Commodity Futures Trading Commission Chair, Rostin Benham, announced that he plans on stepping down from his position as President-elect Trump takes office on January 20th. Benham served as the CFTC’s chairman for close to three years. He took the position in 2022 after his predecessor resigned when President Biden took Read More
Independent Health Association agreed to pay up to $98 million to settle allegations that they violated the False Claims Act by knowingly submitting invalid diagnosis codes to Medicare for Medicare Advantage Plan enrollees in order to increase payments that Independent Health received from Medicare. Medicare Advantage, also known as Medicare Read More
W ith the rise of AI and regulatory uncertainty, Chief Audit Executives (CAEs) are expected to face mounting pressure from the Board to address emerging risks and strengthen mitigation efforts. According to Gartner, a technological research and consulting firm, as AI has emerged as both a valuable business asset and Read More
The United States Court of Appeals for the Fifth Circuit ruled that the Corporate Transparency Act (“CTA”) is once again being put on hold as the court assesses its constitutional validity. The CTA is a law that is purposed for requiring businesses to disclose the identities of their beneficial owners. Read More
Bank of America announced that it has settled with the Office of Comptroller of the Currency regarding a cease-and-desist order against the bank for deficiencies related to the Bank Secrecy Act and sanctions compliance programs. The settlement does not require that Bank of America pay a fine but rather take Read More
The Consumer Financial Protection Bureau announced that it has sued Bank of America, JPMorgan, Wells Fargo, and the operator of Zelle, Early Warning Services, for failing to protect consumers from widespread fraud. Zelle is America’s most widely available payment network. According to the lawsuit, customers of the three banks have Read More
A U.S. Court of Appeals court ruled that Nasdaq can no longer enforce its board diversity rules, vacating the Securities and Exchange Commission’s approval of a rule that requires disclosure of each board member’s racial, gender, and LGBTQ+ identification. The court found that the SEC went beyond the scope of Read More
The Federal Trade Commission announced that it has finalized a Junk Fees Rule which essentially prohibits businesses in the live-event ticketing and short-term lodging industries from using bait-and-switch pricing and other tactics used to hide total prices and bury “junk fees.” The rule will ensure that pricing information is provided Read More
G lobal consulting firm McKinsey & Co. has agreed to pay $650 million to settle a Department of Justice investigation into the firm’s consulting work with opioids manufacturer Purdue Pharma. The DoJ had accused McKinsey of fueling the opioid epidemic with its aggressive sales and marketing advice to Purdue, including Read More
M cKinsey and Company Africa, which operates in South Africa as a subsidiary of international consulting firm McKinsey & Co., will pay over $122 million to resolve an investigation by the Justice Department into a scheme to pay bribes to government officials in South Africa between 2012 and 2016. A Read More
