Cryptocurrency operator Circle Internet Financial Ltd. said it has set aside more than $10 million to settle a case brought by the U.S. Securities and Exchange Commission against Poloniex LLC, its discontinued crypto exchange business, according to a regulatory filing. Boston-based Circle, which announced earlier this month that it will Read More
In just over two weeks as chair of the Federal Trade Commission, Lina Khan already appears to be making significant changes at the agency. As one of her first acts, Khan called for a FTC meeting on July 1 to consider and vote on several important changes to agency rules Read More
Look over any list of big-company chief compliance officers, and you will see several that also have the title of chief audit executive, head of risk management, and other roles. With so much responsibility already residing with those who oversee compliance, it’s a wonder they have time for anything else. Read More
The Securities and Exchange Commission announced charges against the acquisition corporation Stable Road Acquisition Company, its sponsor SRC-NI, and the SPAC’s proposed merger target Momentus Inc. for what it calls “misleading claims” about Momentus’s technology, as well as national security risks associated with Momentus’s founder and former CEO Mikhail Kokorich. Read More
A federal judge has granted permission to fintech startup Ripple Labs to question a former Securities and Exchange Commission official about the agency’s policy decisions as the company fights accusations of misleading investors about its cryptocurrency. The decision gives Ripple the ability to depose the former director of the SEC’s Read More
The European Union has launched a new law enforcement agency to investigate crimes such as corruption and tax fraud. Its first order of business will be to look for fraud in how the billions of dollars in EU COVID-19 relief funds are being spent. Launched in the wake of the Read More
The Food and Drug Administration has released a notice of changes to its regulatory oversight activities for imported foods, focusing on streamlining regulatory requirements in countries that are deemed as having comparable food safety practices to the FDA. The changes specifically concern the oversight of food products produced in or Read More
Neiman Marcus has appointed Hannah Kim as new chief compliance officer and chief legal officer, effective July 26. Kim will oversee legal and compliance for the chain of luxury department stores and will work to “promote and protect the company’s overall business strategy,” the company said in an announcement. Kim Read More
Tone at the top is about humanity and not about words like compliance and regulation. It is about doing the right thing and we all know what that is in our hearts. It is about treating people with dignity and respect.
Akron General Health System, a regional hospital system based in Akron, Ohio, will pay $21 million to resolve allegations under the False Claims Act of improper relationships with certain referring physicians, resulting in the submission of false claims to the Medicare program. The settlement resolves charges that between August 2010 Read More
