Enforcement Actions

News & Analysis as of

CFPB sues company for alleged credit card sham

A new lawsuit filed by the CFPB alleges that a Texas-based company, Union Workers Credit Services, deceived consumers into paying fees to sign up for a “platinum card” that purported to be a general-use credit card but, in...more

CFPB sues company for alleged credit card sham

A new lawsuit filed by the CFPB alleges that a Texas-based company, Union Workers Credit Services, deceived consumers into paying fees to sign up for a “platinum card” that purported to be a general-use credit card but, in...more

Student Debt Relief Services Slapped with TSR and UDAAP Claims

On December 11, 2014, the CFPB filed two actions against debt relief companies. Complaint for Permanent Injunction and Other Relief, Consumer Fin. Prot. Bureau v. IrvineWebWorks, Inc., No. 8:14-cv-1967 (C.D. Cal. Dec. 11,...more

Tip-Related Claims Will Continue to Be Served Up as the Lawsuit du Jour Against the Hospitality Industry in 2015

The hospitality industry is particularly fertile ground for a wide variety of wage and hour issues, which continue to plague management through steadily increasing federal and state department of labor investigations and...more

Lawler Foods Refused to Hire Non-Hispanics EEOC Charges in Discrimination Suit

Bakery's Word-of-Mouth Hiring and Ads Stating a Preference for Spanish Speakers Also Discriminatory, Federal Agency Says - HOUSTON - Lawler Foods, Inc. and Lawler Foods, Ltd., a Houston-area production bakery, violated...more

Avon Settles FCPA Charges with the DOJ and SEC

Travel, entertainment and gifts continue to be a central focus of FCPA enforcement. Earlier this month, and last month, the Commission filed settled FCPA actions centered on these items. Now the SEC and the DOJ have settled...more

Dallas Airmotive, Inc.'s FCPA Matter Offers Practical Insights and Continuing Lessons

On December 10, 2014, DOJ filed a criminal Information alleging (i) conspiracy and (ii) violation of the bribery provisions of the FCPA against Dallas Airmotive, Inc., an aircraft engine maintenance, repair and overhaul...more

Gifts, Meals and Then . . . FCPA Enforcement

Life can be very humbling. The SEC has definitely humbled me. For years now, I have been claiming that companies spend too much time worrying about gifts, meals and entertainment expenses under the FCPA, rather than...more

DOJ Recovers Nearly $6 Billion under False Claims Act in 2014

The Department of Justice (DOJ) obtained a record $5.69 billion from civil cases involving fraud and false claims against the government in the fiscal year ending September 30. This marks the first year the DOJ recovered more...more

FCPA Compliance and Ethics Report-Episode 115-Tom Fox and Matt Kelly on COSO, Bruker Corp, Dallas Airmotive and Alstom [Video]

In this episode Compliance Week editor Matt Kelly and I discuss the COSO 2013 Framework implementation and its changes from the prior Framework. We also discuss the recent Bruker Corp & Dallas Airmotive FCPA enforcement...more

SEC Continues To Focus On Microcap Fraud

The Commission continues to focus on microcap fraud actions with two new manipulation cases involving penny stocks. In one a former registered representative acted as an unregistered broker and then engaged in a series of...more

Searching for Greener Pastures: SEC Insider Trading Enforcement in a Post-Newman Era

In United States v. Newman, the U.S. Court of Appeals for the Second Circuit dealt a substantial blow to federal prosecutors’ epic crackdown on insider trading by raising the bar for the government’s burden of proof in...more

Hong Kong Regulatory Update - December 2014

This Hong Kong regulatory update is intended to provide a brief overview of the principal Hong Kong regulatory developments in the preceding three months relevant to companies listed or proposed to be listed on The Stock...more

SEC Files Settled FCPA Action Centered On Improper Travel

A “world tour” was at the center of FCPA violations by two employees of FLIR Systems, Inc., In the Matter of Stephen Timms, Adm. Proc. File No. 3-16281 (Nov. 17, 2014). Travel was also the focus of the Commission’s latest...more

Financial Regulatory Developments Focus - December 2014 #3

In this issue: - Bank Prudential Regulation & Regulatory Capital - Bank Structure - Credit Ratings - Derivatives - Enforcement - Financial Market Infrastructure - Funds...more

Department of Labor Targeting Oil and Gas Contractors

On December 9, 2014, the U.S. Department of Labor (“DOL”) announced that it had achieved $4.5 million dollars in settlements from private employers as a result of a two year investigation into contractors working in the...more

CFPB announces lawsuits against student loan debt relief companies

On December 11, the CFPB announced lawsuits against two student loan debt relief companies alleged to have deceived borrowers into paying upfront fees for federal student loan repayment benefits that are available for free....more

An Update on FAA Regulatory Revisions, DOT and FAA Enforcement Actions, and Other Aviation-Related Regulatory Matters

This edition of the Cozen O’Connor Aviation Regulatory Update provides an overview of recent FAA regulatory initiatives involving crew pairing, alcohol and drug testing rates, the use of aviation fuel taxes by airports and...more

Justrite Manufacturing Company to Pay $418,000

TO SETTLE EEOC CLASS INVESTIGATION EEOC Found Employer Discriminated and Retaliated Against Disabled Employees - CHICAGO - Justrite Manufacturing Company, a Mattoon, Ill.-based manufacturer of storage, handling and...more

SEC Charges Company Executives With Issuing False Press Releases to Inflate Stock Price

The Securities and Exchange Commission recently charged two executives at a penny stock company with issuing false and misleading press releases while secretly selling thousands of their own stock shares into the market. The...more

The Nobel Prize and FCPA Enforcement Going Forward

One hundred and 13 years ago on this date, the first Nobel Prizes were awarded in Stockholm, Sweden, in the fields of physics, chemistry, medicine, literature, and peace. The ceremony came on the fifth anniversary of the...more

Forum Selection For SEC Cases – District Court or Administrative Proceeding?

In late September the SEC filed a settled insider trading case against an associate of an unregistered investment adviser. In the Matter of Richard O’Leary, Adm. Proc. File No. 3-16166 (September 25, 2014). The next week the...more

OFAC Settles with Independent Manufacturer for Alleged Violations of the Cuban Assets Control Regulations

Recently, OFAC settled with a Portland, Oregon based manufacturer for allegedly violating the Cuban Assets Control Regulations, 31 C.F.R. part 515. The manufacturer agreed to pay $2,057,540 for the actions of its subsidiary,...more

SEC’s Administrative Proceedings: Where One Stands Appears to Depend on Where One Sits

As we have previously reported, practitioners and judges alike have recently been questioning the SEC’s increased use of administrative proceedings. Defense lawyers complain that administrative proceedings, which have...more

International Cartel Sales to Global Supply Chains Raise U.S. Antitrust Issues

In a widely awaited opinion, the Seventh U.S. Circuit Court of Appeals in Chicago has issued an opinion which affects the scope of government enforcement actions and which purchasers may pursue private civil treble damage...more

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