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The New Zealand Commerce Commission has announced that Horizon Energy has agreed to "reduce its future earnings" as part of a settlement agreement, after the electricity distributor exceeded its annual price path by NZ$645,686 or approximately 3% in 2011-12.

Published in Financial Integrity

Deutsche Bank Fined for Reporting Failures

04 Sep 2014
Written by World Watch

The United Kingdom Financial Conduct Authority (FCA) has announced that it has fined (21 August 2014) Deutsche Bank's London branch (Deutsche) £4,718,800 for "incorrectly reporting transactions between November 2007 and April 2013".

Published in Financial Integrity

New York State Attorney General Eric Schneiderman has announced a settlement agreement (undated) reached between Bank of America Corporation and two associated entities (together, BofA) and several United States federal and state authorities, the largest settlement in US history to be reached with one institution.

Published in Financial Integrity

The United States Environmental Protection Agency (EPA) has announced that it has "end[ed] a decade of administrative and judicial proceedings by EPA and [the US Department of Justice]" with a settlement agreement under which fuel retailing business owner Robert Duncan and associated companies have paid almost US$2.9 million.

The Australian Securities and Investments Commission (ASIC) has made available documents setting out additional licence conditions imposed on the following Commonwealth Bank of Australia Group (CBA) entities (both undated).

Published in Financial Integrity

The United States Senate Committee on Banking, Housing and Urban Affairs has made available the testimony of individuals on the first panel of witnesses for its hearing Examining the GAO Report on Expectations of Government Support for Bank Holding Companies held on 31 July 2014.

Published in Financial Integrity

The United States Securities and Exchange Commission (SEC) has announced charges (both dated 30 July 2014) under the Sarbanes-Oxley Act against the following individuals associated with computer equipment company QSGI:

Published in Financial Integrity

The United States District Court for the Southern District of New York has ordered Bank of America Corp (BofA) to pay a US$1.27 billion penalty for fraud. The ruling reportedly relates to a lending program of Countrywide Financial Corporation (Countrywide), which was acquired by BofA in 2008.

Published in Financial Integrity

Switzerland-based bank and financial services provider UBS has announced that it has resolved its "cross-border tax matter" with German authorities and agreed to pay €300 million to conclude the proceedings.

Published in Financial Integrity

The United States Financial Conduct Authority (FCA) has announced that it has banned two firms from recruiting Appointed Representatives (ARs) and individual advisers in what is the FCA's first exercise of its suspension powers.

Published in Consumer Protection
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