All United States articles – Page 155
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ArticleCFPB sues ‘repeat offender’ TransUnion over consent order violations
The Consumer Financial Protection Bureau filed a lawsuit in federal court charging TransUnion, two of its subsidiaries, and one of its longtime executives with violating a 2017 consent order and other consumer financial protection laws.
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ArticleICA Insight: Russia sanctions frequently asked questions
Jake Plenderleith of the International Compliance Association answers selected questions from attendees of a recent ICA webinar on Russian sanctions intended to help provide clarity on what firms can do to protect themselves from exposure.
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ArticleFormer tech exec to pay $97K for impeding SEC whistleblower
David Hansen, co-founder of Las Vegas-based software company NS8, agreed to pay $97,523 to settle charges from the Securities and Exchange Commission that he impeded a whistleblower’s attempt to communicate with the agency about a securities law violation.
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ArticlePG&E avoids criminal charges in $55M settlement over 2 wildfires
Pacific Gas & Electric avoided criminal charges in agreeing to pay more than $55 million in civil contributions and penalties as part of a settlement in California regarding the utility company’s alleged role in the 2019 Kincade Fire and 2021 Dixie Fire.
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ArticleEx-Goldman banker convicted of FCPA violations in 1MDB case
Roger Ng, one of the central figures of the Goldman Sachs 1MDB scandal, was found guilty by a federal jury of conspiring to violate the Foreign Corrupt Practices Act and commit money laundering.
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ArticleAA study: Cybersecurity breach disclosures surge in 2021
The number of cybersecurity breaches disclosed by public companies in 2021 increased 44 percent while reports of ransomware attacks also surged, according to the latest Audit Analytics study.
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ArticleFed bans ex-Goldman managing director over supervisory info misuse
The Federal Reserve Board permanently barred from the banking industry former Goldman Sachs Managing Director Joseph Jiampietro after he allegedly misused confidential supervisory information to further his regulatory advisory practice.
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ArticleCash App breached by former employee; 8.2M affected
Approximately 8.2 million U.S. customers of Cash App Investing have been notified of a data breach carried out by a former employee of the mobile payment service provider.
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ArticleBiden to nominate two for SEC commissioner openings
President Joe Biden announced his intention to nominate Jaime Lizárraga and Mark Uyeda for the Democratic and Republican commissioner openings, respectively, at the Securities and Exchange Commission.
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SEC proposes Dodd-Frank rule requiring security-based swaps to hire CCOs
The Securities and Exchange Commission proposed a regulatory framework for security-based swap execution facilities that will require these entities to hire a chief compliance officer to oversee compliance with new rules.
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ArticleAntitrust Division’s revised leniency policy stresses prompt reporting
The prompt self-reporting of any involvement in an antitrust cartel will be a key consideration going forward in receiving leniency from the Department of Justice.
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ArticleTreasury expands sanctions against large Russian banks
The Department of the Treasury announced strengthened sanctions against two of Russia’s largest financial institutions, Sberbank and Alfa-Bank, that were already subject to U.S. restrictions.
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ArticleCalifornia judge strikes down state’s board diversity law
A California state superior court judge struck down a diversity mandate that ordered public companies in the state to have at least one minority board member by the end of 2021.
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ArticleEx-KPMG audit head fined record $100K by PCAOB over cheating scandal
Scott Marcello, the former vice chair of audit at KPMG during the Big Four firm’s infamous cheating scandal, was fined a record $100,000 by the Public Company Accounting Oversight Board for his supervision failures.
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Ex-Poseidon exec gets 3-year sentence in securities fraud case
Joseph Kostelecky, former executive VP of U.S. operations at Poseidon Concepts, was sentenced to three years in prison and ordered to pay approximately $406.2 million in restitution for perpetrating a scheme to fraudulently inflate the company’s reported revenue.
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ArticleS&P Global fined $79K over alleged 2016-17 dealings with sanctioned Rosneft
Financial analytics provider S&P Global agreed to pay $78,750 as part of a settlement with the Office of Foreign Assets Control regarding alleged dealings with sanctioned Russian state-owned oil company Rosneft in 2016 and 2017.
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ArticleDOJ declines FCPA prosecution of insurance broker JLT
The Department of Justice informed Jardine Lloyd Thompson Group Holdings it would not face prosecution under the Foreign Corrupt Practices Act despite alleged evidence of nearly $3.2 million the company paid in bribes to Ecuadorian government officials.
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ArticlePCAOB urges auditors assess widespread implications of Ukraine crisis
Auditors must emphasize continuous monitoring and reassessment of relevant implications in navigating the economic climate following Russia’s invasion of Ukraine, according to guidance from the Public Company Accounting Oversight Board.
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ArticleFinCEN fines A&S World Trading $275K in first GTO action
The Financial Crimes Enforcement Network fined A&S World Trading $275,000 for willful violations of the Bank Secrecy Act in its first enforcement action against a company for failing to comply with a geographic targeting order.
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ArticleNew bill seeks shorter wait for SEC whistleblower awards
The “SEC Whistleblower Reform Act of 2022” proposes to shorten the wait time for a whistleblower to receive a payout by requiring the Securities and Exchange Commission to issue an initial ruling on a claim within one year of the deadline to file the claim.