Enforcement against foreign bribery on a global scale has hit an historic low, according to a report by Transparency International. In Transparency International’s report, “Exporting Corruption 2022,” 43 signatories to the OECD Anti-Bribery Convention were assessed, along with China, India, Hong Kong SAR, and Singapore. Together, the countries analyzed account Read More
The Consumer Financial Protection Bureau has ordered Choice Money to pay a $950,000 penalty for failing to accurately disclose key prepayment information to customers sending remittances. Choice Money also had deficient recordkeeping practices that made it difficult for consumers to dispute erroneous transactions and receive a refund of certain fees, Read More
The Securities and Exchange Commission announced that it has reopened the public comment periods for 11 rulemaking releases and one request for comment due to a technological error resulting in numerous public comments submitted through the agency’s online comment form not being received. The SEC advised that all those who Read More
Sigma, a privately owned brokerage firm, has agreed to pay 531,000 pounds ($592,000) in a settlement with the U.K. Financial Conduct Authority (FCA) resulting from a failure to report certain required transactions. According to the FCA’s Oct. 6 final notice, many of Sigma’s failings resulted from inadequate governance and oversight Read More
The National Labor Relations Board (NLRB) this month signed separate memorandums of understanding (MOUs) with the Federal Trade Commission and the Department of Justice, which create formal partnerships between the agencies in the name of protecting worker rights. On July 26, the NLRB signed an MOU with the Justice Department’s Read More
The Public Company Accounting Oversight Board (PCAOB) has fined four audit firms for failing to file Form APs and, thus, failing to disclose who led specific audits for the firm and whether any other firms were involved in those audits. Failure to file Form APs in a timely manner is Read More
The Financial Regulatory Authority on Oct. 4 fined UBS $2.5 million for Regulation SHO (Reg SHO) violations and supervisory failures that spanned nine years, FINRA said. In settling this matter, UBS consented to the entry of FINRA’s findings without admitting or denying the charges. In addition to the censure and Read More
Barclays has reached a $361 million settlement with the Securities and Exchange Commission to resolve charges that it offered and sold an “unprecedented” amount of unregistered securities due to an internal-control failure, the SEC said. On Sept. 29, the SEC ordered Barclays and Barclays Bank to pay a $200 million Read More
The Securities and Exchange Commission and Commodity Futures Trading Commission (CFTC) have fined a group of Wall Street banks more than $1.8 billion in combined penalties for recordkeeping failures related to the unapproved use of electronic communications, the regulators announced. In the SEC case, charges were brought against 15 broker-dealers Read More
Oracle will pay $23 million to settle charges brought by the Securities and Exchange Commission resulting from violations of the Foreign Corrupt Practices Act (FCPA), the SEC announced. It is the second time Oracle has settled charges of FCPA violations. According to the SEC order, from at least 2014 through Read More
