All Regulatory Enforcement articles – Page 113
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Article
Ex-KPMG leader atop 'chain of corruption' gets a year and a day in jail
A former KPMG leader was sentenced to one year and one day in federal prison and three years of supervised release for his role in a scheme to subvert the regulatory inspection process.
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Article
Merrill Lynch to pay $300K for failing to ‘promptly’ produce audit trail data
Merrill Lynch must pay a $300,000 civil monetary penalty for failing to promptly produce to the CFTC certain required records and, separately, failing to supervise its employees and agents.
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Article
CFPB: First enforcement brought under international money transfer rule
The CFPB has brought its first enforcement action for violations of a rule that took effect in 2013 designed to protect consumers who electronically transfer money from the United States to other countries.
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ArticleGovernment watchdog group targets PCAOB performance
The PCAOB is taking heat from a government watchdog group, which says the audit regulator is “doing a feeble job” protecting investors.
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ArticleMallinckrodt to pay $15.4M over kickback allegations
Pharmaceutical company Mallinckrodt is set to pay $15.4 million to the Justice Department to resolve allegations of illegal kickbacks to doctors in the form of lavish dinners and entertainment.
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ArticleOptions Clearing Corp. fined $20M over risk policies
Options Clearing Corp. will pay a combined $20 million in penalties to the SEC and CFTC to settle charges that it failed to implement certain risk management policies as required by U.S. laws and regulator rules.
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Article
Compliance lessons from the Google/Uber trade secrets mess
A federal grand jury’s indictment of Anthony Scott Levandowski for allegedly stealing trade secrets from Google may be a wake-up call to protect intellectual property more aggressively.
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ArticleGoogle, YouTube reach $170M ‘groundbreaking’ settlement for violating children’s privacy
Google and its subsidiary YouTube will pay $170 million to settle allegations that the video-sharing service illegally collected personal information from children without their parents’ consent.
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ArticleDanske reported to police over investment mis-selling
Denmark’s financial regulator has filed a criminal complaint against Danske Bank over a mis-selling scandal that saw its former interim chief executive get fired in June this year.
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ArticleJuniper settles FCPA case with SEC for $11.7M
Juniper Networks has reached an $11.7 million settlement with the SEC for violations of the Foreign Corrupt Practices Act concerning its sales practices in Russia and China.
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Article
SEC settles with RSM over audit independence issues
The SEC has settled charges with RSM related to numerous auditor independence violations, spanning more than 100 audit reports across 15 clients.
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ArticleSAExploration ousts senior leadership amid SEC probe
SAExploration Holdings announced the SEC has launched an investigation into areas of its accounting from 2015-16. The company also disclosed a significant reshuffling of its senior leadership team.
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ArticleDeutsche Bank to pay $16M in FCPA case over hiring practices
Deutsche Bank has become the latest financial institution to pay a penalty for violations of the Foreign Corrupt Practices Act over questionable hiring practices, showcasing a litany of compliance failures.
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ArticleIs whistleblowing working? New claims raise questions
Sweeping, open allegations of fraud against major public companies raise fresh questions about the effectiveness of regulatory whistleblower programs.
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Article
American Airlines to pay $22.1M over falsified mail delivery allegations
American Airlines has agreed to pay $22.1 million to resolve allegations of violations of the False Claims Act regarding the reporting of international delivery times.
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ArticleTherapeuticsMD to pay $200K for Reg FD violations
Pharmaceutical company TherapeuticsMD agreed to pay a $200,000 penalty to resolve charges brought by the SEC for Reg FD violations. The case imparts some compliance lessons.
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Article
Cantor Fitzgerald, BMO Capital to pay $4.5M for mishandling ADRs
Brokers Cantor Fitzgerald and BMO Capital Markets will combine to pay more than $4.5 million to settle charges of improper handling of “pre-released” American Depositary Receipts.
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Article
Avianca discloses internal FCPA investigation
Avianca Holdings disclosed in a securities filing that it is investigating possible violations of the U.S. Foreign Corrupt Practices Act concerning free and discounted airline tickets and upgrades given to government officials in certain countries.
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Article
Suspecting illicit assets, British police freeze record $121M
The U.K.’s National Crime Agency announced it has frozen eight bank accounts containing more than £100m (U.S. $121 million), which it suspects derived from bribery and corruption overseas. This represents the largest amount of money frozen to date.
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ArticleCFTC files charges over fraudulent binary options trading scheme
The CFTC is pursuing enforcement against five entities and four individuals for engaging in a fraudulent scheme to solicit global customers for the purported purpose of trading illegal, off-exchange binary options.