All United States articles – Page 161
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ArticleSenate confirms U.S. attorneys to lead SDNY, EDNY
The Senate confirmed Damian Williams and Breon Peace to lead U.S. attorney’s offices in Manhattan and Brooklyn, respectively. Williams becomes the first Black prosecutor to ever lead the SDNY.
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ArticleCompliance implications of drugmakers’ $447M False Claims Act settlements
Three pharmaceutical manufacturers—Taro Pharmaceuticals USA, Sandoz, and Apotex Corp.—will pay a total of $447.2 million for alleged violations of the False Claims Act related to price-fixing.
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ArticleCalifornia privacy agency names executive director
The nation’s first state data privacy agency has selected former FTC Chief Technologist Ashkan Soltani to serve as its executive director overseeing enforcement and rulemaking of the CCPA and, eventually, the CPRA.
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ArticleLessons learned from actions of Facebook whistleblower Frances Haugen
Many whistleblowers are forced to take their complaints outside the company because their attempts to address the problems internally are rebuffed or ignored. Facebook is paying the price for that inaction.
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ArticleUpdated PhRMA Code addresses company-sponsored speaker programs
New voluntary standards issued by the Pharmaceutical Research and Manufacturers of America will soon take effect offering guidance related to company-sponsored speaker programs.
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ArticlePandora Papers: Takeaways for compliance
The “Pandora Papers” could open Pandora’s box for all businesses and organizations found to be entangled in its worldwide web of shell companies, offshore tax havens, and secret trusts.
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ArticleNeiman Marcus data breach exposes personal info of 4.6M customers
Luxury retailer Neiman Marcus discovered last month a May 2020 data breach that exposed personal and financial information contained in the online accounts of approximately 4.6 million customers.
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ArticleWaFd Bank to pay $2.5M for AML/BSA deficiencies
Washington Federal Bank has agreed to pay $2.5 million in accordance with a consent order reached with the Office of the Comptroller of the Currency in February 2018.
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ArticleLPL Financial to pay $4.8M to settle claims of poor KYC procedures
The nation’s presumed top independent broker-dealer will pay more than $4.8 million to settle AML charges stemming from its alleged failure to reconcile inconsistencies of a new customer who would scam a Puerto Rican city out of millions of dollars.
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ArticlePCAOB fines Deloitte Canada $350K for quality control failures
The Public Company Accounting Oversight Board imposed a $350,000 civil penalty on Deloitte Canada for reasonable assurance quality control failures regarding an electronic work paper system update.
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ArticleRohit Chopra confirmed as CFPB director; more dominoes to follow?
The Senate confirmed Rohit Chopra to be the next director of the Consumer Financial Protection Bureau with a party-line vote. Lawmakers will soon shift their attention to his replacement at the Federal Trade Commission.
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ArticleSEC charges ex-Goldman compliance analyst with insider trading
The Securities and Exchange Commission charged a former senior compliance analyst at Goldman Sachs who abused his position of authority unbeknownst to the investment bank with insider trading.
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ArticleSEC seeks to implement Dodd-Frank provision on executive compensation votes
The SEC has proposed rulemaking that would enact a provision of the Dodd-Frank Act requiring mutual fund managers to disclose how they voted on proxy proposals, including on compensation agreements with company executives.
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Top DOJ Criminal Division official Daniel Kahn to rejoin Davis Polk
Daniel Kahn, who most recently served as acting deputy assistant attorney general of the Department of Justice’s Criminal Division, will rejoin Davis Polk as a partner.
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ArticleActivision Blizzard EEOC deal: All form, no substance
Activision Blizzard’s $18 million settlement with the Equal Employment Opportunity Commission mirrors in many ways the terms ride-sharing company Uber reached in a deal with the EEOC in 2019—except the agreement is void of any accountability.
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ArticleRobinhood touts crypto wallet offering, hires new CCO
Fintech firm Robinhood has hired a new chief compliance officer at its cryptocurrency arm ahead of the first round of testing for its cryptocurrency wallet offering.
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ArticleSchlumberger subsidiary to pay $1.4M for Russian sanctions violations
A Houston-based subsidiary of oilfield services company Schlumberger has been fined approximately $1.4 million by the Office of Foreign Assets Control for selling goods to a Russian-based energy firm that was under U.S. sanctions.
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ArticleWells Fargo to pay $72.6M for foreign currency exchange fraud
Wells Fargo Bank agreed to pay a total of approximately $72.6 million to resolve allegations it fraudulently overcharged hundreds of commercial customers who used the bank’s foreign exchange services.
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ArticleNew SEC marketing rule offers opportunities, compliance challenges
The SEC’s new marketing rule allows certain types of advertising, endorsements, and testimonials that were previously prohibited. Investment advisers are “excited” about the new possibilities—but compliance officers must warn them of the risks.
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ArticleDeparting CFTC commissioner to join SEC as general counsel
Dan Berkovitz has signed on to become general counsel at the SEC less than three weeks since announcing his intention to step down as a commissioner at the CFTC.