Fines

News & Analysis as of

HSR Act Violations Continue Trend of Heightened Enforcement, Increased Fines in 2016

The past year was a challenging one for investors purchasing voting securities in public corporations with respect to compliance with the Hart-Scott-Rodino Antitrust Improvements Act....more

Avoiding COBRA’s Bite: Measures to Counter COBRA Class Actions

With the filing of a class action complaint in late 2016 in the U.S. District Court for the Southern District of Florida, Wal-Mart Stores, Inc. became the latest large company accused of failing to provide adequate notices as...more

State Insurance Regulatory Actions Serve as Warning

Recent regulatory actions against Zenefits, a cloud-based software company, demonstrate the importance for companies to be properly licensed where they are conducting business. Zenefits has reached regulatory settlements with...more

Rolls-Royce Global Enforcement Action: Part I

When most people across the globe think of Rolls-Royce, one word comes to mind – excellence. Yet that image largely relates to Rolls-Royce Limited, the automobile manufacturer, which was founded in 1909. Just a few years...more

EU e-Privacy Regulation Raises Stakes for Compliance

The European Commission's proposed e-privacy regulation sets forth obligations on handling electronic communications and clarifies obligations for seeking consent for the use of cookies. Meant to bring the e-privacy directive...more

OFSI’s New Power to Issue Monetary Fines for Sanctions Breaches: Consultation

The consequences of breaching sanctions in the UK are due to increase in April. Prominent among the new measures is the power for the Office of Financial Sanctions Implementation (OFSI) to impose a monetary penalty and to do...more

General Cable FCPA Enforcement Action – Part II: The Comeback

Yesterday I began an exploration of the General Cable Corporation (General Cable) Foreign Corrupt Practices Act (FCPA) enforcement action. It was settled with the DOJ via a Non-Prosecution Agreement (NPA) and the SEC via a...more

General Cable FCPA Enforcement Action – Part I: The Bribery Schemes

The Department of Justice (DOJ) and Securities and Exchange Commission (SEC) continued their stunning run of 2016 Foreign Corrupt Practices Act (FCPA) enforcement actions right up to the end of the year with the announcement...more

Teva FCPA Enforcement Action-Part I

Just when you were thinking things could not get any bigger after the Odebrecht/Braskem Foreign Corrupt Practices Act (FCPA) enforcement action, the Department of Justice (DOJ) and Securities and Exchange Commission (SEC)...more

Going After the (Little) Bad Guys: SEC Announces More Actions Against Penny Stock Gatekeepers

The SEC last week announced that it has sanctioned several market participants in the penny stock industry, including attorneys who wrote offering documents as well as stock transfer agents, for their roles in various sham...more

Affair Website Ashley Madison Fined $8.75 Million Over Data Breach, Misrepresentations

The Federal Trade Commission (FTC) has entered into a multimillion dollar settlement with the owners and operators of AshleyMadison.com, a dating website for people interested in having discreet affairs, related to the...more

The City of Los Angeles Adopts “Ban the Box,” Prohibiting Criminal Conviction Inquiry Prior to Job Offer

Seyfarth Synopsis: Effective July 1, 2017, the Los Angeles Fair Chance Initiative for Hiring (the “Ordinance”) imposes a host of new unlawful hiring practices upon private employers regarding inquiries into criminal...more

City of Los Angeles Mayor to Sign Long-Awaited and Onerous “Ban the Box” Law

In the next week, Los Angeles Mayor Eric Garcetti is expected to sign the Fair Chance Initiative for Hiring (Initiative), which will prohibit most private sector employers from inquiring into a job applicant’s criminal...more

Godspeed to John Glenn and Failures at Deloitte

Last week, I paid tribute to Greg Lake. It turned out that the first full week of December was the final week for several important, if not seminal, figures. So this week I will pay homage to those who have left us, today I...more

Steep Fines for Company With Compliance Problems, but Recognition of Remediation Efforts May Provide Model Going Forward

After a series of compliance failures leading to the resignation of company’s CEO, the privately-held health care brokerage company Zenefits was just hit with a $7 million dollar settlement by the California Department of...more

FINRA Fines Lincoln Financial Group $650,000

A Lincoln Financial Group subsidiary has agreed to accept a $650,000 fine levied against it by the Financial Industry Regulatory Authority (FINRA) and to implement more robust security controls for a 2012 hacking that...more

The French Competition Authority imposes record fine for gun jumping practices

On 8 November 2016, the French Competition Authority (FCA) published a press release announcing that it imposed a fine of EUR 80 million on the Altice Group (Altice Luxembourg and SFR Group) for implementing two transactions...more

The IRS and Courts Weigh in on the Deductibility of Fines and Penalties - Tax Update, Volume 2016, Issue 3

Taxpayers who make payments in conjunction with a forfeiture action should attempt to understand the characterization of a payment to see if the specific payment can avoid being treated as a fine or penalty. Originally...more

Forgiving Fines: The NYC Amnesty Program

In an effort to collect more than one billion dollars in outstanding fines, the City of New York is offering an amnesty program that allows participants to resolve violations received from various City agencies, including the...more

$18 Million Fine Levied for Campaign Finance Violation in Washington State

On November 3, 2016, a Thurston County Superior Court judge levied an $18 million penalty against a trade association for violations of Washington campaign finance laws. This is believed to be the largest campaign finance...more

Law Enforcement Thwarts Sovereign Freeman

Copyrighting their names, “signing” with red thumbprints – we’ve seen some unusual court filings from unique individuals. But one person has apparently gone too far. It can be incredibly frustrating for a lender when a...more

UK ICO recommends personal liability of directors for breaches of data protection law

At a recent Parliamentary meeting to discuss the draft Digital Economy Bill, the UK Information Commissioner recommended imposing personal liability and accountability upon company directors. If such liability is imposed, it...more

Embraer FCPA Enforcement Action – Part III

Today I continue my exploration of the recently announced Department of Justice (DOJ) and Securities and Exchange Commission (SEC) Foreign Corrupt Practices Act (FCPA) enforcement action with the announcement of the...more

10 years in jail and up to Dh1m in fines for care givers in UAE found with child pornography

People entrusted with child care who create or distribute child pornography face at least 10 years in jail and fines of up to Dh1 million, the final version of the Child Protection Law stipulates. Informally named...more

Fines Increasing: Fresh Incentive for Employer Immigration Law Compliance

The U.S. Department of Justice (DOJ) has issued an interim final rule that increases significantly the monetary fines assessed against employers for violations of federal immigration law. Under the Immigration Reform and...more

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