All Regulatory Enforcement articles – Page 100
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ArticleFormer U.S. Bank risk officer pays $450K for AML compliance failures
The former chief operational risk officer at U.S. Bank has agreed to pay a $450,000 penalty for his role in the bank failing to implement and maintain an effective anti-money laundering compliance program.
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Alstom exec's acquittal calls FCPA jurisdiction into question
A federal court in Connecticut acquitted a former Alstom employee on FCPA charges following a Second Circuit decision. But the story does not end there.
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ArticleU.K.’s ICO fines Cathay Pacific for pre-GDPR breach
The U.K. Information Commissioner’s Office has fined airline Cathay Pacific £500,000 (U.S. $643,000) for failing to protect the personal data of millions of customers.
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ArticleDOJ intervenes in whistleblower suit against Mallinckrodt
The Department of Justice has intervened in a whistleblower lawsuit against Mallinckrodt over allegations the drug maker knowingly underpaid Medicaid rebates it owed due to significant price increases to its drug Acthar.
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ArticleNewell Brands facing SEC subpoena over sales, accounting practices
Newell Brands disclosed in a regulatory filing it is facing a Securities and Exchange Commission subpoena over its sales and accounting practices, particularly related to the impairment of goodwill and other intangible assets.
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ArticleCFPB’s leadership structure, SEC’s authority on SCOTUS docket this week
The Supreme Court will hear arguments this week in cases that question whether the current structure of the CFPB is constitutional, and whether to curb the SEC’s power to return funds to fleeced investors.
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ArticleAccountant pleads guilty in DOJ Panama Papers probe
A U.S-based accountant who was charged alongside three others for their alleged roles in a decades-long criminal scheme perpetrated by Panama-headquartered law firm Mossack Fonseca and related entities has pleaded guilty.
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ArticleCompliance lessons from Cardinal Health’s FCPA settlement
Cardinal Health reached an $8.8 million settlement with the SEC for violations of the FCPA concerning the operations of its former Chinese subsidiary. For prudent compliance officers, it’s a tale of how not to do business in China.
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ArticleFCC proposes fines against T-Mobile, AT&T, Verizon, Sprint
The FCC proposed fines against the four largest wireless carriers in the United States for allegedly selling access to their customers’ location information without taking reasonable measures to protect against unauthorized access.
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ArticleSix compliance lessons from Wells Fargo’s really bad week
Two more settlements reached by Wells Fargo with regulators in the span of a week impart yet more “what not to do” ethics and compliance lessons.
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ArticleSEC rips Wells Fargo’s ETF compliance efforts in $35M settlement
Already reeling from last week’s $3 billion penalty related to its fake accounts scandal, Wells Fargo took another hit Thursday in the form of a $35 million SEC settlement related to poor supervision of investment recommendation practices.
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SEC settles with RSM over improper conduct
The Securities and Exchange Commission has settled charges with RSM for “improper professional conduct” after the firm assigned unqualified staff to audit a series of private investment funds.
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ArticleUnder Siege: Actor Steven Seagal dinged by SEC for touting ICO
Steven Seagal agreed to a settlement with the Securities and Exchange Commission for failing to disclose payments he received for promoting an initial coin offering in 2018 conducted by Bitcoiin2Gen.
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ArticleSITA settles nearly 10K alleged OFAC sanctions violations for $7.8M
Société Internationale de Télécommunications has agreed to pay approximately $7.8 million to settle 9,256 apparent sanctions violations with the Treasury Department’s Office of Foreign Assets Control.
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ArticleSEC subpoenas Mattel in accounting probe
Mattel announced it has received a subpoena from the Securities and Exchange Commission seeking documents related to a previously disclosed investigation that had uncovered accounting errors.
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ArticleRegulatory events coming this spring
Check out information on upcoming events from such regulators as the SEC, FINRA, CFPB, and more.
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ArticleWhat’s next for Wells Fargo? Bank, execs still in crosshairs
Wells Fargo will pay $3 billion to resolve civil and criminal penalties with the DOJ and SEC related to its long-running fake accounts scandal, but the embattled bank—and its former executives—are far from out of the woods.
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ArticleWells Fargo to pay $3B to resolve fake account scandal
The Department of Justice and Securities and Exchange Commission on Friday assessed total civil and criminal penalties of $3 billion against Wells Fargo & Co. and its subsidiary, Wells Fargo Bank, in the aftermath of its fake account scandal.
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ArticleCompliance lessons from Julius Baer’s ‘serious AML failings’
Compliance officers can learn a lot from the anti-money laundering compliance shortcomings at Julius Baer Group, as well as from what the bank is now doing to enhance its risk management and AML compliance controls.
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ArticleDiageo to pay $5M for disclosure failures
Alcohol producer Diageo has agreed to pay $5 million to resolve charges brought against it by the SEC for disclosure failures, due to weaknesses in its internal disclosure processes.