GRC Report Staff

Three home health agencies and their parent company have agreed to pay $4.5 million to settle allegations of violating the False Claims Act. The U.S. Department of Justice announced on Monday, July 1, 2024, that Guardian Health Care Inc., Gem City Home Care LLC, Care Connection of Cincinnati LLC, and their owner Evolution Health LLC have reached this agreement to resolve claims of providing illegal kickbacks for Medicare referrals.

The Federal Reserve Board has imposed a $43 million fine on Silvergate Capital Corporation and its subsidiary, Silvergate Bank, for inadequate transaction monitoring in violation of anti-money laundering (AML) laws.

The U.S. Supreme Court has overturned the Chevron doctrine, a judicial precedent that has guided the balance of power between federal agencies and the courts for nearly four decades. The ruling in Loper Bright Enterprises v. Raimondo passed with a 6-3 vote, represents a pivotal shift in administrative law and regulatory oversight.

In an era marked by geopolitical tensions and economic uncertainty, Europe's insurance and pension fund sectors are demonstrating unexpected resilience, according to the latest Financial Stability Report from the European Insurance and Occupational Pensions Authority (EIOPA).

The Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury, has announced a proposed rule aimed at strengthening and modernizing anti-money laundering and countering the financing of terrorism (AML/CFT) programs for financial institutions.

The Bank of England (BoE) has released its latest Financial Stability Report, providing an in-depth analysis of the current state of the UK's financial system. The report, which highlights the resilience of UK households, businesses, and banks, also underscores the persistent risks that could impact financial stability. For companies, effective risk management remains crucial in navigating these uncertainties.

The Swedish Data Protection Authority (IMY) has imposed a fine of 15 million Swedish kronor (approximately 1.3 million EUR) on Avanza Bank AB for violating data protection regulations. The decision comes after a thorough investigation into a data breach that occurred between November 15, 2019, and June 2, 2021.