- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Neil Hodge2022-07-28T19:35:00
Three former executives at collapsed construction firm Carillion each face six-figure fines for market abuse for “recklessly” making misleadingly positive and inaccurate statements about the company’s financial health despite knowing it was in trouble.
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The United Kingdom introduced for debate corporate reporting reforms that would require the country’s largest companies to set out their risk management and resilience strategies as part of required annual reporting.
KPMG was fined £14.4 million (U.S. $17.4 million) and severely reprimanded for providing false and misleading information relating to its audits of construction company Carillion and software business Regenersis.
The U.K. government’s confirmed plans to shake up the audit market and improve corporate governance for the country’s biggest companies has received mixed response, with some key stakeholders lamenting “missed” opportunities.
A lack of supervision and internal controls at Morgan Stanley Smith Barney allowed four of its investment advisers to steal millions from customers before the behavior was detected, the SEC said in charging the firm.
A subsidiary of McKinsey & Co. will pay nearly $123 million to the Department of Justice to settle allegations that it bribed officials in South Africa to win consulting contracts.
A defamation lawsuit filed by a whistleblower against USAA, which a Florida judge recently dismissed on a technicality, revealed in public court records an estimated 400,000 violations of the Military Lending Act by USAA Federal Savings Bank (USAA Bank), an indirect wholly owned subsidiary of USAA.
