Category: _enforcement

Recent Discover Lawsuits Provide Compliance Lessons (Mannacio v. Discover Financial Services, et al., 23-cv-06788)

In September, a class action lawsuit (Mannacio v. Discover Financial Services, et al., No. 23-cv-06788 (N.D. Ill.)) was filed against Discover Financial Services (“Discover”) alleging Discover and certain current and/or former executives violated the Securities Exchange Act of 1934. Specifically, the class action complaint alleged that the defendants made false and/or misleading statements and/or failed to disclose that: (i) Discover…

Popular “AI Hub” Discord Taken Down Following Copyright Complaints

In just a few months, “AI Hub” became a massively popular Discord server with over half a million members. While copyright infringement was strictly forbidden, not all users stuck to the rules. This previously raised the attention of the RIAA, and now appears to have caused the server’s downfall after it was suddenly shut down. Artificial intelligence is booming. Dozens…

FCA calls on insurers to take action as it publishes latest fair value data

In letters sent to all insurance firms, the regulator reminded them of its expectations to make sure they’re checking their products are providing fair value to their customers. The FCA also identified further evidence that some Guaranteed Asset Protection (GAP) products may be failing to provide fair value to customers. This comes as the FCA publishes its latest insurance Value…

FCA sets out initial findings on bank account access and closures

The information supplied by banks, building societies and payment companies suggests that no firm closed an account between July 2022 and June 2023 primarily because of a customer’s political views. The Payment Accounts Regulations ban banks or building societies discriminating on this basis. The FCA will be doing further work with firms to verify the data and to better understand…

Intel-linked UK official pushing censorship of Russell Brand -The Grayzone

The author of letters to social media companies demanding the financial punishment of Russell Brand is a British lawmaker implicated in London’s war on Covid-19 and Ukraine dissenters. Her husband was a commander in the Army’s psy-ops division. Allegations of sexual impropriety and abuse by comedian and podcaster Russell Brand by the British media prompted YouTube to demonetize the star’s…

US sanctions 5 Turkish firms in broad Russia action on over 150 targets

WASHINGTON, Sept 14 (Reuters) – The Biden administration on Thursday imposed sanctions on five Turkish companies and a Turkish national, accusing them of helping Russia evade sanctions and supporting Moscow in its war against Ukraine. The designations, first reported by Reuters, target shipping and trade companies accused of helping repair sanctioned vessels tied to Russia’s defense ministry and helping the transfer…

Two founders behind Russian crypto mixer Tornado Cash charged by U.S. federal courts

The two founders behind Tornado Cash, a Russian cryptocurrency mixing service, have been charged by the U.S. Attorney’s Office for the Southern District of New York, according to a statement on Wednesday. Roman Storm and Roman Semenov were officially charged with conspiracy to commit money laundering, conspiracy to commit sanctions violations and conspiracy to operate an unlicensed money transmitting business,…

Former NY mayor Rudy Giuliani finds lawyer in Georgia, surrenders to jail

Former New York City mayor Rudy Giuliani found himself a local lawyer in time to turn himself in to Georgia authorities on Wednesday, two days before the deadline imposed by Fulton County District Attorney Fani Willis. The once-respected federal prosecutor-turned-Trump lackey arrived at the Fulton County Jail to be photographed, fingerprinted, and booked on a raft of felony charges over…

Israeli pharma company Teva to pay $225M for cholesterol drug price-fixing; Glenmark to pay a $30 million criminal penalty

WASHINGTON (AP) — The generic drug maker Teva Pharmaceuticals agreed Monday to pay $225 million to settle price-fixing charges related to sales of a major cholesterol-lowering drug. The U.S. Department of Justice said the agreement also requires Teva to divest its business making and selling the drug, pravastatin, a generic version of the brand-name medicine Pravachol. Another generic drug maker,…

Mother of 6-year-old Virginia boy who shot teacher faces US gun charges

VIRGINIA – The mother of a 6-year-old Virginia boy who shot and wounded his elementary school teacher was charged on Monday with two US firearms felonies, and her lawyer said she will plead guilty to both offences under a deal with federal prosecutors. Deja Taylor was charged with being a user of illegal drugs in possession of a gun and…

The Mississippi police officer who shot an 11-year-old is now suspended without pay

Enlarge this image The Mississippi police officer who shot and wounded the unarmed boy has been suspended without pay during an investigation, a city official said. Here, this December 2022 photo provided by Nakala Murry shows her 11-year-old son Aderrien Murry, who was shot and wounded by an Indianola, Miss., Police Department officer on May 20, 2023, during a domestic…

ASIC bans Sydney mortgage broker for six years

ASIC has banned a Sydney mortgage and finance broker for six years from engaging in credit activities after allegedly making false disclosures and mishandling home loan applications among other offences. The broker, Qingshan Yu, was also banned from controlling a credit business and performing any function in relation to carrying on a credit business while the regulator cancelled the Australian…

Pakistan’s ex-PM Imran Khan arrested

Following are details of the cases against former Pakistani Prime Minister Imran Khan, who was arrested on Saturday after a court sentenced him to three years in prison for illegally selling state gifts. Khan has denied wrongdoing. An Islamabad court issued the arrest warrant after convicting the cricket star-turned-politician, who remains the leading opposition figure despite his removal. Police moved…

Why was Pakistan’s former Prime Minister Imran Khan arrested?

Pakistan’s former Prime Minister Imran Khan has been arrested from his residence in Lahore after he was handed a three-year prison sentence in a corruption case. After convicting Khan, the Islamabad court issued an arrest warrant which says he is to serve his sentence in the Rawalpindi central jail in Pakistan’s Punjab province, with police in Lahore quickly moving to…

Judge says she’s not ready to accept Hunter Biden’s plea deal, which tried to get him immunity for multiple crimes

The judge in the Hunter Biden case said Wednesday she is not ready to accept the plea deal struck between the president’s son and the Justice Department, and asked both parties to submit additional briefs and return to the court on a future date. Judge Maryellen Noreika demanded that the lawyers from both sides make clear that the deal does…

Amazon agrees to $25 million fine for Alexa children privacy violations, Ring subsidiary also facing $5 million fine

The U.S. Justice Department and the Federal Trade Commission (FTC) announced that Amazon has agreed to pay a $25 million fine to settle alleged children’s privacy laws violations related to the company’s Alexa voice assistant service. Amazon has offered Alexa voice-activated products and services targeted at children under 13 years old since May 2018. In May 2023, the Federal Trade…