- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jeff Dale2022-06-06T18:24:00
The U.S. arm of Fiat Chrysler Automobiles pleaded guilty to conspiracy to defraud the United States, wire fraud, and violating the Clean Air Act for “making false and misleading representations” regarding emissions control systems on more than 100,000 vehicles.
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Fiat Chrysler Automobiles has agreed to pay $9.5 million to settle allegations from the SEC that it made “misleading disclosures” regarding an internal audit of emission control systems for diesel vehicles it sold in the United States.
Compliance officers and corporate defense teams in the automaker industry should review carefully the consent decrees of Fiat Chrysler and Volkswagen for key insight into the sort of compliance obligations the government will expect moving forward as emissions-cheating investigations continue to unfold.
Fiat Chrysler will pay a civil penalty of $305 million to settle claims of cheating emission tests and failing to disclose unlawful defeat devices, the Department of Justice announced on Jan. 10.
Financial services firm Cantor Fitzgerald will pay a $6.75 million fine to the Securities and Exchange Commission for making misleading statements regarding two special purpose acquisition companies that it controlled.
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.
