Four senior partners at Big Four accountancy firm Ernst & Young, including a leader in the firm’s compliance function, have left the company because of spiralling repercussions from a costly compliance failure.
Regulatory Enforcement
Posted inRegulatory Enforcement
Florida boarding school pays $1.7M for enrolling kids of drug cartel parents
A Florida school has agreed to pay more than $1.7 million for enrolling children whose parents had been sanctioned by the U.S. for their ties to Mexican drug cartels, the U.S. Department of the Treasury’s Office of Foreign Assets Control said Thursday.
Posted inData Privacy
Disney pays $2.75M to California for alleged privacy violations
Disney has agreed to pay $2.75 million to settle allegations by California that its streaming service sold the personal information of subscribers without their permission.
Posted inData Privacy
FTC warns brokers to stop selling U.S. military member data to foreign adversaries
Thirteen data brokers have been warned by the Federal Trade Commission to come into compliance with a 2024 law prohibiting the selling of the personal data of U.S. residents to foreign adversaries.
Posted inRegulatory Enforcement
Two ADM execs settle with SEC over alleged profit inflations, one exec fighting back
Three former executives at Archer-Daniels-Midland intentionally misled investors by inflating the performance of the company’s Nutrition unit, the U.S. Securities and Exchange Commission has alleged.
Posted inRegulatory Enforcement
National Fraud Enforcement Division: A dangerous escalation of compliance risk
Chief compliance officers and general counsel, beware: The Trump administration’s merging of its whole-of-government enforcement approach with its political agenda forewarns of escalating compliance risk on a national scale.
Posted inRegulatory Enforcement
Kaiser plans pay $556M to settle Medicare upcoding allegations
Kaiser Health affiliates have agreed to pay more than $556 million to settle allegations originally made by whistleblowers that they ignored compliance department warnings and unlawfully reworked diagnoses for Medicare patients in order to receive higher payments from the federal government.
Posted inRegulatory Enforcement
FTC files contempt against credit card processor Cliq for alleged ongoing compliance failures
The Federal Trade Commission asked a court to hold the payment processor Cliq in contempt for allegedly “flagrantly” violating a 2015 order that the company monitor transactions for illegal charges and activity.
Posted inRegulatory Enforcement
SEC drops all charges against former Rio Tinto CFO related to coal valuation
The U.S. Securities and Exchange Commission dropped its case against Rio Tinto’s former chief financial officer, who has battled charges for eight years.
Posted inRegulatory Enforcement
Owner of medical supply company faces 35 years for alleged false claims, kickbacks
The owner of a medical supply company allegedly billed federal health programs $30 million for items that were unnecessary and tainted by kickbacks, according to the Department of Justice (DOJ).