and global collaboration among competition authorities are creating a host of legal and compliance risks for companies trying to navigate the global antitrust enforcement landscape. Jaclyn Jaeger has more.
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Corruption risk is worsening around the world
Transparency International’s 2016 Corruption Perceptions Index points to heightened corruption risk around the world. Jaclyn Jaeger has the results.
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Two former Och-Ziff executives charged with FCPA violations
The Securities and Exchange Commission last week charged two former executives at Och-Ziff Capital Management Group with being the driving forces behind a far-reaching bribery scheme that violated the Foreign Corrupt Practices Act. Jaclyn Jaeger reports.
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New report offers risk profile of ‘supplier employees’
Companies that provide goods and services to a larger company have got some specific ethics challenges of their own, Jaclyn Jaeger writes.
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Identifying inside threats to cyber-security
To better manage and prevent insider-risk exposure, companies still have much to learn both from corporate data breaches of the past and from those that have developed best-in-class insider-threat programs. Jaclyn Jaeger has more.
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Las Vegas Sands pays $7M for FCPA violations
Las Vegas Sands agreed to pay a $6.96 million criminal penalty to resolve the government’s investigation into violations of the Foreign Corrupt Practices Act. This resolution is in addition to the $9 million related civil penalty paid to the SEC in April. Jaclyn Jaeger reports.
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SEC: BlackRock removed whistleblower incentives
Without admitting or denying the findings, asset management BlackRock agreed to pay a $340,000 penalty to settle charges that it improperly used separation agreements in which exiting employees were forced to waive their ability to obtain whistleblower awards. Jaclyn Jaeger reports.
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GM resolves SEC ignition switch investigation
Without admitting or denying any wrongdoing, General Motors has agreed to pay a $1 million civil penalty to resolve charges that deficient internal accounting controls prevented the company from properly assessing the potential impact on its financial statements of a defective ignition switch found in some vehicles. Jaclyn Jaeger reports.
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Orthofix to pay $15M for accounting failures and FCPA violations
Medical-device company Orthofix International has agreed to admit wrongdoing and pay more than $14 million to settle SEC charges that it improperly booked revenue in certain instances and made improper payments to doctors at government-owned hospitals in Brazil in order to increase sales. Jaclyn Jaeger reports.
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Allergan to pay $15M for disclosure failures in wake of hostile takeover bid
Drug company Allergan, headquartered in Dublin, Ireland, has agreed to admit securities law violations and pay a $15 million penalty for disclosure failures in the wake of a hostile takeover bid, the Securities and Exchange Commission announced. Jaclyn Jaeger has more.
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Chilean chemicals and mining company to pay $30.5M in FCPA case
Chilean chemicals and mining company Sociedad Química y Minera de Chile (SQM) agreed to pay a combined $30.5 million in criminal and civil penalties in connection with payments to politically connected individuals in Chile in violation of the Foreign Corrupt Practices Act. Jaclyn Jaeger has more.
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Deutsche Bank, Credit Suisse reach combined $12.5B settlements
Deutsche Bank and Credit Suisse last month agreed to pay a combined $12.5 billion in penalties related to the packaging, securitization, marketing, sale, and issuance of residential mortgage-backed securities, whereas Barclays and several of its U.S. affiliates are battling a civil complaint over similar claims. Jaclyn Jaeger reports.
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McKesson to pay $150M in prescription drug probe
Drug distributor McKesson will pay a record $150 million civil penalty for alleged violations of the Controlled Substances Act, the Justice Department announced today. The settlement also imposes new and enhanced compliance obligations, as well as an independent monitor—the first independent monitor of its kind in a CSA civil penalty ...
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Rolls-Royce responds to $800M global resolution in FCPA case
British engineering company Rolls-Royce has agreed to pay the United States nearly $170 million as part of an $800 million global resolution with U.S., U.K., and Brazilian authorities into a long-running bribery scheme. Jaclyn Jaeger reports.
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SEC oversight in the Digital Age
Big Data is the compliance buzzword of the day, but at the SEC, high technology is both a challenge and an opportunity. Jaclyn Jaeger has more.
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Debating ‘anything of value’ under the FCPA
Are U.S. enforcement agencies interpreting the term “anything of value” under the FCPA too broadly? Jaclyn Jaeger explores both sides of the debate.
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Moody’s to pay $864M arising from conduct leading up to financial crisis
Moody’s Investors Service, Moody’s Analytics, and their parent, Moody’s, have reached a nearly $864 million settlement agreement with the Department of Justice, 21 states, and the District of Columbia to resolve allegations arising from Moody’s role in providing credit ratings for residential mortgage-backed securities and collateralized debt obligations. Jaclyn Jaeger ...
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Morgan Stanley to pay $13M for overbilling clients
The Securities and Exchange Commission today announced that Morgan Stanley Smith Barney has agreed to pay a $13 million penalty to settle charges that it overbilled investment advisory clients due to coding and other billing system errors. The firm also violated the custody rule pertaining to annual surprise examinations. ...
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Zimmer Biomet to pay $30M to resolve FCPA violations
Medical-device maker Zimmer Biomet Holdings has agreed to pay more than $30 million to resolve parallel SEC and Department of Justice investigations into the company’s repeat violations of the Foreign Corrupt Practices Act. Jaclyn Jaeger reports.
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Volkswagen to pay $4.3B in emissions-cheating scandal
Volkswagen will plead guilty and pay a total of $4.3 billion in criminal and civil penalties resulting from the company’s long-running emissions-cheating scandal. In addition, six Volkswagen employees are indicted in connection with the conspiracy. Jaclyn Jaeger reports.