All Regulatory Enforcement articles – Page 134
-
Blog
Deutsche Bank, Credit Suisse reach combined $12.5B settlements
Deutsche Bank and Credit Suisse last month agreed to pay a combined $12.5 billion in penalties related to the packaging, securitization, marketing, sale, and issuance of residential mortgage-backed securities, whereas Barclays and several of its U.S. affiliates are battling a civil complaint over similar claims. Jaclyn Jaeger reports.
-
Blog
McKesson to pay $150M in prescription drug probe
Drug distributor McKesson will pay a record $150 million civil penalty for alleged violations of the Controlled Substances Act, the Justice Department announced today. The settlement also imposes new and enhanced compliance obligations, as well as an independent monitor—the first independent monitor of its kind in a CSA civil penalty ...
-
Article
As SEC broadens international enforcement focus, compliance efforts must adapt
Under Mary Jo White, the SEC greatly expanded its focus on cross-border enforcement, adding risk and compliance challenges for companies wherever they are based. Joe Mont reports.
-
Article
SEC oversight in the Digital Age
Big Data is the compliance buzzword of the day, but at the SEC, high technology is both a challenge and an opportunity. Jaclyn Jaeger has more.
-
Blog
Wither the attorney-client privilege?
Attorney-client privilege is once again under siege, writes Tom Fox—this time in a lawsuit being brought by the former general counsel of Bio-Rad, Sanford Wadler, who is suing his former employer for wrongful termination.
-
Blog
Moody’s to pay $864M arising from conduct leading up to financial crisis
Moody’s Investors Service, Moody’s Analytics, and their parent, Moody’s, have reached a nearly $864 million settlement agreement with the Department of Justice, 21 states, and the District of Columbia to resolve allegations arising from Moody’s role in providing credit ratings for residential mortgage-backed securities and collateralized debt obligations. Jaclyn Jaeger ...
-
Blog
Disparaging a speak-up culture
Tom Fox explores the recent case of JPMorgan Chase when an employee’s former manager added material to a terminated employee’s file post termination to beef up the excuses for the termination. Not a good sign, says Fox, and possibly a sign of an ineffective compliance program.
-
Blog
Next in line for regulatory troubles, Fiat?
Fiat, which was recently flagged by the EPA for pollution violations, could be a reminder to companies to scour the news for details on any regulatory investigations of their peers and perhaps to begin scrutinizing their own books and records, says The Man From FCPA Tom Fox.
-
Blog
Morgan Stanley to pay $13M for overbilling clients
The Securities and Exchange Commission today announced that Morgan Stanley Smith Barney has agreed to pay a $13 million penalty to settle charges that it overbilled investment advisory clients due to coding and other billing system errors. The firm also violated the custody rule pertaining to annual surprise examinations. ...
-
Blog
On the death of the ‘rogue engineer’
For The Man from FCPA Tom Fox, the most interesting thing about the Volkswagen indictments were not that ‘rogue engineers’ were charged but that executives who participated in the cover-up were indicted.
-
Blog
Volkswagen to pay $4.3B in emissions-cheating scandal
Volkswagen will plead guilty and pay a total of $4.3 billion in criminal and civil penalties resulting from the company’s long-running emissions-cheating scandal. In addition, six Volkswagen employees are indicted in connection with the conspiracy. Jaclyn Jaeger reports.
-
Blog
Banks and bankers on front line of AML fight
The first foreigner, Jens Sturzenegger, a former branch manager at Falcon Private Bank in Singapore, was recently convicted in the 1MDB scandal. Tom Fox reports.
-
Article
A post-election perspective on financial regulatory compliance
The Trump administration might not follow the Republican playbook when it comes to scaling back enforcement across the board, writes Todd Cipperman.
-
Blog
Second VW exec arrested: those pesky e-mails
As the recent arrest of another VW executive (this time in the United States) unfolds, The Man From FCPA Tom Fox ponders whether VW will actively assist U.S. law enforcement authorities in performing a substantive internal investigation.
-
Blog
SEC issues $5.5 million whistleblower award
The SEC has awarded more than $5.5 million to a whistleblower who provided critical information that helped the SEC uncover an ongoing scheme. Jaclyn Jaeger reports.
-
Blog
Banks reach final resolutions under Swiss Bank Program
The Department of Justice last week announced that it has reached final resolutions with banks that have met the requirements of the Swiss Bank Program, which provided a path for Swiss banks to resolve potential criminal liabilities in the United States, and to cooperate in ongoing investigations of the use ...
-
Blog
SEC and DOJ allege insider trading related to hacked law firms
Yesterday, the SEC and the DOJ separately announced significant cases against three Chinese traders who made nearly millions in illegal profits by hacking into the computer networks of two "prominent New York-based law firms."
-
Blog
SEC: hackers hit law firms, traded on nonpublic information
In a first-of-its-kind case, the SEC has charged a trio of Chinese hackers with stealing and trading on nonpublic, market-moving data from law firms.
-
Blog
Former SEC Chief Litigation Counsel Solomon Joining Cleary Gottlieb
In late November, the SEC announced the departure of Matthew C. Solomon, the Chief Litigation Counsel for the SEC’s Enforcement Division. This week, law firm Cleary Gottlieb announced that Solomon will join the firm's Washington, D.C., office as a partner in January 2017.
-
Blog
U.S., U.K. and German law firms team up to help whistleblowers
New York law firm Meissner & Associates and two European law firms—Naegele and London-based Brahams Dutt Badrick French—have teamed up to launch a first-of-its-kind collaborative platform to help Europeans call out financial wrongdoing and benefit from U.S. whistleblower laws.