All Regulatory Enforcement articles – Page 25
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FTC cases thrust COPPA compliance into spotlight
The Federal Trade Commission’s recent children’s privacy enforcement activity—including fines against Microsoft and Amazon—leaves no doubt businesses must make complying with the Children’s Online Privacy Protection Act a top priority.
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News Brief
JPMorgan unit fined $4M over record retention violations
JPMorgan Securities agreed to pay $4 million to settle charges levied by the Securities and Exchange Commission regarding record retention violations related to the deletion of approximately 47 million electronic communications.
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News Brief
French DPA fines adtech firm Criteo $44M under GDPR
Adtech firm Criteo was assessed a penalty of €40 million (U.S. $44 million) for multiple alleged violations of the General Data Protection Regulation, including failing to verify it gained consent to process the data of European Union citizens.
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News Brief
SEC bars convicted ex-CCO at investment adviser from industry
The convicted former chief compliance officer at an unnamed New York-based investment adviser was barred from working in the industry by the Securities and Exchange Commission.
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News Brief
FTC sues Amazon over Prime enrollment, ‘cancellation trickery’
The Federal Trade Commission filed a complaint against e-commerce giant Amazon for allegedly enrolling consumers into Amazon Prime without their consent and making it difficult to cancel Prime subscriptions.
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News Brief
Marcum fined $13M for control failures magnified by SPAC client boom
Marcum agreed to pay $13 million in penalties levied by the Securities and Exchange Commission and Public Company Accounting Oversight Board for alleged quality control failures stemming from the audit firm’s work with special purpose acquisition company clients.
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News Brief
Insight Partners fined $1.5M over excess fees, conflicts of interest
Insight Venture Management agreed to pay a $1.5 million penalty in settling with the Securities and Exchange Commission for allegedly overcharging management fees and failing to disclose conflicts of interest regarding fee calculations.
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News Brief
Stanley Black & Decker avoids fine in SEC executive perks case
Tool manufacturer Stanley Black & Decker avoided a civil penalty in settling with the Securities and Exchange Commission regarding alleged violations of executive perk disclosure rules.
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News Brief
OFAC orders Swedbank Latvia to pay $3.4M over Crimea sanctions violations
Swedbank Latvia agreed to pay more than $3.4 million to resolve apparent U.S. sanctions violations in the Crimea region of Ukraine, the Office of Foreign Assets Control announced.
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News Brief
PIMCO to pay $9M in SEC disclosure, policy failure settlements
Pacific Investment Management Company agreed to pay a combined $9 million to resolve two separate actions brought by the Securities and Exchange Commission regarding alleged violations of the Advisers Act.
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News Brief
S.C.-based St. Francis to pay $36.5M in false claims settlement
South Carolina-based healthcare system St. Francis agreed to pay $36.5 million as part of a settlement with the Department of Justice addressing alleged violations of the False Claims Act, Stark Law, and Anti-Kickback Statute.
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News Brief
FCC forms consumer data privacy task force
The Federal Communications Commission announced the launch of a new task force to coordinate privacy and data protection efforts at the agency, which oversees a telecommunications industry often targeted by cybercriminals.
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News Brief
OCC: Union Bank fined $15M for ‘deceptive’ account disclosure practices
The Office of the Comptroller of the Currency announced a $15 million civil penalty against MUFG Union Bank for “deceptive practices” caused by alleged weaknesses in execution of internal controls and procedures.
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News Brief
Swedish DPA fines Spotify $5.4M for ‘low level’ GDPR lapses
Sweden’s data protection authority levied a fine of 58 million Swedish krona (U.S. $5.4 million) against music streaming service Spotify following an audit on how the company handles customers’ rights to access their personal data.
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News Brief
SEC charges Sabby Management over short sales
New Jersey-based investment adviser Sabby Management and its managing partner were charged by the Securities and Exchange Commission with engaging in a fraudulent short selling scheme involving the stocks of nearly a dozen public companies.
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Webcast
CPE Webcast: Lessons learned from privacy enforcement actions and emerging trends
In 2023, more American organizations than ever need to comply with stricter and wider-reaching requirements for collecting and processing personal data.
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News Brief
Pharmacy holding company CCO convicted in $50M Medicare fraud
Steven King, the chief compliance officer of a defunct pharmacy holding company, was found guilty of conspiracy to commit healthcare fraud and wire fraud for unnecessarily billing Medicare for more than $50 million in medical supplies.
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News Brief
Treasury to review its compliance, enforcement efforts
The Treasury Department announced steps it is taking to improve its own compliance efforts, including a reassessment of the way it pursues enforcement actions.
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News Brief
SEC continues crusade against crypto with Coinbase charges
The Securities and Exchange Commission continued its crackdown on the digital asset industry, charging cryptocurrency exchange Coinbase with violating federal securities laws.
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News Brief
Cantaloupe fined $1.5M in SEC accounting fraud case
Electronic payments software company Cantaloupe agreed to pay a $1.5 million penalty to settle allegations of accounting fraud levied by the Securities and Exchange Commission arising from improper revenue recognition practices.