Compliance & Ethics

The Department of Justice’s (DOJ) Antitrust Division recently updated its Evaluation of Corporate Compliance Programs in Criminal Antitrust Investigations, a guidance that serves as a benchmark for companies to assess and improve their compliance programs. This revision builds on the 2019 guidelines and highlights emerging trends, especially the growing importance of technology, communication tools, and management culture in maintaining robust antitrust compliance.

Barclays is closing the book on one of the most contentious chapters in its history, agreeing to pay a £40 million fine to the Financial Conduct Authority (FCA) for failing to disclose key arrangements with Qatari investors during a pivotal moment in 2008. The saga, which has spanned over a decade, is an important reminder that actions taken under pressure can reverberate for years.

The Securities and Exchange Commission (SEC) announced today that it had agreed on charges against United Parcel Service (UPS) in response to falsified earnings numbers resulting from its failure to comply with generally accepted accounting principles (GAAP) when valuing one of its poorest-performing subsidiaries.

The Securities and Exchange Commission (SEC) has unveiled its enforcement results for fiscal year 2024, showcasing significant efforts to hold wrongdoers accountable and strengthen the integrity of U.S. capital markets. The Commission filed 583 enforcement actions in total, securing a record $8.2 billion in financial remedies, the highest amount in SEC history.

Three broker-dealers are facing fines and regulatory scrutiny after the SEC charged them with filing incomplete suspicious activity reports (SARs)—a critical misstep in the fight against financial crime. Webull Financial LLC, Lightspeed Financial Services Group LLC, and Paulson Investment Company, LLC agreed to pay a combined $275,000 in civil penalties to resolve the allegations, the SEC announced today.

The U.S. Department of Justice (DOJ) has filed a proposal calling for Google to divest its Chrome web browser. The DOJ argues that Chrome, a critical entry point for internet browsing, has been instrumental in cementing Google’s dominance in search. The filing also leaves open the possibility of requiring Google to spin off its Android operating system, should the divestiture of Chrome not sufficiently address competition concerns.

The Consumer Financial Protection Bureau (CFPB) approved a new rule today that will subject nonbank digital payment companies to federal oversight, aiming to ensure the security of personal data, reduce fraud, and prevent illegal “debanking.” The CFPB, an independent U.S. government agency, is tasked with protecting consumers by enforcing federal financial laws and fostering fair, transparent, and competitive consumer financial markets.