News & Analysis as of

Reporting Requirements Internal Controls Enforcement Actions

K&L Gates LLP

Lessons From 2024 Anti-Money Laundering Enforcement Actions

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In 2024, FinCEN and the federal bank regulators announced more than three dozen enforcement actions against banks and individuals arising from alleged Bank Secrecy Act (BSA), anti-money laundering (AML), and countering the...more

Seyfarth Shaw LLP

Six Essential Tips for Complying with Defective Pricing Rules in Government Contracting

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In honor of the release of the 6th Edition of the Government Contracts Compliance Handbook, we’re sharing six essential tips for complying with defective pricing rules. Defective pricing, governed by the Truthful Cost or...more

Health Care Compliance Association (HCCA)

So many reporting systems!

By the time you read this, a new U.S. Department of Justice (DOJ) pilot program providing financial rewards to whistleblowers may already be underway. As I write this in late May, DOJ is in the midst of what is called a...more

BakerHostetler

The SEC’s Regulation of Cybersecurity Continues

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The Securities and Exchange Commission entered into a resolution agreement with R.R. Donnelley & Sons (RRD) on June 18, 2024 with RRD agreeing to pay $2.125 million to resolve disclosure and control violations alleged by the...more

Woodruff Sawyer

CISOs Under the (Liability) Gun

Woodruff Sawyer on

Chief information security officers (CISOs) face an increased likelihood of legal scrutiny after a significant breach. It’s par for the course for CISOs to be scrutinized when security programs don’t hold up under attack—but...more

Holland & Knight LLP

NYDFS Proposes Amendments to Cybersecurity Regulation

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The New York Department of Financial Services (NYDFS) on Nov. 9, 2022, released Proposed Amendments to its Cybersecurity Regulation. The NYDFS Cybersecurity Regulation was one of the first laws requiring companies to comply...more

Holland & Knight LLP

SEC Issues First-Ever Penalties for Deficient Cybersecurity Risk Controls

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The U.S. Securities and Exchange Commission (SEC) has launched a stunning salvo across the bows of public companies with its announcement of civil monetary penalties and a cease-and-desist order against First American...more

BCLP

London Stock Exchange – AIM company public censure and fine

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The London Stock Exchange (‘LSE’) has agreed a public censure and fine of £300,000 with Yü Group plc for breach of Rules 10 and 31 of the AIM Rules for Companies which occurred when the company disclosed inaccurate financial...more

Holland & Hart LLP

No "Pandemic Pass" – Regulators Remain Focused on Financial Reporting, Disclosure, and Auditing Enforcement

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Despite COVID-19 and concurrent situations, recent releases from the U.S. Securities and Exchange Commission (SEC) and Public Company Accounting Oversight Board (PCAOB) demonstrate their keen focus on financial reporting,...more

Jones Day

SEC Highlights Need to Remediate ICFR Material Weaknesses

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Disclosure alone is not sufficient; material weaknesses need to be actively remediated. While the SEC's Financial Reporting and Audit Group has been relatively quiet, it started 2019 with a bang, bringing four coordinated...more

Jones Day

SEC Enforcement in Financial Reporting and Disclosure—2018 Year-End Update

Jones Day on

In 2018, the SEC continued to pursue many of the same initiatives and objectives it articulated in 2017, including emphasizing retail investor protections and keeping pace with technological change. While stand-alone...more

Akin Gump Strauss Hauer & Feld LLP

Red Notice Newsletter - Spanish

ANTICORRUPTION DEVELOPMENTS - DOJ Files Superseding Indictment in Haitian Port Corruption Plot - On October 30, 2018, the U.S. Department of Justice (DOJ) filed a superseding indictment in the District of Massachusetts...more

Akin Gump Strauss Hauer & Feld LLP

Red Notice Newsletter - Russian

ANTICORRUPTION DEVELOPMENTS - DOJ Files Superseding Indictment in Haitian Port Corruption Plot - On October 30, 2018, the U.S. Department of Justice (DOJ) filed a superseding indictment in the District of Massachusetts...more

Akin Gump Strauss Hauer & Feld LLP

Red Notice Newsletter - Chinese

ANTICORRUPTION DEVELOPMENTS - DOJ Files Superseding Indictment in Haitian Port Corruption Plot - On October 30, 2018, the U.S. Department of Justice (DOJ) filed a superseding indictment in the District of Massachusetts...more

Akin Gump Strauss Hauer & Feld LLP

Red Notice Newsletter - October 2018

ANTICORRUPTION DEVELOPMENTS - DOJ Files Superseding Indictment in Haitian Port Corruption Plot - On October 30, 2018, the U.S. Department of Justice (DOJ) filed a superseding indictment in the District of Massachusetts...more

Latham & Watkins LLP

SEC Investigations: A Guide for Public Company Directors, Officers, and In-House Counsel

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Even public companies with a strong code of conduct, an exemplary tone at the top, robust internal controls, and a culture of compliance may face allegations of misconduct that can lead to an investigation by the Division of...more

Ballard Spahr LLP

FDIC Provides Some Statistics on Violations Found During BSA/AML Exams: One Percent of Exams Lead to Formal Enforcement Actions

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In its Summer 2017 issue of Supervisory Insights, published last week, the Federal Deposit Insurance Corporation (“FDIC”) provides some insight into its examination process and outcomes for Bank Secrecy Act (“BSA”)/Anti-Money...more

The Volkov Law Group

The “New” Face of Corporate Misconduct

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As we look across the corporate governance landscape and focus on the spikes of corporate scandals, I started to wonder if there was any pattern or trend to the nature of corporate scandals....more

Perkins Coie

Issuer Reporting and Disclosure Remains Focus of SEC and Other Regulators

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In a recent speech, SEC Enforcement Director Andrew Ceresney confirmed the SEC’s continued pursuit of investigations and enforcement actions relating to issuer reporting and disclosure, an area that remains a high priority...more

WilmerHale

SEC Administrative Case Reinforces Current Emphasis on Internal Controls

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Consistent with its current focus on internal control over financial reporting (ICFR), the Securities and Exchange Commission recently sanctioned a company and individuals for failing to adequately evaluate and audit the...more

Cooley LLP

Is It OK To Delay Implementation Of The New COSO Framework?

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With the original 1992 COSO internal control framework deemed by COSO to be “superseded” as of December 15, 2014, companies are fast approaching the deadline for adoption of the updated 2013 COSO framework, But is it really a...more

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