All Regulatory Enforcement articles – Page 27
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ArticleHBOS case latest example of U.K. senior exec accountability woes
The Prudential Regulation Authority and Financial Conduct Authority ending their six-year investigations into former senior managers at HBOS without enforcement serves as reminder of the United Kingdom’s checkered history of bringing executives to book.
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ArticleClarity lacking in tribunal report on KPMG’s Carillion, Regenersis failings
The release of the independent tribunal report into the misconduct of KPMG and five of its former employees for falsifying information in the audits of Carillion and Regenersis provides further details about how the work was doctored—but not why.
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ArticleCredit Agricole to pay $1.1M to settle sanctions violations by 2 subsidiaries
Paris-based Crédit Agricole Corporate and Investment Bank will pay a total of approximately $1.1 million to settle charges its subsidiaries violated U.S. sanctions in five sanctioned countries.
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ArticleBiogen finalizes $900M settlement in false claims whistleblower suit
Biogen finalized a $900 million settlement concerning alleged kickbacks it paid to doctors to induce them to prescribe the company’s drugs and not those of its competitors.
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ArticleOracle to pay $23M to settle FCPA violations in 3 countries
Oracle Corp. will pay more than $23 million to settle allegations laid by the Securities and Exchange Commission it violated the Foreign Corrupt Practices Act when its subsidiaries in India, Turkey, and the United Arab Emirates bribed foreign officials for business.
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ArticleU.K. bill would empower Companies House as AML regulator
The Economic Crime and Corporate Transparency Bill aims to stem the flow of dirty money coming into the United Kingdom by giving Companies House more power and resources to help combat money laundering.
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ArticlePhilips to pay $1.3M in second kickback settlement in month
Philips RS North America agreed to pay approximately $1.3 million to settle charges it unlawfully paid kickbacks as part of its second resolution addressing alleged False Claims Act violations this month.
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ArticleFlorida business settles landmark FCA whistleblower case involving PPP loan
A Florida-based investment fund will pay approximately $22,000 as part of a settlement resolving the first False Claims Act whistleblower case involving a Paycheck Protection Program loan in which the United States intervened.
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ArticleCompass Minerals fined $12M for disclosure control lapses
Compass Minerals International, a Kansas-based mining company, agreed to pay a $12 million fine to the Securities and Exchange Commission to resolve allegations deficiencies in its disclosure controls led to failures at facilities it operates in Canada and Brazil.
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ArticleFriedman to pay $1.5M for missed red flags in 2 audits
Accounting firm Friedman will pay more than $1.5 million to settle charges it failed to comply with the standards of the Public Company Accounting Oversight Board while auditing two companies.
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ArticleTikTok facing $29M fine over U.K. children’s privacy violations
The Information Commissioner’s Office warned social media platform TikTok it could be fined £27 million (U.S. $29 million) for failing to protect children’s data in line with the U.K.’s version of the General Data Protection Regulation.
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ArticleFormer EY director to pay $24K for insider trading
Michael Weiss, a former Ernst & Young business development director, agreed to pay $23,900 to settle charges levied by the Securities and Exchange Commission he engaged in insider trading.
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ArticleBoeing fined $200M for material misstatements on fatal plane crashes
Boeing agreed to pay $200 million to settle charges laid by the Securities and Exchange Commission that it misled investors regarding what caused two crashes of 737 MAX airplanes in 2018 and 2019 that killed 346 people.
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ArticleRaymond James unit fined $500K for supervisory failures
A broker-dealer unit of Raymond James Financial agreed to pay $500,000 as part of a settlement with the Securities and Exchange Commission for alleged supervisory failures that included the input of a misinformed compliance officer.
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PremiumAsk a CCO: Tech most subject to regulator scrutiny over next 5 years?
Four senior compliance practitioners offer what they believe will be the technology currently on the market that will receive the most attention from regulators over the next five years.
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PremiumAsk a CCO: Accounting for regulator expectations in using new tech
Regulatory environments are ever evolving; four senior compliance practitioners detail what their respective businesses do to ensure compliance while utilizing new technologies.
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ArticleArcadia fined $90K for custody rule violations; CCO to undergo training
New York-based investment adviser Arcadia Wealth Management will pay $90,000 for violating a Securities and Exchange Commission rule by failing to obtain “surprise” examinations of advisory client assets.
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ArticleToews fined $150K over proxy voting violations
Investment adviser Toews Corp. agreed to pay $150,000 as part of a settlement with the Securities and Exchange Commission over proxy voting rule violations that prompted two commissioners to issue a dissenting statement.
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ArticleIreland interpretations of GDPR criticized again in Instagram case
In fining Instagram a record €405 million (U.S. $405 million) for General Data Protection Regulation violations regarding the safeguarding of teenage users’ data, the Irish Data Protection Commission took some heat of its own.
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ArticleWaddell & Reed to pay $775K over wrap fee compliance failures
Investment adviser Waddell & Reed will pay about $775,000 as part of a settlement with the Securities and Exchange Commission for compliance failures and breaching its fiduciary duty.