All Regulatory Enforcement articles – Page 137
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Blog
No matter who wins the Presidential race in November, compliance officers might lose
After watching the most recent Democrat and Republican Presidential debates, one begins to wonder what the next President will seek to achieve on various regulatory fronts. Between candidates’ promises to regulate more strongly, or to deregulate entirely, it looks like no matter who wins in November, compliance officers are poised ...
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Blog
2016 SEC trial scorecard update: agency undefeated after three trials
On Monday, February 29, 2016, a jury in the U.S. District Court for the Southern District of New York returned a verdict in favor of the SEC in the agency's third federal court trial of FY 2016. The agency remains undefeated in FY 2016having been successful in SEC v. Payton ...
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Blog
Throwback Thursday: The three-digit insider trading case
At least one commentator declared this week's SEC insider trading case alleging illegal profits of just $1,083 to be the smallest insider trading case ever. Nope!
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Blog
Glass walls and black curtains
The death of Supreme Court Associate Justice Antonin Scalia—and the scuttlebutt surrounding it—underscores the deep level of secrecy that surrounds the Supreme Court and how it operates. Meanwhile, compliance officers know only too well the price to pay for a lack of transparency. Maybe it’s time for the Supreme Court ...
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Blog
Stanford Law rolls out ‘Foreign Corrupt Practices Act Clearinghouse’
U.S.-based Stanford Law School announced earlier this month that it has teamed up with law firm Sullivan & Cromwell to launch the new Foreign Corrupt Practices Act Clearinghouse. The FCPA Clearinghouse is a free, public resource that provides a comprehensive, searchable, and very useful database of enforcement actions and information ...
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Blog
A closer look at the SEC's 'Analysis and Detection Center'
Recent comments by an SEC official about five insider trading cases generated from the Enforcement Division's "Analysis and Detection Center" over the last year generated some questions in the blogosphere. Now Enforcement Action has some answers!
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Blog
Rep. Garrett 'distressed' by SEC's faith in AP process
At a recent conference, an SEC official defended the agency's use of administrative proceedings and flatly dismissed the notion that the SEC was using APs in order to gain a “home court advantage.” Rep. Scott Garrett didn't like that one bit.
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Blog
Under Single Resolution Mechanism, EU banks get bail-in
The European Union’s Single Resolution Mechanism (SRM), part of a larger post-financial crisis initiative known as the Bank Recovery and Resolution Drive (BRRD), has recently received further implementation. The advancement of SRM means that banks must have recovery plans, but EU-level authorities can intervene if they sense a bank is ...
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Blog
FinCEN withdraws three findings and proposed rulemakings under PATRIOT Act
The Financial Crimes Enforcement Network this week said it is withdrawing three findings and related proposed rulemakings under Section 311 of the USA PATRIOT Act, after having determined that the subjects of the rulemakings no longer pose a money laundering threat to the U.S. financial system.
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Blog
SEC dusts off Reg AC to charge former Deutsche Bank analyst
Today, the SEC announced that it has filed a settled administrative proceeding against Charles P. Grom, a former Deutsche Bank research analyst, for allegedly certifying a rating on a stock that was inconsistent with his personal view. The SEC alleged that Grom's conduct violated the analyst certification requirement of Regulation ...
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BlogEU implements plan to prevent falsified medicines
The European Medicines Agency and the European Commission have published a plan to prevent falsified medicines from entering the market. The regulation introduces two safety features: a unique identifier and an anti-tampering device to be placed on the packaging of most medicines. “The safety features will help protect European citizens ...
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Article
Compliance lessons in the healthcare sector
When enforcement actions against healthcare or life sciences companies arise, many choose to settle their cases prior to litigation, often resulting in a corporate integrity agreement with the Department of Health and Human Services Office of Inspector General. By carefully scrutinizing these agreements, compliance and audit teams in the healthcare ...
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Blog
SEC Inspector General report finds no evidence of ALJ bias
In a recently-issued report, the SEC's Office of Inspector General concluded that there was no evidence to support allegations of bias on the part of Administrative Law Judges in the SEC's administrative proceedings. The allegation had surfaced in a May 2015 article in The Wall Street Journal.
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Blog
Morgan Stanley hit with $2.6 billion penalty
The Justice Department yesterday announced that Morgan Stanley will pay a $2.6 billion penalty to resolve claims related to Morgan Stanley’s marketing, sale and issuance of residential mortgage-backed securities. This settlement constitutes the largest component resolutions with Morgan Stanley entered by members of the RMBS Working Group, which have ...
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Blog
Justice Department: companies will have to certify investigation disclosures
The Department of Justice’s Fraud Section has confirmed that it is working on developing a new policy whereby settling companies will soon have certify that they have, in fact, disclosed fully all information about individuals involved in wrongdoing before finalizing a settlement agreement. The new policy in the making signals ...
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Blog
SEC Names O’Riordan and Patel Associate Dirs. for Enforcement in L.A.
C. Dabney O’Riordan and Alka Patel have been named Associate Directors for Enforcement in the SEC's Los Angeles Regional Office, where they will oversee that office’s enforcement’s efforts in southern California, Arizona, Nevada, and Hawaii.
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Resource
e-Book: Combatting Corruption
Faced with a global crackdown on corruption, more companies are adopting zero-tolerance policies for bribery, but eliminating bribes and facilitation payments throughout the organization can be a difficult undertaking. In this e-Book, produced by Compliance Week in cooperation with ACL, you will learn how to mitigate these risks, including how ...
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Blog
CFTC Still Waiting for Its Whistleblower Program to Bear Significant Results
After four years, the CFTC has so far paid out just two whistleblower awards totaling $530,000 while incurring millions of dollars in expenses. The agency’s inspector general stated recently that it has opened a review to “to determine the reason, if any, for the limited number of CFTC whistleblower awards ...
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Blog
'You Get a Refund! You Get a Refund! You Get a Refund...!'
The SEC might be feeling like a little like Oprah lately, handing out refunds the way Oprah hands out cars. "You get a refund! You get a refund! YOU get a refund!"
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Blog
Barclays, Credit Suisse to Pay $150 Million for Dark Pool Violations
The Securities and Exchange Commission last month announced that Barclays Capital and Credit Suisse Securities have agreed to settle separate cases for violating federal securities laws while operating alternative trading systems known as dark pools and Credit Suisse’s Light Pool. Both firms collectively will pay more than $150 million to ...