A California day trader and founder of a hedge fund faces up to five years in prison after pleading guilty to manipulating stock prices through buy and sell “spoofing” schemes.
DOJ
Posted inPharmaceuticals
Former biopharm director heads to prison for insider trading ahead of Novartis purchase
A former director of biopharmaceutical company, Chinook Therapeutics, has been sentenced to prison for insider trading related to the company’s $3.2 billion sale to Novartis in 2023, a fraud detected through data analysis by the SEC.
Posted inSurveys & Benchmarking
ITM survey: Some organizations pull DEI programs—and some keep them—under feds’ DEI reversal, compliance officers report
Nearly four in 10 compliance teams have made it a priority to review risks related to their traditional DEI efforts and other programs in the face of the Trump administration’s unprecedented broadsides against the programs.
Posted inFinancial Services
Former California fintech board member sentenced for $248M fraud scheme that led to bankruptcy
A former board member of a California financial technology company that marketed itself as being environmentally driven was sentenced to prison for 14 years for defrauding lenders and investors of more than $248 million, according to the DOJ.
Posted inTop Stories
DOJ decision calls EEOC employment guidelines unconstitutional
Key guidelines under which the Equal Employment Opportunity Commission has operated for decades are unconstitutional, the U.S. Department of Justice Office of Legal Counsel has concluded.
Posted inBest Practices
The Tower of Babel and compliance role in AI governance
Recently,Pope Leo XIV issued his first Papal Encyclical Letter, titled Magnifica Humanitas “On Safeguarding the Human Person in the Time of Artificial Intelligence.” The document places AI within the long tradition of Catholic social teaching and asks how humanity should respond to the “new things” of the digital age. I wanted to review it from a compliance angle.
Posted inOpinion
Compliance Under the Microscope: Why proactive programs are now essential
In today’s increasingly complex regulatory environment, organizations across many industries face escalating scrutiny from government enforcement agencies.
Posted inRegulatory Policy
CW National: New DOJ policy based on partnership with corporate compliance, Duva says
Compliance officers, listen up: when trouble of a potential criminal nature hits your company, give the U.S. Department of Justice a call, which wants to be your partner in fighting corporate crime.
Posted inRegulatory Policy
EU moves step closer to harmonizing anti-corruption laws
The European Union has moved a step closer in its plans to introduce new rules meant to harmonize how member states tackle corruption, as well as how EU institutions and agencies such as Europol, Eurojust, and the European Anti-Fraud Office work together to protect the bloc’s budget and combat corporate crime.
Posted inRegulatory Policy
New DOJ fraud division means broad realignment of resources and attorneys
A new U.S. Department of Justice division will lead investigations of government fraud, and take over duties—and staff, and funds– currently handled by other DOJ divisions and government agencies, Acting Attorney General Todd Blanche announced.
