All Regulatory Enforcement articles – Page 106
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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.
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Former Alstom, Marubeni execs face FCPA charges in bribery scheme
The Department of Justice unsealed an indictment against three more individuals for their role in a multi-year, multi-million-dollar foreign bribery scheme and related money-laundering scheme in Indonesia.
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ArticleTreasury sanctions Rosneft subsidiary for Venezuelan ties
The Department of the Treasury’s Office of Foreign Assets Control has sanctioned a subsidiary of Russian state-run oil company Rosneft for operating in the oil sector of the Venezuelan economy.
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CCOs face SEC charges over conflicts of interest
Two chief compliance officers—one former, one current—are facing charges from the SEC as part of a lawsuit filed against a California-based investment advisory firm over failure to disclose financial conflicts of interest.
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ArticleAntitrust Division remarks on changes to model corporate plea agreement
The DOJ’s Antitrust Division last year quietly updated language contained in its “Model Annotated Corporate Plea Agreement,” as it applies to cooperation. Recent remarks provide more color around those changes.
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Tesla: One SEC investigation ends; another begins
Electric car maker Tesla announced in a regulatory filing that the Securities and Exchange Commission has closed a previously announced investigation while also launching another, this time into Tesla’s financing arrangements.
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ArticleIreland raid over privacy concerns jilts Facebook Dating
Facebook wants to play Cupid in Europe, but the Irish Data Protection Commission got its arrow in the tech giant first.
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ArticleDOJ indictment alleges Huawei fraud, trade secrets theft
The Department of Justice unveiled a fresh round of allegations against Chinese tech giant Huawei, including racketeering, theft of trade secrets, and bank fraud.
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Google begins argument to try to overturn $9B in EU fines
Attorneys for Google, seeking to overturn $9 billion in EU antitrust fines, argued in a European court Wednesday that the tech giant should not be forced to prop up its competitors in the course of promoting facets of its own business.
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Airbus contractors feeling ripple effect from record fine
Airbus is free to go about its business after paying a record fine to three anti-corruption agencies for widespread bribery, but the trouble is only beginning for some of its implicated contractors.
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SEC names Chicago associate regional director
The Securities and Exchange Commission announced Paul Montoya has been named associate regional director for enforcement in the Chicago Regional Office.
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ArticleFTC turns up antitrust heat on Big Tech
The FTC will require the top five U.S. technology firms—Alphabet Inc. (Google), Amazon, Apple, Facebook, and Microsoft—to provide information on acquisitions not previously reported to the agency dating back 10 years.
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ArticlePCAOB, CFPB big losers in Trump’s proposed budget
President Trump’s proposed budget for fiscal year 2021 effectively calls for an end to the PCAOB beginning in 2022, while the CFPB would be subject to major funding cuts as soon as next year.
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ArticleCFPB hands out $1 penalties in proposed settlement
The Consumer Financial Protection Bureau seeks to impose seven civil money penalties at $1 each as part of a proposed settlement with former payday lender Think Finance.
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ArticleReport: DOJ zeroes in on Google’s ad brokerage business
The DOJ’s scrutiny of Google’s online ad business reflects growing concerns over the tech giant’s potentially anticompetitive behavior, prompts the reclusion of an antitrust enforcement official from the probe, and points to closer coordination between federal and state authorities.