- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jeff Dale2024-02-05T22:15:00
Westpac Banking Corp. was assessed a maximum fine of 1.8 million Australian dollars (U.S. $1.2 million) to address charges levied by the Australian Securities and Investments Commission (ASIC) of insider trading related to an interest rate swap transaction.
Westpac must also pay AUS$8 million (U.S. $5.2 million) to cover litigation and investigation costs, ASIC announced in a press release Jan. 31. Australia’s Federal Court sided with the regulator in the case.
ASIC noted because of the alleged misconduct occurring in October 2016, the maximum penalty was significantly lower. The current penalty for similar misconduct is about AUS$15.7 million (U.S. $10.2 million) minimum for corporations and AUS$782.5 million (U.S. $507.3 million) maximum for large entities.
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The Securities and Exchange Commission fined Charter Communications $25 million for violating internal accounting control requirements related to stock buybacks.
The Department of Justice and Securities and Exchange Commission announced charges against a dozen individuals across four separate insider trading cases, including an alleged scheme involving the chief compliance officer of an international payment processing company.
Westpac is bracing for a record AUD$1.3 billion (U.S. $912.6 million) civil penalty issued by Australia’s financial crime regulator related to a money-laundering scandal and the facilitation of child exploitation in the Philippines and Southeast Asia.
RTX Corp., the parent company of Raytheon, disclosed in a public filing it has reserved $1.24 billion to resolve legacy legal matters with the Department of Justice, Securities and Exchange Commission, and Department of State.
The U.K. Financial Conduct Authority issued a fine of $4.5 million (3.5 million pounds) against a U.K.-based subsidiary of crypto platform Coinbase for providing services to high-risk customers in violation of FCA rules.
Admera Health agreed to pay more than $5.5 million to resolve allegations first brought by two whistleblowers that it paid kickbacks to third-party contractors, the Department of Justice said.
