All United States articles – Page 135
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ArticleSarbanes-Oxley 20th anniversary: Time to revisit SOX programs
Twenty years ago, in the aftermath of the Enron and WorldCom financial reporting scandals, Congress acted and created the Sarbanes-Oxley Act of 2002. Such a milestone anniversary marks a good time for organizations to refresh, rethink, and modernize their SOX programs.
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ArticleEx-JPMorgan traders found guilty in spoofing case
Gregg Smith and Michael Nowak, former precious metals traders at JPMorgan Chase, were found guilty of fraud, attempted price manipulation, and spoofing as part of a near decade-long market manipulation scheme involving thousands of illegal trades.
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ArticleSEC, CFTC propose large hedge funds provide more financial disclosure
The SEC and CFTC proposed expanding Form PF disclosure requirements for large hedge funds to include more information on their investment strategies, investment exposure, open positions, and borrowing arrangements with counterparties, among other areas.
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Crum & Forster adds chief risk officer
Crum & Forster, a national property and casualty insurance company, announced the appointment of Nick Cook to the newly created role of chief risk officer.
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ArticleBIS charges Chinese cable giant with export control violations
The Commerce Department’s Bureau of Industry and Security charged China’s largest cable and wire manufacturer Far East Cable with export control violations related to its alleged dealings with telecommunications company ZTE to circumvent U.S. restrictions against Iran.
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JetBlue’s new associate general counsel to head compliance, privacy
Airline JetBlue announced the appointment of Renée Anckner as vice president, associate general counsel. She will serve as the company’s principal compliance and privacy officer in this role.
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ArticleDOJ-informed compliance guidance helps Home Depot prep for potential scrutiny
How can a company prove its compliance bona fides to a regulator, should one ever come knocking on its door? The Home Depot has prepared for such a scenario with detailed guidance pegged to the DOJ’s “Evaluation of Corporate Compliance Programs.”
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Benefytt to refund $100M to customers who paid for sham health plans
The Federal Trade Commission ordered Florida-based Benefytt Technologies to refund $100 million to consumers who received sham healthcare insurance plans bundled with services they did not order.
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RE/MAX Holdings names general counsel, chief compliance officer
Real estate brokerage RE/MAX Holdings announced the appointment of Susie Winders as general counsel, chief compliance officer, and secretary.
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ArticleSenators demand answers from U.S. Bank on fake accounts scandal
Democratic senators are calling on U.S. Bank to answer questions before a Senate committee regarding an alleged fake accounts scandal the bank recently paid $37.5 million to settle.
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ArticleMorgan Stanley reaches $200M agreement over unauthorized electronic messages
Morgan Stanley has reached agreements in principle totaling $200 million with the SEC and CFTC to settle charges its employees used messaging platforms not approved by the financial services company.
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ArticleRoundup: Goldman Sachs, Citi, Robinhood disclose regulatory investigations
Goldman Sachs Group, Citigroup, and Robinhood Markets each issued quarterly filings disclosing regulatory investigations they are respectively facing into varied business practices.
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ArticleAlbemarle in settlement talks with SEC, DOJ over FCPA violations
Chemical company Albemarle Corp. has entered settlement talks with the Securities and Exchange Commission and Department of Justice regarding potential violations of the Foreign Corrupt Practices Act.
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ArticleCrypto regulation back in spotlight after SEC securities claims
The Securities and Exchange Commission’s move to classify nine cryptocurrencies as securities as part of insider trading charges it brought against a former Coinbase manager has touched a nerve with other regulators, particularly the Commodity Futures Trading Commission.
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Blackstone names CCO for secured lending, private credit funds
Blackstone announced the appointment of William Renahan to chief compliance officer for its secured lending and private credit funds.
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ArticleSurgalign to pay $2M to settle accounting fraud charges
Medical implant manufacturer Surgalign will pay a $2 million penalty handed down by the SEC and recoup nearly $600,000 in incentive-based compensation from four senior executives who allegedly manipulated the company’s financial statements.
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ArticleProposed NIST cybersecurity guide incorporates HIPAA Security Rule
The National Institute of Standards and Technology is seeking comment on proposed guidance intended to help healthcare organizations that fall under the regulatory umbrella of the Health Insurance Portability and Accountability Act’s Security Rule.
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ArticleBain banned from U.K. government contracts over South Africa corruption scandal
Global management consultancy Bain & Co. was barred from competing for U.K. government contracts for three years following its role in a corruption scandal involving South Africa’s national tax offices.
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ArticleWells Fargo confirms DOJ probe into diversity hiring practices
Wells Fargo disclosed in a regulatory filing the Department of Justice has opened an investigation into the bank’s “hiring practices related to diversity.”
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ArticleSEC: Adherence to Reg BI should be embedded in compliance culture
Staff at the Securities and Exchange Commission warned investment advisers and broker-dealers they must continually identify, mitigate, and disclose all conflicts of interest regarding advice they make to retail investors to remain in compliance with Regulation Best Interest.