- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
A federal court in Detroit has sentenced Volkswagen AG in connection with a decade-long scheme to sell diesel vehicles containing software designed to cheat U.S. emissions tests. As part of the plea agreement, VW will pay a $2.8 billion penalty.
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The Financial Industry Regulatory Authority fined broker-dealer Morgan Stanley $1 million over alleged documentation failures related to risk management controls and supervisory procedures involving violations of the Market Access Rule.
A Texas health care organization agreed to pay $14.2 million to settle allegations it filed false claims related to violations of the “Stark” self-referral law, according to the Department of Justice.
Law enforcement officials stumbled on TD Bank’s role in money laundering while investigating a Mexican drug cartel. They found that the bank’s corporate culture considered compliance, particularly BSA/AML compliance, a low priority. As they dug deeper, authorities discovered that multiple money laundering schemes had infiltrated the bank’s network.
