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The United States (US) Securities and Exchange Commission (SEC) has announced that Credit Suisse Group AG (Credit Suisse) has agreed to "pay [US]$196 million and admit [to] wrongdoing" to settle charges that it breached US federal securities law by providing unregistered financial services.

Published in Consumer Protection

The United States (US) Department of Labor (DoL) has announced that restaurant chain Chickie's and Pete's has agreed to pay more than 1,000 current and former employees a total of more than US$6.8 million in backwages and damages for "improperly taking tips from servers" and breaching US federal "minimum wage, overtime and record-keeping requirements".

General Electric (GE) has announced that it has committed to the following as part of its ecomagination initiative to develop "technology solutions that save money and reduce environmental impact for [GE] customers and operations":

The United States (US) Federal Trade Commission (FTC) has made available an Order (15 January 2014) requiring light bulb manufacturer Lights of America Inc (Lights of America) and its owners to pay the FTC US$21 million for "misleading consumers by exaggerating the performance of their [light-emitting diode (LED)] light bulbs".

Published in Consumer Protection

The United States (US) Department of Justice (DoJ) has announced that a former executive of Toyota Group subsidiary Denso Corp (Denso) has agreed to plead guilty to obstruction of justice in relation to a DoJ antitrust division investigation and will serve a one-year prison term.

Published in Competition

The United States (US) Department of Justice (DoJ) has announced that Diagnostic Imaging Group (DIG) has agreed to pay US$15.5 million to settle allegations of false claims and kickbacks.

The United States (US) Environmental Protection Agency (EPA) has announced that the following three companies have agreed to pay fines and modify a total four fishing vessels in order to comply with their seafood processing permits issued under the Clean Water Act:

The United States (US) Department of Justice (DoJ) has announced that head representatives of competition regulators from the US, Canada and Mexico convened in Washington DC on 13 February 2014 to "discuss their mutual efforts to ensure continued effective antitrust enforcement cooperation in [their countries'] increasingly interconnected markets".

Published in Competition

Private Bank Handed Record Fine for AML Failures

12 Feb 2014
Written by World Watch

The United States (US) Financial Industry Regulatory Authority (FINRA) has announced that it has fined Brown Brothers Harriman & Co (BBH) a record sum of US$8 million for "substantial [anti-money laundering (AML)] failures", as well as fining former BBH global AML compliance officer Harold Crawford US$25,000 and suspending him for one month.

Published in Anti-Money Laundering

Former Executive Indicted for Kickback Scheme

12 Feb 2014
Written by World Watch

The United States (US) Department of Justice (DoJ) has announced that former corporate executive Asem Elgawhary has been indicted by a grand jury on fraud, money laundering and tax-related charges. DoJ criminal division Acting Assistant Attorney General Mythili Raman stated that Mr Elgawhary is alleged to have used his managerial position, within a joint venture by the corporation of which he was an executive and a state-owned electricity company, to award three power companies more than US$2 billion worth of contracts in return for US$5 million in kickbacks.

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