The Securities and Exchange Commission and Commodity Futures Trading Commission (CFTC) have fined a group of Wall Street banks more than $1.8 billion in combined penalties for recordkeeping failures related to the unapproved use of electronic communications, the regulators announced. In the SEC case, charges were brought against 15 broker-dealers Read More
Oracle will pay $23 million to settle charges brought by the Securities and Exchange Commission resulting from violations of the Foreign Corrupt Practices Act (FCPA), the SEC announced. It is the second time Oracle has settled charges of FCPA violations. According to the SEC order, from at least 2014 through Read More
The Boeing Co. has consented to a cease-and-desist order, and agreed to pay a $200 million penalty, to resolve charges brought by the U.S. Securities and Exchange Commission that the aerospace company made materially misleading public statements in the wake of two fatal crashes of its 737 MAX airplanes. Boeing’s Read More
Denmark has become the latest European country to find that the use of Google Analytics for web analytics purposes is unlawful, following similar conclusions made by other data protection watchdogs in Austria, France, and Italy. In a Sept. 21 judgment, the Danish Data Protection Authority (Datatilsynet) became the latest data Read More
Morgan Stanley Smith Barney (MSSB), a wholly owned subsidiary of Morgan Stanley, has agreed to pay a $35 million civil penalty to settle charges by the Securities and Exchange Commission for repeatedly failing to safeguard their customers’ personally identifiable information (PII), in which 15 million customers were impacted. According to Read More
During two recent speeches, U.S. Department of Justice officials outlined broad policy changes on such topics as voluntary self-disclosure, the use of personal communication devices by executives, compensation clawback policies, chief compliance officer certifications, and others. Last week, Deputy Attorney General Lisa Monaco announced several policy changes intended to clarify Read More
GOL Linhas Aéreas Inteligentes (GOL), Brazil’s second largest airline, must pay $41.5 million to resolve parallel bribery investigations by criminal and civil authorities in the United States and Brazil resulting from violations of the Foreign Corrupt Practices Act. GOL also entered a three-year deferred prosecution agreement (DPA) with the Department of Justice Read More
The Central Bank of Ireland (CBI) has fined Danske Bank 1.82 million euros (U.S.$1.82 million) for transaction monitoring failures relating to its anti-money laundering/countering the financing of terrorism (AML/CFT) policies, procedures, and controls. This is the first penalty the CBI has imposed on a financial institution that is incorporated and Read More
Cloud computing company, VMware, has been charged with violating revenue recognition accounting rules by shifting millions of dollars of revenue into future quarters to meet projections. It will pay an $8 million penalty and has consented to a cease-and-desist order for misleading investors by concealing the company’s slowing financial performance Read More
Wells Fargo will pay a total of $145 million in a settlement with the Department of Labor (DOL) to resolve allegations that Wells Fargo’s 401(k) plan overpaid for its own stock, the agency announced. In a settlement announced Sept. 12, Wells Fargo agreed to pay a $13.2 million penalty to Read More
