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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

Obtaining Consent Online - Privacy Guidelines

21 May 2014
Written by World Watch

The Office of the Privacy Commissioner of Canada (OPC) has announced that the Canadian federal, British Columbia and Alberta privacy commissioners have jointly made available Guidelines for Online Consent (undated), which "outline some of the key considerations for obtaining meaningful online consent [to collect personal information]".

Record Penalty for Do-not-call Breaches

21 May 2014
Written by World Watch

The United States (US) Federal Communications Commission (FCC) has ordered (16 May 2014) telecommunications company Sprint to pay a record penalty of US$7.5 million to resolve FCC investigations that Sprint "failed to capture" some consumers' preference to not receive marketing calls or text messages.

Published in Consumer Protection

Wal-Mart has settled litigation brought by the families that survived 23 people among a total of 180 persons who either fell ill or died from exposure to listeria bacteria after eating cantaloupe sold at Wal-Mart retail outlets. Reportedly, the fruit had been grown at a farm where federal food safety regulators found the fruit-washing process to be inadequate.

Published in Consumer Protection

The United States Federal Trade Commission (FTC) has announced that it has approved settlements with motor vehicle manufacturer Nissan North America (Nissan) and advertising agency TBWA Worldwide in relation to a television commercial that used special effects to depict a Nissan truck model performing a task that in actual fact it is unable to perform.

Published in Consumer Protection

The United States (US) Department of Justice (DoJ) has announced that former Subway restaurant franchise owner Shahin Abdollahi has pleaded guilty "for his role in a conspiracy to hack into the computerized cash registers of a number of Subway restaurants to fraudulently obtain more than [US]$40,000 in gift cards".

Published in Financial Integrity

The United States (US) Securities and Exchange Commission (SEC) has announced that Lawson Software co-chairperson Richard Lawson, together with his brother William Lawson and friend John Cerullo have agreed to pay approximately US$5.8 million to settle insider trading charges. According to the SEC, Mr William Lawson and Mr Cerullo acted on non-public information received by Mr Richard Lawson by selling a total of approximately 1.175 million shares in Lawson Software amid public speculation that the company would be sold to one of multiple bidders.

Published in Insider Trading

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