Edwards Lifesciences Corp. will pay a $10 million penalty and create and maintain an antitrust compliance program under a pending agreement with the FTC for failing to notify the commission about its acquisition of JC Medical from Genesis MedTech Group.
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 inTop Stories
Former AstraZeneca due diligence member settles insider trading allegations
A former AstraZeneca employee and member of a company due diligence team has agreed to settle insider trading charges brought by the Securities and Exchange Commission (SEC). Weiguo Zhai allegedly engaged in illegal insider trading prior to AstraZeneca’s announcement in 2023 that it would acquire Icosavax. Zhai was a member of the due diligence […]
Posted inTop Stories
Travel app company ignored complaints about hidden fees, FTC alleges
Travel app Hopper has agreed to pay $35 million and prove compliance for 15 years, to resolve allegations it charged hidden fees to customers— issues that were raised internally by numerous employees but were ignored, the Federal Trade Commission (FTC) said. Hopper, a Canadian company, and its Massachusetts subsidiary charged extra, undisclosed fees to customers […]
Posted inBanking
Banks gave $39M in loans to construction fraudster
A California man was sentenced Tuesday to more than six years in prison for fraudulently obtaining about $39 million in business loans from seven banks, which were tricked into believing the loans were for construction equipment, the DOJ said.
Posted inRegulatory Enforcement
FTC warns companies about ‘Made in USA’ labels
Seven companies received warnings Monday from the FTC for falsely claiming their products were made in the United States.
Posted inData Privacy
Amazon fined $2.25M for failing to respond to identity theft victim requests
Amazon has agreed to pay $2.25 million for failing to provide records to customers who were victims of identity theft, as required by the Fair Credit Reporting Act (FCRA), the Federal Trade Commission (FTC) said. The fine, described in a proposed order, is the largest ever levied for an FCRA violation, the FTC said in a […]
Posted inRegulatory Enforcement
Hedge fund founder faces five years in prison for extensive market spoofing scheme
A California day trader and founder of a hedge fund faces up to five years in prison after pleading guilty to manipulating stock prices through buy and sell “spoofing” schemes.
Posted inPharmaceuticals
Former biopharm director heads to prison for insider trading ahead of Novartis purchase
A former director of biopharmaceutical company, Chinook Therapeutics, has been sentenced to prison for insider trading related to the company’s $3.2 billion sale to Novartis in 2023, a fraud detected through data analysis by the SEC.
Posted inRegulatory Enforcement
U.S. agencies take aim against Cambodian money laundering conglomerate
United States enforcement agencies have landed more blows against a sprawling, Cambodian-based money laundering, financial conglomerate, believed to operate hand-in-glove with cybercriminals who scam U.S. individuals out of their life savings.
Posted inAML
Bosnia and Herzegovina, and Iraq, added to international watchdog’s list for AML failings
Iraq and Bosnia and Herzegovina need to improve their anti-money laundering/countering the financing of terrorism programs and have been added to the FATF’s grey list.
