Investigations


tesla

Tesla: One SEC investigation ends; another begins

2020-02-14T18:18:00+00:00By

Electric car maker Tesla announced in a regulatory filing that the Securities and Exchange Commission has closed a previously announced investigation while also launching another, this time into Tesla’s financing arrangements.

Airbus

Airbus contractors feeling ripple effect from record fine

2020-02-12T20:34:00+00:00By

Airbus is free to go about its business after paying a record fine to three anti-corruption agencies for widespread bribery, but the trouble is only beginning for some of its implicated contractors.

Google ads

Report: DOJ zeroes in on Google’s ad brokerage business

2020-02-05T21:45:00+00:00By

The DOJ’s scrutiny of Google’s online ad business reflects growing concerns over the tech giant’s potentially anticompetitive behavior, prompts the reclusion of an antitrust enforcement official from the probe, and points to closer coordination between federal and state authorities.

AirAsia

AirAsia on defense after Airbus-related bribery allegations

2020-02-03T21:27:00+00:00By

AirAsia is doing damage control after executives at the budget airline were referenced as recipients of a $50 million bribe from plane maker Airbus in the latter’s $4 billion global bribery settlement.

Boeing

Boeing discloses SEC probe; toxic culture raises flags

2020-02-03T17:11:00+00:00By

Embattled aerospace giant Boeing is being investigated by the Securities and Exchange Commission, in addition to already facing scrutiny from the Department of Justice, following two plane crashes that happened less than five months apart.

Airbus

Airbus announces resolution of global corruption case

2020-01-28T18:38:00+00:00By

Airbus confirmed it has reached a deal with authorities in the United States, the United Kingdom, and France to resolve long-running allegations of bribery and corruption. The settlement could reportedly be worth billions.

AdobeStock_184499524

‘Science of Workplace Investigations’ preview: Tips on getting at the truth

2020-01-15T16:38:00+00:00By Compliance Week

Compliance Week sat down with Clear Law Institute CEO Michael Johnson to discuss what attendees of his “Science of Workplace Investigations” online workshop can expect to learn, including how to best spot a lie.

OCIE priorities

‘Perennial’ risks comprise OCIE’s 2020 examination priorities

2020-01-08T17:07:00+00:00By

The SEC’s Office of Compliance Inspections and Examinations’ priorities in 2020 foster its risk-based approach and find room for both Main Street investors and innovation.

BadApple

Landec discloses FCPA probe

2020-01-07T14:47:00+00:00By

Landec, an innovator of health and wellness solutions, has discovered and reported to U.S. regulators a “compliance issue” at its Yucatan Foods production facility in Guanajuato, Mexico. It now faces a government probe into possible FCPA violations

Investigate

SFO latest to investigate Glencore over bribery concerns

2019-12-09T18:53:00+00:00By

Glencore announced it is under investigation by the U.K. Serious Fraud Office over suspicions of bribery, making it the third investigation the multinational commodity trading and mining company is now facing.

Tesla

NHTSA probing Tesla for defects that cause battery fires

2019-11-18T16:39:00+00:00By

The National Highway Traffic Safety Administration has launched an investigation into electric-car company Tesla over potential battery defects that allegedly cause its vehicles to suddenly burst into flames.

Oil

SEC investigating ProPetro’s financial disclosures

2019-11-14T19:25:00+00:00By

Oilfield services company ProPetro Holding announced the SEC has opened an investigation into its financial disclosures and reporting.

Gold

EY accused in U.K. gold-laundering scheme

2019-10-29T17:41:00+00:00By

Big Four audit firm EY has been accused of covering up evidence of smuggling by an organized crime gang that was laundering British drug money through gold dealings, according to an investigation by the BBC.

Facebookcrop

Facebook antitrust probe expands to 47 AGs

2019-10-22T17:06:00+01:00By

An antitrust investigation into Facebook led by the New York Attorney General’s office widened with the announcement that 47 attorneys general are now taking part.

SFO building

SFO closes long-running LIBOR manipulation investigation

2019-10-18T18:14:00+01:00By

The U.K. Serious Fraud Office has closed its investigation into manipulation of the London Interbank Offered Rate (LIBOR), ending a probe that began more than seven years ago.

CourtRulingBustsBalloon

Labeling employee a ‘compliance risk’ not defamation, says court

2019-10-16T19:51:00+01:00By

A former Biomet Argentina employee—in a bit of FCPA hot water—landed on his company’s restricted persons list, sued for defamation, and lost.

Kroner

Ericsson reserves $1.2B in FCPA case; speaks candidly on compliance program

2019-09-27T14:07:00+01:00By

Ericsson announced it has set aside $1.2 billion to resolve a long-running FCPA investigation that spans several geographies. CEO Börje Ekholm spoke candidly about the shortcomings of the company’s ethics and compliance program and how it’s addressing them.

Analytics

If feds find fraud using analytics, corporations better have found it first

2019-09-16T17:56:00+01:00By

Deputy Assistant Attorney General Matthew Miner put corporate compliance officers on notice with remarks about the feds’ increasing use of data analytics.

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SEC closes FCPA probe into Ciena

2019-09-16T15:37:00+01:00By

Ciena says the SEC advised the company it does not intend to recommend an enforcement action in connection with a previously disclosed investigation into potential violations of the FCPA.

Google

Google facing antitrust investigation by 50 attorneys general

2019-09-09T20:15:00+01:00By

Texas Attorney General Ken Paxton confirmed Monday that his office is leading an investigation by 50 attorneys general into technology giant Google for potential monopolistic business practices.

Facebook

Facebook faces multistate investigation for possible antitrust violations

2019-09-06T15:34:00+01:00By

The New York Attorney General’s office is leading a multistate investigation into social media giant Facebook for potential antitrust issues.

Money laundering

New FinCEN unit to focus on money laundering threats

2019-08-29T15:05:00+01:00By

FinCEN announced the launch of its newly created Global Investigations Division, with responsibility for targeting terrorist financing and money laundering threats, both domestically and internationally.

Mylan nears $30M settlement with SEC in EpiPen investigation

2019-07-31T16:35:00+01:00By

Mylan disclosed in a regulatory filing that it has reached a $30 million agreement-in-principle to resolve the SEC’s investigation alleging securities violations for disclosures surrounding EpiPens.

Barr

DOJ launches antitrust probe into Big Tech

2019-07-24T15:10:00+01:00By

The U.S. Department of Justice has opened an antitrust probe into Big Tech firms that are ”engaging in practices that have reduced competition, stifled innovation, or otherwise harmed consumers.”

Walmart

Five compliance lessons from Walmart’s FCPA settlement

2019-07-22T13:29:00+01:00By

Walmart’s FCPA settlement serves as a cautionary tale for chief compliance officers everywhere of what not to do, but also on how to successfully redress underlying problems.

Amazon

EU investigating Amazon over antitrust concerns

2019-07-17T16:34:00+01:00By

The European Commission is investigating Amazon over concerns that the company’s use of data gathered from independent retailers that sell on its marketplace breaches EU competition rules.

Whistleblower

CFTC issues joint $2M whistleblower award

2019-07-02T14:12:00+01:00By

The Commodity Futures Trading Commission announced on July 1 an award of $2 million to two “model whistleblowers” who provided the agency with “significant information” that prompted the CFTC to open an investigation.

Surgical devices

SEC closes FCPA probe into Misonix

2019-06-24T17:59:00+01:00By

The SEC has closed its FCPA investigation into medical device company Misonix and will not be recommending an enforcement action, the company announced.

Walmart

Walmart agrees to $282.7M FCPA resolution

2019-06-20T19:29:00+01:00By

Walmart has agreed to pay a combined total of $282.7 million to resolve a more than seven-year investigation resulting from violations of the Foreign Corrupt Practices Act.

KPMG

More cheating charges at KPMG: SEC fines firm $50M

2019-06-17T17:53:00+01:00By

The SEC has fined KPMG for not only allegations of cheating on regulatory inspections, but also new charges of numerous auditors cheating on training exams.

RBS

FCA publishes final report on RBS

2019-06-13T14:46:00+01:00By

The Financial Conduct Authority has concluded its investigation into the Royal Bank of Scotland and published a final report of its findings.

Opioids

Insys files for bankruptcy after $225M settlement

2019-06-10T18:42:00+01:00By

Opioid maker Insys Therapeutics has filed for bankruptcy after agreeing to a $225 million global resolution to settle investigations concerning deceptive marketing and distribution of the drug Subsys.

CaseClosedStamp

OSI Systems: FCPA probes have been closed

2019-06-10T14:57:00+01:00By

DOJ and SEC investigations into market security company OSI Systems have officially been terminated. No further information was provided.

Meet24

FTC cracks down on Ukrainian dating apps

2019-05-07T19:22:00+01:00By

The FTC has removed dating apps from Apple’s App Store and Google’s Google Play Store following allegations they allowed children as young as 12 to access them.

King-stephen

Stephen C. King: The intrepid investigator

2019-05-07T12:54:00+01:00By

In an effective, disarming style, this Top Mind is using investigations to guide compliance, not just club noncompliance.

Glencorecrop

Glencore announces CFTC probe

2019-04-26T19:59:00+01:00By

The U.S. Commodity Futures Trading Commission is investigating whether multinational commodity trading and mining company Glencore and its subsidiaries might have violated certain provisions of the Commodity Exchange Act and/or CFTC regulations.

FinanceProbe

CFPB to provide more information to firms under investigation

2019-04-24T20:00:00+01:00By

The Consumer Financial Protection Bureau says it will provide financial services firms under investigation more detail on what violations prompted the agency’s scrutiny.

Hardie

Rod Hardie on FCPA lessons, navigating foreign risk

2019-04-22T15:09:00+01:00By

Rod Hardie, chief compliance officer at Exterran, discusses with columnist Tom Fox what he learned and experienced as an investigator with Baker Hughes during its FCPA investigation in the early 2000s.

Winterkorn

Former VW boss charged over emissions scandal in Germany

2019-04-16T20:55:00+01:00By

German prosecutors have filed aggravated fraud charges against Martin Winterkorn, the former chief executive of Volkswagen, and four other unnamed managers for their involvement in the emissions-cheating scandal.

RUSIcrop

SFO Director Lisa Osofsky on fighting corruption

2019-04-08T20:29:00+01:00By

In remarks made on 3 April at the Royal United Services Institute in London, Serious Fraud Office Director Lisa Osofsky discussed the agency’s recent efforts and what she has learned on the job so far.

Contracts

EDPS investigating contractual arrangements concerning software used by EU firms

2019-04-08T20:26:00+01:00By

The European Data Protection Supervisor, which is responsible for enforcing and monitoring EU companies’ compliance with data protection rules, said it is has launched an investigation into the compliance of contractual arrangements between EU institutions and Microsoft.

Nissan

Special committee report details governance reforms needed at Nissan

2019-04-03T21:22:00+01:00By

Last year, Japanese automaker Nissan formed a “Special Committee for Improving Governance” after its chairman Carlos Ghosn was arrested for engaging in financial misconduct. On March 27, the special committee published its findings, holding nothing back.

CorruptGlobeFeature

Fresenius Medical Care to pay $231M to resolve FCPA case

2019-04-01T18:22:00+01:00By

German healthcare company Fresenius Medical Care reached a $231 million settlement with U.S. authorities for violations of the Foreign Corrupt Practices Act for participating in various corrupt schemes across multiple countries that went undetected for more than a decade.

Facebookcrop

HUD charges Facebook with facilitating housing discrimination

2019-03-29T17:13:00+00:00By

The Department of Housing and Urban Development is charging Facebook with violating the Fair Housing Act by “encouraging, enabling, and causing housing discrimination through the company’s advertising platform.”

Swedbankcrop

What Swedbank is saying about its multiple investigations

2019-03-29T17:07:00+00:00By

It has been a tumultuous few weeks for Swedbank as it fends off several investigations, including for money laundering and insider trading, resulting in the dismissal of its chief executive officer.

FTC Building

FTC clarifies expectations for post-settlement compliance reports

2019-03-21T16:39:00+00:00By

The Federal Trade Commission, increasingly faced with incomplete information and blown deadlines, is laying down the law when it comes to post-settlement compliance reports.