Freight transportation supply company, The Greenbrier Companies, has agreed to pay $1 million in civil penalties, while its founder and former CEO will pay $100,000 in civil penalties, to settle charges that they failed to disclose perks provided to company executives, the Securities and Exchange Commission announced March 2. Founder Read More
The U.S. Department of Health and Human Services (HHS) announced the formation of a new Enforcement Division, Policy Division, and Strategic Planning Division to better address growing enforcement trends, including a crackdown on data breaches and other privacy violations. In recent years, the caseload of the Office for Civil Rights Read More
Ericsson Chief Compliance Officer Laurie Waddy will be leaving the company after four years in the role, Ericsson announced. Her departure comes at a time when the Swedish telecom company faces multiple investigations for its secret dealings with Islamic State terrorists in Iraq. Waddy joined the Swedish telecom company in Read More
Stanley Black & Decker disclosed in its Feb. 23 annual report that it is looking into potential violations of the U.S. Foreign Corrupt Practices Act. In its annual report, the U.S. manufacturing company said it “has identified certain transactions relating to its international operations that may raise compliance questions” under Read More
The Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced that it has sanctioned nine entities across multiple jurisdictions that played a critical role in the production, sale, and shipment of hundreds of millions of dollars’ worth of Iranian petrochemicals and petroleum to buyers in Asia. Treasury targeted Read More
African Gold Acquisition, a publicly traded special purpose acquisition company (SPAC), agreed to a cease-and-desist order and to pay a $103,591 civil penalty to settle charges with the Securities and Exchange Commission for internal controls, reporting, and recordkeeping violations, the SEC announced. According to the SEC order, since the closing Read More
Shipping and logistics company Roadrunner has settled charges brought by the Securities and Exchange Commission resulting from its engagement in a multi-year accounting fraud scheme. According to the SEC’s Feb. 14 cease-and-desist order, from at least July 2013 through January 2017, Roadrunner manipulated its financial reports to hit prior earnings guidance Read More
Manufacturing company Gentex agreed to a cease-and-desist order and to pay a $4 million civil penalty in a settlement with the Securities and Exchange Commission resulting from deficiencies in Gentex’s accounting for its executive and employee bonus compensation programs, the SEC announced. Charges were also brought against Gentex Chief Financial Read More
The Department of Justice’s Antitrust Division announced Feb. 3 that it has withdrawn three outdated antitrust policy statements related to enforcement in healthcare markets. The three policy statements that have been withdrawn are the Department of Justice and FTC Antitrust Enforcement Policy Statements in the Health Care Area (September 1993); Statements of Read More
The Consumer Financial Protection Bureau (CFPB) seeks public comment on a newly proposed rule that would curb “excessive” credit card late fees. According to the CFPB, “major credit card issuers continue to profit off late fees that are protected by an expansive immunity provision. Credit card companies have also relied Read More
