All United States articles – Page 9
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PremiumRaytheon parent RTX settles false claims, defective pricing, Qatar FCPA violations for $950M
The other shoe finally dropped for Raytheon and parent company RTX, as two U.S. regulators announced nearly $1 billion in penalties to settle defective pricing in defense contracts, false claims related to inflated prices on government contracts, and bribes paid to government officials in Qatar that violated the FCPA.
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PremiumFTC final ‘Click to Cancel’ Rule requires disclosure of material facts before enrollments
Tthe Federal Trade Commission, after years of public comments and changes, released a final “Click to Cancel” Rule, which requires a customer’s express consent before they can be charged and prohibits practices that make it difficult for a customer–whether a family or another business–to cancel.
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UnitedLex promotes GC to CEO
UnitedLex, a data and professional services company specializing in litigation, intellectual property, contracts, compliance, and legal operations, announced that the company’s general counsel Renee Meisel has been appointed chief executive officer.
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Fragrance Creators names GC
Fragrance Creators Association announced the appointment of Sarah Erickson André as its new vice president, government affairs & general counsel, effective Nov. 1.
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APA Corporation announces acting GC
APA Corporation, which owns consolidated subsidiaries that explore for and produce oil and natural gas, announced that David Bernal has been promoted to vice president legal and acting general counsel.
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The Brock Group announces GC
Multi-craft specialty services provider The Brock Group announced the appointment of Shenna Bradshaw as its general counsel.
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The Mutual Group appoints GC, CCO
TMG Insurance Services announced that Shannon Woods has joined as general counsel and chief compliance officer.
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Execo welcomes chief legal officer
Execo, a next-generation alternative legal services provider, announced the appointment of Eunice Tan as its chief legal officer.
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News BriefGovernment contractor fined $307K after third-party hack compromised personal data
It was a double whammy of cybersecurity no-nos for a federal contractor hit with a data breach: The personal data of Medicare beneficiaries contained in unencrypted screenshots were allegedly compromised when their third-party vendor’s server was hacked.
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News BriefPoor internal controls led to FCPA violations in Moog’s $1.7M settlement with SEC
A company culture geared to “win business at any cost” encouraged employees of New York-based aerospace manufacturer Moog to pay bribes in India to win contracts, the Securities and Exchange Commission alleged.
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RPM gets new GC, compliance chief
RPM International, which owns subsidiaries that are providers of specialty coatings, sealants, building materials and related services, announced that Tracy Crandall has been elected vice president, general counsel and chief compliance officer.
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MultiPlan announces GC
MultiPlan Corporation, a provider of data-driven cost management solutions that deliver transparency and promote fairness, quality and affordability to the US healthcare industry, announced that Tara O’ Neil has been promoted to general counsel.
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News BriefTeva Pharma to pay $450M to settle kickback, price-fixing allegations
Generic drug giant Teva Pharmaceuticals has agreed to pay $450 million to settle two cases brought by the Department of Justice (DOJ), including one alleging that co-pays it made on behalf of Medicare patients constituted illegal kickbacks, and a second action for alleged generic drug price fixing.
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PremiumControl and delete: How regulators can shutdown companies’ AI investments
Companies are increasingly putting their faith in AI to realize the kind of business benefits that the technology seems to promise, but they are also opening themselves up to new and potentially crippling sanctions if they are unable to answer questions that surround how AI operates.
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News BriefSEC penalizes Rimar CEO, holding company board member $524K total for ‘AI washing’
The Securities and Exchange Commission ordered the owner of Rimar Capital and a board member of its holding company to pay nearly $524,000 in penalties for defrauding investors with false and misleading statements about its use of artificial intelligence.
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PremiumTD Bank fined nearly $3.1B by U.S. regulators for AML compliance failures
TD Bank will pay nearly $3.1 billion in penalties to four U.S. regulators to settle charges that it “chose profits over compliance” when it allowed three money laundering networks to filter more than $670 million in dirty money through the company.
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Thesis* appoints general counsel
Thesis*, a venture studio funding and building brands on Bitcoin, announced the appointment of Katherine Snow as its new general counsel.
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Illumina names acting GC
Illumina, a DNA sequencing and array-based technologies firm, announced that Scott Davies has been named acting general counsel and secretary as Charles Dadswell will step down.
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PremiumAI & Compliance Summit notebook: ‘Think big. Start small. Scale fast.’
When starting artificial intelligence efforts for companies large or small, one approach compliance practitioners said they’ve found works best is to start with a specific use case.
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Albemarle announces GC, compliance chief
Albemarle Corporation, which transforms essential resources into critical ingredients for mobility, energy, connectivity and health, announced that Stacy Grant will become general counsel, corporate secretary and chief compliance officer.