All United States articles – Page 154
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ArticleMorgan Stanley agrees to $60M settlement over compromised personal data
Morgan Stanley has agreed to establish a $60 million fund to settle a class-action lawsuit filed by nearly a dozen customers regarding personal data that was compromised when the bank decommissioned two wealth management centers.
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ArticleAirbnb subsidiary to remit $91K for Cuba sanctions violations
Airbnb Payments, a registered money services business and wholly owned subsidiary of Airbnb, will remit $91,172.29 for apparent violations of sanctions against Cuba, OFAC announced.
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FDIC Chair Jelena McWilliams to resign after partisan feud
Jelena McWilliams will resign as chair of the Federal Deposit Insurance Corp. on Feb. 4, following a public clash with Democratic members of the board regarding bank mergers.
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ArticleRiot Games to pay $100M in gender discrimination lawsuit settlement
Video game developer Riot Games has agreed to pay more than $100 million as part of a settlement in California resolving allegations of sex discrimination against female workers and harassment.
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ArticleDiMauro: Seven compliance areas to watch in 2022
If 2021 was about transition under the Biden administration, 2022 is looking as if it will be a year of action. CW Director of Compliance Programs & Training Julie DiMauro shares her list of key areas she expects to receive enhanced scrutiny in the year ahead.
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ArticleSEC charges Medallion Financial with fraud, illegal touting
The SEC charged New York City taxi medallion loan company Medallion Financial with participating in two illegal schemes to pump up the declining value of its stock. Also charged was California-based media strategy company Ichabod’s Cranium.
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ArticleTD Bank fined $105K for North Korea sanctions violations
TD Bank, N.A. agreed to pay approximately $105,000 as part of a settlement with OFAC for “multiple sanctions compliance breakdowns” that contributed to more than 1,000 apparent violations of North Korean sanctions regulations.
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ArticleNatWest to pay $35M for defrauding U.S. Treasury markets
NatWest Markets, the investment banking arm of London-based NatWest Group, agreed to pay approximately $35 million after pleading guilty to engaging in various fraud schemes over the span of a decade in U.S. Treasury markets.
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ArticleLordstown Motors names new general counsel amid SPAC probes
Lordstown Motors, currently under investigation by the Justice Department and the SEC, announced the appointment of Melissa Leonard as executive vice president, general counsel and secretary.
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ArticleFASB proposal sets disclosure requirements for supplier finance programs
The Financial Accounting Standards Board issued a proposed update to its liabilities standard setting disclosure expectations for supplier finance programs.
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ArticleFinCEN report highlights uptick in wildlife trafficking SARs
Suspicious activity reports flagging potential financial crime risks posed by wildlife trafficking are on the rise, according to a report published by the Financial Crimes Enforcement Network.
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ArticleGlobal Infrastructure Management fined $4.5M for compliance failures
Registered investment adviser Global Infrastructure Management has agreed to pay a $4.5 million civil penalty as part of a settlement reached with the SEC for fee offset and disclosure failures caused by deficiencies in its compliance program.
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ArticleNikola to pay $125M to settle SEC fraud charges
Electric semitruck startup Nikola agreed to pay $125 million to settle charges brought by the SEC for defrauding investors by misleading them about its products, technical advancements, and commercial prospects.
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ArticleSEC Commissioner Elad Roisman to resign by end of January
The Securities and Exchange Commission will be down a Republican commissioner next month following the planned resignation of Elad Roisman.
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ArticleCybersecurity trends continue in 2021 audit committee transparency report
The most dramatic increase in audit committee disclosures in proxy statements for the second consecutive year was in responsibility for cybersecurity risk oversight, according to the latest report from the Center for Audit Quality and Audit Analytics.
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ArticleCourt lifts hold on OSHA vaccine policy; testing compliance pushed to Feb. 9
The legal delay affecting the Biden administration’s COVID-19 vaccine rules for large employers has been lifted, with updated guidance from OSHA extending compliance deadlines for businesses who temporarily paused their vaccine policy rollouts to redouble their efforts.
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ArticleOCC guidance: Six principles for large banks managing climate risks
The Office of the Comptroller of the Currency published draft guidance for large banks to identify, measure, monitor, and control climate-related risks to ensure the safety and soundness of their institutions and the market.
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ArticleMcDonald’s claws back $105M severance paid to disgraced former CEO
McDonald’s has agreed to drop its lawsuit against disgraced former CEO Steve Easterbrook, who will return more than $105 million in equity and cash he received upon the termination of his employment in 2019.
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ArticleSEC, CFTC fine JPMorgan Chase $200M for recordkeeping violations
JPMorgan Chase will pay $200 million in fines to settle charges brought by two federal regulators regarding the bank’s failure to maintain records of communications on securities, commodities, and swaps business matters made on bank employees’ personal devices.
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ArticleCommunityBank of Texas fined $8M over AML failures
CommunityBank of Texas has agreed to pay $8 million as part of a consent order reached with the Financial Crimes Enforcement Network regarding deficiencies in its anti-money laundering program linked to understaffing.