All Regulatory Enforcement articles – Page 139
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SEC, NASAA sign info-sharing agreement for crowdfunding
The North American Securities Administrators Association, representing the interests of state securities agencies, and the Securities and Exchange Commission signed an information-sharing agreement as new rules to facilitate intrastate crowd-funding offerings and regional offerings take effect. Jaclyn Jaeger has more.
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Individual prosecutions as deterrence
Perhaps it’s not the penalties and fines, but rather the individual prosecutions that deter bad behavior. The Man From FCPA Tom Fox reports.
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The rise of a new Department of Justice: Reading the tea leaves
There is always a shake-up at the DoJ whenever a new Presidential administration takes over, but exactly what Trump has in store is still a mystery—not a large one, however, writes Jaclyn Jaeger.
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FTI Consulting launches Microsoft Office 365 legal and regulatory data services
FTI Technology, the technology segment of FTI Consulting, has teamed with Microsoft to provide data governance and discovery consulting and services for Microsoft Office 365 users. FTI Technology assists companies with a broad range of needs around Office 365 usage to ensure legal and regulatory activities remain cost-effective and defensible.
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Massive fraud at BT Italia—the work of a few rogue employees?
The BT Italia scandal involved failures at all three levels of defense in the fraud arena: management, internal audit, and outside auditors. The Man From FCPA Tom Fox explores.
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Introducing Tanium Integrity Monitor
Tanium this week announced the release of its Tanium Integrity Monitor to extend its capabilities in the area of regulatory compliance. The new offering follows the release last quarter of Tanium Comply, designed to help Tanium customers streamline the process of meeting regulatory requirements for security configuration and vulnerability scanning.
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Wells Fargo fallout: More board oversight of risk management?
The Wells Fargo fraudulent accounts scandal is enforcing a good trend: shareholder activism directed at the board for better risk management. Tom Fox reports.
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Navigating anti-competition enforcement globally
Record fines, emerging enforcement priorities, and global collaboration among competition authorities are creating a host of legal and compliance risks for companies trying to navigate the global antitrust enforcement landscape. Jaclyn Jaeger has more.
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Yates’ exile from Justice Dept. could fuel corporate uncertainty
President Trump has fired Acting Attorney General Sally Yates over her opposition to a ban on Syrian refugees. Companies should pay close attention to aftershocks that could affect government prosecutions and FCPA enforcement, writes Joe Mont.
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VW: Fraud at the top?
More bad news for Volkswagen, as German authorities have expanded their investigation to 37 individuals from 21, including former CEO Martin Winterkorn. Tom Fox reports.
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The optics couldn’t be worse—VW departs its CCO
Barely a year after Christine Hohmann-Dennhardt took the position of head of compliance at Volkswagen, she is leaving the company. The Man From FCPA Tom Fox reports.
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SEC: BlackRock removed whistleblower incentives
Without admitting or denying the findings, asset management BlackRock agreed to pay a $340,000 penalty to settle charges that it improperly used separation agreements in which exiting employees were forced to waive their ability to obtain whistleblower awards. Jaclyn Jaeger reports.
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GM resolves SEC ignition switch investigation
Without admitting or denying any wrongdoing, General Motors has agreed to pay a $1 million civil penalty to resolve charges that deficient internal accounting controls prevented the company from properly assessing the potential impact on its financial statements of a defective ignition switch found in some vehicles. Jaclyn Jaeger reports.
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Allergan to pay $15M for disclosure failures in wake of hostile takeover bid
Drug company Allergan, headquartered in Dublin, Ireland, has agreed to admit securities law violations and pay a $15 million penalty for disclosure failures in the wake of a hostile takeover bid, the Securities and Exchange Commission announced. Jaclyn Jaeger has more.
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Deutsche Bank, Credit Suisse reach combined $12.5B settlements
Deutsche Bank and Credit Suisse last month agreed to pay a combined $12.5 billion in penalties related to the packaging, securitization, marketing, sale, and issuance of residential mortgage-backed securities, whereas Barclays and several of its U.S. affiliates are battling a civil complaint over similar claims. Jaclyn Jaeger reports.
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McKesson to pay $150M in prescription drug probe
Drug distributor McKesson will pay a record $150 million civil penalty for alleged violations of the Controlled Substances Act, the Justice Department announced today. The settlement also imposes new and enhanced compliance obligations, as well as an independent monitor—the first independent monitor of its kind in a CSA civil penalty ...
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As SEC broadens international enforcement focus, compliance efforts must adapt
Under Mary Jo White, the SEC greatly expanded its focus on cross-border enforcement, adding risk and compliance challenges for companies wherever they are based. Joe Mont reports.
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SEC oversight in the Digital Age
Big Data is the compliance buzzword of the day, but at the SEC, high technology is both a challenge and an opportunity. Jaclyn Jaeger has more.
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Wither the attorney-client privilege?
Attorney-client privilege is once again under siege, writes Tom Fox—this time in a lawsuit being brought by the former general counsel of Bio-Rad, Sanford Wadler, who is suing his former employer for wrongful termination.
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Moody’s to pay $864M arising from conduct leading up to financial crisis
Moody’s Investors Service, Moody’s Analytics, and their parent, Moody’s, have reached a nearly $864 million settlement agreement with the Department of Justice, 21 states, and the District of Columbia to resolve allegations arising from Moody’s role in providing credit ratings for residential mortgage-backed securities and collateralized debt obligations. Jaclyn Jaeger ...