All Regulatory Enforcement articles – Page 110
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Article
Compliance lessons from Technip’s $301.3M global foreign bribery settlement
TechnipFMC and its wholly owned U.S. subsidiary Technip USA will pay a combined $301.3 million settlement to resolve foreign bribery charges with authorities in the United States and Brazil.
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ArticleSenate approves Lee nomination to SEC
The Senate has approved President Trump’s nomination of Allison Herren Lee, a former aide to Kara Stein, to a seat on the Securities and Exchange Commission.
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ArticleKPMG fallout: Cheating allegations raise new questions
After new allegations at KPMG of cheating on internal training tests, audit committees now have another area of questioning for their external auditors.
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ArticleFTC warns of false compliance with EU-U.S. Privacy Shield
The Federal Trade Commission is warning over a dozen companies in the form of letters not to falsely claim participation in the EU-U.S. Privacy Shield program.
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ArticleSEC overturns PCAOB action stemming from financial crisis
The SEC has canceled sanctions imposed by the PCAOB on a now-retired KPMG auditor connected with a mortgage lender failure at the height of the financial crisis.
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Article
Wedbush to pay more than $8.1M for improper handling of ADRs
Wedbush Securities will pay more than $8.1 million to settle charges for the improper handling of “pre-released” American Depositary Receipts.
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ArticleCongress shows new resolve to combat shell companies
The United States seems poised to finally tackle issues surrounding shell companies and their often-opaque beneficial ownership structures.
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Article
More cheating charges at KPMG: SEC fines firm $50M
The SEC has fined KPMG for not only allegations of cheating on regulatory inspections, but also new charges of numerous auditors cheating on training exams.
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ArticleICBC to pay more than $42M for improper handling of ADRs
Industrial and Commercial Bank of China Financial Services will pay more than $42 million to settle charges with both the Securities and Exchange Commission and the Department of Justice for the improper handling of “pre-released” American Depositary Receipts.
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ResourceWhite paper: Global Regulatory Outlook – Are We There Yet?
Following the 2008 financial crisis, regulatory compliance has come to play an ever-larger role in the lives of financial institutions. Regulatory requirements have become more complex and enforcement scrutiny has increased.
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Article
Expedia settles with Treasury for violations of U.S. sanctions on Cuba
Expedia Group has agreed to pay more than $325,000 to resolve allegations that it violated U.S. sanctions on Cuba, the Treasury Department announced.
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Article
FCA publishes final report on RBS
The Financial Conduct Authority has concluded its investigation into the Royal Bank of Scotland and published a final report of its findings.
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Article
Canon, Toshiba to pay $5M for antitrust law violations
Canon and Toshiba will pay $2.5 million each to settle federal charges regarding violations of the Hart-Scott-Rodino Act during an acquisition deal in 2016.
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Article
Insys files for bankruptcy after $225M settlement
Opioid maker Insys Therapeutics has filed for bankruptcy after agreeing to a $225 million global resolution to settle investigations concerning deceptive marketing and distribution of the drug Subsys.
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ArticleOSI Systems: FCPA probes have been closed
DOJ and SEC investigations into market security company OSI Systems have officially been terminated. No further information was provided.
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Article
World Bank debars China Railway Construction, two subsidiaries
The World Bank announced the nine-month debarment of China Railway Construction Corp. and two of its subsidiaries concerning misconduct under a highway project in Georgia.
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Article
SFO fines FH Bertling £850,000 in Angolan bribery scheme
The U.K. Serious Fraud Office on June 3 fined U.K.-based logistics and freight operations company FH Bertling £850,000 (U.S. $1.08 million) for a bribery scheme created to secure contracts in Angola.
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ArticleICO: U.K. companies can expect large GDPR fines soon
Year 1 under the General Data Protection Regulation saw no fines handed out in the United Kingdom. Year 2 could be a much different story,
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ArticlePCAOB disciplines former Big Four auditors
The PCAOB has disciplined two former Big Four auditors—one over an audit of internal control and the other over inspection issues.
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ArticlePolicy change previewed by DOJ a tip of the cap to compliance
A change to the DOJ’s leniency program could be good news for companies that can demonstrate an effective compliance program.