The Public Company Accounting Oversight Board (PCAOB) has announced disciplinary actions against five audit firms for violations related to audit documentation and disclosure of audit leaders. These sanctions, which include censures, fines totaling $130,000, and remedial undertakings, underscore the PCAOB's commitment to enforcing compliance with its rules and standards.
the U.S. Department of Labor has intervened in response to alarming findings of exploitative child labor practices at a Morristown manufacturing facility. Tuff Torq Corp., a prominent manufacturer of outdoor power equipment components, has been compelled to reckon with the consequences of its actions following investigations revealing egregious violations of federal labor laws.
Trafigura Beheer B.V. (Trafigura), a renowned commodities trading company headquartered in Switzerland, has pleaded guilty to charges stemming from a foreign bribery scheme. The plea deal, announced today, entails Trafigura paying over $126 million to resolve an extensive investigation conducted by the U.S. Justice Department into violations of the Foreign Corrupt Practices Act (FCPA).
Stifel Independent Advisors, LLC (SIA) has agreed to a settlement proposed by the Financial Industry Regulatory Authority (FINRA) regarding alleged repeated compliance failures. The settlement, outlined in a Letter of Acceptance, Waiver, and Consent (AWC), aims to address violations related to the firms' supervision of transactions involving non-traditional exchange-traded products (NT-ETPs).
Acting Comptroller of the Currency Michael J. Hsu delivered a thought-provoking address at CBA LIVE 2024, hosted by the Consumer Bankers Association, focusing on the pivotal role of fairness in enhancing compliance risk management within the banking sector. The event, held under the theme "For the People," underscored the imperative of prioritizing the needs of individuals and communities amidst evolving regulatory landscapes and technological advancements.
The European Commission is poised to launch investigations into tech giants Apple, Meta Platforms (formerly Facebook), and Alphabet's Google over potential violations of the European Union's Digital Markets Act (DMA), according to Reuters and sources familiar with the matter.
In response to the European Union's Digital Markets Act (DMA) coming into force, Google is making significant alterations to its operations. The move aims to ensure compliance with the new regulations and marks a pivotal moment in the tech giant's approach to business in the European Economic Area (EEA).