Fines

News & Analysis as of

Today’s Riddle: When Does Medicare Fine Hospitals for Admitting Sick Seniors?

Give up? It’s when the sick senior was treated at that same hospital less than 30 days ago for heart attack, heart failure, or pneumonia. Starting in less than three months, the list of conditions will be expanded to cover...more

Barclays Is Sanctioned By The FCA and The SEC

Barclays took a double hit from regulators yesterday. First the Financial Conduct Authority in the UK fined Barclays Bank Plc, about £38 million for putting £16.5 billion of client assets at risk. Then the SEC imposed a $15...more

The European Court of Justice Caps Liability for Acquired Companies’ Cartel Infringements

The ruling caps fines on companies with historic cartel exposure that are acquired by large companies and increases predictability of future antitrust exposure stemming from pre-acquisition conduct. On 4 September...more

CJEU Rules Maximum Cartel Fine Applies Only to Infringing Subsidiary Turnover and Reduces Fine by €17 Million

On 4 September 2014, the Court of Justice of the European Union (CJEU) confirmed that the maximum fine of 10 per cent of turnover imposed on the infringing subsidiary of a non-infringing parent company should be calculated on...more

Increased Muni Power Means Larger Fines For NJ Mortgagees

As a result of the recent changes in New Jersey law, mortgagees and servicers should review their practices and procedures to ensure timely response to notices of municipal code violations on abandoned or vacant properties in...more

Antitrust Enforcement Set for Record Year of Fines

Global antitrust enforcement is on pace to set record-level fines in 2014, as the Antitrust Division (Division) of the U.S. Department of Justice (DOJ) and the European Commission (EC) undertake particularly aggressive...more

In The New Landscape of TCPA Litigation, No Industry Is Safe

In recent years, the number of private actions filed under the Telephone Consumer Protection Act (the “TCPA” or the “Act”) has risen sharply, but perhaps more concerning is that litigants are using the Act to target an...more

Company Agrees to $6.8 Million Fine For Selling Tainted Eggs and Bribing Official

While foreign bribery makes for sensational headlines, a Midwest egg company recently discovered why U.S. enforcement actions for domestic bribery have resulted in a sharp increase in corporate fines. The egg company agreed...more

Recent EU Decisions Highlight Risks of “Gun Jumping”

The European Commission (“the Commission”) last month levied a fine of EUR 20 million on Marine Harvest ASA (“Marine Harvest”), a Norwegian seafood company, for acquiring a 48.5% stake in its competitor Morpol ASA (“Morpol”)...more

Criminal Antitrust Fines: Trends and Recent Developments

Over the past ten years, criminal antitrust fines have increased dramatically: they totaled only $107 million in fiscal year (“FY”) 2003, but increased to a high of $1.14 billion in FY-2012 and remained relatively steady at...more

EU Court Says Loyalty Discounts Betray Competition: Ruling Underlines U.S. Differences

Intel's use of loyalty discounts and rebates to computer manufacturers and other actions directed at competitor Advanced Micro Devices violated EU competition law, according to the European Union's (EU) General Court. The...more

New York Fines Two Major Insurers

Two recent Consent Orders issued by the New York State Department of Financial Services against major insurers appear to signal the Department’s enhanced focus on insurers’ detailed compliance with regulatory requirements....more

Saskatchewan Introduces Ticketing System for Certain Workplace Safety Violations

As of July 1, 2014, Saskatchewan employers who violate certain occupational health and safety laws may be issued a Summary Offence Ticket, which carry fines ranging from $250 to $1,000, depending on the offence (plus victim...more

Sale of Clippers Will Cost Sterlings Significant Income Taxes

People who do not think that Donald Sterling is being impacted sufficiently by the NBA fine and being forced to sell the Los Angeles Clippers are not taking into account the significant federal and California income taxes...more

Coastal Commission Granted Power to Levy Administrative Fines, Including Fining Public Agencies

The California Coastal Commission now has the power to levy fines against people who have violated public access provisions of the Coastal Act. Specifically, SB 861, signed by Gov. Jerry Brown late last week, added Public...more

"Latest Swiss Cross-Border Tax Investigation Reflects Wider US Enforcement Agenda"

Authorities in the U.S. continue to crack down on foreign financial institutions that have allegedly aided U.S. taxpayers in evading their tax obligations. On May 19, 2014, Credit Suisse AG pled guilty to conspiracy to aid...more

OCAHO Reduces I-9 Fine from $90K to $25K

The Office of the Chief Administrative Hearing Officer (OCAHO) has jurisdiction to review penalties imposed by the U.S. Immigration and Customs Enforcement (ICE) for I-9 compliance violations. In calculating the amount of the...more

Greystar Management Services Will Pay $25,000 to Settle EEOC Pregnancy Discrimination Lawsuit

Management Services Company Fired Pregnant Housekeeper, Federal Agency Charged - BALTIMORE - Greystar Management Services, LP, will pay $25,000 and furnish significant remedial relief to settle a federal pregnancy...more

The General Court's Intel Decision—"Back to the Seventies"

On June 12, 2014, the General Court in Luxembourg upheld the European Commission's 2009 (record) fine of €1.06 billion against Intel for abusing its dominant position in the market for x86 CPU microprocessors by offering...more

FCA Fines Retail Investment Management Firm for Failings Relating to Fund Management

In this report we consider the FCA’s decision to fine Invesco Asset Management Ltd and Invesco Fund Managers Ltd (together, Invesco Perpetual) £18,643,000 for failings relating to fund management and for exposing investors to...more

"Intel Loses Appeal Against European Antitrust Fine"

In a long-awaited judgment issued on June 12, 2014, the General Court upheld in its entirety the European Commission’s May 13, 2009, decision imposing a fine of €1.06 billion ($1.5 billion) on Intel for abusing a dominant...more

Status Updates

..The U.S. Secret Service is looking for software developers who can write programs that are capable of detecting sarcasm in postings on social media sites in order to distinguish real threats from facetious ones; some...more

No KIIDing - Hefty Fine from UK Regulator Underlines Importance of Compliance by UCITS

A fine of over £18 million was recently imposed by the UK regulatory body, the Financial Conduct Authority (the “FCA”), on a fund manager for a range of compliance breaches, including failing to ensure that its KIIDs were...more

FINRA Fines & AWC’S for Blue-Sheet Violations on Which SEC Sought Admissions

I wrote earlier that the SEC was wrong to extend its “admission of wrongdoing” policy (once reserved for extreme cases) to negligent software-glitch misreporting of trade-data in the Scottrade case...more

New Jersey Allows Localities To Levy Fines For Failure To Maintain Vacant Properties

On May 15, New Jersey Governor Chris Christie signed AB 347, which authorizes municipalities to impose penalties on a creditor that fails to timely remedy violations related to the maintenance of vacant residential property...more

189 Results
|
View per page
Page: of 8