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
The Boeing Co. has consented to a cease-and-desist order, and agreed to pay a $200 million penalty, to resolve charges brought by the U.S. Securities and Exchange Commission that the aerospace company made materially misleading public statements in the wake of two fatal crashes of its 737 MAX airplanes. Boeing’s Read More
Morgan Stanley Smith Barney (MSSB), a wholly owned subsidiary of Morgan Stanley, has agreed to pay a $35 million civil penalty to settle charges by the Securities and Exchange Commission for repeatedly failing to safeguard their customers’ personally identifiable information (PII), in which 15 million customers were impacted. According to Read More
During two recent speeches, U.S. Department of Justice officials outlined broad policy changes on such topics as voluntary self-disclosure, the use of personal communication devices by executives, compensation clawback policies, chief compliance officer certifications, and others. Last week, Deputy Attorney General Lisa Monaco announced several policy changes intended to clarify Read More
