Compliance & Ethics

Robinhood may have expected a slam dunk with its new prediction markets hub, but now it’s drawing full-court press from Massachusetts regulators. The popular trading app is under investigation by the office of Massachusetts Secretary of the Commonwealth Bill Galvin, after launching a new feature that lets users bet on the outcomes of events—starting with NCAA March Madness basketball games. The hub, which went live on March 17, invites users to buy and trade contracts tied to the likelihood of specific outcomes, from sports scores to Fed interest rate decisions.

Live Nation Entertainment, the powerhouse behind Ticketmaster, has agreed to a $20 million settlement over accusations made by its shareholders. The settlement, still subject to court approval, comes as part of a class action lawsuit that claims the company misled investors about its competition strategies and potential antitrust risks—allegations that have been hanging over the company like a storm cloud.

The Financial Crimes Enforcement Network (FinCEN) has just issued an interim final rule that revises key aspects of the Corporate Transparency Act. As of now, U.S. companies and U.S. persons will no longer need to report their beneficial ownership information (BOI) to FinCEN. Instead, the new focus is squarely on foreign companies doing business in the United States, with a clearer framework that streamlines compliance requirements.

UK competition watchdog fines BT, IMG, ITV, and BBC £4.2M for illegal coordination of freelancer pay rates in sports production. Sky avoided penalties as a whistleblower, while the investigation revealed deliberate wage suppression for freelancer workers such as camera operators, sound staff, and production directors.

The UK’s Serious Fraud Office (SFO), France’s Parquet National Financier (PNF), and the Office of the Attorney General of Switzerland (OAG) have announced the creation of a new alliance aimed at strengthening efforts to tackle international bribery and corruption. This new partnership, unveiled at a press event in London today, marks a significant step forward in global cooperation to combat financial crime.

Hino Motors Ltd., a subsidiary of Toyota, has been sentenced to pay over $1.6 billion in penalties for its role in a widespread emissions fraud scheme. This sentencing, handed down today by U.S. District Court Judge Mark A. Goldsmith, comes after Hino Motors pleaded guilty to submitting false emissions data, deceiving both U.S. regulators and consumers over the course of nearly a decade.

The Office of the Comptroller of the Currency (OCC) is back in action this month, rolling out a series of enforcement decisions that highlight the agency’s ongoing commitment to ensuring the health and safety of financial institutions. The agency’s latest actions range from enforcing accountability at individual banks to taking decisive steps against those who breach trust.