News & Analysis as of

Civil Monetary Penalty

The Strange Case of OFAC Against Exxon for Sanctions Violations

by Michael Volkov on

In a bizarre enforcement action, The Treasury Department’s Office of Foreign Asset Control (“OFAC”) assessed a $2 million civil monetary penalty against ExxonMobil (“Exxon”) for violations of the Ukraine sanctions....more

Anti-Corruption Digest - July 2017

by Dorsey & Whitney LLP on

Welcome to Dorsey & Whitney’s monthly Anti-Corruption Digest. The Digest puts material regarding anti-corruption enforcement from around the world at your fingertips, keeping you ahead of critical events that impact global...more

FCA Deeper Dive: Developments Regarding Penalties and Damages

by Bass, Berry & Sims PLC on

The FCA continues to be the federal government’s primary civil enforcement tool for investigating allegations that healthcare providers or government contractors defrauded the federal government. In the coming weeks, we...more

SROs to Receive More Power at the Expense of Procedural Fairness

The Ontario Government is proposing to allow self-regulatory organizations (SROs) to use the civil court system to collect fines from their current and former members. The Budget for 2017, released earlier this year, calls...more

Regulatory developments

by Dentons on

Final Notices - Former Logica employee sentenced in prosecution brought by FCA - Manjeet Mohal, 13 January 2017 - Manjeet Mohal, a former business analyst at Logica Plc, has been sentenced for insider dealing along...more

CFPB issues eleventh Semi-Annual Report

by Ballard Spahr LLP on

The CFPB has issued its eleventh Semi-Annual Report to the President and Congress covering the period October 1, 2016 through March 31, 2017. The 178-page report recycles information from previously-issued CFPB reports and...more

CFPB Files Complaints Against Credit Repair Companies for Charging Illegal Fees and Misleading Consumers

by Goodwin on

On June 27, 2017, the Consumer Financial Protection Bureau (CFPB) announced? that it filed two complaints and proposed final judgments against four California-based credit repair companies for misleading consumers and...more

FCC Slams Serial Robocaller With $120 Million Proposed Fine for “Spoofing” Numbers

We all get them. Repeated marketing calls to our mobile and home phones with the incoming phone number altered to make it appear that it’s a local call, when in fact, the call is from a robo-scammer using IP technology to...more

Red Notice Newsletter - June 2017

ANTICORRUPTION DEVELOPMENTS - Linde Group Receives DOJ Declination Pursuant to FCPA Pilot Program - On June 16, 2017, German based chemical and gas company Linde Group’s American affiliates, Linde North America Inc....more

If You Give a Mouse a Cookie: Ongoing Regulatory Monitoring Increasing in Federal and State Non-Compliance Resolution

Earlier this year we highlighted the growing trend of regulators asserting continuing post-investigation control over the operations of companies accused of compliance failures. At the state level, we highlighted a deal...more

Court Accepts $39 Million Settlement Between CFPB and Mortgage Relief Law Firm

by Goodwin on

On June 21, 2017, a federal judge in the Western District of Wisconsin accepted a Stipulated Final Judgment and Order (“Stipulated Judgment?“) based on an agreement between the CFPB and the bankruptcy trustee of a now defunct...more

FBAR Penalties Now Adjusted for Inflation: Abatement/Mitigation Still Possible

If you haven’t filed your Report of Foreign Bank and Financial Accounts (FBARs) on a timely basis, you could be at risk of a higher civil penalty assessment. Inflation-adjusted FBAR penalties are now in effect....more

New Fed Policy Eliminates Ability of Settlement Options to Include Payments to Non-Party NGOs

by Snell & Wilmer on

On June 7, 2017, United States Attorney General Jeff Sessions issued a memorandum to all Department of Justice (DOJ) components and 94 United States Attorney’s Offices prohibiting them from entering into any agreement on...more

The Long Arm of U.S. Sanctions: Penalty Imposed Against Canadian Subsidiary of U.S. Subsidiary of Japanese Company

by Bass, Berry & Sims PLC on

On June 8, the Office of Foreign Assets Control (OFAC) announced a monetary penalty against American Honda Finance Corporation (American Honda) for alleged violations of the Cuban Assets Control Regulations (CACR), the...more

Update on Regulatory Compliance in the Global Health Care Industry

by Baker Ober Health Law on

A comprehensive understanding of the constantly evolving layers that make up federal anti-corruption statutes, sanctions regulations and export control restrictions is imperative for both the pharmaceutical and health care...more

Dish Network hit with record $280 million civil penalty and far-reaching injunctive relief for do not call violations

by Ballard Spahr LLP on

An Illinois federal judge ordered Dish Network to pay the federal government $168 million for violating the FTC’s Telephone Sales Rule (“TSR”). The judgment is the largest civil penalty ever obtained for a violation of the...more

SEC Charges Chief Compliance Officer with AML Violations

The SEC announced that John David Telfer, the former chief compliance officer and anti-money laundering (AML) officer of a registered broker-dealer, agreed to a securities industry bar to settle charges in a pending...more

DOJ Issues Policy Memo Limiting the Use of Supplemental Environmental Projects in Federal Settlements

by Downey Brand LLP on

On June 7, 2017, the United States Department of Justice (DOJ) issued a policy memorandum dated June 5, 2017 that prohibits the allocation of settlement funds to non-governmental, third-party organizations, as a condition of...more

Canadian Government Suspends Private Right of Action Under Anti-Spam Law

by Foley & Lardner LLP on

In an order dated June 2, 2017, the Canadian government indefinitely suspended a key provision in Canada’s anti-spam legislation (CASL), which was set to take effect on July 1, 2017. While CASL initially came into force in...more

$283MM in Telemarketing Penalties: The Top 10 Things You Need to Know About the Big Dish Ruling This Week

by Dorsey & Whitney LLP on

On the heels of a crushing $60MM civil judgment in North Carolina two weeks ago, Dish was hit with a staggering $283MM in penalties in an epic ruling by Judge Sue E. Myerscough of the Central District of Illinois this week in...more

5-Year Statute of Limitations Applies to SEC Disgorgement

by Foley & Lardner LLP on

On June 5, 2017, the Supreme Court issued a unanimous opinion in Kokesh v. Securities and Exchange Commission, resolving a circuit split and holding that the 5-year statute of limitations for civil penalties applies to SEC...more

U.S. Supreme Court Significantly Limits SEC's Power to Recover Disgorgement

by Jones Day on

On June 5, 2017, in an unanimous ruling in Kokesh v. SEC, No. 16-529, the United States Supreme Court significantly limited the breadth of the Securities and Exchange Commission's primary enforcement tool. The Court held that...more

SCOTUS Limits SEC Disgorgement Remedies

by Bass, Berry & Sims PLC on

On June 5, 2017, the U.S. Supreme Court unanimously held that SEC disgorgement remedies used as punitive sanctions for violating federal securities laws constitute civil penalties and are subject to the five-year statute of...more

HRSA Pushes Back 340B Rule Implementation Until October 1, 2017

by Reed Smith on

Changes to the rules governing calculation of the ceiling price and application of civil monetary penalties under the 340B drug pricing program will not be implemented until October 1, 2017 under a rule published by the...more

Seven Takeaways from the ABA National Institute On Health Care Fraud

On May 17, 2017 the American Bar Association convened its 27th National Institute on Health Care Fraud. I have attended many of the past annual meetings, and always enjoy the presentations and the opportunity to network with...more

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Cybersecurity

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