All Regulatory Enforcement articles – Page 44
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News BriefFlutter Entertainment to pay $4M for legacy FCPA violations
Ireland-based gaming and sports betting company Flutter Entertainment will pay a $4 million fine to resolve SEC charges payments made to Russian consultants by a company it acquired violated the Foreign Corrupt Practices Act.
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News BriefSEC orders Rio Tinto to pay $15M over FCPA violations
U.K.-based mining and minerals company Rio Tinto will pay a $15 million fine to settle charges of violating the Foreign Corrupt Practices Act when it entered into a scheme with a consultant in 2011 to bribe government officials in Guinea.
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News BriefSEC fines broker-dealer $100K over SARs reporting failures
Cambria Capital agreed to pay $100,000, hire an independent anti-money laundering consultant, and be censured for failing to file suspicious activity reports on certain transactions over a two-year period, according to the Securities and Exchange Commission.
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News BriefEricsson to pay $207M for breaches of 2019 DPA over FCPA violations
Swedish telecommunications company Ericsson agreed to pay nearly $207 million following two breaches of its 2019 deferred prosecution agreement with U.S. authorities.
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News BriefDOJ sets new compliance criteria for criminal investigations
The Department of Justice announced changes to its evaluation procedures for corporate compliance programs in criminal investigations, including monitoring off-channel messaging by employees, executive compensation programs, and how the agency selects compliance monitors.
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News Brief
DOJ to implement new clawback, compensation policies for corporate settlements
Corporate resolutions involving the Department of Justice’s Criminal Division will now include a requirement the resolving company develop compliance-promoting criteria within its compensation and bonus system, according to Deputy Attorney General Lisa Monaco.
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News BriefFTC proposes BetterHelp pay $7.8M for sharing health data
The Federal Trade Commission proposed requiring online counseling service BetterHelp to pay $7.8 million as part of a settlement addressing charges it shared clients’ personal health data with Facebook, Snapchat, and other third parties for advertising purposes.
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News BriefGodfrey Phillips India to pay $333K in North Korea sanctions case
Tobacco company Godfrey Phillips India agreed to pay $332,500 to the Office of Foreign Assets Control to settle charges it violated U.S. sanctions by involving U.S. banks and bank personnel in payments for shipments to North Korea.
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News BriefGreenbrier Companies fined by SEC over CEO perk disclosures
Greenbrier Companies and its former chief executive officer will pay a total of $1.1 million to settle charges from the Securities and Exchange Commission the firm failed to disclose perks related to the use of a private jet owned by the CEO.
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News BriefItalian DPA fines Edison Energia $5.2M over GDPR lapses
The Italian data protection authority penalized electric utility company Edison Energia for multiple alleged violations of the General Data Protection Regulation regarding marketing communications and data processing transparency.
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OpinionLegacy of CCPA: A blueprint for prioritizing compliance
Three years in, the promise of the California Consumer Privacy Act as a means of handing down eye-watering penalties against companies for data protection violations remains unfulfilled. And yet, the expanding U.S. data privacy legislation landscape is better for this.
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News BriefEx-CCO gets three years in prison for wire fraud
A former chief compliance officer of an unnamed New York-based investment adviser was sentenced to three years in prison for defrauding clients and her employer.
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News BriefMarcum partner accused of PCAOB standard violations at FTE Networks
Marcum partner Alan Markowitz was accused of violating standards of the Public Company Accounting Oversight Board when he took a client’s false representations at face value during an audit without seeking more information.
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News BriefFINMA: Credit Suisse ‘seriously breached’ duty regarding Greensill
Poor risk management by Credit Suisse’s asset management company kept the bank mostly unaware of the risky nature of lending procedures used by Lex Greensill that would lead to the collapse of Greensill Capital, according to Switzerland’s Financial Market Supervisory Authority.
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Blog
CFTC names new head of enforcement
The Commodity Futures Trading Commission announced the appointment of longtime federal prosecutor Ian McGinley as the agency’s new director of enforcement.
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PremiumCalifornia ‘setting the tone’ for privacy push with CPRA updates
Changes to the California Consumer Privacy Act set to come over the course of 2023 strengthen the nation’s first comprehensive state privacy law to a benchmark no other states have yet to equal.
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News BriefHHS creates new enforcement office for health privacy
The Department of Health and Human Services and its office responsible for enforcing health privacy reorganized so it can sharpen enforcement of cybersecurity and data breaches.
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News Brief
SEC commissioners question best execution ruling in Huntleigh Advisors case
Huntleigh Advisors and affiliate Datatex Investment Services agreed to pay $893,502 to settle charges laid by the Securities and Exchange Commission regarding failure to disclose conflicts of interest to their advisory clients over eight years.
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News BriefStanley Black & Decker discloses potential FCPA violations
Stanley Black & Decker voluntarily disclosed to the Department of Justice and Securities and Exchange Commission its international division might have violated the Foreign Corrupt Practices Act.
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PremiumRuling in Experian GDPR case thrusts ‘legitimate interest’ into spotlight
Experian won a legal battle against the U.K. Information Commissioner’s Office after the data regulator ordered the credit reference agency to make “fundamental changes” over the way it handled personal data for direct marketing purposes or stop altogether.