A brokerage and investment firm will pay $11.8 million for providing services to individuals under U.S. sanctions, as well as people located in countries sanctioned by the U.S.
Aaron Nicodemus
Aaron Nicodemus is the Editor-in-Chief of Compliance Week. He previously worked as a reporter for Bloomberg Law and as business editor at the Telegram & Gazette in Worcester, Mass.
Email: aaron.nicodemus@complianceweek.com
LinkedIn: Follow
Posted inESG/Social Responsibility
Citing “significant changes” to corporate reporting requirements, COSO withdraws governance framework
The Committee of Sponsoring Organizations of the Treadway Commission (COSO) has withdrawn its draft corporate governance framework that it released in May, after “extensive feedback” and provisions in the recently passed “One Big Beautiful Bill” caused its authors to reconsider it.
Posted inRegulatory Policy
Most companies that self-report misconduct to DOJ will receive declinations, DAG Blanche says
The Department of Justice has refocused its white collar crime priorities on prosecuting the worst cases of corporate misconduct while also clearing away unnecessary and burdensome regulation that could “strangle” American business, Deputy Attorney General Todd Blanche said.
Posted inRegulatory Enforcement
Florida alleges that Robinhood Crypto’s fee disclosures are inaccurate
The state of Florida is investigating Robinhood Crypto for falsely claiming it charges the lowest fees for processing crypto transactions.
Posted inRegulatory Enforcement
Harman Industries, despite self-reporting violating U.S. sanctions on Iran, fined $1.4M
A Connecticut-based audio electronics company will pay a $1.4 million fine for violating U.S. sanctions, after middle managers at a foreign distributor knowingly diverted the company’s products to Iran.
Posted inRegulatory Enforcement
In 17 years, Discover Financial never managed to clean up a billion dollar mess
Federal banking regulators have laid the blame for Discover Financial Services charging merchants $1 billion in excessive credit card fees over 17 years squarely at the feet of company executives.
Posted inRegulatory Enforcement
Without explanation, CFPB drops $95M enforcement action against Navy Federal
The Consumer Financial Protection Bureau has dropped a $95 million enforcement action against Navy Federal Credit Union, the latest regulatory pullback by the agency under President Donald Trump.
Posted inSanctions
OFAC fines logistics company Key Holding $609k for violating U.S. sanctions on Cuba
A Delaware logistics company paid a $608,825 fine for violating U.S. sanctions on Cuba, a breach that the company self-disclosed to the U.S. Treasury’s Office of Foreign Assets Control (OFAC).
Posted inAnti-Bribery
DOJ targets $14.6B in health care fraud with focus on transnational crime
Emerging enforcement priorities of the U.S. Department of Justice’s health care fraud division align with the Trump administration’s emphasis on prosecuting transnational criminal organizations and ending opioid trafficking.
Posted inAML
FinCEN bars three Mexican financial institutions for aiding cartels in fentanyl trade
Three Mexican financial institutions will be barred from transacting with U.S.-based banks after a U.S. Treasury agency determined that the institutions allowed their networks to aid the illegal fentanyl trade of Mexican criminal organizations.
