IT services company Unisys Corp. revealed the discovery of faults in its internal control over financial reporting, including involving its compliance functions, following an internal investigation it first disclosed earlier this month.
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 Enforcement
Big penalties, admissions fuel record SEC enforcement year
The Securities and Exchange Commission collected more than $6.4 billion in enforcement penalties, fees, and interest in fiscal year 2022—the largest amount in the agency’s history and a massive increase over a transition year in 2021.
Posted inEthics & Culture
S&P Global fined $2.5M over conflict of interest lapses
Credit rating agency S&P Global Ratings agreed to pay $2.5 million and improve its compliance practices to settle allegations by the SEC that its marketing team pressured the ratings team concerning the rating of a particular mortgage-backed security transaction.
Posted inRegulatory Enforcement
Ex-Mylan chief information officer charged over insider trading scheme
The chief information officer at former pharmaceutical company Mylan was charged with insider trading for tipping off a former colleague about the firm’s impending merger with a division of Pfizer, among other matters.
Posted inRegulatory Enforcement
PIC Renegade Properties to pay $400K for investment fund violations
A general partner in a real estate investment fund agreed to pay $400,000 to settle allegations it failed to register the fund and take reasonable steps to verify investors were accredited, the Securities and Exchange Commission announced.
Posted inAnti-Bribery
Insurance broker Gallagher latest target of DOJ Ecuador probe
Insurance broker Arthur J. Gallagher is under investigation by the Department of Justice related to its business in Ecuador.
Posted inAccounting & Auditing
Ex-CEO at NS8 to serve five years in jail, forfeit $17.5M for fabricating revenue
The co-founder of NS8, a cyber-fraud prevention company, was sentenced to five years in prison and ordered to forfeit $17.5 million for defrauding investors of more than $100 million, the Department of Justice announced.
Posted inRegulatory Enforcement
ModMed settles FCA, kickback allegations with DOJ for $45M
Modernizing Medicine paid $45 million to settle false claims allegations levied by the Department of Justice it received kickbacks and made improper payments to providers to increase its business.
Posted inRisk Management
FinCEN: U.S. banks paid $1.2B to ransomware criminals last year
Banks reported paying a record $1.2 billion to ransomware criminals in 2021, the Financial Crimes Enforcement Network announced.
Posted inAccounting & Auditing
SEC orders Koppers Holdings to pay $1.3M for disclosure failures
Koppers will pay $1.3 million to the Securities and Exchange Commission to settle allegations it failed to disclose material information about its debt in fiscal year 2019.
