All Regulatory Enforcement articles – Page 104
-
ArticleTwo former Penn West execs settle accounting fraud charges with SEC
The former CFO and former VP of accounting and reporting at Penn West Petroleum have settled SEC charges for their role in an accounting fraud scheme that spanned several years.
-
ArticleAnalysis: Luckin Coffee saga a case of déjà vu?
Financial crime expert Martin Woods ponders how the SEC can ensure foreign companies, like China-based Luckin Coffee, that publicly trade in the U.S. can apply the proper standards of compliance, financial reporting, and even whistleblower protections.
-
ArticlePraxsyn’s apparent COVID-19 investment scam points to broader trend
The SEC announced charges against Praxsyn and its CEO for lying about acquiring and being able to supply millions of N95 masks, joining a long list of other companies alleged to have participated in COVID-19 investment scams.
-
ArticleHouse Democrats call EPA enforcement pause ‘threat to public health’
House Democrats are concerned that a temporary rollback of some environmental regulations will give companies “an open license to pollute” and have requested the EPA provide a briefing on its decisions next month.
-
ArticleIndustrial Bank of Korea to pay $86M for sanctions compliance failures
The Industrial Bank of Korea and its New York branch will pay a total of $86 million to resolve charges for systemic sanctions compliance failures that allowed more than $1 billion to be illegally transferred to the government of Iran.
-
Article
Old Ironsides to pay $1M for compliance failures
Old Ironsides Energy will pay a $1 million penalty to settle SEC charges for failing to implement its own compliance policies and procedures regarding the distribution of misleading marketing materials.
-
ArticleEni to pay $24.5M to resolve FCPA charges
Italian oil company Eni will pay $24.5 million to settle SEC charges that it violated the Foreign Corrupt Practices Act with regard to the award of certain contracts to its former subsidiary Saipem in Algeria.
-
ArticleDon’t count on European regulators to relax rules during coronavirus crisis
European businesses may be putting themselves at risk because they mistakenly believe regulators are prepared to loosen the rules so companies can operate more easily as the coronavirus pandemic lingers on.
-
ArticleSaber Healthcare Group to pay $10M in False Claims Act case
The Department of Justice fined Saber Healthcare Group and its related entities $10 million for violations of the False Claims Act, alleging the company knowingly increased Medicare billings.
-
ArticleSEC censures Schulman Lobel for deficient audit engagements
The SEC censured audit firm Schulman Lobel and ordered it to pay a total of $98,510 for deficient audit and review engagements it performed on now-defunct software provider Quadrant 4 System.
-
Resourcee-Book: Coronavirus impact on the regulatory climate
As both the regulatory landscape and the “new normal” for businesses evolves in the wake of the coronavirus pandemic, one thing remains certain: An ethics-first mindset will always keep your company pointed in the right direction.
-
ArticleEx-exec charged, but Goldman Sachs avoids FCPA liability for due diligence efforts
The SEC announced charges against a former Goldman Sachs exec for violating the anti-bribery provisions of the FCPA, but the firm was not charged in the case because of the due diligence measures it took.
-
ArticleSFO: Tesco concludes three-year DPA for accounting scandal
The U.K. Serious Fraud Office announced British supermarket chain Tesco Stores has fulfilled the terms of its 2017 deferred prosecution agreement resulting from an accounting fraud scandal.
-
ArticleFinCEN, OCC offer BSA compliance relief amid pandemic
Two federal agencies that oversee Bank Secrecy Act requirements have notified financial institutions they will agree to “reasonable delays” in the filing of required reports if institutions can show the delays are necessary due to the coronavirus pandemic.
-
ArticleRegulatory slowdown due to coronavirus makes compliance role critical
The ongoing pandemic is limiting investigations into most types of white-collar crimes as federal enforcement agencies refocus their attention on coronavirus-related matters.
-
ArticleFRC sanctions KPMG, former senior partner for audit failings
The U.K. Financial Reporting Council has reprimanded and fined KPMG and one of its former senior partners for a failure to exercise “sufficient professional skepticism” and for failure to obtain “sufficient appropriate audit evidence.”
-
ArticleSEC charges chief compliance officer in trading scheme
The SEC has filed a complaint against four individuals, including a former chief compliance officer, for conducting a fraudulent unauthorized trading scheme through retail customer accounts at their Commission-registered brokerage firm.
-
Article
Standard Chartered fined $24.9M for Ukraine sanctions breaches
The U.K. Office of Financial Sanctions Implementation hit Standard Chartered Bank for a record fine relating to loans the bank made to Russian financial institutions in violation of the EU’s sanction regime.
-
ArticleEPA scaling back enforcement amid coronavirus
The Environmental Protection Agency said it doesn’t expect to seek penalties for noncompliance with routine monitoring and reporting obligations during a temporary policy issued amid the coronavirus pandemic.
-
ArticleDOJ indicts Venezuela President Maduro, others in regime
The DOJ unsealed indictments against Venezuelan President Nicolás Maduro and several high-ranking former and current members of his regime for alleged drug trafficking and money laundering crimes, as well as violations of the FCPA.