The world of crypto is evolving at a high speed, but with growth comes a pressing need to make sure bad actors don’t exploit the system. Enter the European Securities and Markets Authority (ESMA), which just issued fresh guidelines aimed at preventing market abuse under the EU’s Market in Crypto Assets Regulation (MiCA).
After years of legal battles, Sutter Health has agreed to pay $228 million to settle a class action lawsuit that accused the health system of artificially inflating insurance premiums and limiting consumer choice in Northern California. The settlement marks a significant chapter in a case that’s been ongoing since 2012, with implications not only for Sutter but also for the broader healthcare landscape.
TradeUP Securities (TradeUP) and US Tiger Securities (US Tiger) have agreed to a hefty $950,000 fine for failing to meet key regulatory standards. The issues stem from violations related to their anti-money laundering (AML) programs, their failure to conduct adequate due diligence on foreign financial institution correspondent accounts, and a troubling lapse in communications retention. While the firms did not admit to the violations, the settlement resolves the matter without the threat of further action from FINRA, provided the terms are met.
The U.S. Department of Justice (DOJ) has recently reached settlements in three significant False Claims Act (FCA) cases, securing substantial financial penalties against major organizations in healthcare and defense contracting. These cases not only highlight the government’s commitment to protecting taxpayer dollars but also underscore the importance of accountability in sectors that handle large sums of public funds.
Vault Medical Services has agreed to pay $8 million to resolve allegations that the company violated the False Claims Act by submitting fraudulent claims to the HRSA COVID-19 Uninsured Program. This program was meant to assist uninsured individuals with testing, treatment, and vaccines during the pandemic.
Three of the country’s major pork producers have agreed to settle a long-running class-action lawsuit over alleged price-fixing, contributing a combined $64 million to resolve claims that they conspired to inflate pork prices. The agreement, filed in federal court in Minnesota this week, brings the total recovery in the case to over $180 million and adds a new chapter to one of the largest antitrust battles in the food industry.
Two companies operating a wood treatment facility in Eugene, Oregon, along with their president, have been sentenced for repeated environmental violations, including boiling hazardous waste and venting the pollutants directly into the air. A federal judge ordered J.H. Baxter & Co. Inc., its California-based counterpart J.H. Baxter & Co., and their president Georgia Baxter-Krause to pay a combined $1.5 million in criminal fines.