L3 Technologies, a big player in military communications systems, has agreed to pay $62 million to settle allegations involving false cost and pricing data submitted in defense contracts. The case highlights the importance of transparency in government contracts, especially when taxpayer dollars are on the line.
Bruna Szego, the Chair of the newly established European Anti-Money Laundering Authority (AMLA), took center stage at the European Anti-Financial Crime Summit (EAFCS) in Dublin last week, unveiling her vision for the future of AMLA and its role in tackling financial crime across the EU.
In the latest wave of FINRA enforcement actions, two firms are facing consequences for serious compliance missteps that have shaken the financial community. Honeycomb Portal LLC, a crowdfunding intermediary, and BTG Pactual US Capital, LLC, a broker-dealer, are each paying the price for lapses in investor protection and money-laundering oversight.
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has imposed an administrative monetary penalty of $249,480.50 on Marouf Management Inc. This penalty, issued on November 4, 2024, follows a compliance examination carried out in 2023, which uncovered significant failures in Marouf’s anti-money laundering (AML) practices.
Swedbank, one of Sweden’s most prominent banks, is facing a fine of approximately €1,148,415.25 (SEK 12,500,000) after a regulatory investigation found significant gaps in its compliance with Sweden's protective security regulations. The fine comes from Finansinspektionen, Sweden's financial supervisory authority, following a detailed probe into the bank’s security practices between July 2022 and January 2024.
As excitement builds for the National Football League’s 2025 season schedule release, the Federal Trade Commission (FTC) is putting the heat on StubHub. The nation’s largest ticket exchange and resale platform is now under the FTC's watch for allegedly misrepresenting ticket prices in violation of the agency’s new transparency rule.
Goldman Sachs has agreed to pay a $1.45 million fine as part of a settlement with FINRA, the industry's self-regulatory body, following multiple reporting failures and supervision lapses between 2020 and 2023. This settlement, which includes a censure, comes after the firm struggled to meet crucial regulatory requirements, notably around the Consolidated Audit Trail (CAT) and trade reporting, exposing gaps in its internal compliance systems.