- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jeff Dale2024-02-05T22:15:00
Westpac Banking Corp. was assessed a maximum fine of 1.8 million Australian dollars (U.S. $1.2 million) to address charges levied by the Australian Securities and Investments Commission (ASIC) of insider trading related to an interest rate swap transaction.
Westpac must also pay AUS$8 million (U.S. $5.2 million) to cover litigation and investigation costs, ASIC announced in a press release Jan. 31. Australia’s Federal Court sided with the regulator in the case.
ASIC noted because of the alleged misconduct occurring in October 2016, the maximum penalty was significantly lower. The current penalty for similar misconduct is about AUS$15.7 million (U.S. $10.2 million) minimum for corporations and AUS$782.5 million (U.S. $507.3 million) maximum for large entities.
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A bank examiner and senior manager at the Federal Reserve Bank of Richmond pled guilty to insider trading after allegedly misappropriating confidential information on seven banks to make profitable trades.
The Securities and Exchange Commission fined Charter Communications $25 million for violating internal accounting control requirements related to stock buybacks.
The Department of Justice and Securities and Exchange Commission announced charges against a dozen individuals across four separate insider trading cases, including an alleged scheme involving the chief compliance officer of an international payment processing company.
New York-based investment firm Drexel Hamilton will pay more than $1.1 million in penalties, with four current and former employees paying fines as well over committing hundreds of violations of rules regarding the sale of municipal bonds.
A publicly traded cryptocurrency mining company will pay $10 million and completely change its business model to one with “lower corruption risk” as part of a settlement over violations of the Foreign Corrupt Practices Act (FCPA), two regulators announced.
A subsidiary of MetLife will pay more than $178,000 for violating U.S. sanctions on Iran when it provided insurance policies to entities in the United Arab Emirates owned or controlled by Iran.
