Electric vehicle manufacturer Canoo agreed to pay $1.5 million as part of a settlement with the Securities and Exchange Commission for alleged material misrepresentations regarding revenue and failing to properly disclose executive compensation.
Jeff Dale
Posted inRegulatory Enforcement
Fund administrator Theorem to pay $122K over missed red flags
The Securities and Exchange Commission ordered Florida-based fund administrator Theorem Fund Services to pay more than $122,000 to settle allegations it missed red flags regarding a $39 million fraud.
Posted inUncategorized
Ex-DOJ Criminal Division head Kenneth Polite to join Sidley Austin
Sidley Austin announced the appointment of Kenneth Polite Jr., former head of the Department of Justice’s Criminal Division, as a partner and co-lead of the law firm’s white-collar government litigation and investigations practice.
Posted inWhistleblowers
SEC awards $104M between seven whistleblowers in one action
The Securities and Exchange Commission announced awards totaling more than $104 million to seven whistleblowers whose information and assistance led to a successful enforcement action.
Posted inRegulatory Enforcement
ACI Worldwide to pay $20M in settlement with states over data handling
ACI Worldwide is set to pay $20 million as part of a proposed settlement with states related to lax data handling and erroneous transactions that resulted in previous penalties against the company levied by the Consumer Financial Protection Bureau.
Posted inEurope
Dubai financial regulator fines Mirabaud unit $3M for weak AML controls
A Middle Eastern unit of international banking group Mirabaud was ordered to pay a $3 million fine for inadequate anti-money laundering controls by the Dubai Financial Services Authority.
Posted inEurope
Former NatWest compliance officer awarded $112K in unfair dismissal case
A former risk and compliance officer at National Westminster Bank was awarded nearly £88,000 (U.S. $112,000) after a U.K. employment tribunal found she was unfairly dismissed and discriminated against during her sick leave for colon cancer.
Posted inData Privacy
CPPA sets sights on connected vehicles in first review
The California Privacy Protection Agency is probing the data privacy practices of connected vehicle manufacturers and their technologies as part of its first enforcement review.
Posted inRegulatory Enforcement
Martin’s Point Health Care to pay $22.5M to settle false claims case
Martin’s Point Health Care will pay nearly $22.5 million to settle allegations it violated the False Claims Act by knowingly submitting inaccurate diagnosis codes for Medicare enrollees to increase reimbursements.
Posted inRegulatory Enforcement
UAE approves plan to establish AML prosecutor
The United Arab Emirates has moved forward with plans to establish federal prosecution entities specializing in economic crimes and money laundering.