BNY, Citigroup, Santander, UBS, and two other financial institutions paid a total of $8.3M to settle separate compliance violations with the CFTC.
Adrianne Appel
Adrianne Appel writes regulatory news, policy, and trends for Compliance Week. She previously reported about policy developments for Bloomberg Law and Bloomberg Government.
Email: adrianne.appel@complianceweek.com
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Posted inRegulatory Policy
HHS to prioritize enforcement against hospitals, providers and health IT who interfere with electronic record sharing
The Department of Health and Human Services is stepping up its enforcement against hospitals and other health entities that block the sharing of electronic health records.
Posted inRegulatory Enforcement
Owner of investment firm and ATM machine company faces 100 years in prison for alleged $770M Ponzi scheme
The majority owner of a Pennsylvania investment firm faces 100 years of prison time and huge fines for allegedly running a $770 million Ponzi scheme centered on an ATM company he also owned.
Posted inRegulatory Enforcement
Disney hit with $10M FTC fine for allegedly collecting children’s data without permission
The Federal Trade Commission (FTC) proposed an enforcement action against Disney for allegedly collecting personal information about children, and then threw salt in the wound by calling the company out in an alert emailed to an untold number of businesses.
Posted inFinancial Services
Chinese money-laundering networks moved $312B in dirty money through the U.S., FinCEN says
Suspicious activity reports filed by U.S. financial institutions show that Mexican drug cartels and human traffickers are laundering dirty funds through Chinese money laundering networks (CMLNs) operating in the United States, according to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN).
Posted inRegulatory Enforcement
Trump tries side attack on California air standards agency by alleging anti-white bias
The Trump administration has intensified its fight with California as the DOJ launched an investigation into whether the state’s environmental agency is violating federal law by pursuing racial equity.
Posted inRegulatory Enforcement
Bankrupt Synapse fintech software company agrees to let CFPB file claim on behalf of consumers
Synapse Financial Technologies, the troubled California fintech software provider, has agreed to let the Consumer Financial Protection Bureau (CFPB) eventually file a claim on its bankrupt estate.
Posted inRegulatory Enforcement
JPMorgan Chase pays $330M to settle Malaysian fund allegations
JPMorgan Chase has agreed to pay $330 million to settle allegations about its role in the massive, decades-long theft of Malaysian’s 1MDB state investment fund, the bank says.
An estimated $4.5 billion was robbed from the 1MDB fund, from 2009-2014, in a scheme led by Malaysian financier, Jho Low, former Goldman Sachs managing director Roger Ng, and Tim Leissner, former chairman of Southeast Asia for Goldman Sachs.
Posted inRegulatory Enforcement
OCC says Anchorage Digital has fulfilled its AML compliance obligations
Crypto platform Anchorage Digital has been freed of a consent order originally issued by the Treasury Department for anti-money laundering failures.
Posted inRegulatory Enforcement
Using falsified documents, two California executives defrauded investors and lenders of $248M, DOJ says
The co-founders of a California financial tech and sustainability services company defrauded investors and lenders of $248 million, according to the Department of Justice.
