SAI Global GRC Community

Building Organizational Integrity.

A jury in the South Carolina Circuit Court civil division has awarded a total of US$8.1 million in damages to plaintiff and former adviser Francis Maybank, who alleges that BB&T mismanaged what were his retirement funds.

Published in Consumer Protection

The United States Department of Justice (DoJ) has announced that major residential pharmacy services provider Omnicare has agreed to pay US$124 million to settle allegations that it paid nursing homes kickbacks "in return for their continued selection of Omnicare to supply drugs to elderly [public health insurance] beneficiaries".

The United States Environmental Protection Agency (EPA) has announced monetary penalties in separate matters involving the storage of hazardous chemicals.

Record Credit Card Discrimination Settlement

26 Jun 2014
Written by World Watch

The United States Department of Justice (DoJ) has made available Order #1 (undated) settling allegations that GE Capital Retail Bank (Synchrony Bank) "engaged in a nationwide pattern or practice of discrimination by excluding Hispanic borrowers from two of its credit card debt-repayment programs".

The United States National Transportation Safety Board (NTSB) has released a summary (24 June 2014) of its report and recommendations in relation to the accident involving Asiana Airlines Flight 214 at San Francisco International Airport on 6 July 2013.

Anti-money laundering (AML) bureau in the United States Department of the Treasury the Financial Crime Enforcement Network (FinCEN) has made available FinCEN director Jennifer Shasky Calvery's remarks (12 June 2014) at a recent conference held in Las Vegas on the Bank Secrecy Act (the BSA), sponsored by the gaming industry and the gaming law section of the State Bar of Nevada.

Published in Anti-Money Laundering

The United States Environmental Protection Agency has announced that Ford Motor Company (Ford) is revising the fuel economy estimates for six of its models and has agreed to correct its fuel economy labels for affected vehicles within 15 days. According to the EPA, Ford identified errors in its estimates during an internal review.

The United States Federal Trade Commission (FTC) has announced that it has reached a settlement (9 June 2014) with Advert Marketing Inc and its operators Scott Dalrymple and Robert Wence that resolves FTC charges alleging that the defendants sent millions of unwanted text messages to consumers in the US.

Published in Consumer Protection

The United States Federal Trade Commission (FTC) has made available an order (11 June 2014) settling allegations (4 December 2013) that Lin Miao and seven companies "pitched text message services offering alerts [for celebrity news and trivia], but placed charges for these services - typically [US]$9.99 a month - on consumers' bills without their permission" in a practice known as mobile cramming; and "used deceptive websites designed to collect consumers' mobile phone numbers that would then be billed for the services".

Published in Consumer Protection

Two among seven private equity businesses have agreed to settle allegations that the businesses conspired not to outbid one another for the takeovers of eight companies that were executed for a total of more than US$100 billion.

Published in Competition

© 2013 SAI Global Limited ABN 67 050 611 642




User Registration
or Cancel