The United States (US) Securities and Exchange Commission (SEC) has made available Orders (all dated 9 January 2014) against the following food processing company and associated individuals for "their roles in an accounting scheme to falsify walnut costs in order to boost earnings and meet estimates by stock analysts":
The United States (US) Securities and Exchange Commission (SEC) has made available an Order (12 December 2013) requiring London-based hedge fund adviser GLG Partners LP (GLG) and its former US-based holding company GLG Partners Inc to pay a total of almost US$9 million to settle charges regarding internal controls failures.
The United Kingdom Financial Conduct Authority (FCA) has made available a Final Notice (11 December 2013) fining former Bradford & Bingley (B&B) finance director Christopher Willford for failing to identify and examine potentially material risks, and failing to immediately notify the B&B board, as was required under the circumstances.
The United States (US) Securities and Exchange Commission has made available an Order (12 December 2013) accepting an offer by Merrill Lynch, Pierce, Fenner & Smith Inc (Merrill Lynch) to pay US$131.8 million to settle charges of breaching US federal securities law in its structuring and marketing of certain security transactions during 2006–2007.
The following United States (US) federal and state authorities have announced penalties totalling US$100 million against Royal Bank of Scotland Group (RBS Group) and Royal Bank of Scotland (RBS) in relation to alleged supervisory failures
The United States (US) Department of Justice (DoJ) has announced that Northrop Grumman Corporation (Northrop Grumman) has paid US$11.4 million to settle allegations that the company improperly charged deferred compensation costs to its federal contracts in breach of an earlier settlement agreement with the Defense Contract Management Agency (DCMA) in the US Department of Defense.
The United States (US) Securities and Exchange Commission (SEC) has made available an Order (4 December 2013) instituting cease-and-desist proceedings against Fifth Third Bancorp (Fifth Third) and former Fifth Third chief financial officer (CFO) Daniel Poston, as well as public administrative proceedings against Mr Poston. According to the SEC, the order follows Fifth Third and Mr Poston's offers to pay US$6.5 million and US$100,000 respectively in settling SEC charges of "improper accounting of commercial real estate loans in the midst of the financial crisis".
United States (US)-based Bank of America Corporation (BoA) has agreed to pay US$20 million to settle a class action which alleges that BoA manipulated municipal securities markets in breach of antitrust law, resulting in uncompetitive interest rates for the plaintiffs.
The United Kingdom Financial Conduct Authority (FCA) has announced that it has fined financial services company SEI Investments Limited (SEI) £900,200 for failing to comply with client money protection requirements.
The United States (US) Department of Justice (DoJ) and a number of other US federal and state agencies have announced a record US$13 billion settlement with bank JPMorgan Chase & Co (JPMorgan). The DoJ states that the settlement is the largest ever with a single entity in US history and resolves "[US] federal and state civil claims arising out of the packaging, marketing, sale and issuance of residential mortgage-backed securities (RMBS) by JPMorgan, Bear Stearns and Washington Mutual" during and prior to the global financial crisis.
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