Receive our daily newsletter

Investment Firm Fined $2.9 Billion for Oversight Failures

An investment firm was fined $2.9 billion by several domestic and foreign authorities, including the Federal Reserve Board, the DOJ, the SEC, the Financial Conduct Authority and the Bank of England Prudential Regulation Authority, for its failure to (i) properly oversee its operations, (i) maintain internal controls and (iii) conduct proper risk management, with regard to its employees' involvement in improper payments to foreign officials.

Premium Content

Available only to Cabinet Premium subscribers.

 

Tags

Sub-Activity: 
Internal Controls on Financial Reporting, Fraud
Body of Law: 
Jurisdiction: 
Affected Jurisdiction: 
Sub-Author: 
Bank of England, Financial Conduct Authority