All Regulatory Enforcement articles – Page 98
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ArticleDeutsche Bank Trust to pay $583K in Ukraine sanctions settlements
Deutsche Bank Trust Company Americas has reached a pair of settlements with the Office of Foreign Assets Control totaling $583,100 for apparent violations of Ukraine-related sanctions.
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DOJ: 50 individuals criminally charged for PPP fraud, with ‘more to come’
The DOJ, together with a coalition of law enforcement partners, announced criminal charges against 50 individuals who allegedly committed fraud in obtaining money from the Paycheck Protection Program.
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ArticleEx-GPB Capital CCO pleads guilty to stealing SEC information
A former SEC official facing federal felony charges for allegedly using confidential agency information to help him land the top compliance post at GPB Capital Holdings has pled guilty to a misdemeanor in federal court.
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ArticleFirms could face enforcement as U.K. cracks down on furlough fraud
Companies are at risk of being investigated by the U.K.’s tax authority over fears that up to two out of every three employees worked during lockdown while their employers illegally claimed salaries from the government’s furlough program.
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ArticleFINRA sanctions Wells Fargo $2M over variable annuity switches
Two Wells Fargo subsidiaries were ordered to pay more than $2 million due to supervisory failures regarding the switching of customers’ variable annuities, the Financial Industry Regulatory Authority announced.
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ArticleCredit social media giants for prepping for election chaos
Silicon Valley’s social media heavyweights deserve a nod for “war-gaming” potential misinformation scenarios in advance of November’s elections, while McDonald’s again finds itself on our “Not Lovin’ It” list.
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ArticleCredit Suisse faces FINMA enforcement in corporate espionage case
Credit Suisse is learning the hard way that spying on former colleagues is frowned upon, following announcement of an enforcement proceeding against the Zurich-based bank by the Swiss Financial Market Supervisory Authority.
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Age of Learning to pay $10M for billing practices; ‘digital deception’ a trend?
The company that runs ABCmouse Early Learning Academy found itself in the FTC’s crosshairs for what the Commission alleges are unfair billing practices that are part of a wider problem across the internet.
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ArticleCompetition agencies to enhance coordination in antitrust enforcement
Six competition agencies from five countries signed a new framework that aims to enhance not only their cooperation and coordination in global antitrust investigations, but their information-sharing efforts as well.
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ArticleHerbalife finalizes $123M FCPA settlement with SEC, DOJ
Herbalife will pay $123 million to settle charges of violating the books-and-records and internal accounting controls provisions of the Foreign Corrupt Practices Act in China.
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ArticleCredit to KPMG for shining a light on fraud at Wirecard
A scathing report on the extensive fraud at German payment giant Wirecard had a compliance silver lining: KPMG’s by-the-books, transparent approach to a special audit helped bring that fraud to light.
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ArticleBorgWarner fined $950K by SEC for downplaying asbestos liabilities
Car parts manufacturer BorgWarner has agreed to pay $950,000 as part of a settlement with the SEC for allegedly failing to calculate and report $700 million in future asbestos liability claims.
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ArticleSEC bars CCO associated with alleged trading scheme
The Securities and Exchange Commission has permanently barred the former chief compliance officer of a once-registered brokerage firm for her role in an alleged fraudulent unauthorized trading scheme.
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ArticleSuper Micro Computer, former CFO charged with accounting violations
A California-based server and cloud computing firm has agreed to pay $17.5 million as part of a settlement with the SEC to resolve charges of improperly booked revenue and understated expenses.
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ArticleClash over draft Twitter GDPR decision exposes differences among EU authorities
As Ireland’s first GDPR decision against Big Tech hangs in limbo, experts are scratching their heads as to why a seemingly straightforward case is headed to the EU’s data governing body to rule on.
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ArticleMass. pharma company will pay $20.75M to settle FCA lawsuit
A Massachusetts-based pharmaceutical company will pay $20.75 million settle a whistleblower’s allegations that the company knowingly promoted misleading instructions for a skin lesion drug that caused doctors to submit false claims to Medicare.
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New DOJ office to monitor, evaluate compliance with antitrust judgments
A new office within the Antitrust Division will be tasked with monitoring corporate compliance initiatives connected with DOJ antitrust judgments, as well as evaluating whistleblower complaints regarding those judgments.
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NPB Financial Group to pay $1M for disclosure failures
NPB Financial Group has reached a $1 million settlement with the Securities and Exchange Commission to settle charges for breaches of fiduciary duty arising out of its mutual fund share-class selection practices.
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Uber’s former security chief charged in data breach cover-up
Uber’s former security chief has been charged in connection with an alleged cover-up of a 2016 data breach that compromised millions of people’s personally identifiable information.
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ArticleJury’s out on Wells Fargo compliance moves; Twitter #fail for Irish DPC
While it’s not yet clear whether Wells Fargo’s compliance moves (including the loss of its CCO) will pay off, we’re much more certain about the Irish Data Protection Commission’s stance on a potential Twitter fine.