All Regulatory Enforcement articles – Page 134
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Blog
Scam and money laundering puts former Wells Fargo manager in jail
A former Wells Frago bank manager is headed to jail for his role in a $1.66 million mass mailing scam that was facilitated with a money laundering scheme.
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Blog
Medical device CEO convicted of $750 million securities fraud
A federal jury has convicted the former chief executive officer of a publicly traded medical device compan for his role in orchestrating a fraud scheme that led to $750 million in shareholder losses.
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Blog
Mylan will pay $465 million to resolve False Claims Act liability
Mylan, maker of the EpiPen, has agreed to pay $465 million to settle Department of Justice allegations that it violated the False Claims Act by misclassifying the epinephrine injector as a generic drug to avoid paying Medicaid rebates.
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Hedge fund adviser charged with inadequate insider trading controls
A hedge fund advisory firm has agreed to pay more than $4.6 million to settle SEC charges that it had inadequate policies and procedures to prevent the misuse of inside information, including information about confidential government decisions.
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NLRB compliance officer fabricated victims, stole from compensation fund
A former NLRB compliance officer pleaded guilty this week to charges he stole more than $400,000 from an agency fund he oversaw that was intended to distribute funds to employees victimized by labor law violations.
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Blog
Another CCO settles with SEC over negligence of duties
The SEC has announced another settlement with a former CCO over alleged negligence. The settlement, reached on Aug. 15 also offers a caution about retaining third party compliance services.
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FCPA, CEOs and risk assessments
Ian Narev, chief executive officer of the Commonwealth Bank of Australia, may soon join the ranks of those CEOs who depart once a corruption scandal goes public.
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OFAC red cards Mexican footballer Marquez
A prominent Mexican football star finds himself on OFAC's black list for allegedly fronting for a known drug kingpin. Just when you thought soccer couldn't get any more dramatic.
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Blog
Looking to buy? Be sure and complete your due diligence
Tom Fox explores a recent report on wealthy American businessmen attempting to purchase London soccer clubs for a weekend outing and their due diligence duties.
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Article
Differing regulatory ethos poses challenges for cross-border financial institutions
In a group Q&A, we look at how multinational companies should view compliance amid attitudinal differences regarding compliance and enforcement.
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Halliburton, the FCPA, and effectiveness
Having a great compliance program means nothing if it exists only on paper. If you want to keep the DoJ and SEC happy, that program must also be demonstrably effective.
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VW enters a new penalty phase
A significant source of funding or loan guarantees for VW may have become impaired, making the emissions-testing scandal and the attendant penalty phase potentially even more damaging for the automaker.
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How Hui Chen prompted an evolution in compliance at the DoJ
Hui Chen’s time as compliance counsel at the DoJ’s Fraud Section was short and eventful and did a lot to move the needle on how the DoJ views corporate compliance programs.
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SEC awards more than $1.7M to whistleblower
The SEC last week announced a whistleblower award of more than $1.7 million to a company insider who it said provided the agency with critical information to help stop a fraud that would have otherwise been difficult to detect.
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Blog
SEC Investigative Report: Digital assets are securities
The Securities and Exchange Commission issued an investigative report this week cautioning market participants that offers and sales of digital assets by “virtual” organizations are subject to the requirements of the federal securities laws.
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SEC awards $2.5 million to whistleblower
The Securities and Exchange Commission this week announced an award of nearly $2.5 million to an employee of a domestic government agency whose whistleblower tip helped launch an SEC investigation and whose continued assistance enabled the SEC to address a company's misconduct.
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Blog
Former U.S. Attorney joins Manatt
Richard Hartunian, former U.S. Attorney for the Northern District of New York, will join law firm Manatt, Phelps & Phillips in its Manhattan office as a partner in the corporate investigations and white-collar defense practice in August.
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Blog
Compliance, risk, and the opioid scandal
The pharmaceutical industry may be the next victim of the opioid epidemic, as the government turns its focus on the pharmaceutical manufacturers themselves, not the addict or drug abuser.
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Blog
Exxon to challenge OFAC over Russia sanctions
The Treasury Department’s Office of Foreign Assets Control has slapped ExxonMobil with a $2 million civil penalty for violating Ukraine-related sanctions regulations, an action that Exxon is legally challenging.
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ArticleThe compliance side of the war on drugs
In a precedent-setting case, drugmaker Mallinckrodt Pharmaceuticals has agreed to a $35 million settlement with the U.S. federal government for failing to monitor its sales channels for suspicious orders.