All United States articles – Page 113
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News Brief
Infinity Q founder sentenced to 15 years for fraud scheme
The former chief investment officer and founder of investment adviser Infinity Q Capital Management was sentenced to 15 years in prison and ordered to forfeit $22 million for artificially inflating the values of certain derivatives to defraud investors.
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News BriefFormer Celadon COO, CFO settle SEC accounting fraud charges for $50K
Two former executives of trucking company Celadon Group each agreed to pay $50,000 to settle charges levied by the Securities and Exchange Commission they engaged in accounting fraud to inflate the company’s earnings.
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News BriefSEC commissioner calls out pitfalls in regulators’ structured data efforts
SEC Commissioner Hester Peirce warned about “potential pitfalls” with structured data, which regulators and lawmakers have embraced as a way to make data accessible and easy to use.
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Blog
Mather Group names chief compliance officer
Wealth management firm The Mather Group announced the appointment of Stuart Evans as chief compliance officer.
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Blog
Cenlar FSB appoints chief compliance officer
Mortgage loan subservicer Cenlar FSB announced the appointment of Marlon Groen as chief compliance officer.
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Blog
Dextra Partners names general counsel, chief compliance officer
Private equity firm Dextra Partners announced the hiring of Lorne Smith as general counsel and chief compliance officer.
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Blog
Lowe’s appoints chief legal officer
Retailer Lowe’s Companies announced the appointment of Juliette Pryor as executive vice president, chief legal officer and corporate secretary.
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Blog
Newpark Resources promotes deputy GC to general counsel, CCO
Oil and gas company Newpark Resources announced the promotion of Deputy General Counsel and Assistant Corporate Secretary M. Celeste Frugé to general counsel and chief compliance officer.
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PremiumHow to avoid pitfalls of scaling business with generative AI
Generative AI has the potential to be as game-changing for business and society as the internet, social media, and mobile phones were. At the moment, however, the risks seem to outweigh the rewards.
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News Brief
DOJ: Former Magellan quality control director, execs misled public over lead tests
The former director of quality assurance at Magellan Diagnostics allegedly conspired with executives to conceal a critical flaw in lead tests they knew would result in tens of thousands of false negative tests among lead-exposed children.
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News BriefGoldman Sachs settles CFTC charges over same-day swaps manipulation for $15M
Goldman Sachs will pay a $15 million fine to settle charges from the Commodity Futures Trading Commission it manipulated the execution of same-day swaps to the detriment of unsophisticated clients and for failing to accurately disclose the actual cost of those swaps.
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PremiumAs final CPRA rules trickle out, a reminder companies must ‘grow with the law’
If companies haven’t started the process of coming into compliance with the California’s sweeping new privacy law, they need to begin now.
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News BriefOCC ‘reluctantly’ drops enforcement, fine against former Rabobank CCO
The Office of the Comptroller of the Currency dismissed an enforcement action and withdrew a fine against the former chief compliance officer for the now-defunct U.S. branch of Rabobank N.A.
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Blog
TradePMR appoints chief risk officer
Technology and custodial services company TradePMR announced the appointment of Charles Reiling as chief risk officer.
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News BriefTreasury: DeFi services vulnerable to AML/CFT, cybersecurity risks
A new U.S. Treasury report concluded that decentralized finance services are being used by bad actors to launder the proceeds of illegal activity, aided by crypto platforms weak or non-existent in anti-money laundering and sanctions compliance programs.
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PremiumNeed to know: FASB proposal on accounting for crypto assets
The Financial Accounting Standards Board issued a proposed accounting standards update to improve accounting and disclosures for certain crypto assets.
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News BriefMicrosoft to pay $3.3M to settle sanctions, export control violations
Microsoft will pay more than $3.3 million to settle charges from the Office of Foreign Assets Control and Bureau of Industry and Security its subsidiaries violated sanctions laws and export controls across their dealings in four sanctioned countries and Ukraine’s Crimea region.
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News BriefGenotox Laboratories to pay $5.9M in DOJ kickback settlement
Genotox Laboratories agreed to pay at least $5.9 million to settle charges it violated the False Claims Act by paying volume-based commissions to third-party marketers and submitting claims to federal healthcare programs for unnecessary drug tests.
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OpinionAlleged fraudster cited privacy in duping JPMorgan into $175M merger
Charlie Javice and her startup Frank allegedly convinced the country’s largest bank to pay $175 million for what largely amounted to a list of fake college students. The apparent due diligence failures by JPMorgan Chase offer a cautionary tale to compliance professionals.
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News BriefGoldman Sachs fined $3M by FINRA over mismarked short sales
Goldman Sachs was fined $3 million by the Financial Industry Regulatory Authority for mismarking nearly 60 million short sell orders as long and related supervision failures.