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The United States Securities and Exchange Commission (SEC) has announced that jewellery trader DGSE Companies (DGSE) and its former chief financial officer (CFO) John Benson have agreed to settle the SEC's complaint (27 May 2014).

Published in Financial Integrity

The United States Securities and Exchange Commission (SEC) has announced that five individuals including former vitamin company NBTY director Glenn Cohen have agreed to pay a total of more than US$500,000 to settle charges (22 May 2014) of insider trading.

Published in Insider Trading

The Brazil Supreme Court of Justice has handed down its decision in a compensation dispute over two-decade-old savings, deciding that banks failed to pay fair interest on deposits during 1987 - 1992. Reportedly, the depositors claimed that the interest paid by the banks on their savings failed to keep pace with rising prices during a period when the government sought to address hyperinflation by regulating interest rates on savings.

Published in Consumer Protection

The United States Department of Justice (DoJ) has announced that a federal grand jury has indicted automotive parts manufacturer Tokai Rika executive Hitoshi Hirano.

Published in Competition

Pharmaceutical company Boehringer Ingelheim (BI) has announced that it has reached a US$650 million settlement of claims filed in the United States in relation to its stroke prevention product Pradaxa.

Published in Consumer Protection

Medical Tech Firm Resolves Kickback Allegations

28 May 2014
Written by World Watch

The United States Department of Justice (DoJ) has announced that medical technology company Medtronic has agreed to pay US$9.9 million to resolve allegations that it "used various types of payments to induce physicians to implant pacemakers and defibrillators manufactured and sold by Medtronic".

Matthew Teeple, a former analyst at hedge fund Artis Capital Management, has pleaded guilty in the United States District Court for the Southern District of New York to insider trading charges and agreed to forfeit US$553,890.

Published in Insider Trading

The United States (US) Federal Trade Commission (FTC) has advised that clothing manufacturer American Apparel (AA) has agreed to a proposed settlement agreement (undated) in relation to FTC charges that AA "deceptively claimed [through statements in its privacy policy that] it held current certifications under the US-[European Union] and US-Swiss Safe Harbor frameworks" even though it had allowed its certifications to lapse.

The United States (US) Securities and Exchange Commission (SEC) has ordered (20 May 2014) that James Adams be banned from practising as an accountant before the SEC for two years in order to settle charges that he breached auditor independence rules in his former role of Deloitte chief risk officer.

Bank group Credit Suisse has announced that it has "entered a guilty plea to one count of conspiracy to assist [United States (US)] customers in presenting false income tax returns to [US tax authority the Internal Revenue Service (IRS)] ... in connection with [Credit Suisse's] former Swiss-based cross border private banking business".

Published in Financial Integrity

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