Bayer agreed to pay $40 million to settle allegations its sales team paid kickbacks to hospitals and doctors for prescribing its drugs and that the pharmaceuticals company downplayed risks regarding certain of its offerings.
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 inAnti-Bribery
Philips subsidiary to pay $24M for kickback violations
Philips RS North America agreed to pay more than $24 million to settle allegations it paid kickbacks to medical equipment suppliers to push its products ahead of other brands that are provided to patients of federal health programs.
Posted inRegulatory Enforcement
Wise fined $360K for AML failures in Abu Dhabi
International money transfer company Wise will pay a $360,000 penalty for failing to abide by Abu Dhabi’s anti-money laundering rules over a two-year period, the Financial Services Regulatory Authority of Abu Dhabi Global Market announced.
Posted inAccounting & Auditing
SEC fines ex-PPG controller $100K over accounting improprieties
The Securities and Exchange Commission ordered Mark Kelly, the former principal accounting officer and controller at PPG, to pay $100,000 for accounting improprieties aimed at inflating the painting supply company’s earnings per share.
Posted inAccounting & Auditing
Granite Construction fined $12M over exec accounting fraud scheme
California-based civil engineering and infrastructure firm Granite Construction agreed to pay $12 million to settle Securities and Exchange Commission charges alleging fraud related to inflation of the company’s financial performance.
Posted inRisk Management
U.S., Israel finalize deal on cybersecurity cooperation
The United States and Israel have finalized an agreement to work together to protect the financial sector from cybersecurity attacks, the U.S. Treasury Department announced.
Posted inData Privacy
Sephora fined $1.2M in first public CCPA enforcement
Cosmetics retailer Sephora agreed to pay $1.2 million in the first public enforcement action under California’s landmark consumer privacy law.
Posted inTechnology
Lawsuit: Lax Coinbase cybersecurity led to theft of customers’ crypto
Coinbase is the subject of a class-action lawsuit alleging cybersecurity failures at the cryptocurrency exchange are to blame for customer accounts losing thousands of dollars in crypto, with the company not doing enough to prevent further thefts.
Posted inAnti-Bribery
Survey: Cyber threats, remote work, financial pressures key ABC concerns for 2022
Compliance programs globally expect to shoulder more responsibilities in 2022, according to Kroll’s latest Anti-Bribery and Corruption Benchmarking Report.
Posted inRisk Management
Survey: Legal heavily involved in ESG strategy, less so in compliance
Less than one-fifth of global corporate legal departments in a recent survey reported heavy involvement with environmental, social, and governance compliance, though three-quarters said they had been extremely involved in drafting their companies’ ESG strategy.
