All Regulatory Enforcement articles – Page 20
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ArticleDaniel Kahn replaces Robert Zink at DOJ’s Criminal Division
The Department of Justice has named Daniel Kahn acting deputy assistant attorney general at its Criminal Division as it prepares to welcome a new, permanent director.
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Article
Ex-Deutsche Bank traders imprisoned for ‘spoofing’ roles
James Vorley and Cedric Chanu, former precious metals traders at Deutsche Bank, were each sentenced to one year and one day in prison for their respective roles in a scheme to manipulate the precious metals markets with fraudulent trades.
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Article
Distinction between CCO and company key to any liability framework
Despite best effort, a chief compliance officer has a lot to lose when his or her company faces enforcement. Acknowledging this as part of any potential CCO liability framework will be important to its success.
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Article
CJEU ruling opens Facebook, others to greater GDPR liability
The EU’s top court ruled any of the bloc’s national data protection authorities can pursue a privacy complaint against Facebook or any other Big Tech firm and not just the supervisory authority where the company has its European headquarters.
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Article
Lina Khan’s rise to FTC chair suggests aggressive antitrust enforcement
Lina Khan’s elevation to chair of the FTC on the same day her nomination was confirmed by the Senate signals the Biden administration’s intention to aggressively address antitrust issues.
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Article
First American Financial settles SEC charges for cyber-security failures
First American Financial Corp. reached a $487,616 settlement with the SEC for failing to maintain cyber-security disclosure controls and procedures that exposed more than 800 million title insurance records containing sensitive customer information.
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Article
Reported Amazon fine ($425M) ‘biggest test’ of GDPR enforcement yet
Amazon reportedly faces a fine of more than $425 million under the GDPR that would show EU regulators firmly have Big Tech companies—and their practices—in their crosshairs.
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Article
SEC probing GameStop, others over ‘meme stocks’ craze
Video game retailer GameStop, whose market volatility earlier this year led the so-called “meme stocks” craze, disclosed it is cooperating with an investigation launched by the Securities and Exchange Commission.
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Webcast
CPE Webcast: Managing policy updates in a sea of regulatory change
Updating corporate policies to correspond with an ever-changing, ever-growing list of regulations is putting pressure on already stretched corporate compliance functions. And the flood of new regulations will likely only increase going forward. Will you be able to keep up?
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Article
What might an overhauled PCAOB look to accomplish?
With no requirements for the PCAOB to feature a certain number of members from each political party, the SEC has the chance to staff the organization with a decidedly Democratic majority. What might such a Board set out to change?
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Webcast
CPE Webcast: Riding the waves of regulatory change
With a constant influx of new and changing regulatory requirements with increased scrutiny and enforcement, organizations can quickly fall behind and be drawn into a churn of reactive activities that distract from business objectives and use up valuable resources.
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Article
Australia’s NAB cited for ‘serious and ongoing non-compliance’ with AML laws
Australia’s financial regulator has identified “serious concerns” with National Australia Bank’s compliance with anti-money laundering and counter-terrorism financing rules but indicated it won’t fine the bank—for now.
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Article
CCO settles SEC charges of causing firm to breach fiduciary duties
The SEC announced settled charges with the chief compliance officer of investment adviser VII Peaks Capital for her alleged role in causing the firm to breach fiduciary duties.
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Article
SEC drops FCPA probe into Avianca
Avianca Holdings disclosed in a regulatory filing that the SEC has dropped its FCPA investigation into the company and will not recommend an enforcement action.
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Article
SEC pauses proxy voting rule enforcement amid review
SEC Chairman Gary Gensler announced he is directing staff to consider whether to recommend further regulatory action regarding proxy voting advice, leading the agency to pause related enforcement activity.
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Article
NYC Bar framework seeks clarity on when CCOs face SEC charges
The New York City Bar Association has proposed a framework for regulators like the SEC to use when considering charging chief compliance officers for misconduct that occurs on their watch.
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Article
OFAC bills Bulgarian sanctions as ‘single largest action targeting corruption’
Calling it the “single largest action targeting corruption to date,” the Office of Foreign Assets Control sanctioned three prominent Bulgarian individuals along with their network of 64 companies for their “extensive roles” in corruption in Bulgaria.
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Article
SEC, CFTC charge LJM for mishandling $1B in assets; chief risk officer settles
The SEC and CFTC filed charges against investment management firm LJM and two portfolio managers for misleading investors about the company’s risk management practices. Each agency separately reached settlements with LJM’s chief risk officer for his role in the alleged scheme.
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Article
Julius Baer pays $80M in FIFA corruption settlement
Swiss bank Julius Baer entered a deferred prosecution agreement and will pay $80 million for its role in a money laundering conspiracy linked to world soccer federation FIFA, the Department of Justice announced.
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Article
Report: DOJ launches investigation into Archegos collapse
The Department of Justice has reportedly launched an investigation into the collapse of Archegos Capital Management, which cost multiple big banks billions of dollars.
