All Regulatory Enforcement articles – Page 62
-
ArticleVMware to pay $8M to settle SEC charges over misleading financials
Cloud services provider VMware will pay $8 million to settle allegations from the Securities and Exchange Commission it misled investors by hiding its lagging financial performance.
-
Article
Court orders $2M from Ambassador Advisors and execs, including CCO
Ambassador Advisors and three of its executives, including its chief compliance officer, must pay a total of more than $2 million for failing to disclose conflicts of interest related to fees received from mutual fund share classes selected for clients.
-
ArticleFormer Contech exec imprisoned 18 months for bid-rigging scheme
Brent Brewbaker, a former executive for civil engineering firm Contech Engineered Solutions, was sentenced to 18 months in federal prison for his role in a long-running bid-rigging scheme in North Carolina.
-
ArticleOpioid cases against retail pharmacy chains yield compliance lessons
Two cases involving five retail pharmacy chains winding their way through court foretell a long and costly road ahead for all companies across the pharmaceutical supply chain battling litigation for their alleged roles in fueling the opioid epidemic.
-
ArticleU.S. sanctions Iran intelligence ministry over Albania cyberattack
Iran’s minister of intelligence, together with its Ministry of Intelligence and Security, were sanctioned by the Treasury Department’s Office of Foreign Assets Control for malicious cyber activities that threaten the national security of the United States and its allies.
-
ArticleNine fined in SEC crackdown on custody rule, Form ADV
Nine investment advisers failed to follow Securities and Exchange Commission rules designed to keep clients’ assets safe and/or timely disclose financial updates following audits, the agency announced.
-
Article
Perceptive Advisors fined $1.5M for SPACs conflicts, disclosure violations
Perceptive Advisors agreed to pay $1.5 million for allegedly steering clients toward special purpose acquisition companies its investment advisers had financial interests in and failing to disclose those conflicts in a timely fashion.
-
Article
Aventura Capital to pay nearly $1M over conflict disclosure lapses
Florida-based investment firm Aventura Capital Management agreed to return more than $700,000 to harmed investors and pay a $225,000 fine for failing to disclose conflicts of interest regarding its mutual fund share class selection process.
-
ArticleNatixis agrees to $2.8M CFTC fine for oversight failures
Natixis, a Paris-based global bank and swap dealer, will pay a $2.8 million fine to the Commodity Futures Trading Commission to settle charges it failed to prevent rogue traders from submitting false and misleading entries on trades over five years.
-
ArticleBayer to pay $40M to settle long-running false claims suits
Bayer agreed to pay $40 million to settle allegations its sales team paid kickbacks to hospitals and doctors for prescribing its drugs and that the pharmaceuticals company downplayed risks regarding certain of its offerings.
-
ArticleInstagram facing record $401M fine over children’s privacy violations
Instagram is set to be fined €405 million (U.S. $401 million) by Ireland’s data protection regulator for failing to adequately secure teenage users’ data in line with the General Data Protection Regulation.
-
ArticlePhilips subsidiary to pay $24M for kickback violations
Philips RS North America agreed to pay more than $24 million to settle allegations it paid kickbacks to medical equipment suppliers to push its products ahead of other brands that are provided to patients of federal health programs.
-
Article
CHS avoids fine in SEC accounting fraud case
Minnesota-based agricultural cooperative CHS settled charges levied by the Securities and Exchange Commission that the company violated federal securities laws when it filed materially false financial statements with the agency over five years.
-
ArticleWells Fargo ordered to pay ex-manager $22M in SOX whistleblower case
Wells Fargo must pay more than $22 million to a former senior banking executive who alleged to the Occupational Safety and Health Administration they were retaliated against for blowing the whistle on financial misconduct.
-
ArticleUpheld ex-Alstom exec’s acquittal affirms ‘setback’ for FCPA’s reach
The latest development in the nearly decadelong Lawrence Hoskins court case has the potential to open the door for foreign nationals involved in aiding U.S. companies with foreign bribery schemes to escape liability under the Foreign Corrupt Practices Act, according to experts.
-
ArticleEU countries take varied approaches to combating greenwashing
European regulators are taking greater steps to clamp down on companies’ misleading ESG claims, but experience shows different countries have differing priorities about tackling dishonest marketing.
-
ArticleWise fined $360K for AML failures in Abu Dhabi
International money transfer company Wise will pay a $360,000 penalty for failing to abide by Abu Dhabi’s anti-money laundering rules over a two-year period, the Financial Services Regulatory Authority of Abu Dhabi Global Market announced.
-
ArticleKPMG South Africa, two partners fined $275K for using unregistered firm
The Public Company Accounting Oversight Board fined KPMG South Africa and two of its partners a total of $275,000 for supervisory failures and violation of accounting rules related to the use of an unregistered accounting firm.
-
ArticleSEC fines ex-PPG controller $100K over accounting improprieties
The Securities and Exchange Commission ordered Mark Kelly, the former principal accounting officer and controller at PPG, to pay $100,000 for accounting improprieties aimed at inflating the painting supply company’s earnings per share.
-
ArticleFTC sues Kochava for collecting, selling mobile phone user data
Data broker Kochava has been sued by the Federal Trade Commission for selling geolocation data on hundreds of millions of mobile phone customers that could unveil sensitive personal information without their knowledge or consent.