Collecting over $400 million in combined civil penalties from twenty-five broker-dealers, advisory firms, and credit rating agencies for violations of federal recordkeeping requirements, including: Wells Fargo Bank Scotia Capital HSBC Global technology company ABB, Ltd, agreed to pay a $75 million civil penalty to resolve charges related to an alleged bribery scheme Companies that engaged in self-reporting, self-policing, remediation, and cooperation with SEC staff upon discovery were… [read post]

In addition, the SEC obtained judgments from federal courts ordering: Danske Bank, a multinational financial services corporation, to pay a $178.6 million civil penalty to resolve charges that it misled investors about its anti-money laundering compliance program and failed to disclose risks posed by the program’s significant deficiencies; and Vale S.A., a mining company and one of the largest iron ore producers in the world, to pay $55.9 million combined in a civil penalty,… [read post]

National/Federal America’s Governors Get Tested for a Virus That Is Testing Them New York Times – Manny Fernandez, Rick Rojas, Shawn Huber, and Mike Baker | Published: 7/13/2020 Governors have always been judged on their disaster responses, but the coronavirus wreaking havoc across the country these days does not recede like floodwaters and cannot be tamed by calling out the National Guard. [read post]