A Florida seafood company executive has pleaded guilty to conspiring with competitors to fix the prices he paid to local fishers, an effort that impacted more than $8 million in wholesale fish and cut the pay of hundreds of fishers, the Department of Justice said.
Regulatory Enforcement
Posted inRegulatory Enforcement
Former U.S. clothing business CEO convicted of using bribery to win $10M in contracts in Honduras
The former CEO of a Georgia clothing business faces 25 years in prison for bribing Honduran officials to win $10 million in uniform contracts in Honduras, after being caught up in a Department of Justice Anticorruption Task Force.
Posted inRegulatory Enforcement
FTC orders AI firms to disclose safeguards for children and teens
AI chatbots are increasingly used by children and teens, prompting the FTC to order seven AI companies to explain how they monitor potential harms to minors.
Posted inRegulatory Enforcement
DOJ sues Uber over alleged discrimination against disabled riders
The DOJ sued Uber Thursday, alleging it violated the Americans with Disabilities Act (ADA) by denying people with disabilities equal access to its services.
Posted inEurope
EU targets crypto, fintech firms in push to tackle money laundering
Europe’s banking regulator warns that weak compliance at fintech, regtech, and crypto firms may let money laundering and terrorist financing risks slip through. The EBA also found EU regulators’ approaches are often inconsistent and unclear.
Posted inRegulatory Enforcement
California, Colorado, and Connecticut launch joint crackdown on privacy violators
California, Colorado, and Connecticut launched a joint enforcement sweep against businesses that fail to honor consumers’ online opt-out requests, the states announced Tuesday.
Posted inData Privacy
Google hit with $425.6 million verdict in California privacy case
Google allegedly collected personal data from mobile devices without permission, violating California privacy laws, a jury ruled in awarding more than $425.6 million to class-action plaintiffs.
Posted inRegulatory Enforcement
Fracht FWO to pay $1.6M after using OFAC-blocked Venezuelan, Iranian carriers
A Houston-based freight forwarder, Fracht FWO Inc., will pay $1.6 million for violating U.S. sanctions tied to Venezuela and Iran, according to the Treasury Department’s Office of Foreign Assets Control (OFAC). The fine comes as OFAC ramps up enforcement in recent months.
Posted inRegulatory Enforcement
UBS, Santander, Citigroup, BNY clear compliance violations under special, CFTC enforcement sprint program
BNY, Citigroup, Santander, UBS, and two other financial institutions paid a total of $8.3M to settle separate compliance violations with the CFTC.
Posted inRegulatory Enforcement
Hong Kong securities regulator hits repeat offender Deutsche Bank with $3M fine
Deutsche Bank has agreed to pay a $3 million fine and has returned $5 million in fee overcharges to customers as part of a resolution with Hong Kong’s financial services regulator.
