Fines

News & Analysis as of

U.S. Customs Aims to Increase Enforcement of the Jones Act

In what could foretell a significant increase in the enforcement of the coastwise trade provisions of the Jones Act, U.S. Customs and Border Protection (Customs) announced on July 18 the creation of the National Jones Act...more

Investment Firm to Pay Record $11 Million Fine for Violation of HSR Act

On July 12, 2016, the Department of Justice (“DOJ”) announced that investment firm ValueAct Capital (“ValueAct”) agreed to pay a record $11 million fine to settle charges that it and its affiliates violated the reporting and...more

Breach of ePHI Results in $2.7 Million Fine

Oregon Health & Science University (“OHSU”) has paid $2.7 million to the U.S. Department of Health and Human Services, Office for Civil Rights (“OCR”) to settle allegations that it violated the Health Insurance Portability...more

Entity Fined $650,000 in First HIPAA Settlement with a Business Associate

The possibility of business associates potentially being audited, investigated, and ultimately fined is now a reality. On June 24, 2016, the United States Department of Health and Human Services’ Office of Civil Rights...more

New Regulations Increase Fines for Immigration-Related Violations

Recently, the U.S. Department of Justice (DOJ) issued an interim final rule that will increase fines on U.S. employers for violations of federal immigration law. The rule has the potential to substantially increase penalties...more

Does Your Company Have "Reasonable" Procedures for Employee Reporting of Work-Related Injuries and Illnesses Consistent with...

OSHA’s May 12, 2016 final rule revising its recording and reporting regulations received a great deal of publicity, in large part, because of the new requirements beginning in 2017 for some employers to electronically submit...more

Higher Fines Imposed for Environmental Offences

Powerday plc was issued a record fine in April this year for offences relating to operations involving over 17,000 tonnes of waste deposited and stored illegally. Powerday – one of the biggest waste-management companies in...more

FCA Enforcement Action Overview

Reed Smith’s Enforcement Action by the FCA 2016 is a useful overview of enforcement action taken by the FCA in 2016. Enforcement action is important in terms of showing where the focus of the regulator is in terms of...more

Advertising Law - June 2016 #2

Dietary Supplement Makers Reach Deal With FTC - The makers of a dietary supplement touted to help users lose weight and aid with the symptoms of menopause settled with the Federal Trade Commission over charges that their...more

Hong Kong Securities Laws Violations: SFC’s Case Against Moody’s – Part 2

On March 31, 2016, the Securities and Futures Appeals Tribunal (“SFAT”) upheld the disciplinary action of the SFC against Moody’s. This landmark decision is the first of its kind, as a disciplinary action brought by the...more

German Data Protection Authority fines companies for transferring data to the United States

Following the CJEU’s judgment of October 2015 invalidating the European Commission’s Safe Harbor Decision, the Data Protection Authority Hamburg (“DPA Hamburg“) started investigations against 35 internationally operating...more

Chameleon SROs: The Gov’t, But Not Really

For years, self-regulatory agencies (like FINRA or the Exchanges) have wielded the statutory authority granted them by Congress – and backed by the SEC – exercising governmental power to compel testimony, impose fines and...more

General Court of the EU Dismisses Trioplast Application Seeking Reimbursement of Interest Paid for Being Late in Paying Cartel...

With a judgment handed down on 12 May 2016 (Case T-669/14, Trioplast Industrier AB v. European Commission), the General Court of the European Union (GCEU) dismissed an action brought by Trioplast Industrier AB (Trioplast...more

Employers May See Higher OSHA Fines Sooner than Expected

August 1, 2016, is the effective date for imposition of higher fines by the Occupational Safety and Health Administration, but violations alleged in inspections occurring as recently as this February may be subject to the...more

CMA warns UK estate agents against colluding in online portal selection

On 21 April 2016, the Competition and Markets Authority (“CMA”) published an open letter to estate agents in the UK stressing the importance of making independent commercial decisions and warning them against unlawful...more

UK Financial Regulatory Developments - May 2016 #9

Chancellor responds on tax deductibility of regulatory fines - The Chancellor has responded to a letter from Andrew Tyrie MP, Chairman of the Treasury Committee, to confirm that payments made by banks to regulators are...more

Broker, Compliance Officer Fined For AML Failures

Money laundering continues to be a key focus of regulators. Recently, for example, FINCEN Director Jennifer Shasky Calvery discussed money laundering through real estate transactions. Earlier this year the SEC brought an...more

UK Financial Regulatory Developments - May 2016 #8

FCA announces insider dealing convictions - FCA has announced two convictions in the case it brought as part of Operation Tabernula. Martyn Dodgson, an investment banker, and Andrew Hind, a property developer and...more

$250,000 fine against school board may be largest-ever against not-for-profit organization in Ontario

A school board has been handed a $250,000 fine under the Ontario Occupational Health and Safety Act after the death of maintenance worker. The maintenance worker had been assigned the task of replacing a safety cage on a...more

EU General Data Protection Regulation in force from 25 May 2018: the Countdown to Compliance starts now

The long-awaited General Data Protection Regulation was published in the Official Journal of the European Union on 4 May 2016. This means that the most comprehensive reform to the EU’s omnibus data protection law in 20 years...more

Sustainable Development Update - April 2016 #3

Sustainable Development Focus - How cities are taking the lead on green building - Wall Street Journal - Apr 28 - Cities in the U.S. are leading the way on climate and energy policies—especially policies...more

How to Prepare for the General Data Protection Regulation (GDPR)

The EU General Data Protection Regulation (the “GDPR”) was adopted by the EU Parliament last April 14, 2016. The GDPR will replace the EU Data Protection Directive (95/46/EC), which was implemented more than 20 years ago....more

FERC Proposes to Pierce the Corporate Veil and Impose $216 Million in Fines in Alleged Natural Gas Market Manipulation Scheme

On April 28, 2016, FERC issued an order directing Total Gas & Power North America, Inc. (Total Gas), two of its traders, its ultimate corporate parent, Total S.A. (Total) and an affiliate Total Gas & Power, LTD (TGPL) to show...more

Elevated Fine Lacks Justification, Mine Safety Agency Attorney Concedes

A government attorney agreed with opposing counsel that the Mine Safety and Health Administration had not justified a proposed 127 percent increase in fines against an Illinois coal operator. The two sides disagreed, however,...more

CFPB Announces $2.5 Million Fine, Compliance Monitoring for Deceptive Debt Collection Practices

On April 25, 2016, the Consumer Financial Protection Bureau (CFPB) entered into consent orders with a debt collection law firm, two of the firm’s principal partners, and New Century Financial Services, Inc., a company that...more

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