Danfoss, a multinational Danish energy-efficiency solutions provider, has agreed to pay nearly $4.4 million in a settlement with the Office of Foreign Assets Control (OFAC) resulting from 225 violations of multiple OFAC sanctions programs, OFAC announced. According to OFAC, the violations occurred between November 2013 and August 2017, when Danfoss Read More
The Federal Trade Commission has proposed a new rule that would ban employers from imposing noncompete clauses on employees. According to the FTC, 30 million U.S. employees are covered by noncompetes, and that stopping this practice could potentially increase wages by nearly $300 billion per year. “Noncompetes block workers from freely Read More
The Financial Regulatory Authority (FINRA) fined UBS Securities, the investment banking division of financial institution UBS, $3.75 million for numerous reporting and compliance failures in violation of FINRA reporting rules. FINRA requires member firms to report over-the-counter (OTC) options to the Large Options Positions Reporting (LOPR) system, information that FINRA Read More
Cryptocurrency exchange Coinbase has reached a $100 million settlement with the New York Department of Financial Services for “significant failures” across several areas of its compliance program. The Jan. 4 consent order includes a $50 million penalty and a commitment from Coinbase to invest an additional $50 million in its Read More
The Department of Justice has filed a civil complaint against AmerisourceBergen and two of its subsidiaries, AmerisourceBergen Drug Corporation and Integrated Commercialization Solutions, for ignoring red flags and failing to report suspicious opioid orders that directly contributed to the nationwide opioid epidemic, the DoJ announced. Pharmaceutical distributors, like AmerisourceBergen, are Read More
