- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Adrianne Appel2024-07-23T14:07:00
The Federal Communications Commission (FCC) is preparing to take enforcement action against AT&T for a data outage in February that blocked 92 million phone calls.
The FCC’s Public Safety and Homeland Security Bureau referred the matter, which occurred Feb. 22 and prevented 25,000 911 calls from being completed, to the agency’s Enforcement Bureau, the FCC said.
The outage impacted users in every state, plus Washington, D.C., Puerto Rico, and the U.S. Virgin Islands, the FCC said in a report, published Monday.
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AT&T said personal account data on approximately 73 million current and former customers was released on the dark web two weeks ago but has not yet identified when and where the breach occurred.
AT&T agreed to pay $6.25 million as part of a settlement with the Securities and Exchange Commission addressing allegations three of its executives fed sensitive financial information to Wall Street research analysts and not investors.
An Illinois-based subsidiary of AT&T will pay $23 million and revamp its ethics and compliance program following a criminal investigation into bribes the company paid attempting to influence the Illinois state legislature.
Elon Musk, the world’s wealthiest person and the apparent right-hand man of incoming U.S. president Donald Trump, has been taken to court for a third time by the Securities and Exchange Commission for allegedly violating securities law.
Twelve more firms have been dinged with fines by the Securities and Exchange Commission for failing to properly supervise employees who used off-channel communications to conduct company business. In this latest round of enforcement actions, nine investment advisers and three broker-dealers will pay a total of $63 million.
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.
