All articles by Jeff Dale – Page 6
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News BriefSEC charges attorney over independence violations post-compliance engagement
The Securities and Exchange Commission charged a New York-based attorney for allegedly engaging in improper conduct by violating her obligations to remain independent after preparing an independent compliance report for a company.
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News BriefDOT launches first data privacy review of 10 biggest airlines
The U.S. Department of Transportation is looking to thwart the nation’s 10 largest airlines from monetizing passenger data or selling it to third parties.
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News BriefPCAOB fines KPMG China partners combined $150K over audit violations
The Public Company Accounting Oversight Board imposed collective fines totaling $150,000 against three partners at KPMG China for violations of standards related to their audit work at education service provider Tarena International.
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News BriefShort seller accuses Equinix of ‘selling AI pipe dream,’ accounting manipulation
Data center owner Equinix boasts artificial intelligence as a boon to business when power consumption costs related to implementing AI could be detrimental to its profitability, according to short seller Hindenburg Research.
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News BriefFINRA fines M1 Finance $850K in first influencer promos case
The Financial Industry Regulatory Authority fined Chicago-based financial technology company M1 Finance $850,000 as part of a settlement addressing alleged improper use of a social media influencer program.
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News BriefDOJ joins SEC in probing ADM accounting practices
ADM disclosed the Department of Justice joined the Securities and Exchange Commission in probing the food processing company’s accounting practices.
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News BriefArgus to pay $37M in DOJ case over misused regulator data
Economic data and research firm Argus Information and Advisory Services agreed to pay $37 million to settle charges from the Department of Justice alleging misuse of data obtained through federal regulatory contracts.
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News BriefFCA fines financial adviser $1.1M over British Steel advice, oversight lapses
The U.K. Financial Conduct Authority fined Inspirational Financial Management nearly £900,000 (U.S. $1.1 million) regarding alleged failures in advice and oversight provided to customers who were primarily members of the British Steel Pension Scheme.
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News Brief
FTC restores bipartisan balance with Ferguson, Holyoak confirmations
The appointments of two new commissioners on the Federal Trade Commission were confirmed, with the Democratic-led agency welcoming Republicans Andrew Ferguson and Melissa Holyoak.
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News BriefSkechers fined $1.25M over related person disclosure failures
Footwear company Skechers agreed to pay $1.25 million to settle charges by the Securities and Exchange Commission of failing to disclose payments to executives’ family members.
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ArticleCW National 2024 Q&A: JBS CECO on compliance post-settlement
Michael Koenig, global chief ethics and compliance officer at JBS Foods, previews his session on rebuilding the compliance department following settlements with the Department of Justice and Securities and Exchange Commission at CW’s National Conference in Washington, D.C.
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News BriefDOJ on sprint toward pilot whistleblower reward program
Deputy Attorney General Lisa Monaco said the Department of Justice will look to fill gaps in its whistleblower procedures with the launch of a 90-day sprint toward a DOJ-led pilot whistleblower reward program.
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News BriefEricsson promotes investigations head to CCO
Ericsson shook up its reporting structure with the promotion of Head of Corporate and Government Investigations Rebecca Rohr to chief compliance officer.
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News BriefMetropolitan Commercial Bank adds risk chief, AML officer
Metropolitan Commercial Bank announced the appointments of a chief risk officer and Bank Secrecy Act/anti-money laundering officer to bolster its reporting lines following a $30 million enforcement action from federal and state authorities last year.
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News BriefHG Vora fined $950K for beneficial ownership disclosure failures
New York-based investment adviser HG Vora Capital Management agreed to pay $950,000 to settle charges levied by the Securities and Exchange Commission alleging failure to report beneficial ownership regarding its stake at trucking transport company Ryder System.
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News BriefSEC charges Lordstown Motors with misleading EV investors
Bankrupt electric vehicle maker Lordstown Motors Corp. agreed to pay disgorgement of $25.5 million to settle charges from the Securities and Exchange Commission over alleged materially false and misleading statements regarding its flagship truck.
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News BriefGreen Dot estimates up to $50M in liabilities over proposed Fed order
Financial technology firm Green Dot Corp. estimated a pending consent order with the Federal Reserve Board will require a payment of between $20 million to $50 million.
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News BriefNYDFS fines Gemini $37M over compliance failures
The New York State Department of Financial Services fined cryptocurrency exchange Gemini Trust Company $37 million over alleged compliance failures related to lapses in safety and soundness.
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News BriefBarclays says FCA probe into AML controls closed
Barclays Bank disclosed an investigation by the U.K. Financial Conduct Authority into the bank’s anti-money laundering controls has closed without a penalty.
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News BriefWells Fargo says DOJ, SEC diversity hiring probes closed
Wells Fargo disclosed investigations by the Department of Justice and Securities and Exchange Commission into the bank’s diversity hiring practices concluded without enforcement action.