- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jeff Dale2024-05-15T17:43:00
The Department of Justice (DOJ) notified aerospace giant Boeing it breached its 2021 deferred prosecution agreement (DPA) that required compliance commitments following high-profile crashes of its 737 MAX airplane.
In a letter Tuesday, the DOJ notified Boeing the government determined the company breached its obligations under the DPA by “failing to design, implement, and enforce a compliance and ethics program to prevent and detect violations of U.S. fraud laws throughout its operations.”
The letter, addressed to U.S. District Court Judge Reed O’Connor for the Northern District of Texas, updated the court on the status of the DPA, which Boeing agreed to in January 2021 as part of a $2.5 billion settlement over criminal charges related to the 737 MAX scandal.
THIS IS MEMBERS-ONLY CONTENT. To continue reading, choose one of the options below.
News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
Annual Membership $499 Value offer
Full price one year membership with auto-renewal.
Membership $599
One-year only, no auto-renewal.
Boeing will plead guilty to a felony and pay an additional $243.6 million for violating the terms of a 2021 settlement it made with the Department of Justice related to safety lapses that contributed to the crash of two airplanes.
Aerospace giant Boeing will pay a $51 million civil penalty to the State Department to resolve alleged export control violations related to unauthorized transfers and retransfers of technical data to foreign-person employees and contractors.
A federal judge in Texas ruled against a request by the families of those killed in two Boeing 737 MAX crashes to alter the terms of a 2021 deferred prosecution agreement between the company and the Department of Justice to add an independent compliance monitor.
Capital One promised very high interest rates on millions of savings accounts but the bank didn’t deliver, losing customers more than $2 billion, the Consumer Financial Protection Bureau alleged.
Robinhood, a disruptive force in the market for Main Street investors but also a serial offender of securities laws, will pay a total of $45 million to settle numerous violations of SEC rules and regulations by two of its broker-dealers.
A broker-dealer subsidiary of Toronto-based BMO Financial Group will pay nearly $41 million in penalties to the Securities and Exchange Commission to settle allegations that its traders issued misleading disclosures on bonds for three years, causing $19 million in harm to its customers.
