Samsung collected too much personal data from customers and failed to adequately secure it, leading to two data breaches this year and potentially millions of harmed individuals, a class-action lawsuit alleges.
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
Infinity Q CCO settles SEC charges of aiding $1B fraud scheme
Scott Lindell, the former chief risk officer and chief compliance officer of Infinity Q Capital Management, settled SEC charges he helped conceal the founder of the investment adviser carried out a $1 billion overvaluation fraud scheme.
Posted inRegulatory Enforcement
SEC charges pharma CEO, two companies with offering fraud
The Securities and Exchange Commission charged Paul Edalat and two pharmaceuticals companies he controlled—Sentar and Vivera—with engaging in a fraudulent investment scheme.
Posted inAccounting & Auditing
Tupperware Brands fined $900K for accounting failures at Mexico unit
Tupperware Brands Corp. agreed to pay $900,000 to settle SEC charges of failing to maintain sufficient internal accounting controls and keep accurate books and records at its Mexico affiliate.
Posted inAccounting & Auditing
Deloitte China fined $20M for ‘basic’ audit standard violations
The Chinese affiliate of Big Four audit firm Deloitte agreed to pay a $20 million penalty and undertake extensive remedial measures as part of a settlement with the SEC for audit failures that included asking clients to conduct their own audit work.
Posted inRegulatory Enforcement
Regions Bank to pay $191M for surprise overdraft fees
The Consumer Financial Protection Bureau ordered Regions Bank to pay $191 million for allegedly charging Illegal, surprise overdraft fees to customers that the bank’s compliance staff warned against.
Posted inAnti-Bribery
Biogen finalizes $900M settlement in false claims whistleblower suit
Biogen finalized a $900 million settlement concerning alleged kickbacks it paid to doctors to induce them to prescribe the company’s drugs and not those of its competitors.
Posted inAnti-Bribery
Philips to pay $1.3M in second kickback settlement in month
Philips RS North America agreed to pay approximately $1.3 million to settle charges it unlawfully paid kickbacks as part of its second resolution addressing alleged False Claims Act violations this month.
Posted inAccounting & Auditing
Friedman to pay $1.5M for missed red flags in two audits
Accounting firm Friedman will pay more than $1.5 million to settle charges it failed to comply with the standards of the Public Company Accounting Oversight Board while auditing two companies.
Posted inAccounting & Auditing
Former EY director to pay $24K for insider trading
Michael Weiss, a former Ernst & Young business development director, agreed to pay $23,900 to settle charges levied by the Securities and Exchange Commission he engaged in insider trading.
