The Securities and Exchange Commission (SEC) has charged Nicholas Bowerman, a former finance director at CIRCOR International Inc., with accounting fraud. The charges, announced on September 5, 2024, allege that Bowerman's actions led to misleading public statements about CIRCOR's financial performance from 2019 through 2021.
RTX Corp, formerly known as Raytheon Technologies, has agreed to pay a $200 million fine to settle allegations of violating U.S. export laws. The aerospace and defense giant reportedly exchanged sensitive data and products with prohibited countries, most notably China, according to U.S. State Department records released Thursday.
Glenmark Pharmaceuticals Inc. USA has agreed to pay $25 million to resolve allegations of violating the False Claims Act. The settlement, announced Wednesday by the U.S. Department of Justice, stems from accusations that the New Jersey-based company engaged in price-fixing of a popular generic cholesterol medication.
Three New Jersey-based financial firms have found themselves in hot water with the Securities and Exchange Commission (SEC). The firms, collectively managing millions in client assets, have been charged with violating whistleblower protection rules - a crucial safeguard in the complex world of financial services.
The US Department of Justice (DOJ) has taken a major step forward in its investigation into potential antitrust violations by Nvidia. According to a Bloomberg report, the DOJ has issued subpoenas to Nvidia and other companies, seeking evidence that Nvidia may be engaging in anticompetitive practices around its dominant position in the AI computing market.
The Securities and Exchange Commission (SEC) announced today that it has charged six major credit rating agencies with significant failures in maintaining and preserving electronic communications. The firms have admitted to wrongdoing and agreed to pay a combined total of over $49 million in penalties to settle the charges.
In a world where financial headlines often focus on regulations and crises, the nuances of bank supervision often remain under-appreciated. However, Acting Comptroller of the Currency Michael Hsu’s recent remarks at the Joint European Banking Authority and European Central Bank Conference shed light on the vital yet understated role of bank supervision, especially as the financial landscape grows increasingly complex.