Banking regs issue guidance on risks posed by bank-fintech relationships
Three federal banking regulators issued guidance on the risks posed by the use of third-party financial technology firms to deliver bank deposit products and services to customers.
Raytheon parent reserves $1.24B over improper payments, export control violations
RTX Corp., the parent company of Raytheon, disclosed in a public filing it has reserved $1.24 billion to resolve legacy legal matters with the Department of Justice, Securities and Exchange Commission, and Department of State.
DOJ orders Admera Health to pay $5.5M to settle kickback allegations
Admera Health agreed to pay more than $5.5 million to resolve allegations first brought by two whistleblowers that it paid kickbacks to third-party contractors, the Department of Justice said.
What’s on tap for CPPA from its deputy director of enforcement
Michael Macko, deputy director of enforcement at the California Privacy Protection Agency, described priorities for the agency now and in the near future during a recent board meeting.
Compensation survey finds average annual CCO pay jumped above $400K
A new compensation survey found base pay for chief compliance officers has risen 36 percent since 2021 to an average of more than $403,000.
CFPB warns against censoring whistleblowers via broad NDAs
The Consumer Financial Protection Bureau is warning companies against intimidating potential whistleblowers by forcing them to sign broad nondisclosure agreements to deter misconduct from coming to light.
DOJ orders Prysmian unit to pay $920K over alleged fabricated tests to military
Prysmian Cables and Systems USA agreed to pay $920,000 to settle allegations it falsified tests and compliance certifications concerning cable it sold to the U.S. military for use in vehicles, the Department of Justice said.
OFAC sets Aug. 2 deadline for firms to report Russian sovereign assets
Financial institutions holding Russian sovereign assets that have not reported them to the Treasury Department’s Office of Foreign Assets Control are now required to do so by Aug. 2.
FTC wants answers from Mastercard, JPMorgan, others on use of AI to collect data
Eight large companies, including Mastercard and JPMorgan Chase, have been ordered by the Federal Trade Commission to provide detailed reports about their possibly secret use of artificial intelligence to track customers and use the information to set prices.
Seminole Hard Rock promotes diversity chief
Seminole Hard Rock Support Services announced the promotion of Chief Diversity and Inclusion Officer Stephanie Piimauna to senior vice president of people and inclusion.
Kering Americas promotes GC to president
Luxury group Kering Americas announced the promotion of General Counsel Ewa Abrams to president, effective Aug. 1.
Gulfstream names chief sustainability officer
Gulfstream Aerospace has appointed Smitha Hariharan as vice president and chief sustainability officer.
SEC names interim acting director of exams division
The Securities and Exchange Commission announced that Division of Examinations Deputy Director Keith Cassidy, who was named interim acting co-director a year ago, will serve as interim acting director going forward.
FCC signals forthcoming enforcement against AT&T over February outage
The Federal Communications Commission is preparing to take enforcement action against AT&T for a data outage in February that blocked 92 million phone calls.
French bus part supplier CBM to pay $2.4M to settle DOJ fraud allegations
A French bus parts supplier will pay more than $2.4 million in penalties, disgorgement, and restitution to settle charges that it fraudulently misled its U.S. customers about the source of some of its parts.
Survey tackles aligning cross-generational views of ethics in the workplace
Companies may need to examine employees by age group to find out how likely some workers might be to ditch compliance to complete tasks.
Banking regs join FinCEN in proposing AML/CFT risk assessment rule
Four federal banking regulators have joined the Treasury Department’s Financial Crimes Enforcement Network in issuing a notice of proposed rulemaking that would require financial institutions to conduct more thorough risk assessments on their anti-money laundering/countering the financing of terrorism programs.
DOJ orders DaVita to pay $34M over alleged dialysis center kickback scheme
DaVita, a multi-state dialysis provider, agreed to pay more than $34 million to resolve allegations it engaged in numerous kickback schemes to doctors who referred Medicare patients to its dialysis centers, the Department of Justice announced.
SEC whistleblower to receive $37M award
A whistleblower will be paid $37 million by the Securities and Exchange Commission for providing original, credible information that led to a successful enforcement action.
Kindred hospice agrees to pay $19M in multi-state DOJ false claims case
A multi-state hospice home health provider agreed to pay $19.4 million to settle allegations that it paid kickbacks and knowingly billed federal health programs to treat non-terminally ill patients.
Bioenergy Devco appoints legal chief
Bioenergy Devco announced the appointment of Richard Gognat as chief legal officer.
Crowell & Moring adds ContextLogic GC, compliance chief as partner
Crowell & Moring announced the appointment of Joanna Rosen Forster, who most recently served as general counsel and chief compliance officer for ContextLogic, as a partner in the litigation group in its San Francisco office.
SingleStore welcomes chief legal officer
SingleStore, a real-time data platform to transact, analyse and contextualise, announced that Jay DeGooyer is joining the company as chief legal officer and corporate secretary.
PCS Retirement names GC, head of legal, risk, compliance
PCS Retirement has appointed Colleen Duffy as general counsel, head of legal, risk, and compliance.
Greenberg Traurig adds two former GCs as in-house counsels
Global law firm Greenberg Traurig added two former general counsels, Patrick Kassen and Matthew Bromberg, as in-house counsels.
Harvard University appoints general counsel
Harvard University announce that Jennifer O’Connor will serve as its next vice president and general counsel, effective July 29.
Flagship Pioneering announces general counsel
Bioplatform innovation company Flagship Pioneering announced that Dina Ciarimboli has been appointed as general counsel and executive partner.
Roku adds general counsel
Technology company Roku announced that Louise Pentland will join the company as senior vice president and general counsel, effective July 23.
Tufin names general counsel
Network and cloud security policy automation provider Tufin has named Christian Na as general counsel.
Falcon’s Beyond promotes GC to legal chief
Entertainment company Falcon’s Beyond Global announced the promotion of Bruce Brown to chief legal officer and corporate secretary.
Asbury Automotive Group appoints general counsel
Asbury Automotive Group announced the appointment of Dean Calloway as SVP, general counsel, and secretary.
HF Sinclair Corporation appoints general counsel
Energy company HF Sinclair Corporation announced that Eric Nitcher has been appointed as executive vice president and general counsel of the company.
Off-channel comms ‘hottest’ SEC mock exam topic, survey finds
Nearly three-quarters of compliance professionals at investment firms have made testing for off-channel and electronic communications surveillance a top priority in mock exams, according to a new poll, with more than half calling it the “hottest” topic of discussion.
DOJ lauds Guardant Health’s cooperation in cancer test false claims case
California-based cancer testing company Guardant Health agreed to pay more than $945,000 to settle allegations levied by the Department of Justice of violating the False Claims Act and Stark Law.
FTX reaches $4 billion settlement with CFTC in bankruptcy court lawsuit
FTX Trading and the Commodity Futures Trading Commission have agreed on a $4 billion settlement in bankruptcy court to settle the CFTC’s lawsuit against the failed crypto trading platform.
Avalo Therapeutics announces legal chief
Avalo Therapeutics announced that Paul Varki has joined the company as its chief legal officer.
Ascot Group announces group GC
Global specialty insurance company Ascot Group Limited announced that Michael Sevi has joined the firm as group general counsel.
Comstock appoints general counsel
Comstock Holding Companies announced the appointment of Robert Demchak to the executive leadership team as general counsel and corporate secretary.
Employees accuse OpenAI of illegal NDAs blocking whistleblower rights
Anonymous employees of OpenAI accused the company of requiring employees to sign nondisclosure agreements (NDAs) that “prohibited and discouraged” them from reporting securities law violations to federal regulators.
Updated UFLPA enforcement strategy targets aluminum, PVC, seafood imports
U.S. Customs and Border Protection will make it a priority to check shipments of aluminum, polyvinyl chloride, and seafood from China and elsewhere in the region for links to forced labor, according to an updated Uyghur Forced Labor Prevention Act enforcement strategy.
ExpertConnect Litigation Support appoints GC
ExpertConnect Litigation Support announced that Jay Prabhu has been named managing director and general counsel.
Seismic Therapeutic names general counsel
Seismic Therapeutic announced the appointment of Brendan St. Amant as general counsel.
AST SpaceMobile announces legal chief as CFO
AST SpaceMobile announced the appointment of Andrew Johnson, who currently serves as chief legal officer, to the additional role of chief financial officer.
Frontier Group Holdings names Newmont legal chief to board
Frontier Group Holdings announced the appointment of Nancy Lipson, former executive vice president and chief legal officer of Newmont Corporation, to its board of directors.
Amherst appoints Santander risk chief as deputy investment chief
The Amherst Group, a real estate investment, development and operating platform specializing in residential assets, announced that Santander US Capital Markets’ chief risk officer Paul Nicholson has joined the firm as the deputy chief investment officer.
ETS names chief legal officer
ETS, a global education and talent solutions organization, announced that Rick Sinkfield will join the company as chief legal officer.
CenterCal Properties adds general counsel
CenterCal Properties announced the addition of John Kim as its general counsel.
Coinme appoints legal, compliance chief
Coinme, a cryptocurrency cash exchange, announced the appointment of Robert Villaseñor as the company’s chief legal and compliance officer.
First Federal Bank of Kansas City announces risk chief
First Federal Bank of Kansas City announced that it has hired Jenny Michaels as its chief risk officer.
Clear Street adds chief risk officer
Financial services firm Clear Street appointed Atul Pawar as chief risk officer.