All Regulatory Enforcement articles – Page 75
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ArticleDOJ’s Daniel Kahn talks FCPA, evaluation of compliance, more
Daniel Kahn, acting chief of the Department of Justice’s Fraud Section, discussed the Foreign Corrupt Practices Act, evaluating companies’ investments in compliance, and more at Compliance Week’s Financial Crimes virtual event.
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ArticleOFAC fines Nordgas $950K for Iran sanctions violations
Italian company Nordgas, a producer and seller of components for gas boiler systems and applications, has agreed to pay $950,000 for apparent sanctions violations related to the sale of air pressure switches in Iran.
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Article
Enforcement an option as LIBOR deadline nears
Examiners from the Federal Reserve are being encouraged to consider supervisory actions against firms not ready to stop issuing LIBOR-based contracts by Dec. 31.
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ArticleWestpac considering New Zealand unit demerger amid risk review
Westpac is assessing a demerger from its New Zealand business after the Reserve Bank of New Zealand ordered the unit to commission two independent reports concerning the bank’s liquidity and risk governance processes.
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ArticleEx-GPB Capital CCO avoids prison in SEC theft case
A former SEC examiner who used insider information about an ongoing fraud investigation to obtain the chief compliance officer job with private equity firm GPB Capital has been sentenced to nine months of home confinement.
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ArticleLocal laws proving to be roadblocks for GDPR harmonization
Recent cases in Germany, France, and Austria underscore the difficulty of getting EU members on the same page regarding GDPR enforcement—particularly when other local laws take priority.
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ArticleCFTC fines Coinbase $6.5M for inaccurate reporting, wash trading
Coinbase agreed to pay a $6.5 million civil penalty to settle charges from the Commodity Futures Trading Commission for reporting violations and improper trading activity by a former employee.
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ArticlePopular Clubhouse app being probed for GDPR violations
France’s data privacy watchdog adds to a growing list of regulators that have launched investigations into Alpha Exploration, the publisher of the Clubhouse application, regarding measures it has taken (or not taken) to comply with the GDPR.
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ArticleToyota discloses ‘possible anti-bribery violations’ to U.S. authorities
Toyota said in a regulatory filing it has “reported possible anti-bribery violations related to a Thai subsidiary” to U.S. enforcement agencies.
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ArticleSFO closes bribery investigation into KBR’s U.K. subsidiaries
The Serious Fraud Office announced it closed its bribery and corruption investigation into the activities of KBR’s British subsidiaries and employees, weeks after the U.K. Supreme Court unanimously ruled the agency breached its authority in the case.
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ArticleItalian court acquits Eni, Shell of corruption charges
An Italian court acquitted oil companies Royal Dutch Shell and Eni and a group of current and former executives of corruption charges surrounding a widespread bribery scheme to acquire oil exploration rights in Nigeria.
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ArticleOch-Ziff ex-CFO fined $35K for role in bribery case
The former chief financial officer at then-Och-Ziff Capital Management Group has agreed to pay $35,000 in a settlement with the SEC for his role in the firm’s notorious bribery scheme.
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ArticleABN AMRO facing new charges in money laundering probe
ABN AMRO is facing new charges from Dutch prosecutors that imply the bank is suspected of knowing of money laundering activities perpetrated by its customers without intervening.
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ArticleJohn Wood Group earmarks $197M for global bribery settlement
Scotland-based multienergy services company John Wood Group is in “advanced stage” settlement talks with authorities in the United States, the United Kingdom, and Brazil regarding legacy bribery and corruption investigations.
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ArticleU.S., U.K. enforcement heads praise coordination in corruption cases
Daniel Kahn of the U.S. Department of Justice and Lisa Osofsky of the U.K. Serious Fraud Office discuss how enforcement agencies expect closer cooperation through 2021 in the global fight against bribery and corruption.
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ArticleNatWest facing criminal charges in landmark U.K. money laundering case
The U.K. Financial Conduct Authority has brought criminal proceedings against National Westminster Bank concerning alleged violations of the 2007 Money Laundering Regulations—a first for the regulator.
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ArticleOFAC fines UniControl $216K for Iran sanctions violations
Ohio-based manufacturer UniControl will pay $216,464 for apparent U.S. sanctions violations that occurred when its European trade partners re-exported its products to Iran.
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ArticleCFPB flips on Trump-era abusive acts stance
The Consumer Financial Protection Bureau reversed a Trump administration policy on how it assesses and punishes abusive practices in the financial services industry.
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ArticleVodafone Spain fined record $9.72M for data protection failures
Vodafone Spain has been fined €8.15 million (U.S. $9.72 million) for aggressive telemarketing tactics and other data protection failures under the GDPR. The penalty is the highest the Spanish Data Protection Agency has handed out.
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ArticleU.K. sanctions body signals tougher enforcement with new guidance
Revised guidance by the U.K. Office of Financial Sanctions Implementation suggests the agency might be strengthening its current enforcement stance as it pertains to breaches of financial sanctions.