- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Adrianne Appel2024-07-30T12:52:00
Global shipping giant Maersk Line Limited (MLL) agreed to pay more than $700,000 and reinstate a seaman who was terminated after he alerted a federal regulatory agency about alleged safety violations, the U.S. Department of Labor’s Occupational Safety and Health Administration (DOL-OSHA) said.
The DOL ordered MLL to pay nearly $458,000 in back wages, interest, and compensatory damages, along with $250,000 in punitive damages, the agency said in a press release July 19.
The company must revise its whistleblower policy to make clear that employees can bring concerns directly to federal agencies, according to a July 15 settlement agreement.
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Dominic Buckwell, general counsel and compliance head at global marine container leasing company Seaco, discussed key themes including anti-money laundering, sanctions, and why the industry needs common environmental reporting standards.
Five agencies of the U.S. government combined to issue best practices guidance for entities in the maritime and other transportation industries to help reduce risk of sanctions and export control violations and evasion efforts.
A month has gone by since a 1,300-foot cargo ship ran aground and blocked one of the busiest waterways in the world. For many industries, the ripple effects will continue to batter global supply chains for weeks to come, absent having in place a sound supply chain risk management program.
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.
