All Regulatory Enforcement articles – Page 101
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ArticleFCPA Resource Guide revision a gold mine for compliance officers
The first update to the SEC and Justice Department’s FCPA Resource Guide since it was published in 2012 includes several clarifications intended to benefit chief compliance officers and in-house counsel.
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Article
Grant Thornton UK fined $2.4M for ethical, independence failures
The U.K. Financial Reporting Council fined Grant Thornton £1.95 million (U.S. $2.4 million) for firmwide ethical and independence failures concerning an audit of alcohol retailer Conviviality Retail.
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ArticleAmazon pays $135K to settle OFAC screening violations
Amazon will pay approximately $135,000 as part of a settlement with the Office of Foreign Assets Control regarding apparent sanctions violations derived from deficient screening processes.
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ArticleDeutsche Bank rightly paying the price for looking the other way on Epstein
In terms of Know Your Customer, Deutsche Bank knew what it had with Jeffrey Epstein. It just didn’t care enough to do anything about it.
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ArticleDeutsche dinged $150M for compliance failures related, in part, to Jeffrey Epstein
Deutsche Bank will pay $150 million in penalties under a consent order with New York State for “significant compliance failures” regarding, in part, its former relationship with accused child sex trafficker Jeffrey Epstein.
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ArticleNovartis’ latest settlements: $729M in kickback charges
A week after resolving FCPA investigations for $347 million, Swiss pharmaceutical drug maker Novartis will pay another $729 million in separate settlements related to kickback schemes.
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ArticleAlexion Pharmaceuticals to pay $21M to resolve FCPA case
Alexion Pharmaceuticals will pay $21 million to resolve SEC charges that it violated the books and records and internal accounting controls provisions of the FCPA concerning bribes made by subsidiaries to foreign government officials.
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ArticleEPA enforcement discretion policy to end next month
The Environmental Protection Agency has revised its temporary—and controversial—enforcement discretion policy regarding environmental legal obligations during the coronavirus pandemic, establishing an end date of Aug. 31.
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ArticleSupreme Court won’t hear challenge to CFTC authority
A lawsuit questioning the enforcement authority of the Commodity Futures Trading Commission has petered out after being denied the chance to be heard at the U.S. Supreme Court.
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Article
Supreme Court: CFPB single-director structure unconstitutional
The U.S. Supreme Court ruled the CFPB’s single-director structure violates the separation of powers between the executive and legislative branches and is unconstitutional.
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ArticleTelegram to pay back investors $1.2B for failed ICO
Telegram Group will return more than $1.2 billion in ill-gotten gains to investors and pay an $18.5 million civil penalty to resolve SEC charges that its unregistered offering of digital tokens violated federal securities laws.
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Article
SEC risk alert provides compliance roadmap for investment advisors
A risk alert issued recently by the SEC examines disclosure deficiencies by investment advisors managing private funds.
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ArticleFollowing $107M fine for lax controls, SEB shares AML efforts
Sweden’s financial watchdog was fined SEB $107 million for weak governance practices related to the bank’s anti-money laundering controls in its Baltics subsidiaries.
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ArticleNovartis to pay $347M to resolve FCPA investigations
Novartis will pay nearly $347 million in combined criminal and civil penalty settlements with U.S. authorities to resolve all FCPA investigations into historical conduct by the company and its subsidiaries.
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ArticleVEREIT to pay $8M to settle SEC fraud charges
VEREIT, a publicly traded real estate investment trust, will pay an $8 million penalty to resolve SEC fraud charges over intentionally overstating a key non-GAAP performance metric.
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ArticleFTC stumps for additional resources to police privacy
The FTC says it would consider creating three new units to pursue privacy enforcement investigations if Congress would increase its full-time employee headcount.
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ArticleOFAC targets Mexican companies for helping Venezuelan President Maduro evade U.S. sanctions
The U.S. Department of the Treasury’s Office of Foreign Assets Control has blacklisted a network of Mexican individuals and companies said to be helping Venezuelan President Nicolas Maduro evade U.S. sanctions.
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ArticleSupreme Court: SEC can recoup ill-gotten profits, with caveats
The U.S. Supreme Court reaffirmed the SEC’s authority to recoup profits obtained from fraudulent schemes but limited the scope of what can be sought through disgorgement.
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ArticleDon’t let Trump’s actions lower the bar for checks and balances
The fact that President Trump is so unabashedly bold about holding his finger on the scales of justice should remind CCOs that ethics and rules can’t be bent for political (or business) gain.
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ArticleDeutsche to pay $10.3M for swap data reporting, spoofing practices
Deutsche Bank will pay a total of $10.3 million to resolve two separate CFTC settlements: one for alleged violations of various swap data reporting and other regulatory violations and the other for spoofing practices by two of its traders.