All Regulatory Enforcement articles – Page 109
-
Article
The Facebook Effect: ‘Price of privacy violations just went up’
The FTC hit Facebook with a ground-breaking $5 billion penalty for privacy violations, but the bigger takeaway for CCOs is the unprecedented new privacy and corporate governance obligations the company must implement.
-
Article
Facebook to pay $100M for misleading disclosures
In addition to its record-breaking FTC fine, Facebook on Wednesday reached a $100 million settlement with the SEC for making misleading disclosures regarding the risk of misuse of its user data.
-
ArticleSEC, DOJ charge 3 former Power Solutions executives with fraud
Three former executives of a smaller reporting company are facing multiple fraud charges connected to a $25 million overstatement of revenue.
-
ArticleLesson from Equifax penalty (at least $575M): Breach ‘entirely preventable’
What resulted in the largest-ever breach of consumer data culminated in the largest data breach enforcement action in history.
-
Article
Qualcomm fined $271M for predatory pricing
The European Commission has fined Qualcomm 242 million Euros (U.S. $271 million) for anti-competitive behavior in violation of EU antitrust rules. Qualcomm says it has done nothing wrong and will appeal the finding.
-
ArticleFTC looks worryingly timid in staying silent on Facebook
The FTC, by dragging its feet and keeping silent on a massive Facebook fine, raises concerns about its potential role as top cop on the data privacy beat.
-
ArticleReckitt Benckiser’s record $1.4B opioid settlement a warning for drug companies
Reckitt Benckiser Group will pay $1.4 billion to resolve a long-running federal investigation concerning the sales and marketing of the opioid addiction treatment drug Suboxone.
-
ArticleSEC charges former Illumina accountant with insider trading
The SEC has filed insider trading charges against a former Illumina accountant and friend whose alleged scheme resulted in $6.2 million in profits.
-
Article
Florida man sentenced for role in collapse of Puerto Rico bank
The CEO of a now-bankrupt pharmaceutical company was sentenced to 30 years in prison for his role in a $100 million plot that triggered Westernbank of Puerto Rico’s collapse.
-
ArticleRegulatory events: What’s hot this summer!
Here’s a look at some upcoming events and training from regulators like the SEC, DOJ, and PCAOB.
-
Article
Marriott reveals $124M GDPR fine for data breach
Marriott has disclosed in a filing with the SEC that the U.K.’s Information Commissioner’s Office intends to fine it roughly £99 million (U.S. $124 million) for infringements of the EU’s GDPR.
-
ArticleSEC's Clayton reignites debate about pairing of enforcement, waivers
In a potential boon for businesses, SEC Chairman Jay Clayton says qualifications for waiver issuances may no longer be delayed due to lingering accusations of misconduct.
-
Article
Hong Kong’s SFC bans former Goldman Sachs officer for life
Hong Kong’s Securities and Futures Commission has banned Tim Leissner, a former participating managing director at Goldman Sachs (Asia), from re-entering the industry in connection with his crimes relating to 1MDB.
-
ArticleSerco fined £19.2M over electronic tagging scandal
The U.K. Serious Fraud Office has approved in principle a deferred prosecution agreement with Serco Geografix for fraud and false accounting that would result in a fine of £19.2 million (U.S. $24.2 million).
-
ArticleCFTC issues joint $2M whistleblower award
The Commodity Futures Trading Commission announced on July 1 an award of $2 million to two “model whistleblowers” who provided the agency with “significant information” that prompted the CFTC to open an investigation.
-
Article
State Street to pay $88.8M for mutual fund overcharges
State Street will pay $88.8 million to resolve charges with the SEC that it overcharged mutual funds and other registered investment company clients for expenses related to the firm’s custody of client assets.
-
ArticleFTC expands scope of data security compliance requirements
The FTC is turning up the heat on the data security compliance requirements companies must meet in the event of an enforcement action following a data breach.
-
Article
UBS compliance officer convicted of insider trading
A London Southwark Crown Court jury on June 27 convicted two individuals—a senior compliance officer of UBS and a day trader of financial securities—and sentenced them to three years’ imprisonment for insider trading.
-
ArticleYet another misstep by Danske results in firing of interim Danish CEO
Danske Bank has been forced to fire yet another board member—this time for mis-selling thousands of customers a wealth management product that charged excessive fees.
-
Article
Merrill Lynch to pay $25M to settle metals ‘spoofing’ claims
Merrill Lynch Commodities will pay a combined $25 million to resolve a government investigation into a multi-year scheme to mislead the market for precious metals futures contracts.