- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jaclyn Jaeger2020-05-08T15:45:00
Dietary supplement maker Herbalife said in a regulatory filing it has set aside a total of $123 million in accrued liability concerning SEC and DOJ investigations into alleged violations of the Foreign Corrupt Practices Act in China.
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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.
Dietary supplement maker Herbalife said in a regulatory filing it has set aside $40 million in accrued liability concerning an investigation into the company’s compliance with the Foreign Corrupt Practices Act in China.
The DOJ has charged two former executives of Herbalife with violations of the Foreign Corrupt Practices Act for bribing Chinese government officials for over a decade and then trying to cover up the illicit payments.
Purported “testimonial and review” service Rytr agreed to stop selling its program that used artificial intelligence to create fake content as part of a consent order with the Federal Trade Commission.
Bank of America avoided a monetary penalty in agreeing to settle charges with the Treasury Department’s Office of the Comptroller of the Currency but was ordered to shore up previously disclosed deficiencies in its Bank Secrecy Act/anti-money laundering (BSA/AML) and sanctions compliance programs.
Aviation maintenance services provider AAR Corp. will pay nearly $56 million to settle charges that it violated the Foreign Corrupt Practices Act when it paid bribes to government officials in Nepal and South Africa.
