Compliance & Ethics

Teva Pharmaceuticals to Pay $450 Million in Settlement Over Kickback Allegations

Teva Pharmaceuticals USA Inc. and Teva Neuroscience Inc. have agreed to pay $450 million to resolve allegations of kickback schemes and price fixing. The settlement, announced Thursday by the U.S. Department of Justice, addresses violations of the Anti-Kickback Statute (AKS) and the False Claims Act (FCA), marking a major victory in the government's ongoing efforts to combat healthcare fraud.

TD Bank Pleads Guilty to $1.8 Billion in Criminal Penalties, Totaling Over $3 Billion in Regulatory & Civil Penalties

In an unprecedented enforcement action that marks a watershed moment in compliance and regulatory enforcement, TD Bank has pleaded guilty to multiple felonies and agreed to pay $1.8 billion in criminal penalties, with total penalties reaching approximately $3 billion when combined with civil enforcement actions. The resolution represents not only the largest penalty ever imposed under the Bank Secrecy Act but also introduces a novel enforcement approach: the first-ever daily fine against a bank for persistent compliance failures.

Trio of Whistleblowers Share $12 Million SEC Award, Highlighting Wall Street's New Era of Accountability

The Securities and Exchange Commission has awarded $12 million to three individuals whose cooperation proved instrumental in a major enforcement action. The substantial reward underscores a shifting landscape where internal witnesses increasingly shape Wall Street oversight.

TSB Bank Faces £10.9 Million Regulatory Fine Over Systematic Failures in Treatment of Vulnerable Customers

Britain's financial watchdog has imposed a £10.9 million fine on TSB Bank plc, underscoring the regulator's growing intolerance of inadequate customer protection measures in the banking sector. The penalty comes after a comprehensive investigation revealed persistent failures in the bank's treatment of customers facing financial hardship.

Singapore Releases Comprehensive Strategy to Combat Money Laundering

Singapore's Inter-Ministerial Committee (IMC) recently announced a sweeping overhaul of the nation's anti-money laundering framework, introducing far-reaching measures designed to strengthen the city-state's defenses against financial crimes while preserving its status as a leading global financial center.

SEC Enforcement Director Grewal to Step Down After Three-Year Tenure

The Securities and Exchange Commission announced today that Gurbir S. Grewal, Director of the Division of Enforcement, will leave his position effective October 11, 2024. Sanjay Wadhwa, the division's current Deputy Director, will take over as Acting Director, while Sam Waldon will serve as Acting Deputy Director.

CFTC Hits Swap Trading Platforms with Over $2.2M in Fines Amid Growing Internal Policy Rift

The Commodity Futures Trading Commission's recent enforcement actions against three swap execution facilities, resulting in $2.175 million in combined penalties, has sparked significant debate over the agency's evolving regulatory approach, including a rare public dissent from within the Commission itself.