All articles by Jaclyn Jaeger – Page 76
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Blog
FinCEN: Beware of laundering Venezuela bribe money
The Financial Crimes Enforcement Network (FinCEN) issued an advisory, warning banks about widespread public corruption in Venezuela and what methods Venezuelan senior political figures may use to move and hide corruption proceeds.
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Blog
Telia Company and Uzbek subsidiary to pay $965M for FCPA violations
Sweden-based telecommunications provider Telia Company and its Uzbek subsidiary, Coscom, will pay $965 million in total penalties in a global settlement to resolve corruption charges arising out of a scheme to win business in Uzbekistan.
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Report: Anti-bribery compliance gaining steam
A new benchmark report jointly conducted by Compliance Week and Steele Compliance Solutions looks at companies’ anti-bribery and anti-corruption programs.
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GDPR and the elevated role of compliance
The hefty compliance requirements of GDPR are going to require companies to figure out how to separate personal data from the ability to link that data to a specific person. Easier said than done, writes Jaclyn Jaeger.
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Eni spills about its growing global bribery probe
A report filed this month by Italian oil giant Eni shows how corruption allegations against it now include Nigeria, Iraq, Kazakhstan, Algeria, and Congo. The number of enforcement authorities, employees, and subsidiaries involved is also spreading.
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FTC brings first cases enforcing EU-U.S. Privacy Shield
The U.S. Federal Trade Commission this month brought its first cases enforcing the EU-U.S. Privacy Shield, which was put in place last year to replace the U.S.-EU Safe Harbor framework.
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Braskem settles bribery class action for $10 million
Brazil-based petrochemical giant Braskem has reached a $10 million proposed settlement with U.S. investors for concealing its role in a bribery scheme involving state-owned oil company Petrobras.
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SEC: SunTrust improperly recommended higher-fee mutual funds
The SEC has charged the investment services subsidiary of SunTrust Banks with collecting more than $1.1 million in avoidable fees from clients by improperly recommending more expensive share classes of various mutual funds when cheaper shares of the same funds were available.
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U.K. officials talk enforcement, cooperation, more
At the 35th Cambridge Symposium on Economic Crime, British government officials provided valuable insight on regulatory priorities and how to stay right under the eyes of the law.
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Court deals setback to prosecutors in cross-border cases
In an age of increasing cross-border investigations, especially concerning FCPA violations, the use of compelled testimony, even when legally obtained, can derail a U.S. prosecution.
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New York AG launches formal investigation into Equifax breach
As part of a formal investigation into the massive breach involving credit-reporting agency Equifax, which has effected about 143 million U.S. consumers, New York Attorney General Eric Schneiderman sent a letter to Equifax seeking additional information about the breach.
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State Street to pay $35M for disclosure failures
State Street today agreed to pay more than $35 million to settle charges that it fraudulently charged secret markups for transition management services and separately omitted material information about the operation of its platform for trading U.S. Treasury securities.
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Corporate philanthropy at its finest
In the wake of Hurricane Harvey, many of the companies we might normally cover concerning compliance and risk issues made headlines for far better reasons: their generosity.
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Distilling lessons from the uptick in FCPA declinations
As the number of FCPA declinations is up, all indicators point to a general desire on the part of the DoJ and SEC to clear out old cases and re-evaluate which ones to pursue.
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MTS Systems: FCPA probes close with no action
MTS Systems, a global supplier of test systems and sensing solutions, said in a quarterly filing this month that it will not be facing an enforcement action regarding a previously disclosed investigation into potential violations of the Foreign Corrupt Practices Act.
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Blog
Formula One Group faces fraud probe by SFO
The Formula One Group has confirmed that the U.K. Serious Fraud Office is in its “pre-investigation” stage concerning fraud allegations made against it by a U.K. member of Parliament.
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Compliance remedies for new sanction headaches
Compliance officers will want to reevaluate their trade sanction compliance policies, following new sanctions legislation signed into law this month.
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Executing a sound GDPR data management strategy
If companies understand just one message between now and when the EU’s GDPR comes into force next year, that message is simply this: Clean up your data.
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Blog
Vantage Drilling: Justice Department ends FCPA probe
Vantage Drilling Company, an offshore drilling contractor, announced this week that it will not be facing an enforcement action from the Department of Justice regarding a previously disclosed investigation into potential violations of the Foreign Corrupt Practices Act.
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Blog
Stericycle faces FCPA probe
Stericycle, a medical-waste disposal company, disclosed in a recent securities filing that it is being investigated by the Securities and Exchange Commission and the Department of Justice for potential violations of the Foreign Corrupt Practices Act concerning the company’s operations in Latin America.