I nvesco Advisers is paying the price for misleading clients and investors about how much of its assets were truly aligned with environmental, social, and governance principles. The Atlanta-based investment firm has agreed to pay a $17.5 million civil penalty to settle the Securities and Exchange Commission’s charges that it Read More
T he Securities and Exchange Commission has charged four public companies with making materially misleading disclosures regarding cybersecurity risks and intrusions. The charges against the four companies—Unisys, Avaya, Check Point Software, and Mimecast—result from an investigation involving public companies impacted by the compromise of SolarWinds’ Orion software. The SEC also Read More
T he Securities and Exchange Commission’s Division of Examinations has released its 2025 examination priorities. This year’s examinations will prioritize perennial and emerging risk areas, such as fiduciary duty, standards of conduct, cybersecurity, and artificial intelligence. For fiscal year 2025, in addition to conducting examinations in core areas such as Read More
T he U.S. Department of Defense issued final rules for its Cybersecurity Maturity Model Certification (CMMC) Program, which is indented to ensure that defense contractors meet standards for safeguarding sensitive information. The CMMC Program aligns with the DoD’s existing information security requirements for private sector defense contractors. It is designed Read More
C anadian-based TD Bank will pay more than $3 billion in a historic settlement with U.S. authorities who said that the financial institution’s lax practices allowed significant money laundering over multiple years. The bank pleaded guilty to conspiracy to commit money laundering, the largest bank in U.S. history to do Read More
T he Justice Department filed a civil antitrust lawsuit against Visa accusing the payments processor of monopolization and other unlawful conduct in debit network markets in violation of anti-trust laws. Filed in the U.S. District Court for the Southern District of New York, the complaint alleges that Visa illegally maintains Read More
In April 2023, the Federal Trade Commission announced that that it would be banning noncompete agreements in order to promote competition. Although this historic announcement was meant to change the entire landscape of the employment industry within the U.S., the FTC’s push to ban these agreements raised much skepticism from Read More
The Securities and Exchange Commission announced that it settled charges against New York-based registered transfer agent Equiniti Trust Company LLC, , for failing to assure that client securities and funds were protected against theft or misuse. Those failures led to the loss of more than $6.6 million of client funds Read More
After an 8-yearlong battle, the insurance giant Humana agreed to pay $90 million to settle claims that it violated the False Claims Act when it submitted fraudulent bids for Medicare prescription drugs contracts. The allegations claim that by misrepresenting the value of its Part D drug plan, also known as Read More
The Securities and Exchange Commission and the Commodity Futures Trading Commission announced that they collected $474 million in fines from broker-dealers and investment advisers for widespread and longstanding failures by the firms and their employees to maintain and preserve text messages and other electronic communications. The SEC announced that the Read More
