All Regulatory Enforcement articles – Page 103
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ArticleSwiss firm, owner face charges in stock manipulation scheme
The SEC and DOJ have separately announced charges against a Swiss asset management firm and several individuals for engaging in a long-running stock manipulation scheme involving numerous U.S. issuers. The charges resulted from a failed attempt to circumvent disclosure requirements imposed by securities laws.
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ArticleUBP to pay additional $14M for hidden accounts
Union Bancaire Privée (UBP), a Swiss private bank, must pay an additional $14 million to the U.S. government for accounts it failed to disclose in an addendum to a non-prosecution agreement reached with the Department of Justice four years ago.
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ArticleExxon wins legal battle with OFAC over sanctions violation
A federal judge ruled this week Exxon will not have to pay a $2 million civil penalty levied by OFAC in 2017 for violating Ukraine-related sanctions regulations.
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Hong Kong’s SFC fines RHB Securities Hong Kong $6.4M
Hong Kong’s Securities and Futures Commission has fined RHB Securities Hong Kong $6.4 million for failing to comply with regulatory requirements on conflicts of interest and supervision of account executives.
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ArticleCompliance 2020: A timeline
Compliance Week looks back at two decades of scandals, enforcement actions, and regulatory policies (2000-2019) that shaped the compliance function we see today.
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PremiumTop ethics and compliance failures of 2019
From antitrust and privacy concerns in the tech world to compliance officer liability in the pharmaceutical industry to unethical practices in the banking and accounting professions, more than a dozen companies made Compliance Week’s list of the biggest compliance fails in 2019.
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ArticleSutter agrees to pay $575M, gets compliance monitor in antitrust settlement
California announced a settlement with Sutter Health for $575 million to settle claims of anti-competitive behavior brought by the state attorney general as well as a class-action group that included employers and unions.
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ArticleCFTC awards more than $1M to internal compliance whistleblower
The CFTC announced a whistleblower award north of $1 million for a tipster who went through internal compliance at his or her company to get the information to regulators.
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ArticleSEC cites ‘inadequate’ compliance in fraud charges against radio host
The Securities and Exchange Commission has charged Sacramento, Calif.-based radio host Keith Springer and his company with defrauding hundreds of retail clients. The SEC specifically singled out failures in Springer’s compliance program in its complaint.
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ArticleMost-trafficked content tells story of the compliance officer
Changes in the interests of our audience over the last several years help us to understand how much compliance officers must evolve in their jobs to meet the demands of a given time.
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ArticleSFO confirms DPA with Güralp Systems after three acquitted
The founder and two former employees of Güralp Systems were acquitted of charges they conspired to bribe a South Korean public official, making it the latest corruption case in which the U.K. Serious Fraud Office failed to secure individual convictions.
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ArticleMetLife to pay $10M for ‘longstanding’ accounting errors
MetLife will pay a civil penalty of $10 million to resolve charges the insurance company violated the books and records and internal accounting controls provisions of federal securities laws.
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ArticleCompanies deserve a break on rushed CCPA compliance
The CCPA has been rushed from the start, says CW Editor in Chief Dave Lefort, who believes the California attorney general’s plan to give leniency for companies making good-faith efforts is the right call.
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ArticleAlleged compliance failures at Omnicare lead to healthcare fraud lawsuit
A series of alleged compliance failures at pharmaceutical services provider Omnicare has resulted in the Department of Justice intervening in yet another civil healthcare fraud lawsuit against the company.
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FTC appoints new antitrust head
The Federal Trade Commission announced the appointment of Ian Conner as director of the Bureau of Competition. In addition, Daniel Francis was named deputy director at the Bureau.
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ArticleSEC bars former Goldman Sachs director over 1MDB scandal
Former Goldman Sachs Group executive Tim Leissner has settled charges brought by the SEC for alleged violations of the Foreign Corrupt Practices Act. His settlement includes a permanent bar from the securities industry.
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DOJ revises export control and sanctions enforcement policy
The Department of Justice has revised its policy regarding voluntary disclosures of export control and sanctions violations.
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ArticleSFO charges two former Serco directors with fraud, false accounting
The U.K. Serious Fraud Office has charged two individuals with fraud and false accounting concerning Serco’s electronic monitoring contract with the Ministry of Justice.
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ArticleWADA mess: Sports regulator’s light touch sends bad compliance message
One of sports’ key enforcement agencies handed out a penalty this week that sent a message no regulator wants to send: Punitive action may only come after the guilty party has already reaped the rewards.
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ArticleMorgan Stanley fined $22.2M for manipulating bond prices
France’s financial market regulator has fined Morgan Stanley €20 million (U.S. $22.2 million) for manipulating the price of French and Belgian government bonds in June 2015.