In a first-of-its-kind resolution with the Department of Justice, Google has agreed to reform and upgrade its compliance program in a way that ensures “timely and complete responses” to lawful court orders, including subpoenas and search warrants, the Justice Department announced. “This agreement demonstrates the Department’s resolve in ensuring that Read More
Mattel has agreed to a cease-and-desist order and will pay a $3.5 million civil penalty to settle charges brought by the Securities and Exchange Commission relating to misstatements the U.S. multinational toy company made in its third and fourth quarter 2017 financial statements. The SEC separately has initiated litigation against Read More
Seven directors among five companies have resigned from corporate board positions in response to concerns by the Department of Justice’s Antitrust Division that their roles potentially violated the Clayton Act, the agency announced. Section 8 of the Clayton Act prohibits directors and officers from serving simultaneously on the boards of Read More
Lafarge, a French multinational construction conglomerate, and its now-defunct Syrian subsidiary, Lafarge Cement Syria (LCS), pleaded guilty to conspiring to provide illicit payments and resources to two U.S.-designated foreign terrorist groups: the Islamic State of Iraq and al-Sham (ISIS) and the al-Nusrah Front (ANF). These companies further admitted to negotiating 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
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 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
