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
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
The Securities and Exchange Commission has tapped an experienced prosecutor to head up the Division of Enforcement. Stepping up from his previous job as attorney general for the state of New Jersey, Gurbir S. Grewal takes over the enforcement office at a time when pandemic-related frauds and investment scams are Read More
Amec Foster Wheeler Limited agreed on Friday with the Securities and Exchange Commission and the Department of Justice to pay a total of more than $43 million related to violations of the Foreign Corrupt Practices Act. The British-based oil and gas services company, owned by John Wood Group PLC, entered Read More
A new survey found that compensation for in-house counsel took a hit in 2020 as a result of the pandemic, with all industries reporting the smallest base salary increases in the last five years. The survey, conducted by legal recruiting firm BarkerGilmore, also found that while lawyers in consumer, healthcare Read More
Deutsche Bank AG is making changes to its anti-financial crimes and compliance teams following years of regulatory scrutiny and enforcement actions, according to a recent internal memo. The changes, which go into effect July 1, are part of a shift away from fixing specific compliance shortcomings and toward tackling regulatory challenges in Read More
