All Regulatory Enforcement articles – Page 101
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Article
Analysis: With Clayton leaving, SEC likely to target financial institutions
SEC Chairman Jay Clayton will step down from his post at the end of the year, allowing the Biden administration to choose his successor immediately upon taking over the White House.
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ArticleEven with divided Congress, Wall Street should brace for Biden presidency
Should Republicans hold on to their majority in the Senate, President-elect Joe Biden could still find ways to pass sweeping economic legislation during his first term.
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ArticleFormer Wells Fargo CEO Stumpf to pay $2.5M in SEC settlement
Former Wells Fargo CEO John Stumpf has agreed to pay $2.5 million to settle charges brought by the SEC for his role in misleading investors in connection with the bank’s infamous fake account scandal.
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ArticleSEC enforcement priorities under Biden: Reading the tea leaves
Careful consideration as to what new tone, direction, and priorities the SEC’s Division of Enforcement will take under Joe Biden can help you reduce compliance risk.
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ArticleTicketmaster UK fined $1.6M under GDPR for 2018 data breach
The U.K. Information Commissioner’s Office fined Ticketmaster £1.25 million (U.S. $1.6 million) for its failures relating to a 2018 data breach by a third party.
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ArticleNikola discloses subpoenas over fraud allegations
Electric truck startup Nikola disclosed in a regulatory filing it has received subpoenas from the SEC and the Department of Justice regarding fraud allegations raised in a short-seller report in early September.
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ArticleBA, Marriott fine reductions latest wrench in GDPR enforcement harmony
Lack of clarity on fines has dogged the GDPR since it took effect in May 2018, and the recent dramatic penalty reductions handed down by the U.K. in the cases of British Airways and Marriott certainly won’t help.
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ArticlePfizer facing FCPA probes into China operations
Pharmaceutical firm Pfizer announced in a recent regulatory filing that it has received requests from the Department of Justice and the Securities and Exchange Commission regarding the company’s operations in China.
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ArticleJulius Baer reserves $80M for FIFA corruption settlement
Julius Baer has set aside nearly $80 million in a proposed settlement with the Department of Justice regarding the agency’s corruption investigation linked to world soccer federation FIFA.
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ArticleCFPB under Biden will likely get new director, new direction
The Consumer Financial Protection Bureau is likely to revert to its more aggressive, Obama-era version of itself under a Biden administration.
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Article
JPMorgan Chase facing potential fine for internal control deficiencies
A subsidiary of JPMorgan Chase is facing a potential civil penalty “related to historical deficiencies in internal controls and internal audit over certain advisory and other activities.”
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ArticleCalifornia accounting board fines KPMG $1.3M for cheating scandal
California and its Board of Accountancy has fined audit firm KPMG $1.3 million after elements of its inspection and internal exam cheating scandals were run through the state.
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Article
In second drastic reduction, ICO fines Marriott $23.8M
The Marriott GDPR fine handed down by the U.K. Information Commissioner’s Office is less than 20 percent of the original number the regulator proposed, the second time this month such a drastic reduction has taken place.
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ArticleAirline Services Ltd to pay $3.9M, agrees to DPA in bribery case
The U.K.’s Serious Fraud Office has levied penalties worth nearly £3 million (U.S. $3.9 million) against defunct aircraft refurbishing company Airline Services Limited for violating the country’s anti-bribery laws.
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ArticleGE reserves $100M for potential SEC accounting enforcement
General Electric has set aside $100 million relating to a potential SEC enforcement action that could encompass several areas of alleged accounting failures.
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ArticleCFTC guidance details path to reduced enforcement penalties
The CFTC issued guidance that spells out how companies that self-report violations, cooperate with investigators, and remediate their issues can qualify for a “substantially reduced penalty” on any subsequent enforcement action.
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ArticleBribes, falsified records cost Beam Suntory $19.6M in FCPA settlement
Alcoholic beverage maker Beam Suntory agreed to pay $19.6 million to resolve Foreign Corrupt Practices Act charges of improper payments by its Indian subsidiary.
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ArticleU.K.’s SFO lays out expectations in new DPA guidance
The U.K. Serious Fraud Office has published its latest internal guidance on the threshold companies must meet before they are offered a deferred prosecution agreement.
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ArticleExperian to appeal ICO enforcement notice over data protection failures
The U.K. Information Commissioner’s Office issued an enforcement notice against Experian, ordering the credit reference agency to make “fundamental changes” to how it handles personal data related to its direct marketing services.
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ArticlePurdue Pharma case more than an $8B fine
Compliance officers in the pharmaceutical and healthcare industries should look beyond the $8 billion fine Purdue Pharma received from the DOJ and at the bigger enforcement trend highlighting the need for better oversight in the field.