All Regulatory Enforcement articles – Page 14
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News Brief
RDx Bioscience, CEO settle kickback case for $13M
New Jersey-based clinical laboratory RDx Bioscience and its chief executive officer agreed to pay more than $13 million to the Department of Justice to settle illegal kickback allegations.
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News Brief
SDNY launches whistleblower pilot program
The U.S. Attorney’s Office for the Southern District of New York took its efforts to encourage voluntary self-disclosure a step further with the launch of a whistleblower pilot program for individuals involved in nonviolent offenses.
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News Brief
SAP to pay $220M in FCPA settlements
German-based software company SAP agreed to pay more than $220 million as part of resolutions with authorities in the United States and South Africa regarding alleged violations of the Foreign Corrupt Practices Act.
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News Brief
FTC bans Outlogic from selling sensitive location data in landmark action
Data broker Outlogic will be subject to the Federal Trade Commission’s first ban on the use, sale, or disclosure of sensitive location data as part of a proposed order announced by the agency.
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News Brief
Report: Canada’s FINTRAC to increase reliance on AI
Canada’s financial intelligence agency aims to increase its use of artificial intelligence technology to improve its capabilities to analyze data and detect suspicious activity, according to an agency official.
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Opinion
Ten things I’d like to see happen in 2024
Election years in the United States, United Kingdom, and at European Parliament, along with ongoing geopolitical tensions, make 2024 difficult to predict—aside from the expectation compliance officers will be busy.
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News Brief
Atlantic Home Health Care to pay $10M over energy program false claims
Atlantic Home Health Care LLC agreed to pay nearly $10 million as part of a settlement with the Department of Justice addressing the alleged submission of false claims to the Department of Labor’s Energy Employees Occupational Illness Compensation Program.
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News Brief
Moffitt Cancer Center cooperation lauded in $20M DOJ false claims case
H. Lee Moffitt Cancer Center & Research Institute Hospital agreed to pay nearly $20 million as part of a settlement with the Department of Justice addressing alleged violations of the False Claims Act for improperly billing federal healthcare programs.
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Premium
Compliance lessons from Rite Aid facial recognition case
The Federal Trade Commission was clear in its recent enforcement action against Rite Aid regarding its expectations for companies using facial recognition technology or any biometric security or surveillance systems.
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News Brief
MAS fines Credit Suisse $3M for failing to monitor Singapore managers
The Monetary Authority of Singapore imposed a 3.9 million Singapore dollars (U.S. $3 million) penalty on Credit Suisse for failing to detect misconduct by relationship managers at its Singapore branch.
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News Brief
Reports: BNP Paribas involved in French money laundering probe
French authorities are investigating alleged “aggravated money laundering” contained in transfers between a BNP Paribas affiliate and a Cypriot brokerage firm that might have benefitted a Russian warlord, according to media reports.
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News Brief
LPL Financial fined $5.5M by FINRA over transaction supervision lapses
Independent broker-dealer LPL Financial agreed to pay more than $6 million as part of a settlement with the Financial Industry Regulatory Authority addressing alleged supervision failures regarding direct business transactions and the suitability of switch transactions.
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News Brief
Interactive Brokers fined $3.5M in FINRA action
Electronic trading platform Interactive Brokers received a $3.5 million penalty from the Financial Industry Regulatory Authority for multiple alleged violations of the self-regulatory organization’s rules regarding execution and supervision.
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News Brief
OEP Capital Advisors fined $4M over policy failures
OEP Capital Advisors agreed to pay a $4 million penalty as part of a settlement with the Securities and Exchange Commission addressing alleged deficiencies regarding the prevention of misuse of material nonpublic information.
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News Brief
SEC fines UAE-based Brooge Energy $5M in fraud case
Brooge Energy agreed to pay $5 million in a settlement with the Securities and Exchange Commission resolving fraud charges related to a scheme to inflate revenues.
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News Brief
PURE Insurance to pay $466K in OFAC sanctions case
Insurance organization Privilege Underwriters Reciprocal Exchange agreed to pay $466,200 as part of a settlement with the Office of Foreign Assets Control addressing alleged sanctioned transactions on behalf of designated Ukrainian-Russian oligarch Viktor Vekselberg.
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News Brief
CFTC names chief data officer to boost analytic capabilities
The Commodity Futures Trading Commission announced two appointments to its Division of Data designed to help the agency leverage analytics and emerging technologies to improve its policymaking and oversight efforts.
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News Brief
Philips unit settles DOJ false claims case for $14.7M
Wireless medical technology company BioTelemetry and its subsidiary LifeWatch Services agreed to pay more than $14.7 million as part of a settlement with the Department of Justice regarding alleged false claims submitted to federal healthcare programs.
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News Brief
Rite Aid gets 5-year facial recognition use ban from FTC
Retail pharmacy chain Rite Aid agreed to a five-year ban on its use of facial recognition technology for surveillance purposes as part of a settlement with the Federal Trade Commission.
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News Brief
Community Health Network to pay $345M in historic Stark Law case
Indiana-based Community Health Network agreed to pay $345 million as part of a settlement with the Department of Justice resolving allegations it overcompensated physicians it employed at a rate that violated the Stark Law.