Civil Monetary Penalty

News & Analysis as of

SEC Settles FCPA Charges Tied to Payments to Health Care Professionals

The SEC filed another settled action in which payments to health care professionals at state owned entities in China were alleged to be violations of the Foreign Corrupt Practices Act. Although the company furnished extensive...more

SEC Sanctions Adviser For Not Fully Disclosing Fee Arrangements

The Commission has brought a series of cases focused on undisclosed conflicts of regulated entities. A number of those cases centered on undisclosed fee and compensation arrangements. In its most recent case the agency went...more

SEC Brings Complaint in $68 Million Affinity Fraud Scheme

On July 6, the Securities and Exchange Commission filed a complaint in connection with a $68 million affinity fraud scheme allegedly orchestrated by Bingqing Yang, through her wholly owned management companies, Luca...more

OCAHO Imposes $605,250 Fine for I-9 Violations

On July 8, 2015, the Office of the Chief Administrative Hearing Officer (OCAHO), the administrative court with jurisdiction to review penalties for I-9 violations, issued a decision in the matter of United States v. Hartmann...more

House Easily Passes 21st Century Cures Legislation, Includes Significant FDA Reforms

On July 10, 2015, the U.S. House of Representatives passed with an overwhelming majority (344-77), the 21st Century Cures bill (H.R. 6), a high-profile bipartisan bill intended to speed up and improve the process for...more

Chase Bank Ordered to Stop Collecting on 528,000 Accounts – Pay $50 Million to Consumers

On July 8, 2015 the Consumer Financial Protection Bureau (CFPB) and 47 states took action against Chase Bank for illegal debt collection activities involving the sale of delinquent accounts to third-party junk debt buyers. ...more

SEC's Warning — Fund Trustees Are Fair Game

In a cease-and-desist order entered on June 17, 2015, the U.S. Securities and Exchange Commission found that a fund adviser, two independent trustees and an inside trustee willfully violated Section 15(c) of the Investment...more

CPUC Judge Finds Uber in Contempt, Threatens Suspension of Service

Uber may have to suspend service in California and pay a $7.3 million fine as a penalty for withholding information from state regulators, according to a ruling this week by a CPUC administrative law judge. The decision found...more

U.S. Senators Introduce Legislation Seeking to Increase SEC Penalty Amounts

On July 9, U.S. Senators Jack Reed (D-RI) and Chuck Grassley (R-IA) introduced Senate bill 1730, the Stronger Enforcement of Civil Penalties Act of 2015 (SECPA), aimed at increasing the SEC’s ability to combat securities’...more

CFPB Brings First ECOA Disparate Impact Action Post-Inclusive Communities

Just over 18 months after bringing a disparate impact-based ECOA case against Ally Financial (“Ally”) for discriminatory auto loan pricing, the CFPB has struck again—this time taking action against American Honda Finance...more

Broker-Dealer Audits: PCAOB Disciplinary Orders and Extraordinary Cooperation Credit

Despite a decreased budget in 2015, Public Company Accounting Oversight Board (PCAOB) Chairman James R. Doty believed there would be enough resources to continue with the PCAOB’s strategic plan to serve as the oversight body...more

CFTC Sues Chinese Citizen Accused of Executing Fraudulent Money Pass Trades

The Commodity Futures Trading Commission recently sued Chinese citizen Yumin Li, for violations of the Commodity Exchange Act (CEA). The CFTC accused Ms. Li of fraudulently accessing her employer’s futures account to transfer...more

Virtual Currencies are Getting Attention from Industry and Bank Regulators

Virtual currencies such as Bitcoin, once a novel means of exchange, have become so commonplace that in May of this year the New York Stock Exchange created a first-of-its-kind index (the “Index”) representing the U.S. dollar...more

Blog: 21st Century Cures Passes House Of Represenatives; Ups The Ante For HHS Grant And Contracting Fraud

Earlier today H.R. 6, “21st Century Cures” passed the House of Representatives by an overwhelming vote of 344-77. Among the myriad provisions, the bill contains language creating civil money penalties (CMPs) for fraudulent...more

What to Expect From HHS-OIG's New Litigation Team

The Office of Inspector General at the U.S. Department of Health and Human Services (“HHS-OIG”) announced, on June 30, 2015 (during a health care conference), the creation of a new litigation team that will focus solely on...more

CPSC Could Be Coming Around On A Litigation Strategy

The U.S. Consumer Product Safety Commission continues to escalate its enforcement efforts. Recently, the U.S. Department of Justice, on behalf of the CPSC, filed suit against Spectrum Brands Inc. See United States v. Spectrum...more

OIG Adds New Litigation Unit Focused on Fines and Exclusions

On June 30, 2015, the Department of Health and Human Services’ Office of Inspector General (OIG) announced that it would be staffing a new specialty litigation unit whose sole focus will be on levying civil monetary penalties...more

CFPB Tackles Credit Card Vendors For Alleged Unfair Billing of Ancillary Products

Today, the CFPB filed proposed consent orders against two credit card add-on product vendors for allegedly billing consumers for credit monitoring and identity theft protection services they did not receive. Under the...more

Bill Would Extend CMPs to Federal Grants

The bill known as the “21st Century Cures,” H.R.6, would extend Civil Monetary Penalties (CMPs) to cover false claims and false statements relating to grants, contracts, and other agreements funded by the Department of Health...more

BSA, AML Failures by West Virginia Bank Yield FDIC, FinCEN, DOJ Actions

Why it matters - In a coordinated effort, the U.S. government identified another “poster child” to demonstrate its continued vigilance and earnestness in pursuing lax BSA/AML procedures and oversight and violations of...more

Revised House 21st Century Cures Bill Released Ahead of House Vote

Later this week, the House of Representatives is expected to consider the H.R. 6, the 21st Century Cures Act. Ahead of the House vote, the House Rules Committee released a revised version of the bill with new funding offsets...more

Penalty Clauses: A Question Of Context?

In ParkingEye Ltd v Beavis [2015] EWCA Civ 402, 23 April 2015, a dispute about the non-payment of a GBP 85 parking fine the Court of Appeal has explored the fundamental principles of the rule against penalties and given an...more

ONRR Continues to Penalize Oil and Gas Companies With Federal Leases in Wyoming for Failure to Submit Production Reports

The Department of the Interior’s Office of Natural Resources Revenue (“ONRR”) announced that it has issued a $6.9 million civil penalty to High Plains Gas, Inc., for failure to submit production reports for numerous federal...more

HHS OIG Creates New Taskforce to Pursue Civil Monetary Penalties and Exclusions

At the annual meeting of the American Health Lawyers Association (AHLA) held this week in Washington D.C., the U.S. Department of Health and Human Services Office of Inspector General (OIG) announced a new legal team...more

Again, the OIG Approves a Medigap Policy Contract with Preferred Hospital Networks

On June 12, 2015, the U.S. Department of Health & Human Services, Office of Inspector General (OIG) issued Advisory Opinion 15-08. This opinion continues the well-established pattern of favorable advisory opinions which...more

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