All Regulatory Enforcement articles – Page 107
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ArticleNew York AG cites ‘culture of noncompliance’ in NRA fraud lawsuit
Central to the New York Attorney General’s lawsuit seeking to dissolve the National Rifle Association are allegations that the nonprofit’s “culture of noncompliance” allowed EVP Wayne LaPierre and three other NRA officers to steal $64 million from the organization over three years.
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ArticleCCOs show resilience in early survey data; compliance-blind NRA in crosshairs
The National Rifle Association “Failed It” big time if a suit alleging a lack of compliance controls proves true. Meanwhile, we tip our caps to the stalwart CCOs who carry on despite a cut in pay and resources due to the pandemic.
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ArticleWorld Acceptance Corp. to pay $21.7M to resolve SEC FCPA case
World Acceptance Corp., a small-loan consumer finance company, has agreed to pay $21.7 million to resolve Securities and Exchange Commission charges for violations of the Foreign Corrupt Practices Act.
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ArticleSEC Enforcement Co-Director Steven Peikin to step down
The co-director of the Securities and Exchange Commission’s Division of Enforcement will step down from his post next week, after three years on the job.
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ArticleSFO confiscates $7M from ex-Afren execs in fraud case
The U.K. Serious Fraud Office announced it has secured orders confiscating £5.45 million (U.S. $7 million) from two former executives of oil and gas exploration company Afren.
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ArticleBritish Airways banking on drastic reduction of record GDPR fine
British Airways has hinted that it will qualify for a nearly 90 percent reduction of its original GDPR fine (U.S. $230 million) and end up paying just $26 million.
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ArticleConn. investment firm fined $100K for trading, compliance failures
A small Connecticut investment firm has agreed to pay a $100,000 fine to settle charges levied by the Securities and Exchange Commission regarding unfair trade allocation and accompanying compliance failures.
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ArticleBausch Health to pay $45M for misleading disclosures
The Securities and Exchange Commission charged Bausch Health (formerly Valeant Pharmaceuticals) and three former executives for improper revenue recognition and misleading disclosures in SEC filings and earnings presentations.
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ArticleAdvice for compliance from new DOJ Criminal Division head
Acting Justice Department Criminal Division head Brian Rabbitt shares his perspective on recent updates to the Evaluation of Corporate Compliance Programs guidance, the FCPA Resource Guide, and more.
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ArticleSFO charges Airbus subsidiary for corrupt acts in Saudi Arabia
The U.K. Serious Fraud Office announced charges against GPT Special Project Management and three individuals concerning a criminal investigation that began eight years ago into allegations of misconduct in Saudi Arabia.
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ArticleWhitford to pay $824K for sanctioned dealings in Iran
Cookware coating manufacturer Whitford Worldwide has agreed to pay $824,314 as part of a settlement with OFAC regarding subsidiary dealings in the sanctioned country of Iran.
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ArticleUnder Armour facing potential SEC enforcement over accounting practices
Under Armour revealed in a regulatory filing that its accounting practices are the subject of a pending enforcement action by the Securities and Exchange Commission.
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ArticleThe problem with ‘ghost CCOs’ and the haunting consequences
If you’re a small investment firm owner acting as your firm’s chief compliance officer, here are some scary stories that might keep you up at night.
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ArticleTaro Pharma to pay $206M to resolve price-fixing charges
Taro Pharmaceuticals will pay a $205.7 million criminal penalty to resolve charges as part of the Justice Department’s ongoing investigation into the generic pharmaceutical industry.
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ArticleGoldman Sachs reaches $4B 1MDB settlement with Malaysia
Goldman Sachs reached a nearly $4 billion agreement in principle with the Government of Malaysia to resolve all criminal and regulatory proceedings related to three 1MDB bond transactions.
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ArticleFirst American first charged with NYDFS cyber-regulation abuses
First American Title Insurance Company has become the first firm to face charges alleging violations of the New York State Department of Financial Services’ Cybersecurity Regulation.
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SEC fines UBS $10M over municipal bond offerings
UBS Financial Services has agreed to pay more than $10 million to resolve SEC charges that it circumvented the priority given to retail investors in certain municipal bond offerings.
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ArticleExelon subsidiary ComEd to pay $200M in lobbying, bribery case
Commonwealth Edison will pay a $200 million fine as part of a deferred prosecution agreement with the Department of Justice to resolve a criminal investigation into a years-long bribery scheme concerning lobbying practices in Illinois.
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ArticleMedical device maker projects $18M to settle FCA violations alleged by former CCO
Evidence of kickbacks and bribes brought to light by a whistleblower and former chief compliance officer has led Merit Medical Systems to reach an estimated $18 million agreement in principle with the DOJ to settle False Claims Act allegations.
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ArticleColorado investment firm fined $200K for inadequate compliance procedures
A Colorado-based investment advisory firm has been fined $200,000 and ordered by the SEC to improve its compliance practices regarding the purchase of securities on behalf of certain institutional investors.