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
The California Civil Rights Department (CRD) announced it has reached a $54 million settlement agreement to resolve allegations that gaming company Activision Blizzard discriminated against women at the company. Headquartered in Santa Monica, California, Activision Blizzard is known for many popular video game franchises, including “Call of Duty,” “World of Read More
The Consumer Financial Protection Bureau (CFPB) has ordered Bank of America to pay a $12 million penalty for submitting false mortgage lending information to the federal government under a long-standing federal law. For at least four years, hundreds of Bank of America loan officers failed to ask mortgage applicants certain Read More
Verizon subsidiary TracFone Wireless has agreed to a settlement with the Federal Communications Commission to resolve charges that the telecom company violated the rules of a program intended to help low-income consumers purchase Internet access and phone services at a discount. TracFone has agreed to compliance measures and will pay Read More
The U.S. Department of Health and Human Services announced a $100,000 settlement with Doctors’ Management Services for failures to determine the potential risks and vulnerabilities to electronic protected health information after a cyberattack exposed the information of more than 200,000 patients. It is notable in that it is the first Read More
