All articles by Jaclyn Jaeger – Page 92
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Blog
French tax authorities seek €356 million from Booking.com
French tax authorities are seeking €356 million (approximately US$404 million) from Booking.com, a unit of online hotel reservation company Priceline Group, to recover what they claim are unpaid income taxes and value-added taxes, the company disclosed in a quarterly report.
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Two former Deutsche Bank employees indicted on fraud charges
The Department of Justice announced today the indictment of two former Deutsche Bank traders—the bank’s supervisor of the pool trading desk in New York and a derivatives trader in London—for their alleged roles in a scheme to manipulate the USD London InterBank Offered Rate, a benchmark interest rate to which ...
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Former CalPERS CEO gets four years in prison
A California federal judge yesterday sentenced the former chief executive officer of the California Public Employees Retirement System to four years and six months in prison for engaging in a bribery and corruption scheme.
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Defining compliance program effectiveness
During a keynote panel at Compliance Week 2016, enforcement officials from the Securities and Exchange Commission and the Department of Justice spoke candidly about compliance program effectiveness, personal liability, and more. Jaclyn Jaeger reports.
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CW2016: Practical implications of the Yates Memo
At Compliance Week 2016 last week, Jaclyn Jaeger covered the conversation between current and former enforcement officials, as well as compliance officers, on how the “Yates Memo” is affecting them from a real-world standpoint.
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BlogCW2016: SEC and DoJ speak on personal liability
Enforcement heads from the SEC and Department of Justice kicked off Compliance Week 2016 in Washington D.C. this week, speaking candidly about compliance program effectiveness, personal liability, and much more. Jaclyn Jaeger reports.
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SEC awards two more whistleblowers
The SEC is awarding more than $450,000 to two individuals for a tip that led the agency to open a corporate accounting investigation and for their assistance once the investigation was underway. The whistleblower award is the third announced by the SEC in the past week, says CW’s Jaclyn Jaeger, ...
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FINRA fines compliance officer for AML compliance failures
The Financial Industry Regulatory Authority has fined Raymond James & Associates and Raymond James Financial Services a total of $17 million for widespread failures related to the firms’ anti-money laundering programs. RJA’s former AML compliance officer was also fined and suspended for three months.
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ArticleCompanies now have federal remedy to protect trade secrets
Passage this month of the Defend Trade Secrets Act creates for the first time a federal civil cause of action for misappropriation of trade secrets, giving U.S. companies a wide range of remedies—but its new whistleblower protections also call for new reporting obligations. Jaclyn Jaeger explores.
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Australia bolsters antitrust enforcement
Australian regulators are aggressively enforcing that nation’s competition laws, demonstrated by a wave of significant enforcement actions reached in just the last couple of months. Multinationals with operations in Australia should heed the warning. Jaclyn Jaeger has more.
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The many facets of a data breach
Every industry faces the threat of a data breach, but how those breaches are actually carried out can vary significantly industry to industry. Jaclyn Jaeger explores how companies can better focus their security efforts on the most vulnerable areas.
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CCOs feeling the heat of regulatory scrutiny
The threat of increasing personal liability has compliance officers on the defensive, especially in light of the newly established compliance counsel role within the Department of Justice’s Fraud Section. Jaclyn Jaeger looks into how CCOs are dealing with this intensified level of direct scrutiny on their performance.
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Walmart prevails in shareholder FCPA-related derivative case
Walmart’s board of directors successfully moved to dismiss a shareholder FCPA-related derivative claim, in which shareholders accused the directors of breaching their fiduciary duties in connection with a massive bribery and corruption scandal at the retail giant’s Mexico operations. Jaclyn Jaeger reports.
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FIFA audit and compliance committee chair resigns
The aftermath of the FIFA corruption scandal continues on, with the resignation last week of Domenico Scala, chair of FIFA’s audit and compliance committee. Scala resigned in protest over a governance change made at the international governing body of professional soccer.
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Amedisys chief compliance officer to take one year paid leave
Amedisys, a home health and hospice care company, said in a securities filing that Jeffrey Jeter, the company’s chief compliance officer, will take one year of paid leave under a new employment agreement between the company and Jeter.
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Telenor offers lessons on joint ventures
A report published last month by Deloitte details how Norwegian telecommunications company Telenor handled its 33 percent ownership in VimpelCom. Although the report did not find any evidence that employees engaged in corrupt activity, it did uncover several internal weaknesses in Telenor. Jaclyn Jaeger looks at lessons learned.
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Telenor reshuffles its board
Telenor this week appointed three new members to its board, following the resignation of three former directors. The restructuring of Telenor’s board follows a report issued by Deloitte on how Telenor handled its 33% ownership of Amsterdam-based telecommunication services provider VimpelCom, which in February agreed to pay $795 million in ...
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Theranos further restructures its board, operations
Theranos yesterday made further changes to board of directors, as the ailing biotech start-up faces civil and criminal investigation into whether it defrauded investors. The company also announced the retirement of Sunny Balwani as president and chief operating officer.
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BlogOECD: More countries commit to tackle tax evasion
The Organization for Economic Cooperation and Development and the Global Forum on Transparency and Exchange of Information for Tax Purposes has announced that Bahrain, Lebanon, Nauru, Panama, and Vanuatu are now committed to sharing financial account information automatically with other countries. Jaclyn Jaeger has more.
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Calls to reform False Claims Act revisited
Is it time to reform the False Claims Act? The answer depends on whom you ask, says Jaclyn Jaeger. Critics argue that it leads to unfair penalties and unjust results for companies; others say it empowers whistleblowers to help the government conquer fraud.