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The United States (US) House of Representatives Energy and Commerce Committee (the Committee) has made available a memorandum (30 March 2014) from its majority staff to its Subcommittee on Oversight and Investigation (the Subcommittee) regarding the Subcommittee's hearing The GM Ignition Switch Recall: Why Did It Take So Long? that was held on 1 April 2014.

Published in Consumer Protection

The following state and county authorities in the United States (US) state of New York have announced that Metropolitan Life Insurance Company (MetLife) has resolved their investigations into breaches of criminal and insurance law by Metlife subsidiaries:

Nitric Acid Manufacturer to Reduce Emissions

26 Mar 2014
Written by World Watch

The United States (US) Environmental Protection Agency (EPA) and Department of Justice (DoJ) have jointly announced that concentrated nitric acid manufacturer LSB Industries has agreed to "reduce harmful emissions of nitrogen oxides ... by meeting emission limits that are among the lowest for the industry in the nation".

The United States (US) Equal Employment Opportunity Commission (EEOC) has announced that Wal-Mart Stores East has agreed to pay US$363,419 and "commit to significant injunctive relief" to settle charges that it breached federal law by "allowing a co-worker to sexually harass Jamie Wells, an intellectually disabled employee".

The United States (US) Equal Employment Opportunity Commission (EEOC) has announced that a federal court judge has held that farm labour contractor Global Horizons is "liable for the pattern or practice of harassing, discriminating, and retaliating against hundreds of Thai workers in the US, in [breach] of federal anti-discrimination laws".

The United States (US) Department of Justice (DoJ) has announced that two individuals have pleaded guilty to conspiring to commit criminal copyright infringement in relation to a scheme that "distributed more than one million copies of copyrighted apps with a total retail value of more than [US]$700,000".

The United States (US) Department of Justice (DoJ) and Federal Trade Commission (FTC), and the Canada Competition Bureau have jointly issued Best practices on cooperation in merger investigations (March 2014), which covers the agencies' cooperative practices, with reference to their bilateral nature.

Published in Competition

The United States (US) Federal Housing Finance Agency (FHFA), as conservator of the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac), has announced a US$9.3 billion settlement with Bank of America Corporation (BofA) over alleged breaches of securities laws relating to private-label, residential mortgage-backed securities purchased by Fannie Mae and Freddie Mac between 2005 and 2007, as well as a number of allegations of common law fraud.

The United States (US) Attorney's Office for the Southern District of New York (the Office) has announced that a US federal court jury has found four individuals guilty of "all 31 counts in connection with their long-time employment at Bernard L Madoff Investment Securities".

Published in Financial Integrity

Broker-dealer Fined for Inadequate Review System

26 Mar 2014
Written by World Watch

The United States (US) Financial Industry Regulatory Authority (FINRA) has announced that it has fined LPL Financial US$950,000 for "supervisory deficiencies related to the sales of alternative investment products".

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