- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2021-11-08T18:59:00
The Supreme Court turned down a bid by brokerage firm Alpine Securities Corp. petitioning for review of the Securities and Exchange Commission’s power to enforce the Bank Secrecy Act.
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A brokerage firm petitioning the Supreme Court to review the power of the SEC to enforce the Bank Secrecy Act has received support from two former officials of the primary agency tasked with overseeing the AML law.
The U.S. Supreme Court reaffirmed the SEC’s authority to recoup profits obtained from fraudulent schemes but limited the scope of what can be sought through disgorgement.
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.
A Minnesota transportation company agreed to pay nearly $258,000 to settle allegations that a subsidiaries violated sanctions against Cuba and Iran more than 80 times, the U.S. Treasury Department’s Office of Foreign Assets Control said.
