Late payers will soon face much larger fines in the U.K. in what is promised to be the “toughest crackdown on late payments in a generation.” The scheme is intended to save the 38 businesses a day that go bust because of poor payment practices.
Regulatory Enforcement
Posted inRegulatory Enforcement
CFPB could run out of money by fall, report says
The Trump administration declawed the Consumer Financial Protection Bureau from the very beginning of his second term. It now appears the agency might be running out of money.
Posted inRegulatory Enforcement
DOJ and SEC end investigations of GE HealthCare for possible FCPA violations in China
The Securities and Exchange Commission and Department of Justice ended a seven-year review of GE HealthCare Technologies’ China unit for possible violations of the Foreign Corrupt Practices Act.
Posted inRegulatory Enforcement
DOJ alleges New York lab CEO ripped off insurers for $500M in fraudulent COVID test claims
The U.S. Department of Justice says the chief executive and medical director of Fast Lab Technologies allegedly engaged in a $500 million fraud scheme involving COVID-19 tests.
Posted inRegulatory Enforcement
SEC’s Crypto Task Force hits the road with nationwide roundtables
The Securities and Exchange Commission is taking its pro-crypto messaging on the road, planning a series of events for its Crypto Task Force that will be held across the U.S. starting on Aug. 4.
Posted inRegulatory Enforcement
OFAC cracks down on Iran’s oil trade with new sanctions sweep
More than 50 people and 50 ships connected to a top Iranian official were added to the U.S. Treasury’s sanctions list on Wednesday, according to the Office of Foreign Assets Control.
Posted inData Privacy
Kentucky files suit against Temu alleging it stole state intellectual property and violated privacy
Kentucky took aim at Chinese company Temu, alleging in a lawsuit that it counterfeited popular Kentucky-designed merchandise and violated customers’ privacy.
Posted inRegulatory Enforcement
U.S. Department of Labor cracks down on child labor violations
The Department of Labor is using poultry processing company Mar-Jac Poultry as an example of what will happen when companies repeatedly employ underage workers in hazardous conditions. Hint: Companies can’t pin the blame on staffing agencies.
Posted inRegulatory Enforcement
Trump DOJ fires two antitrust officials amid broader regulatory pullback
The Department of Justice fired two officials who were part of its antitrust division on Monday. The move, reported by CBS News, marks the latest effort from the Trump administration to ease regulations for companies and rollback of antitrust enforcement.
Posted inRegulatory Enforcement
Florida telecomm agrees to pay more than $128 million for alleged false claims
A Florida wireless company and its chief executive officer will pay more than $128 million to settle civil and criminal allegations that they defrauded a federal low-income telecommunications program, according to the Department of Justice.