The National Highway Traffic Safety Administration (NHTSA) has finalized a rule formalizing its whistleblower program. This rule, which fulfills a mandate from the Motor Vehicle Safety Whistleblower Act under the Fixing America’s Surface Transportation (FAST) Act, is designed to strengthen existing whistleblower protections and create a more transparent system for uncovering safety issues in the auto industry.
Becton, Dickinson and Company (BD), a New Jersey-based medical device manufacturer, has agreed to pay a $175 million civil penalty to the Securities and Exchange Commission (SEC). The settlement resolves allegations that BD misled investors about significant risks associated with its Alaris infusion pump, a product that once contributed about 10% of the company’s profits.
In a damning chapter in the annals of corporate malfeasance to date, McKinsey & Company—the vaunted consulting powerhouse—has agreed to pay $650 million to resolve U.S. Department of Justice (DOJ) investigations into its role in fueling the opioid epidemic. With this settlement, McKinsey becomes the first consulting firm to face criminal charges for advising a client, Purdue Pharma L.P., on activities that significantly contributed to a public health catastrophe of staggering proportions.
The European Banking Authority (EBA) has unveiled the results of its fourth and final round of reviews, examining how competent authorities across 30 EU/EEA member states are tackling the ever-present risks of money laundering and terrorist financing (ML/TF) in the banking sector. With this report, the EBA has completed its comprehensive assessment of the authorities responsible for AML/CFT supervision, offering a detailed snapshot of the progress made—and the work that remains.
Turkey has just handed Google a significant blow in the form of a 2.6 billion Turkish Lira fine—roughly $75 million—marking yet another chapter in the ongoing global scrutiny of Google’s dominance in the ad tech industry. The decision from Turkey's Competition Authority (TCA) underscores mounting regulatory pressure on the tech giant’s practices in the online advertising space.
The Securities and Exchange Commission (SEC) has charged Cantor Fitzgerald, L.P. with misleading investors over its handling of two special purpose acquisition companies (SPACs). The firm, which has agreed to pay a $6.75 million civil penalty to settle the case, found itself under scrutiny for bending the truth about its early dealings with potential merger targets.
the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has slapped Toronto-based Exchange Bank of Canada with a $2,457,750 penalty for failing to uphold key anti-money laundering (AML) and anti-terrorist financing rules.