The Consumer Financial Protection Bureau is warning companies against intimidating potential whistleblowers by forcing them to sign broad nondisclosure agreements to deter misconduct from coming to light.
Jeff Dale
Posted inRegulatory Enforcement
FINRA appoints senior vice presidents of enforcement
The Financial Industry Regulatory Authority announced the appointments of Tina Gubb, effective Monday, and Julie Glynn, effective Sept. 1, as senior vice presidents of enforcement.
Posted inRegulatory Policy
SEC names interim acting director of exams division
The Securities and Exchange Commission announced that Division of Examinations Deputy Director Keith Cassidy, who was named interim acting co-director a year ago, will serve as interim acting director going forward.
Posted inInternal Controls
Green Dot fined $44M by Fed over compliance deficiencies, deceptive practices
The Federal Reserve Board of Governors fined financial technology and bank holding company Green Dot $44 million for numerous unfair and deceptive practices and a deficient consumer compliance risk management program.
Posted inRegulatory Enforcement
DOJ lauds Guardant Health’s cooperation in cancer test false claims case
California-based cancer testing company Guardant Health agreed to pay more than $945,000 to settle allegations levied by the Department of Justice of violating the False Claims Act and Stark Law.
Posted inEurope
Lithuanian DPA orders Vinted to pay $2.6M over GDPR violations
The data protection authority of Lithuania levied a fine of 2.4 million euros (U.S. $2.6 million) against Vinted UAB, an online clothing trading and exchange platform, for alleged violations of the European Union’s General Data Protection Regulation.
Posted inRisk Management
FinCEN updates red flags to watch for in thwarting West Bank settler violence
The Treasury Department’s Financial Crimes Enforcement Network updated an alert first issued in February warning financial institutions of Israeli extremists fomenting violence in the West Bank.
Posted inRisk Management
Bank of England report: ’Need to improve’ private equity risk management
A Bank of England report warned of private equity risk management deficiencies as interest rates remain stagnant, with international coordination important.
Posted inRegulatory Enforcement
Mondo TV reaches $538K settlement with OFAC over N. Korea sanctions violations
Italy-based Mondo TV agreed to pay $538,000 to settle charges with the Treasury Department’s Office of Foreign Assets Control over 18 apparent violations of North Korea sanctions regulations.
Posted inRegulatory Enforcement
DOJ orders PetroChina unit to pay $14.5M over export control violations
PetroChina International America agreed to pay a fine and forfeiture of $14.5 million to settle charges with the Department of Justice that it violated U.S. export control laws.
