All Regulatory Enforcement articles – Page 95
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ArticleGoldman Sachs reaches $4B 1MDB settlement with Malaysia
Goldman Sachs reached a nearly $4 billion agreement in principle with the Government of Malaysia to resolve all criminal and regulatory proceedings related to three 1MDB bond transactions.
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ArticleFirst American first charged with NYDFS cyber-regulation abuses
First American Title Insurance Company has become the first firm to face charges alleging violations of the New York State Department of Financial Services’ Cybersecurity Regulation.
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Article
SEC fines UBS $10M over municipal bond offerings
UBS Financial Services has agreed to pay more than $10 million to resolve SEC charges that it circumvented the priority given to retail investors in certain municipal bond offerings.
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ArticleExelon subsidiary ComEd to pay $200M in lobbying, bribery case
Commonwealth Edison will pay a $200 million fine as part of a deferred prosecution agreement with the Department of Justice to resolve a criminal investigation into a years-long bribery scheme concerning lobbying practices in Illinois.
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ArticleMedical device maker projects $18M to settle FCA violations alleged by former CCO
Evidence of kickbacks and bribes brought to light by a whistleblower and former chief compliance officer has led Merit Medical Systems to reach an estimated $18 million agreement in principle with the DOJ to settle False Claims Act allegations.
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ArticleColorado investment firm fined $200K for inadequate compliance procedures
A Colorado-based investment advisory firm has been fined $200,000 and ordered by the SEC to improve its compliance practices regarding the purchase of securities on behalf of certain institutional investors.
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ArticleCigarette filter maker agrees to first-ever U.S.-North Korea sanctions DPA
A cigarette filter maker has entered into the first-ever U.S.-North Korea DPA with the Justice Department for sanctions violations and agreed to pay a fine of $665,112 to the Treasury Department’s Office of Foreign Assets Control.
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ArticleNailed It or Failed It? Twitter’s meltdown exposes major vulnerability
In this week’s “Nailed It or Failed It?”, we reflect on the most troubling aspect of Wednesday’s giant Twitter hack while giving Wells Fargo a rare kudos for being good corporate citizens.
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ArticleItalian telecom fined $18.6M for violating GDPR data collection rules
Italian telecommunications operator Wind Tre S.p.A has been fined approximately €16.7 million (U.S. $18.6 million) for violating data collection provisions of the EU’s General Data Protection Regulation.
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Google fined $670K for violating GDPR’s ‘right to be forgotten’
Belgium’s Data Protection Authority fined Google Belgium €600,000 (U.S. $670,000) for refusing to delete search results linked to a Belgian public official, a provision of the GDPR know as the “right to be forgotten.”
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ArticleSFO secures two Unaoil convictions, but judge critical of director
Following a four-year investigation, the U.K. Serious Fraud Office has secured convictions against two former Unaoil executives for bribes made to win oil services contracts in Iraq, although the presiding judge ordered a review into how SFO Director Lisa Osofsky led the case.
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Article
Universal Health Services settles FCA allegations for $122M
Whistleblowers will receive a $16.7 million payday as part of a $122 million settlement between the Department of Justice and Universal Health Services.
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ArticleG4S reaches proposed deferred prosecution agreement with SFO
A U.K. subsidiary of G4S has reached a proposed deferred prosecution agreement with the Serious Fraud Office to resolve an investigation into fraudulent contract activity with the U.K. Ministry of Justice.
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Article
Supreme Court to consider scope of FTC enforcement authority
The Supreme Court agreed to hear a case that will decide whether the FTC can seek to recoup funds unlawfully obtained by individuals and companies resulting from violations of consumer protection laws.
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ArticleFCPA Resource Guide revision a gold mine for compliance officers
The first update to the SEC and Justice Department’s FCPA Resource Guide since it was published in 2012 includes several clarifications intended to benefit chief compliance officers and in-house counsel.
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Grant Thornton UK fined $2.4M for ethical, independence failures
The U.K. Financial Reporting Council fined Grant Thornton £1.95 million (U.S. $2.4 million) for firmwide ethical and independence failures concerning an audit of alcohol retailer Conviviality Retail.
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ArticleAmazon pays $135K to settle OFAC screening violations
Amazon will pay approximately $135,000 as part of a settlement with the Office of Foreign Assets Control regarding apparent sanctions violations derived from deficient screening processes.
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ArticleDeutsche Bank rightly paying the price for looking the other way on Epstein
In terms of Know Your Customer, Deutsche Bank knew what it had with Jeffrey Epstein. It just didn’t care enough to do anything about it.
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ArticleDeutsche dinged $150M for compliance failures related, in part, to Jeffrey Epstein
Deutsche Bank will pay $150 million in penalties under a consent order with New York State for “significant compliance failures” regarding, in part, its former relationship with accused child sex trafficker Jeffrey Epstein.
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ArticleNovartis’ latest settlements: $729M in kickback charges
A week after resolving FCPA investigations for $347 million, Swiss pharmaceutical drug maker Novartis will pay another $729 million in separate settlements related to kickback schemes.