All Government articles – Page 34
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ArticleEverest Capital settles SEC charges for risk management failures
The Securities and Exchange Commission settled charges against investment adviser Everest Capital and its sole principal for risk management failures stemming from a bad currency bet on the Swiss franc.
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ArticleBank Hapoalim’s bad day: $904M in tax evasion, FIFA fines
Israel’s largest bank and its Swiss subsidiary will pay a total of $904 million in separate DOJ settlements related to (1) a massive tax-evasion scheme and (2) its role in a money-laundering conspiracy with FIFA.
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ArticleCFTC Commissioner Quintenz won’t seek second term
Brian Quintenz, one of five commissioners at the CFTC, announced he won’t seek renomination to a second five-year term and will depart the agency by the end of October.
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ArticleTwo former Penn West execs settle accounting fraud charges with SEC
The former CFO and former VP of accounting and reporting at Penn West Petroleum have settled SEC charges for their role in an accounting fraud scheme that spanned several years.
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ArticleSEC hands out second top-10 whistleblower award this month
The Securities and Exchange Commission announced the award of $18 million to a whistleblower, continuing a two-month surge in payouts by the agency that has now seen two of its largest bounties to date.
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ArticleMnuchin rips Lakers, fumes over public companies receiving coronavirus loans
Reacting to news the NBA’s Los Angeles Lakers received a coronavirus aid loan meant for small businesses, U.S. Treasury Sec. Steven Mnuchin said Tuesday all such loans over $2 million will be audited and some companies could face criminal liability.
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ArticlePraxsyn’s apparent COVID-19 investment scam points to broader trend
The SEC announced charges against Praxsyn and its CEO for lying about acquiring and being able to supply millions of N95 masks, joining a long list of other companies alleged to have participated in COVID-19 investment scams.
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ArticleHouse Democrats call EPA enforcement pause ‘threat to public health’
House Democrats are concerned that a temporary rollback of some environmental regulations will give companies “an open license to pollute” and have requested the EPA provide a briefing on its decisions next month.
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ArticlePreparing for the compliance caveats that accompany CARES Act, PPP
Regardless of the government relief program, companies that are able to provide clear, thorough, and timely compliance data and documentation will put themselves in the best position to secure the relief they need.
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ArticleTerminated whistleblower receives $5M SEC award
A whistleblower terminated by his or her company soon after raising concerns internally about discovered misconduct was the recipient of a $5 million SEC payout—the seventh by the agency in the last month.
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Old Ironsides to pay $1M for compliance failures
Old Ironsides Energy will pay a $1 million penalty to settle SEC charges for failing to implement its own compliance policies and procedures regarding the distribution of misleading marketing materials.
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ArticleEni to pay $24.5M to resolve FCPA charges
Italian oil company Eni will pay $24.5 million to settle SEC charges that it violated the Foreign Corrupt Practices Act with regard to the award of certain contracts to its former subsidiary Saipem in Algeria.
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ArticleSEC awards whistleblower sixth-largest payment ever: $27 million
A whistleblower has been awarded $27 million by the Securities and Exchange Commission, the largest award this year and the sixth-largest payout ever.
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ArticleDo we have to give up our privacy to be safe from coronavirus?
How much of your privacy rights and civil liberties are you willing to give up in the fight against the coronavirus pandemic? Our collective answer might determine how successful we are in the next phase of this fight.
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ArticleEx-exec charged, but Goldman Sachs avoids FCPA liability for due diligence efforts
The SEC announced charges against a former Goldman Sachs exec for violating the anti-bribery provisions of the FCPA, but the firm was not charged in the case because of the due diligence measures it took.
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ArticleIs tracking adherence to stay-at-home mandates a privacy concern?
Google has offered health officials a way to use data to monitor people’s behavior during the government’s mandatory quarantines, but some say the gesture may “raise significant privacy concerns.”
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SEC’s Clayton stresses importance of coronavirus disclosures
With the close of the first quarter and earnings releases and investor calls around the corner, senior leadership at the SEC is pushing for full disclosure transparency regarding impact of the coronavirus pandemic.
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ArticleFed grants Wells Fargo temporary relief from asset cap restriction
An asset cap imposed on Wells Fargo in response to systemic failures at the bank in recent years has been temporarily modified to reduce limitations on its ability to distribute loans amid the coronavirus pandemic.
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ArticleFinCEN, OCC offer BSA compliance relief amid pandemic
Two federal agencies that oversee Bank Secrecy Act requirements have notified financial institutions they will agree to “reasonable delays” in the filing of required reports if institutions can show the delays are necessary due to the coronavirus pandemic.
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ArticleWhat government contractors need to know about coronavirus-related excusable delays, defenses
Government contractors seeking guidance on how to minimize costly delays and disruptions during the coronavirus (while preserving their rights) can look to these tips from a recent Webinar.