The Office of the Comptroller of the Currency (OCC) has wielded its enforcement arm with vigor in April 2024, issuing a slew of actions against national banks, federal savings associations, and individuals affiliated with these institutions. These measures underscore the OCC's commitment to ensuring the soundness and integrity of the banking sector.
Barclays Capital Inc. faces a significant penalty as the Financial Industry Regulatory Authority (FINRA) fines the firm $700,000 for multiple violations. The sanctions come as a result of a series of alleged rule breaches spanning from January 2016 to March 2022, involving failures in disclosure and supervision.
Top executives from the world's leading commodity trading firms convened at the FT Commodities Global Summit in Lausanne, Switzerland, where they collectively pledged a comprehensive overhaul of trading and compliance processes. Against the backdrop of recent bribery and corruption scandals that have rocked the industry, leaders from Vitol, Trafigura, and Gunvor emphasized their commitment to eradicating illicit practices from commodity trading.
The Securities and Exchange Commission (SEC) has announced the conclusion of investigations into five registered investment advisers, resulting in settled charges for violations of marketing rules. Each of the firms implicated has agreed to settle with the SEC and collectively pay $200,000 in penalties.
The Public Company Accounting Oversight Board (PCAOB) has unveiled its 2023 Annual Report, showcasing a year of dynamic initiatives aimed at fortifying investor protection and enhancing audit quality. With a focus on compliance and regulatory enforcement, the report highlights significant milestones achieved in standard setting, inspections, and enforcement actions.
The French Data Protection Authority, CNIL (Commission Nationale de l'Informatique et des Libertés), has levied a hefty fine of €525,000 against HUBSIDE.STORE. The penalty comes as a consequence of the company's flawed commercial prospecting tactics, violating crucial regulations set forth by the GDPR (General Data Protection Regulation) and the French Post and Electronic Communications Code (CPCE).
The Public Company Accounting Oversight Board (PCAOB) has taken decisive action against Deloitte Indonesia and Deloitte Philippines, alongside its recent enforcement measures against KPMG Netherlands, for serious violations of PCAOB rules and quality control standards. This enforcement action targets the widespread improper answer sharing within the firms over a significant period.