All articles by Jeff Dale – Page 7
-
News BriefJPMorgan bracing for $350M in penalties over trade surveillance
JPMorgan Chase disclosed in a regulatory filing it expects to be penalized approximately $350 million by two unnamed U.S. regulators over lapses in its trading surveillance activities.
-
News BriefCFTC appoints new head of whistleblower office
The Commodity Futures Trading Commission appointed Brian Young as director of its whistleblower office.
-
News BriefEx-Sterling Bank GC cited by OCC over BSA-related failures
The Office of the Comptroller of the Currency issued a cease-and-desist order against the former general counsel at Sterling Bank and Trust for not ensuring the institution’s Bank Secrecy Act compliance and failing to timely file suspicious activity reports.
-
News BriefFinCEN: BSA data shows spike in crypto-financed human trafficking
Bank Secrecy Act reporting data disclosed by the Financial Crimes Enforcement Network revealed a significant spike in the use of cryptocurrency to finance human trafficking.
-
News BriefFCA fines, bans ex-London Capital & Finance compliance head over promos
The U.K. Financial Conduct Authority issued a fine of £31,800 (U.S. $40,000) against a former compliance director at London Capital & Finance for allegedly approving misleading promotions that led to investor deception.
-
News BriefSCOTUS reaffirms whistleblower protections in ruling against UBS
The Supreme Court reaffirmed whistleblower protections guaranteed under the Sarbanes-Oxley Act in a unanimous decision expected to set a precedent that impacts all corporate internal reporting cases.
-
News BriefPenn State Health to pay $11.7M over self-disclosed Medicare violations
Multihospital healthcare system Penn State Health agreed to pay more than $11.7 million to resolve self-disclosed violations of Medicare rules related to improper billing.
-
News BriefAlphabet to pay shareholders $350M over Google+ privacy lapses
Alphabet, the parent company of technology giant Google, agreed to pay $350 million in a preliminary settlement with shareholders over alleged data privacy violations and materially false and misleading statements linked to now-defunct social media site Google+.
-
News BriefWestpac ordered to pay $1.2M in insider trading case
Westpac Banking Corp. was assessed a maximum fine of AUS$1.8 million (U.S. $1.2 million) to address charges levied by the Australian Securities and Investments Commission of insider trading related to an interest rate swap transaction.
-
News BriefBlackbaud avoids fine in FTC deal requiring data deletion
Software company Blackbaud will be required to delete unnecessary data and boost cybersecurity as part of a proposed settlement with the Federal Trade Commission stemming from a 2020 data breach.
-
News BriefFinCEN alert flags Israeli extremists fomenting violence in West Bank
The Financial Crimes Enforcement Network issued an alert addressing the financing of Israeli extremist settler violence against Palestinians in the West Bank.
-
News BriefCity National Bank ordered to pay $65M over deficient risk, internal controls
The Office of the Comptroller of the Currency levied a $65 million civil penalty against Los Angeles-based City National Bank over alleged risk management and internal control failures.
-
News BriefCalavo Growers discloses potential FCPA issues
Multinational produce and agriculture company Calavo Growers disclosed in an annual filing an investigation into its Mexico operations found potential issues under the Foreign Corrupt Practices Act.
-
News BriefPRA fines HSBC units $73M over deposit protection failures
The Bank of England’s Prudential Regulation Authority penalized two HSBC units £57.4 million (U.S. $73 million) over historic failures in deposit protection identification and notification.
-
News BriefTD Bank reportedly facing fine for faulty AML controls
The Financial Transactions and Reports Analysis Centre of Canada is reportedly preparing to issue its largest fine to date against TD Bank for faulty anti-money laundering controls.
-
News BriefCalif. AG launches sweep into streaming apps’ compliance with CCPA
California Attorney General Rob Bonta announced the launch of an investigative sweep targeting popular streaming apps and devices, alleging noncompliance with the California Consumer Privacy Act.
-
News BriefMGM Grand, Cosmopolitan fined $7.5M total over BSA violations
Two Las Vegas casinos agreed to pay penalties of nearly $7.5 million as part of separate non-prosecution agreements with the Department of Justice addressing violations of the Bank Secrecy Act over alleged anti-money laundering compliance failings.
-
News BriefAon unit to pay $1.5M for misleading pension fund
Aon Investments USA and its former partner agreed to pay nearly $1.6 million in combined penalties to settle charges by the Securities and Exchange Commission that they misled a Pennsylvania school pension fund.
-
News BriefICO seeking input on generative AI to inform guidance
The U.K. Information Commissioner’s Office is seeking input from developers, users, and those interested in generative artificial intelligence to help inform policy and guidance regarding the technology.
-
News BriefFINRA report highlights crypto communication violations
The Financial Industry Regulatory Authority announced it uncovered potential violations of its disclosure rules in 70 percent of crypto asset communications reviewed during a targeted exam.