Consumer protection initiatives are expected to be a major area of focus for President-elect Joe Biden, who is widely anticipated to breathe new life into the enforcement priorities of federal and state agencies with such powers.
Jaclyn Jaeger
Jaclyn Jaeger is a freelance contributor to Compliance Week after working for the company for 15 years. She writes on a wide variety of topics, including ethics and compliance, risk management, legal, enforcement, technology, and more. Prior to joining CW, she spent four years as a legal reporter for Lawyer’s Weekly. Jaclyn attended undergraduate school at St. Joseph’s College of Maine and graduate school at Emerson College, earning degrees in journalism.
Posted inEthics & Culture
Compliance implications of Boeing $2.5B fraud settlement
Boeing has agreed to pay over $2.5 billion as part of a three-year deferred prosecution agreement entered into with the Justice Department to resolve a criminal charge related to the company’s 737 MAX scandal.
Posted inEurope
U.K. tax authority fines MT Global record $32.4M for AML failures
MT Global Limited, a U.K.-based money transfer company, was hit with a record £23.8 million (U.S. $32.4 million) fine by the U.K.’s tax authority for violations of anti-money laundering regulations.
Posted inRegulatory Enforcement
OFAC targets Iran metals sector with new sanctions
The Department of the Treasury’s Office of Foreign Assets Control designated more than a dozen new sanctions aimed to impact the revenue production of the Iranian metals sector.
Posted inRegulatory Enforcement
Argos USA to pay $20M in price-fixing scheme
Argos USA agreed to pay a $20 million criminal penalty to resolve DOJ charges of conspiracy to fix prices, rig bids, and allocate markets for sales of ready-mix concrete.
Posted inRegulatory Enforcement
OFAC fines French bank UBAF $8.6M for Syria-related sanctions violations
The Office of Foreign Assets Control settled with a French bank for processing payments on behalf of sanctioned Syrian financial institutions that were followed by corresponding funds transfers through the U.S. financial system.
Posted inEthics & Culture
Ticketmaster fined $10M for unauthorized access of rival’s systems
Ticketmaster agreed to a $10 million criminal fine as part of a deferred prosecution agreement to resolve charges that it repeatedly accessed the computer systems of a competitor without authorization to illegally gather business intelligence.
Posted inAccounting & Auditing
New IAASB standards tackle audit quality management
The International Auditing and Assurance Standards Board has issued a trio of new and revised standards intended to strengthen and modernize the way audit firms on an international level approach quality management.
Posted inInternal Controls
Learning from SolarWinds: Five steps to fortify your cloud supply chain
For most companies, supply chain risk management traditionally focuses on managing physical third-party risks. But what the SolarWinds cyber-attack revealed is the catastrophic havoc fourth and fifth parties can also wreak in the often-ignored cloud supply chain.
Posted inAccounting & Auditing
RPM, chief compliance officer to pay $2M for accounting violations
RPM International and its general counsel and chief compliance officer have agreed to a $2 million settlement with the SEC for accounting and disclosure rules violations relating to a prior DOJ investigation.
