All United States articles – Page 32
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News BriefOFAC sanctions nearly 50 entities for ‘shadow banking’ benefiting Iranian military
The Treasury Department’s Office of Foreign Assets Control sanctioned nearly 50 entities connected with so-called “shadow banking” networks that help Iran’s military evade U.S. sanctions and to sell the country’s oil and petrochemical products.
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News BriefSEC orders Meta Materials to pay $1M over market manipulation, fraud
A Nevada energy and manufacturing company headquartered in Nova Scotia agreed to pay $1 million to settle charges levied by the Securities and Exchange Commission for alleged market manipulation and fraud, while the agency further investigates its former chief executives.
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News BriefSpongeBob game developer ordered to pay $500K over CCPA, COPPA violations
Popular children’s mobile game developer Tilting Point Media agreed to pay $500,000 to settle allegations the company illegally collected children’s personal data, a violation under the California Consumer Privacy Act and a federal children’s privacy law.
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News BriefDOJ orders Houston medical centers to pay $15M over concurrent billing false claims
Houston-based medical center institutions agreed to jointly pay $15 million to settle allegations for improperly billing Medicare for concurrent surgeries in violation of teaching physician and informed consent regulations.
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News BriefBanking regs find flaws in resolution plans for BoA, JPM, Goldman Sachs, Citi
Two federal banking regulators found deficiencies with the sale of derivatives in the resolution plans of Bank of America, Goldman Sachs, and JPMorgan Chase, while the regulators disagreed on the severity of an issue with Citigroup’s plan.
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News BriefClearview AI agrees to pay stake in company to settle Illinois privacy lawsuit
Facial recognition company Clearview AI reached a preliminary settlement in a class action lawsuit alleging it violated the Illinois Biometric Privacy Act, with the company agreeing to compensate victims with stake in the company.
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News BriefAverhealth to pay $1.3M in DOJ drug test false claims case
National drug testing firm Averhealth agreed to pay $1.3 million to settle allegations, first brought by a whistleblower, that it knowingly submitted false claims to the Michigan Department of Health and Human Services, the Department of Justice announced.
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News BriefDOJ orders Lockheed Martin units to pay $70M for improper subcontracting
Two subsidiaries of aerospace giant Lockheed Martin agreed to pay $70 million to settle allegations levied by the Department of Justice of overcharging the Navy for aircraft parts.
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PremiumCiti report: GenAI revolution will bring increased need for compliance
A new report on the use of artificial intelligence in financial services predicts that the technology will drive profits, disruptions, and change over the next decade.
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News BriefOFAC sanctions drug cartel over China procurement; FinCEN issues advisory
The Treasury Department’s Office of Foreign Assets Control and Secretary Janet Yellen announced sanctions Thursday against the top leaders of La Nueva Familia Michoacana drug cartel over the illicit trafficking of synthetic opioid fentanyl in the United States.
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Seaport Therapeutics appoints general counsel
Biopharmaceutical company Seaport Therapeutics announced the appointment of Lana Gladstein as general counsel.
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Cedar Fair, Six Flags announce legal, compliance chief
Cedar Fair and Six Flags Entertainment Corporation announced that Brian Nurse will serve as chief legal, compliance officer, and corporate secretary of the combined company following the completion of their previously announced merger.
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News BriefCFPB proposes $3.95M fine against Freedom Mortgage over repeated data errors
Freedom Mortgage Corp. would have to pay a $3.95 million fine and carry out regular auditing and testing of its loan data under a proposed order by the Consumer Financial Protection Bureau.
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Greentown Labs adds MassCEC general counsel to board
Greentown Labs announced the addition of John Hitt, general counsel at the Massachusetts Clean Energy Center, to its board.
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Ascent Hospitality Management announces GC
Ascent Hospitality Management announced it hired Louis DiPietro as executive vice president and general counsel and corporate secretary.
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Nutanix names chief legal officer
Hybrid multicloud computing company Nutanix announced it has named Brian Martin as chief legal officer.
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Bumble appoints chief legal officer
Bumble announced that Elizabeth Monteleone has been promoted to chief legal officer.
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News BriefOCC emphasizes compliance’s role in FI’s operational resiliency
Compliance departments at financial institutions must become more involved in ensuring their firm’s operational resiliency to address emerging risks, the Treasury Department’s Office of the Comptroller of the Currency said in its semi-annual risk perspective.
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News BriefCFTC awards whistleblower $8M despite involvement in misconduct
A whistleblower received an $8 million award from the Commodity Futures Trading Commission for uncovering fraud—even though the agency deemed the whistleblower was culpable in the misconduct.
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Redwire hires general counsel
Space infrastructure provider Redwire Corporation announced that Aaron Futch has been appointed executive vice president, general counsel, and secretary.