All Regulatory Enforcement articles – Page 140
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Blog
Disparaging a speak-up culture
Tom Fox explores the recent case of JPMorgan Chase when an employee’s former manager added material to a terminated employee’s file post termination to beef up the excuses for the termination. Not a good sign, says Fox, and possibly a sign of an ineffective compliance program.
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Next in line for regulatory troubles, Fiat?
Fiat, which was recently flagged by the EPA for pollution violations, could be a reminder to companies to scour the news for details on any regulatory investigations of their peers and perhaps to begin scrutinizing their own books and records, says The Man From FCPA Tom Fox.
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Morgan Stanley to pay $13M for overbilling clients
The Securities and Exchange Commission today announced that Morgan Stanley Smith Barney has agreed to pay a $13 million penalty to settle charges that it overbilled investment advisory clients due to coding and other billing system errors. The firm also violated the custody rule pertaining to annual surprise examinations. ...
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On the death of the ‘rogue engineer’
For The Man from FCPA Tom Fox, the most interesting thing about the Volkswagen indictments were not that ‘rogue engineers’ were charged but that executives who participated in the cover-up were indicted.
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Volkswagen to pay $4.3B in emissions-cheating scandal
Volkswagen will plead guilty and pay a total of $4.3 billion in criminal and civil penalties resulting from the company’s long-running emissions-cheating scandal. In addition, six Volkswagen employees are indicted in connection with the conspiracy. Jaclyn Jaeger reports.
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Banks and bankers on front line of AML fight
The first foreigner, Jens Sturzenegger, a former branch manager at Falcon Private Bank in Singapore, was recently convicted in the 1MDB scandal. Tom Fox reports.
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Article
A post-election perspective on financial regulatory compliance
The Trump administration might not follow the Republican playbook when it comes to scaling back enforcement across the board, writes Todd Cipperman.
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Second VW exec arrested: those pesky e-mails
As the recent arrest of another VW executive (this time in the United States) unfolds, The Man From FCPA Tom Fox ponders whether VW will actively assist U.S. law enforcement authorities in performing a substantive internal investigation.
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SEC issues $5.5 million whistleblower award
The SEC has awarded more than $5.5 million to a whistleblower who provided critical information that helped the SEC uncover an ongoing scheme. Jaclyn Jaeger reports.
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Banks reach final resolutions under Swiss Bank Program
The Department of Justice last week announced that it has reached final resolutions with banks that have met the requirements of the Swiss Bank Program, which provided a path for Swiss banks to resolve potential criminal liabilities in the United States, and to cooperate in ongoing investigations of the use ...
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SEC and DOJ allege insider trading related to hacked law firms
Yesterday, the SEC and the DOJ separately announced significant cases against three Chinese traders who made nearly millions in illegal profits by hacking into the computer networks of two "prominent New York-based law firms."
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SEC: hackers hit law firms, traded on nonpublic information
In a first-of-its-kind case, the SEC has charged a trio of Chinese hackers with stealing and trading on nonpublic, market-moving data from law firms.
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Former SEC Chief Litigation Counsel Solomon Joining Cleary Gottlieb
In late November, the SEC announced the departure of Matthew C. Solomon, the Chief Litigation Counsel for the SEC’s Enforcement Division. This week, law firm Cleary Gottlieb announced that Solomon will join the firm's Washington, D.C., office as a partner in January 2017.
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U.S., U.K. and German law firms team up to help whistleblowers
New York law firm Meissner & Associates and two European law firms—Naegele and London-based Brahams Dutt Badrick French—have teamed up to launch a first-of-its-kind collaborative platform to help Europeans call out financial wrongdoing and benefit from U.S. whistleblower laws.
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SEC charges two companies in whistleblower cases
For the first time ever, the SEC yesterday charged a company for retaliating against an internal whistleblower. It also marks the second enforcement action this week against a company that impeded an employee from communicating with the SEC. Jaclyn Jaeger reports.
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Forest Labs to pay $38M for False Claims Act violations
Forest Laboratories and its subsidiary, Forest Pharmaceuticals, have agreed to pay $38 million to resolve allegations that they violated the False Claims Act by paying kickbacks to induce physicians to prescribe its drugs. Jaclyn Jaeger has more.
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When the regulators fail
Tom Fox looks at an untapped area of concern with the Volkswagen emissions scandal: Why did no EU regulator catch on earlier?
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Study shows effects of whistleblowers on enforcement
The Man From FCPA Tom Fox explores a recent academic study that found a link between information provided by whistleblowers and “heightened enforcement outcomes.”
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Did Wells Fargo Give Prudential a Black Eye?
Tom Fox epxlores how the business relationship between Prudential and scandal-ridden Wells Fargo put Prudential in hot water.
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SEC enforcement director Ceresney to depart agency this month
The SEC announced today that Enforcement Director Andrew J. Ceresney will leave the agency by the end of this month. Ceresney has served as Enforcement Director (or Co-Director) since joining the SEC in April 2013. Deputy Director Stephanie Avakian will serve as Acting Director upon Ceresney’s departure,.