- 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.
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.
2021-11-12T16:56:00Z By Aly McDevitt
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.
2021-05-17T13:00:00Z By Aly McDevitt
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.
2025-07-02T18:31:00Z By Aaron Nicodemus
Emerging enforcement priorities of the U.S. Department of Justice’s health care fraud division align with the Trump administration’s emphasis on prosecuting transnational criminal organizations and ending opioid trafficking.
2025-07-01T23:26:00Z By Oscar Gonzalez
Since President Donald Trump took office, the U.S. Federal Trade Commission has yet to keep up the level of enforcement it had under previous chair Lina Khan. The agency, however, returned to antitrust action in the case of fuel stations, just in time for the July 4th holiday.
2025-06-25T16:29:00Z By Oscar Gonzalez
In May, three commissioners for the Consumer Product Safety Commission were abruptly fired by President Donald Trump and sued for their jobs shortly after. A federal judge has ruled that the commissioners should be reinstated, although it’s unclear whether that ruling may itself be reversed.
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