The SEC has canceled sanctions imposed by the PCAOB on a now-retired KPMG auditor connected with a mortgage lender failure at the height of the financial crisis.
Sanctions
Posted inRegulatory Enforcement
Expedia settles with Treasury for violations of U.S. sanctions on Cuba
Expedia Group has agreed to pay more than $325,000 to resolve allegations that it violated U.S. sanctions on Cuba, the Treasury Department announced.
Posted inRegulatory Enforcement
World Bank debars China Railway Construction, two subsidiaries
The World Bank announced the nine-month debarment of China Railway Construction Corp. and two of its subsidiaries concerning misconduct under a highway project in Georgia.
Posted inRegulatory Enforcement
World Bank debars French, Brazilian subsidiaries of Veolia Water
The World Bank has debarred two subsidiaries of Veolia Water Technologies for fraudulent and collusive practices during a bidding process under the Río Bogotá Environmental Recuperation and Flood Control Project in Colombia.
Posted inRegulatory Enforcement
Treasury issues Finding of Violation to State Street subsidiary
The U.S. Treasury Department has found that State Street Bank and Trust violated Iranian Transactions and Sanctions Regulations.
Posted inRegulatory Enforcement
U.S. could ban all Huawei products
New moves from the Commerce Department suggest a full domestic ban on products from the Chinese telecom giant Huawei are forthcoming.
Posted inRegulatory Enforcement
World Bank Group debars Sieyuan Electric
The World Bank Group has placed a 15-month debarment on Shanghai-based Sieyuan Electric relating to fraudulent practices under the Inter-Zonal Transmission Hub Project.
Posted inRegulatory Enforcement
UniCredit Group Banks to pay $1.3B for sanctions violations
UniCredit Group Banks will pay total financial penalties of approximately $1.3 billion for processing hundreds of millions of dollars of transactions through the U.S. financial system on behalf of an entity designated as a weapons of mass destruction proliferator and other Iranian entities subject to U.S. economic sanctions, the Department of Justice announced.
Posted inRegulatory Enforcement
Standard Chartered Bank to pay $1.1B for sanctions violations
Standard Chartered Bank, a U.K.-based financial institution, will pay a total of $1.1 billion in a global settlement for sanctions violations.
Posted inRisk Management
Descartes, Kharon partner on sanctions risk intelligence
Software as a service (SaaS) solutions provider Descartes Systems Group has integrated research company Kharon’s sanctions ownership data into its screening solution.