All Regulatory Enforcement articles – Page 81
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ArticleGerman finance regulator orders N26 to improve AML controls
BaFin, Germany’s market regulator, has ordered mobile bank N26 to improve its anti-money laundering controls, taking the unusual move to appoint a “special commissioner” to monitor its progress.
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ArticleSEC fines broker-dealer $1.5M for SARs filing failures
GWFS Equities will pay $1.5 million as part of a settlement with the SEC for lapses in the filing of suspicious activity reports related to the threat of cyber-breaches.
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ArticleJames Comey: Lessons from Enron era will ‘become real again’
Former FBI Director James Comey kicked off Compliance Week’s 16th annual National Conference on Tuesday by speaking candidly about a variety of risk and compliance matters, including the importance of a strong ethical culture in the coming post-pandemic “boom times.”
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ArticleDOJ joins SFO in corruption probe of Bombardier
The U.S. Department of Justice has joined the U.K. Serious Fraud Office in an ongoing investigation into plane maker Bombardier over suspected bribery and corruption relating to contracts and orders from airline carrier Garuda Indonesia.
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ArticleDOJ closes FCPA investigation into Pactiv Evergreen
Pactiv Evergreen said it will not face an enforcement action by the Department of Justice, following an internal investigation launched last year into potential violations of the Foreign Corrupt Practices Act.
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ArticleMonitor certifies MoneyGram’s AML program after lengthy DPA
MoneyGram International stated in a regulatory filing it has fulfilled its obligations under a DPA it entered with the Department of Justice eight years ago, and its AML program was given a thumbs-up by its compliance monitor.
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ArticleNorway’s DNB fined $48.1M for AML violations
DNB ASA, Norway’s largest financial services group, will pay a fine of NOK 400 million ($48.1 million) for failing to adhere to Norwegian Anti-Money Laundering Act standards.
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ArticleUnder Armour to pay $9M to settle SEC accounting probe
Under Armour agreed to pay $9 million to settle charges brought by the SEC concerning accounting practices by the sports apparel company that rendered statements it made misleading.
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ArticleDeutsche Bank ordered to further improve AML controls
BaFin, Germany’s market regulator, signaled Deutsche Bank still has more to do concerning previously ordered improvements to its AML compliance controls.
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ArticleSEC settles with 8 companies over untimely reporting disclosures
The Securities and Exchange Commission announced settlements with eight companies for incomplete reporting related to “not timely” form disclosures.
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ArticleSAP to pay over $8M for admitted Iran sanctions violations
German software company SAP SE agreed to pay more than $8 million in combined penalties issued by three U.S. agencies after admitting to committing numerous violations of sanctions against Iran.
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DOJ FCPA head Christopher Cestaro to depart for WilmerHale
Christopher Cestaro, chief of the Justice Department’s FCPA Unit, is set to depart the agency for a partner position with law firm WilmerHale.
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ArticleMoneyGram plagued by tech, human error in OFAC sanctions settlement
The Office of Foreign Assets Control announced a $34,329 settlement with MoneyGram Payment Systems for apparent violations of multiple sanctions programs, including the processing of transactions involving Syria.
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New SEC enforcement head Alex Oh resigns for personal reasons
Alex Oh resigned as head of the Securities and Exchange Commission’s Enforcement Division for personal reasons after less than one full week on the job.
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ArticleAirbus subsidiary GPT pleads guilty to corrupt acts in Saudi Arabia
Airbus subsidiary GPT Special Project Management will pay approximately £30.3 million (U.S. $42.1 million) after pleading guilty to corruption relating to contracts it was awarded for work carried out in Saudi Arabia.
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ArticleFirstEnergy could face DPA in corruption scandal settlement
FirstEnergy has begun discussions with the U.S. Attorney’s Office regarding resolution of the Ohio nuclear bailout federal corruption scandal, including possibility of a deferred prosecution agreement.
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ArticleU.K. rolls out new anti-corruption sanctions regime
The United Kingdom has in place a new global anti-corruption sanctions regime, and the government is wasting no time enforcing it, imposing its first wave of sanctions against 22 individuals.
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ArticleSFO strikes out again in Serco execs case
Two former executives at security company Serco were acquitted of defrauding the U.K.’s Ministry of Justice after the Serious Fraud Office failed to disclose documents to the defense.
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Supreme Court limits FTC’s power to recoup ill-gotten gains
The Supreme Court ruled the Federal Trade Commission cannot seek to recover funds unlawfully obtained by individuals and companies resulting from violations of consumer protection laws.
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SEC appoints Alex Oh to lead Enforcement Division
The Securities and Exchange Commission has named Alex Oh to lead an Enforcement Division expected to be more aggressive under new Chair Gary Gensler.