In a landmark case, the Supreme Court has struck down the Securities and Exchange Commission’s authority to use in house-tribunals when seeking civil penalties against those accused of securities fraud. The Court, in the case of SEC v. Jarksey, ruled that when the SEC seeks civil penalties from defendants for Read More
The Securities and Exchange Commission charged Silvergate Capital, its former CEO Alan Lane, and former Chief Risk Officer Kathleen Fraher with misleading investors about the strength of the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) compliance program and the monitoring of crypto customers, including FTX. The SEC also charged Silvergate and its Read More
Boeing has agreed to pay $51 million in a settlement with the U.S Department of State (DoS) to resolve around 200 violations of the Arms Control Act and the International Traffic in Arms Regulations (ITAR). The DoS and Boeing reached this settlement following an extensive compliance review by the Office Read More
The Financial Industry Regulatory Authority (FINRA) recently announced that it has fined Goldman Sachs for not properly monitoring trades ranging from 2009 to 2023. The banking giant has agreed to pay around $500,000 in order to settle these claims, but did not admit or deny any of FINRA’s findings. According Read More
The Securities and Exchange Commission (SEC) announced that registered investment adviser Van Eck Associates has agreed to pay a $1.75 million to settle charges that it failed to disclose a social media influencer’s role in the launch of an exchange-traded fund (ETF) in 2021. According to the SEC’s order, in Read More
The Securities and Exchange Commission settled charges against J.P. Morgan Securities (JPMS) for impeding hundreds of advisory clients and brokerage customers from reporting potential securities law violations to the SEC. JPMS agreed to pay an $18 million civil penalty to settle the charges. According to the SEC’s order, from March Read More
The French Data Protection Authority (FDPA) issued a $35 million fine to Amazon for its excessive surveillance of its employees, including the company’s relentless tracking of employee performance and breaks, as well as the implementation of a video monitoring system without informed employee consent. The Commission Nationale de l’informatique et Read More
German software company SAP will pay more than $220 million to resolve investigations by the U.S. Department of Justice and the Securities and Exchange Commission into violations of the Foreign Corrupt Practices Act (FCPA). The SEC found that SAP violated the FCPA by paying bribes to foreign officials in South Read More
The Federal Trade Commission has prohibited Rite Aid from using facial recognition technology for surveillance purposes for five years as part of a settlement of charges that the retailer used the technology improperly. The FTC had accused Rite Aid of failing to implement reasonable procedures and prevent harm to consumers Read More
The consequences for a scheduling and operational meltdown by Southwest Airlines during the 2022 holiday travel season, which stranded millions of travelers, continue to mount. In the latest development, The U.S. Transportation Department has ordered Southwest to pay a $140 million civil penalty, part of a broader consent order, after Read More
