All Regulatory Enforcement articles – Page 133
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Former SEC Enforcement Director joins King & Spalding
Richard Walker, former Director of Enforcement at the Securities and Exchange Commission, has joined international law firm King & Spalding as a partner in the Special Matters & Government Investigations group, resident in the New York office.
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Uber works on its leadership and teamwork
Uber is taking steps to clean up its act. The company has hired Frances Frei as head of leadership and as the unofficial cheerleader for the company, whe will be teaching management skills at all levels and how to work as a team and lead an effort on business strategy.
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Those pesky hot mikes and insider-trading laws
Inside is a look at the actions of the Batista brothers, leaders of corrupt firm JBS, which highlights a part of any corruption resolution across the globe: If you hold back information from the government, you will be subject to prosecution for those crimes as well.
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Written protocols for compliance
Tom Fox explores written protocols, the foundation upon which an effective compliance program is built.
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Risk assessments
A detailed guide from the Man From FCPA on how to perform an effective risk assessment.
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McKinsey and KPMG face blowback in South Africa
Reports indicate both the international consultancy McKinsey and the international accounting firm KPMG have come under scrutiny for their work for the Gupta family and may be forced to self-disclose their findings to the U.S. government for potential FCPA violations.
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Hearings, investigations lie ahead for post-breach Equifax
The massive data breach that hit consumer credit rating firm Equifax is the catalyst for a run of Congressional hearings, new data protection legislation, and investigations by the Department of Justice and FTC.
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SEC: SunTrust improperly recommended higher-fee mutual funds
The SEC has charged the investment services subsidiary of SunTrust Banks with collecting more than $1.1 million in avoidable fees from clients by improperly recommending more expensive share classes of various mutual funds when cheaper shares of the same funds were available.
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Tone in an organization
Tom Fox explores the many levels of corporations and how they interact to create tone at the top, middle, and bottom.
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Structure of the CCO position
The Man From FCPA explores the three prisms by which the structure of the Chief Compliance Officer position can be evaluated: access, resources, and opportunities.
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Treasury in ‘hand-to-hand financial combat’ with North Korea
Current and future sanctions efforts by the Treasury Department to financially strike back against North Korean aggression were dissected by Assistant Treasury Secretary Marshall Billingslea during a recent House committee hearing.
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New York AG launches formal investigation into Equifax breach
As part of a formal investigation into the massive breach involving credit-reporting agency Equifax, which has effected about 143 million U.S. consumers, New York Attorney General Eric Schneiderman sent a letter to Equifax seeking additional information about the breach.
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What new headaches may befall FIFA?
A new and potentially very damaging turn has taken place in the ongoing FIFA corruption scandal. Miguel Maduro, former chairman of FIFA’s governance committee, said that if asked, he would provide specific accusations of top FIFA officials pressuring him to ignore regulations.
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Remediation and the Equifax data breach
Equifax has a long road to travel to get past the recent data breach that saw 143 million people’s personal information exposed to theft.The company will need to engage in significant remedial action, notes The Man From FCPA, if they hope to survive the upcoming fallout.
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State Street to pay $35M for disclosure failures
State Street today agreed to pay more than $35 million to settle charges that it fraudulently charged secret markups for transition management services and separately omitted material information about the operation of its platform for trading U.S. Treasury securities.
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New scandals; new lexicon for unethical conduct
In the FCPA world, the most dreaded question during an enforcement action is “where else?”—as in, where else are you engaging in bribery and corruption? After Wells Fargo, the lexicon may well expand to “what else?”—as in what other conduct is your company engaging in that is unethical?
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Going weird in international bribery and corruption
As Hunter S. Thompson once said, “When the going gets weird, the weird turn pro.” Such is the case of BSG Resources after accusations surfaced that the company had paid bribes to obtain a huge mining concession in Guinea—charges it vehemently denies.
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FOR: Neither admit nor deny
Allowing firms to enter into consent judgments without having to admit material facts or liability prevents excessive disruption of the regulatory/enforcement framework. Read more from Paul Weiss litigators Brad Karp and Susanna Buergel.
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AGAINST: Neither admit nor deny
Allowing defendants to settle cases without admitting or denying guilt deprives the public of transparency and accountability. The Honorable Judge Jed Rakoff for the United States District Court explores below.
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For leniency, confess all crimes
The JBS meat-packing scandal is a perfect example of why companies must provide every single shred of evidence of criminal conduct, or a plea agreement might not be worth much.