All articles by Jaclyn Jaeger – Page 84
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Blog
Deutsche Bank, Credit Suisse reach combined $12.5B settlements
Deutsche Bank and Credit Suisse last month agreed to pay a combined $12.5 billion in penalties related to the packaging, securitization, marketing, sale, and issuance of residential mortgage-backed securities, whereas Barclays and several of its U.S. affiliates are battling a civil complaint over similar claims. Jaclyn Jaeger reports.
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McKesson to pay $150M in prescription drug probe
Drug distributor McKesson will pay a record $150 million civil penalty for alleged violations of the Controlled Substances Act, the Justice Department announced today. The settlement also imposes new and enhanced compliance obligations, as well as an independent monitor—the first independent monitor of its kind in a CSA civil penalty ...
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Rolls-Royce responds to $800M global resolution in FCPA case
British engineering company Rolls-Royce has agreed to pay the United States nearly $170 million as part of an $800 million global resolution with U.S., U.K., and Brazilian authorities into a long-running bribery scheme. Jaclyn Jaeger reports.
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SEC oversight in the Digital Age
Big Data is the compliance buzzword of the day, but at the SEC, high technology is both a challenge and an opportunity. Jaclyn Jaeger has more.
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Debating ‘anything of value’ under the FCPA
Are U.S. enforcement agencies interpreting the term “anything of value” under the FCPA too broadly? Jaclyn Jaeger explores both sides of the debate.
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Moody’s to pay $864M arising from conduct leading up to financial crisis
Moody’s Investors Service, Moody’s Analytics, and their parent, Moody’s, have reached a nearly $864 million settlement agreement with the Department of Justice, 21 states, and the District of Columbia to resolve allegations arising from Moody’s role in providing credit ratings for residential mortgage-backed securities and collateralized debt obligations. Jaclyn Jaeger ...
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Morgan Stanley to pay $13M for overbilling clients
The Securities and Exchange Commission today announced that Morgan Stanley Smith Barney has agreed to pay a $13 million penalty to settle charges that it overbilled investment advisory clients due to coding and other billing system errors. The firm also violated the custody rule pertaining to annual surprise examinations. ...
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Zimmer Biomet to pay $30M to resolve FCPA violations
Medical-device maker Zimmer Biomet Holdings has agreed to pay more than $30 million to resolve parallel SEC and Department of Justice investigations into the company’s repeat violations of the Foreign Corrupt Practices Act. Jaclyn Jaeger reports.
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Volkswagen to pay $4.3B in emissions-cheating scandal
Volkswagen will plead guilty and pay a total of $4.3 billion in criminal and civil penalties resulting from the company’s long-running emissions-cheating scandal. In addition, six Volkswagen employees are indicted in connection with the conspiracy. Jaclyn Jaeger reports.
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ArticleAnti-corruption compliance lessons from Teva’s FCPA case
Teva Pharmaceuticals conducted bribery on a massive, international scale and became a case study for FCPA watchers everywhere. Jaclyn Jaeger reports.
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New report scores public procurement regulatory systems
For the first time, you can now check the scores of public procurement regulatory systems in 180 different countries, thanks to a new benchmark report by the World Bank. Jaclyn Jaeger reports.
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Mondelez International to pay $13M in FCPA case
Mondelez International, a beverage and snack-food company, has agreed to pay $13 million in civil penalties to the Securities and Exchange Commission for violations of the Foreign Corrupt Practices Act. Jaclyn Jaeger reports.
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SEC issues $5.5 million whistleblower award
The SEC has awarded more than $5.5 million to a whistleblower who provided critical information that helped the SEC uncover an ongoing scheme. Jaclyn Jaeger reports.
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Greek authorities raid Novartis offices in bribery probe
Novartis is facing a fresh bribery probe, this time in Greece, where authorities there have raided the company’s offices searching for electronic documents and files. Jaclyn Jaeger reports.
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Ethics lessons from the Flint water crisis
Flint’s lead-poisoned water is more than just a technical failure, writes Jaclyn Jaeger. It’s a systemic governmental failure with leadership as toxic as Flint’s water itself.
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A country-by-country assessment of bribery risk
The 2016 TRACE Matrix is out, but is its data on international bribery hotspots better than Transparency International’s data? Jaclyn Jaeger explores.
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Banks reach final resolutions under Swiss Bank Program
The Department of Justice last week announced that it has reached final resolutions with banks that have met the requirements of the Swiss Bank Program, which provided a path for Swiss banks to resolve potential criminal liabilities in the United States, and to cooperate in ongoing investigations of the use ...
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Another Infosys chief compliance officer abruptly departs
Infosys Limited announced that David Kennedy, general counsel and chief compliance officer, and the company have mutually agreed that Kennedy’s employment with the India-based software giant will cease on Dec. 31, 2016.
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General Cable to pay $76M in FCPA case
General Cable today agreed to pay a combined $76 million to resolve parallel investigations with the SEC and Department of Justice related to violations of the Foreign Corrupt Practices Act. The company agreed to pay an additional $6.5 million penalty to the SEC to settle separate accounting-related violations. Jaclyn Jaeger ...
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Teva to pay $519M to settle FCPA charges
Teva Pharmaceutical Industries will pay $519 million to settle charges that it violated the FCPA; while global construction company Odebrecht and petrochemical company Braskem (both based in Brazil) will pay a combined penalty of $3.5 billion to settle the largest foreign bribery case in history. Jaclyn Jaeger reports.