- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Neil Hodge2020-09-09T15:00:00
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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While EU regulators have not engaged in investigations yet or launched many (or any) coronavirus-related enforcement actions, lawyers warn they will do so later down the line and believe they will tackle “worst offenders” first.
Due diligence, data, solvency, and supply chain management risks are just some of the issues Europe’s employers are struggling with as normal business has come to a standstill during the coronavirus pandemic.
Although the coronavirus situation is constantly changing, lawyers say there are several areas of corporate life that are going to test compliance officers and which management will need greater assurance on.
USAA Federal Savings Bank has been hit with its third cease and desist order from the Treasury Department’s Office of the Comptroller of the Currency in the past five years for failing to correct unsafe and unsound banking practices.
Becton Dickinson medical device company will pay $175 million for “repeatedly” misleading investors about its Alaris infusion pump, a product the company knew was flawed and was sold without the required patient-safety approvals, the Securities and Exchange Commission said.
The Securities and Exchange Commission charged bankrupt fashion retailer Express with failing to disclose nearly $1 million in perks to a former chief executive, but did not levy a financial penalty thanks to its cooperation, the SEC said.
