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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2022-09-07T13:21:00
Natixis, a Paris-based global bank and swap dealer, will pay a $2.8 million fine to the Commodity Futures Trading Commission (CFTC) to settle charges it failed to prevent rogue traders from submitting false and misleading entries on trades over five years.
Traders on Natixis’ New York-based interest rate derivatives desk (IRD desk) and equity derivatives flow and solution trading desk (FAST desk) mismarked their positions “for the purpose of either inflating profits and minimizing losses or to ‘smooth’ out returns,” from 2015-19, the CFTC said in a press release Tuesday. The agency said Natixis failed to properly monitor the activities of the traders, who were able to manipulate the firm’s internal recordkeeping and accounting system without being detected.
Natixis cooperated with the investigation, the CFTC noted, leading to a decreased fine.
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2024-07-02T20:35:00Z By Adrianne Appel
Three former executives of Chicago-based Outcome Health, a healthcare technology company, were sentenced for misleading an auditor, clients, lenders, and investors about a scheme to sell $45 million in overbilled advertisements.
2024-07-02T19:43:00Z By Aaron Nicodemus
The U.S. Supreme Court extended the statute of limitations for businesses attempting to challenge some federal regulations, allowing regulated entities a longer timeline to appeal a decision.
2024-07-02T14:42:00Z By Adrianne Appel
A home health company operating in Indiana, Ohio, and Texas agreed to pay nearly $4.5 million to settle allegations it filed false claims by giving sports tickets and other kickbacks to assisted living facilities in exchange for referrals.
2024-07-02T13:50:00Z By Aaron Nicodemus
Crypto-friendly Silvergate Bank will pay a total of $63 million penalties to California and the Federal Reserve Board to settle charges that its anti-money laundering program failed to properly monitor more than $1 trillion worth of customer transactions.
2024-07-01T21:14:00Z By Adrianne Appel
A Minnesota dermatology practice, its owner, and chief executive agreed to pay $1.6 million to settle allegations, first brought by two whistleblowers, that the company violated the Anti-Kickback Statue by making false claims to Medicare.
2024-06-27T16:56:00Z By Jeff Dale
Italy-based Mondo TV agreed to pay $538,000 to settle charges with the Treasury Department’s Office of Foreign Assets Control over 18 apparent violations of North Korea sanctions regulations.
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