All Regulatory Enforcement articles – Page 21
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News BriefCanada’s AML agency fines RBC $5.5M over suspicious transaction reports
Royal Bank of Canada was assessed an administrative penalty of nearly 7.5 million Canadian dollars (then-U.S. $5.5 million) in November by the country’s financial intelligence agency for alleged deficiencies in its suspicious transaction reporting mechanisms.
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News BriefSFO raids AOG Technics office in fraud probe
The U.K. Serious Fraud Office launched a fraud investigation into AOG Technics over allegations the company supplied fake airplane engine parts to major airlines across the globe.
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News BriefFINRA fines four in securities lending sweep
The Financial Industry Regulatory Authority published disciplinary actions against four firms for failing to establish, maintain, and enforce a reasonably designed supervisory system over fully paid securities lending.
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PremiumCFTC’s Pham: ‘There will likely be more’ CCOs charged with individual liability
Caroline Pham of the Commodity Futures Trading Commission said she expects the regulator to pursue more individual liability cases against chief compliance officers, in the aftermath of landmark charges laid against the former CCO at Binance.
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News BriefDeutsche Wohnen earns CJEU win in high-profile GDPR appeal
German property company Deutsche Wohnen’s court win regarding a penalty levied against it for alleged violations of the General Data Protection Regulation carries notable ramifications for enforcement of the EU privacy law.
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PremiumSurvey: Companies bullish on new tech amid enhanced sanctions scrutiny
Emerging technologies like automation and generative AI are on the radar as difference-makers for businesses serious about keeping pace with increasing regulatory scrutiny toward third-party due diligence and sanctions compliance, a survey conducted by Compliance Week and Certa found.
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PremiumDOJ cooperation credit breakdowns: Albemarle, Tysers, H.W. Wood
Nicole Argentieri, acting head of the Department of Justice’s Criminal Division, breaks down where Albemarle, Tysers Insurance Brokers, and H.W. Wood went right—and wrong—on the cooperation credit and remediation fronts as part of their FCPA settlements with the agency.
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News BriefMallinckrodt dodges $40M SEC penalty in disclosure violation case
Pharmaceutical company Mallinckrodt, fresh out of its second bankruptcy, was spared having to pay a $40 million penalty levied by the Securities and Exchange Commission for alleged disclosure and accounting failures related to its underpaying of Medicaid rebates.
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News BriefDOJ announces international anti-bribery initiative
The Department of Justice will increase its efforts to build relationships and foster collaboration with its global counterparts to thwart bribery and corruption under a new strategy.
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News BriefBank of America unit fined $24M in FINRA spoofing case
Bank of America Securities agreed to pay $24 million in settling with the Financial Industry Regulatory Authority for allegedly failing to supervise the “spoofing” activities of two former traders in U.S. Treasury markets.
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PremiumOne company’s voluntary self-disclosure, two companies’ FCPA settlements
Nicole Argentieri, acting head of the Department of Justice’s Criminal Division, explained how the actions of Jardine Lloyd Thompson Group Holdings coming forward helped bring about the agency’s recent FCPA enforcements against Tysers Insurance Brokers and H.W. Wood.
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News BriefChina-based PwC affiliates fined $7M in historic PCAOB actions
The Public Company Accounting Oversight Board imposed $7 million in total penalties against two PwC affiliates under its first settlements with mainland Chinese and Hong Kong firms since the passage of the Holding Foreign Companies Accountable Act.
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WebcastCPE Webcast: What 2024 holds for compliance: Trends and forecasts
Review key changes in regulatory, legal, and compliance obligations in 2023 and how these are impacting organizations, in addition to learning practical steps compliance departments can take now to get ahead of the 2024 risk landscape.
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PremiumBinance’s compliance past, future detailed
There are a slew of compliance lessons to be learned from the $4.3 billion settlement that Binance, the world’s largest cryptocurrency exchange, reached with the U.S. government.
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News BriefBank of America fined $12M over demographic data reporting lapses
Bank of America will pay a $12 million penalty for allegedly reporting false mortgage lending data to the federal government, under a settlement reached with the Consumer Financial Protection Bureau.
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News BriefFirst American fined $1M by NYDFS over 2019 cybersecurity breach
First American Title Insurance Company agreed to pay a $1 million fine and implement stronger compliance measures for not securing customers’ personal data, the New York State Department of Financial Services announced.
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News BriefTD Bank unit fined $600K by FINRA over email review lapses
TD Private Client Wealth agreed to pay a $600,000 penalty levied by the Financial Industry Regulatory Authority for allegedly failing to review millions of employee emails as required by the self-regulatory organization’s rules.
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PremiumAll eyes on Companies House in U.K. corporate transparency efforts
The success of the U.K.’s latest legislative efforts to tackle financial crime depends on the capability of transforming what is often regarded as one of the country’s most passive regulators into a proactive—even aggressive—prosecuting authority.
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PremiumNo clear path for leniency for U.K. firms navigating Russian sanctions
U.K. companies might be wary of informing regulators they have potentially violated sanctions against Russia over fears they could be publicly criticized for even minor breaches.
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News BriefFTC eases AI use investigation process
The Federal Trade Commission approved a measure streamlining its ability to issue civil investigative demands in investigations relating to artificial intelligence use.