All articles by Jeff Dale – Page 10
-
News Brief
Smart window-maker View avoids penalty in liability disclosure case
View, a California-based manufacturer of smart windows, avoided civil penalties after self-reporting apparent disclosure violations to the Securities and Exchange Commission.
-
News Brief
CFTC assembles task forces to combat cyber and tech issues, ESG fraud
The Enforcement Division of the Commodity Futures Trading Commission announced it established two new task forces to combat cyberattacks and misuse of technology and environmental fraud.
-
News Brief
Lawsuit: Ex-FTX CCO bribed whistleblowers into silence
The former chief compliance officer at cryptocurrency exchange FTX paid off whistleblowers and their lawyers trying to expose the company’s fraud, according to a lawsuit filed in bankruptcy court by FTX and its debtors.
-
News Brief
ACI Worldwide fined $25M for lax data handling, unauthorized transactions
The Consumer Financial Protection Bureau ordered ACI Worldwide to pay a $25 million fine for improper data handling that led to approximately $2.3 billion in erroneous mortgage payment transactions.
-
News Brief
Treasury report recommends stricter supervision of insurers’ climate risks
The Treasury Department’s Federal Insurance Office issued a report on gaps in how states supervise and assess climate-related risks among insurers.
-
News Brief
Credit Suisse unit to pay $900K over reporting, supervisory lapses
Credit Suisse Securities agreed to pay $900,000 to settle charges levied by the Financial Industry Regulatory Authority regarding reporting and supervision lapses.
-
News Brief
JPMorgan unit fined $4M over record retention violations
JPMorgan Securities agreed to pay $4 million to settle charges levied by the Securities and Exchange Commission regarding record retention violations related to the deletion of approximately 47 million electronic communications.
-
News Brief
SEC bars convicted ex-CCO at investment adviser from industry
The convicted former chief compliance officer at an unnamed New York-based investment adviser was barred from working in the industry by the Securities and Exchange Commission.
-
News Brief
FTC sues Amazon over Prime enrollment, ‘cancellation trickery’
The Federal Trade Commission filed a complaint against e-commerce giant Amazon for allegedly enrolling consumers into Amazon Prime without their consent and making it difficult to cancel Prime subscriptions.
-
News Brief
CFTC wants whistleblowers to help thwart carbon markets fraud
The Commodity Futures Trading Commission issued an alert regarding the identification and reporting of potential fraud or manipulation in carbon markets.
-
News Brief
OFAC orders Swedbank Latvia to pay $3.4M over Crimea sanctions violations
Swedbank Latvia agreed to pay more than $3.4 million to resolve apparent U.S. sanctions violations in the Crimea region of Ukraine, the Office of Foreign Assets Control announced.
-
News Brief
S.C.-based St. Francis to pay $36.5M in false claims settlement
South Carolina-based healthcare system St. Francis agreed to pay $36.5 million as part of a settlement with the Department of Justice addressing alleged violations of the False Claims Act, Stark Law, and Anti-Kickback Statute.
-
News Brief
OCC: Union Bank fined $15M for ‘deceptive’ account disclosure practices
The Office of the Comptroller of the Currency announced a $15 million civil penalty against MUFG Union Bank for “deceptive practices” caused by alleged weaknesses in execution of internal controls and procedures.
-
News Brief
Swedish DPA fines Spotify $5.4M for ‘low level’ GDPR lapses
Sweden’s data protection authority levied a fine of 58 million Swedish krona (U.S. $5.4 million) against music streaming service Spotify following an audit on how the company handles customers’ rights to access their personal data.
-
News Brief
OCC soliciting input on proposed trust in banking survey
The Office of the Comptroller of the Currency announced a request for information to implement an annual survey aimed at tracking public trust in banking and bank supervision.
-
News Brief
Pharmacy holding company CCO convicted in $50M Medicare fraud
Steven King, the chief compliance officer of a defunct pharmacy holding company, was found guilty of conspiracy to commit healthcare fraud and wire fraud for unnecessarily billing Medicare for more than $50 million in medical supplies.
-
News Brief
CFPB: ‘Poorly deployed’ AI chatbots harming banking customer service
The Consumer Financial Protection Bureau flagged risks regarding expanded use of chatbots by financial institutions, specifically for customer service purposes.
-
News Brief
SEC continues crusade against crypto with Coinbase charges
The Securities and Exchange Commission continued its crackdown on the digital asset industry, charging cryptocurrency exchange Coinbase with violating federal securities laws.
-
News Brief
SEC charges Binance, founder in latest crypto crackdown
The Securities and Exchange Commission charged Binance Holdings, its U.S.-based affiliate BAM Trading Services, and their founder Changpeng Zhao with a series of securities law violations, including operating unregistered exchanges.
-
Premium
Culture goals: ‘Get out of the squishiness and into something measurable’
Organizations must move beyond abstract theory and truly measure their compliance culture, a panel of experts discussed during Compliance Week’s 2023 National Conference.