The Office of the Comptroller of the Currency (OCC) announced in a final decision that it has “reluctantly” terminated its enforcement action against the former chief compliance officer of Rabobank N.A., the U.S.-based subsidiary of Netherlands-based Rabobank. As CCO, Laura Akahoshi was responsible for overseeing Rabobank’s Bank Secrecy Act and Read More
The U.S. Department of Health and Human Services (HHS) announced the formation of a new Enforcement Division, Policy Division, and Strategic Planning Division to better address growing enforcement trends, including a crackdown on data breaches and other privacy violations. In recent years, the caseload of the Office for Civil Rights Read More
The European Commission announced that it has opened an in-depth investigation into Microsoft’s proposed acquisition of Activision Blizzard over anticompetition concerns. Both Microsoft and Activision Blizzard develop and publish games for PC game consoles and mobile devices, as well as distribute games for PCs. In addition, Microsoft also distributes games Read More
Vonage, a subsidiary of Ericsson, has been ordered by the Federal Trade Commission to pay a record $100 million settlement to be used to refund harmed consumers after the internet phone service provider imposed junk fees and created obstacles for consumers who tried to cancel their service. According to the Read More
SolarWinds disclosed in a press release accompanying a recent regulatory filing that the Securities and Exchange Commission has issued it a “Wells Notice” concerning an investigation into SolarWind’s previously disclosed cyberattack on the company’s Orion Software Platform and internal systems. “The Wells Notice states that the SEC staff has made Read More
Modernizing Medicine (ModMed), an electronic health record (EHR) technology vendor, will pay $45 million over allegations that it violated the False Claims Act (FCA) by soliciting and receiving kickbacks in exchange for referrals and by causing healthcare providers to submit false claims, the Department of Justice (DoJ) said. The Anti-Kickback Read More
Danske Bank said in a recent financial report it expects to pay a total of 15.5 billion Danish kroner (U.S. $2.1 billion) to U.S. and Danish enforcement authorities to settle allegations that for years it allowed more than $200 billion in dirty money to be laundered through its former Estonia Read More
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
