The European Union has launched a new law enforcement agency to investigate crimes such as corruption and tax fraud. Its first order of business will be to look for fraud in how the billions of dollars in EU COVID-19 relief funds are being spent. Launched in the wake of the Read More
The Food and Drug Administration has released a notice of changes to its regulatory oversight activities for imported foods, focusing on streamlining regulatory requirements in countries that are deemed as having comparable food safety practices to the FDA. The changes specifically concern the oversight of food products produced in or Read More
Neiman Marcus has appointed Hannah Kim as new chief compliance officer and chief legal officer, effective July 26. Kim will oversee legal and compliance for the chain of luxury department stores and will work to “promote and protect the company’s overall business strategy,” the company said in an announcement. Kim Read More
Akron General Health System, a regional hospital system based in Akron, Ohio, will pay $21 million to resolve allegations under the False Claims Act of improper relationships with certain referring physicians, resulting in the submission of false claims to the Medicare program. The settlement resolves charges that between August 2010 Read More
The Securities and Exchange Commission has tapped an experienced prosecutor to head up the Division of Enforcement. Stepping up from his previous job as attorney general for the state of New Jersey, Gurbir S. Grewal takes over the enforcement office at a time when pandemic-related frauds and investment scams are Read More
Amec Foster Wheeler Limited agreed on Friday with the Securities and Exchange Commission and the Department of Justice to pay a total of more than $43 million related to violations of the Foreign Corrupt Practices Act. The British-based oil and gas services company, owned by John Wood Group PLC, entered Read More
A new survey found that compensation for in-house counsel took a hit in 2020 as a result of the pandemic, with all industries reporting the smallest base salary increases in the last five years. The survey, conducted by legal recruiting firm BarkerGilmore, also found that while lawyers in consumer, healthcare Read More
Deutsche Bank AG is making changes to its anti-financial crimes and compliance teams following years of regulatory scrutiny and enforcement actions, according to a recent internal memo. The changes, which go into effect July 1, are part of a shift away from fixing specific compliance shortcomings and toward tackling regulatory challenges in Read More
The New York City Bar Association proposed a new framework it hopes will influence decisions by regulators to charge chief compliance officers in certain criminal and civil cases. The move is an attempt to quell growing concerns from enforcement actions that hold financial sector CCOs individually liable for the actions Read More
The Securities and Exchange Commission has released its 2021 “Agency Rule List” to give companies an idea of the regulations in its pipeline and when they can expect them to move forward. The list includes a schedule of proposed and final rules on such topics such as climate change disclosures, Read More
