By
Oscar Gonzalez2025-01-24T19:55:00
The U.S. Consumer Product Safety Commission (CPSC) ordered Google-owned Fitbit to pay more than $12 million and comply with certain undertakings to settle allegations the company knowingly failed to report a serious burning hazard with its Ionic smartwatches.
In a press release Thursday, the CPSC said reports of overheating watch batteries began as early as 2018, but Fitbit failed to notify the agency of the defect as required by the Consumer Product Safety Act (CPSA).
Fitbit must also “maintain internal controls and procedures designed to ensure compliance” with the CPSA, the agency said. This would include enhancing the company’s compliance program and submitting an annual report on the program, internal controls, and an internal audit on the effectiveness of its compliance policies, procedures, systems, and training.
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A delayed product hazard report cost one company criminal and civil penalties—and a mother her life. This case shows why timely reporting and executive accountability are non-negotiable for compliance teams.
2025-05-23T16:19:00Z By Oscar Gonzalez
Three former commissioners of the Consumer Product Safety Commission who were fired by President Donald Trump earlier this month have filed a lawsuit against the government over their dismissal. The move joins many more court battles over Trump’s sudden slashing of government agencies, which some courts have deemed illegal, blocking ...
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In a world where it seems like it’s Donald Trump against the rest of the world, antitrust lawsuits against tech titans may be the only area where regulators around the world agree: it’s time to break up Big Tech.
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The former U.S. chief compliance officer of hedge fund firm Capula Investment Management has blown the whistle against his former employer, alleging he was terminated for raising concerns about improper expensing practices.
2025-11-07T22:18:00Z By Adrianne Appel
First Trust Portfolios has been fined $10 million by FINRA for allegedly providing excessive meals, gifts, and other incentives to broker-dealers.
2025-11-06T19:01:00Z By Adrianne Appel
Four U.S. citizens were arrested in California Wednesday in connection with a massive, $346 million international credit card fraud scheme based in Germany, in which compliance officers were allegedly complicit, according to the DOJ.
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