News & Analysis as of

Sanctions Settlement Agreements

A&O Shearman

U.S. sanctions enforcement in the virtual currency space - USD 1 billion and counting...

A&O Shearman on

Beginning in 2022, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has increasingly focused its enforcement activity on entities operating in the virtual currency space, illustrating a trend that...more

Sheppard Mullin Richter & Hampton LLP

Sanctions Enforcement in the Cryptocurrency Industry Continues to be a Focus

On December 13, 2023, CoinList Markets LLC (“CoinList”) agreed to pay $1,207,830 pursuant to a settlement agreement with the Office of Foreign Assets Controls (“OFAC”) in connection with allegations that the San Francisco...more

Sheppard Mullin Richter & Hampton LLP

OFAC Continues Focus on Virtual Currency Industry with Announced Settlement with Payward, Inc.

Yesterday, on November 28, 2022, the Office of Foreign Assets Control (OFAC) announced a $362,158.70 settlement agreement with Payward, Inc. (Kraken), an online virtual currency exchange, in connection with 826 apparent...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Licenses and the Law Series, Part V

Potential Board Sanctions Against Licensees - In this article, we explain the different actions that boards can take against licensees. The board may take the following actions once its investigation concludes:...more

Eversheds Sutherland (US) LLP

A Goldfish is the Happiest Animal, A Securities Respondent is Not: Ted Lasso, SEC, FINRA, and DOL Enforcement Actions (October...

You know what the happiest animal on Earth is? It's a goldfish. Y'know why? It's got a 10-second memory. Be a goldfish. During the pandemic, we have had a lot of lows, as well as a few highs. And that’s just in pop...more

Vinson & Elkins LLP

OFAC Announces a Civil Settlement Agreement For Multiple Sanctions Violations Related To Digital Currency Transactions

Vinson & Elkins LLP on

On February 18, 2021, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) announced a half-million dollar settlement with BitPay, Inc. (“BitPay”), a U.S. company that processes digital currency...more

Hudson Cook, LLP

Deficiencies in Sanctions Screening Process Lead to Settlement

Hudson Cook, LLP on

On July 8, the U.S. Department of the Treasury announced a settlement with Amazon.com, Inc., related to the company's potential civil liability for apparent violations of multiple sanctions programs resulting from...more

Bradley Arant Boult Cummings LLP

False Claims Act: 2019 Year in Review

The year 2019 was another active year in False Claims Act (FCA) investigations and litigation. Although the year lacked a singular blockbuster case, there were decisions of particular note. The Supreme Court clarified the...more

Faegre Drinker Biddle & Reath LLP

Waive or Pay: FINRA Reaches Final Settlements in Its Mutual Fund Waiver Initiative

Justice Brandeis once famously said that sunlight is the best disinfectant. Perhaps, but in FINRA’s purview, settlements might be better. Along these lines, FINRA recently announced that it has reached final settlements in...more

UB Greensfelder LLP

Big Firms Paying Big Fines: A Discussion Of Two FINRA Settlements

UB Greensfelder LLP on

What is it with big firms and fingerprints? You may recall back in October 2017, J.P. Morgan entered into an AWC with FINRA in which it agreed to pay a $1.25 million fine for the following, as described in FINRA’s press...more

Akin Gump Strauss Hauer & Feld LLP

Red Notice Newsletter - February 2019

ANTICORRUPTION DEVELOPMENTS - DOJ Unseals Indictment of Two More Individuals Connected With PDVSA Corruption Scheme - On February 26, 2019, the U.S. Department of Justice (DOJ) announced the unsealing of an indictment...more

Akin Gump Strauss Hauer & Feld LLP

Red Notice Newsletter - August 2018

ANTICORRUPTION DEVELOPMENTS - $34 Million SEC Settlement for Legg Mason - On August 27, 2018, the Securities and Exchange Commission (SEC) announced that Legg Mason Inc. will pay more than $34 million to settle an...more

Shumaker, Loop & Kendrick, LLP

United States Supreme Court Limits Sanctions Against Tire Manufacturer in Goodyear Tire & Rubber Co. v. Haeger (April 18, 2017)

In Goodyear Tire & Rubber Co. v. Haeger, plaintiffs asserted a products liability claim against Goodyear for a tire failure. The parties entered into a settlement agreement, after which plaintiffs discovered that Goodyear did...more

Mintz - Health Care Viewpoints

Billing Companies Beware – OIG Signals a Crackdown on Fraud and Abuse at All Levels

In an unprecedented administrative action, the U.S. Department of Health & Human Services Office of the Inspector General (“HHS-OIG”) penalized a medical billing company for preparing and submitting claims to Medicare for...more

Robins Kaplan LLP

Your daily dose of financial news - The Brief – 7.18.16

Robins Kaplan LLP on

William Ackman’s multi-year effort to expose Herbalife as a Ponzi scheme (and make good on his massive short of its stock) saw something of a moral victory last week, with the FTC imposing big-time sanctions ($200 million in...more

McDermott Will & Emery

Settlement Agreement Precludes Consideration of Order Criticizing Attorney Conduct - Tesco Corp. v. Nat’l Oilwell Varco, L.P.

McDermott Will & Emery on

Addressing for the first time the effect of a settlement agreement on an appeal from an order criticizing two attorneys’ conduct, the U.S. Court of Appeals for the Federal Circuit concluded that the intervening settlement...more

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