The Securities and Exchange Commission has published a proposed rule to amend Regulation S-P to require broker-dealers, investment companies, registered investment advisers, and transfer agents to notify individuals affected by certain types of data breaches that may put them at risk of harm, the SEC announced. Regulation S-P, a regulation Read More
Carrie Tolstedt, former head of Wells Fargo Bank’s retail banking division, has agreed to plead guilty to obstructing a government examination into the bank’s widespread sales practices misconduct, including opening millions of unauthorized accounts, federal authorities announced. In a plea agreement filed March 15 in U.S. District Court, Tolstedt pled Read More
Evoqua Water Technologies Corp., a seller of water technology and treatment products, has agreed to an $8.5 million civil penalty to resolve charges of accounting fraud, the SEC announced. Imran Parekh, a former division-level finance director, was also charged with improper accounting practices. According to the SEC complaint, beginning in Read More
The Department of Justice declined to prosecute Corsa Coal Corporation for Foreign Corrupt Practices Act (FCPA) violations following an assessment of factors set forth in the Criminal Division’s Corporate Enforcement Policy (CEP) and Voluntary Self-Disclosure Policy. “We have reached this conclusion despite the bribery committed by employees and agents of Read More
A former chief compliance officer of an investment advisory firm, charged with wire fraud, was sentenced to serve three years in prison and pay restitution of $371,332 for stealing over $500,000 from clients and the firm itself, the DOJ announced. According to the Department of Justice, Jennifer Campbell was the Read More
The Federal Trade Commission announced it has finalized its order against Instant Brands, a kitchen appliance company, to resolve false “Made in USA” claims. According to the FTC’s complaint, first announced in January, “Instant Brands faced increased demand for its glass measuring cups in the early days of the COVID-19 pandemic, when Read More
Global mining and metals company Rio Tinto has agreed to pay a $15 million civil penalty for Foreign Corrupt Practices Act (FCPA) violations arising out of a bribery scheme involving a consultant in Guinea, the Securities and Exchange Commission announced. According to the SEC order, Rio Tinto in July 2011 Read More
The Department of Justice has announced the launch of its first-ever Pilot Program on Compensation Incentives and Clawbacks. In March 2 remarks at American Bar Association’s annual National Institute on White Collar Crime event, Deputy Attorney General Lisa Monaco said the program will have two parts. “First, every corporate resolution Read More
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
