Maxen Power, an energy supplier serving over 10,000 non-domestic customers, has agreed to pay £1.65 million after a recent investigation revealed serious customer service issues. The payment, ordered by energy regulator Ofgem, is in response to the company’s failure to meet industry standards, leaving customers vulnerable to financial difficulties.
Finland’s national postal service, Posti, has been hit with a €2.4 million fine following an investigation into its OmaPosti service. The Finnish Data Protection Ombudsman’s Sanctions Board determined that Posti’s handling of personal data violated GDPR rules, particularly in how it automatically created electronic mailboxes for customers without clear consent. The fine emphasizes the importance of transparency and respect for privacy in today’s digital landscape.
LifeSci Capital, a New York-based firm, has reached a settlement with FINRA following several violations related to its handling of underwriting compensation and its failures in adhering to regulatory filing requirements. The firm, a FINRA member since 2014, has agreed to a settlement that includes a $900,000 fine, censure, and a commitment to improve its supervisory systems to better comply with securities regulations.
Brent Wible, Chief Counselor for the Department of Justice’s (DOJ) Criminal Division, delivered a keynote address recently at the American Conference Institute’s (ACI) International Conference on the Foreign Corrupt Practices Act (FCPA). Speaking to an audience of legal experts, government officials, and corporate leaders, Wible reflected on the DOJ’s remarkable achievements in 2024 and outlined its continued commitment to combatting global corruption.
McKinsey & Company Africa (Pty) Ltd (McKinsey Africa) will pay $122 million to resolve charges of bribing South African government officials in a years-long scheme. The U.S. Department of Justice (DOJ) announced the settlement as part of a coordinated effort with South African authorities, underscoring the growing international push against corporate corruption.
The Commodity Futures Trading Commission (CFTC) announced its Fiscal Year 2024 enforcement results, setting a new benchmark with an unprecedented $17.1 billion in monetary relief and sanctions. This record-breaking figure, which includes $2.6 billion in civil penalties and $14.5 billion in disgorgement and restitution, underscores the agency’s dedication to maintaining market integrity and enforcing compliance across an increasingly complex financial landscape.
The European Banking Authority (EBA) has just launched a public consultation on a set of proposed regulations. These rules, aimed at crypto-asset service providers (CASPs), focus on the appointment of a central contact point (CCP) in host Member States to help ensure these businesses comply with local anti-money laundering (AML) and counter-terrorism financing (CFT) regulations.