- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Jeff Dale2024-04-08T17:05:00
A Volkswagen finance unit was ordered to pay $48.75 million as part of a final judgment obtained by the Securities and Exchange Commission (SEC) to resolve historical violations related to the automaker’s emissions scandal.
Volkswagen Group of America Finance (VWGOAF) must pay $34.35 million in disgorgement and $14.4 million in prejudgment interest, the SEC announced in a litigation release published Friday.
In 2015, VW confessed to cheating U.S. emissions requirements by installing defeat devices in its vehicles. In March 2019, the SEC charged VWGOAF with making false and misleading statements related to its 2014-15 offerings of corporate bonds, including to investors and underwriters about vehicle quality, environmental compliance, and financial standing.
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2021-12-09T22:31:00Z By Aaron Nicodemus
Hiltrud Werner, board member responsible for integrity and legal affairs at Volkswagen and a key figure in the Dieselgate monitorship, will leave the German automaker on Feb. 1, 2022, as part of a series of managerial changes.
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Volkswagen CCO Kurt Michels shared how the company has intensified business partner due diligence in the wake of completing its three-year U.S. monitorship during a fireside chat at CW’s virtual Europe event.
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The Volkswagen Dieselgate scandal wasn’t the work of one executive who thought to install illicit software into diesel motor vehicles. It was born from a “chain of errors that was never broken,” forming the basis for one of the largest and most high-profile corporate compliance monitorships in history.
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The Federal Trade Commission (FTC) filed a lawsuit against Uber, alleging the ride-hailing company signed customers up for its Uber One subscription without consent, then made it hard for them to cancel. The move marks the U.S. government’s latest broadside against big tech companies, and the first major action from ...
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The U.S. Consumer Financial Protection Bureau continues to unravel amid pressure from Trump administration officials to shutter the agency. Not only has the agency informed its employees that it will no longer be a watchdog for the financial services industry, it has also laid off employees despite court orders blocking ...
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The Consumer Financial Protection Bureau dropped yet another consumer protection lawsuit against a bank or fintech provider since Donald Trump was sworn in as president in January. This time, it was with Comerica Bank.
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