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Bundeskartellamt fines steel manufacturers for quarto steel plate cartel

December 13, 2019
The Bundeskartellamt has imposed fines totalling around 646 million euros on Ilsenburger Grobblech GmbH, thyssenkrupp Steel Europe AG and voestalpine Grobblech GmbH as well as three individuals responsible for exchanging information on and agreeing certain price supplements and surcharges for quarto plates in Germany.

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U.S. fines HSBC’s private Swiss banking arm

December 12, 2019
HSBC Holdings’s Swiss private banking arm has agreed to fork over nearly $200 million in unpaid taxes, improper fees and fines after confessing to helping Americans evade federal taxes, the U.S. Department of Justice announced.

France fines Morgan Stanley $22 million for manipulating sovereign bonds

December 10, 2019
France’s markets watchdog AMF said on Tuesday it has fined U.S bank Morgan Stanley (MS.N) 20 million euros ($22 million) for manipulation of sovereign bonds.

Jefferies to pay nearly $4 million fine for improper handling of ADRs

December 10, 2019
The Securities and Exchange Commission announced that broker-dealer Jefferies LLC will pay nearly $4 million to settle charges of improper handling of “pre-released” American Depositary Receipts (ADRs).

Hungary imposed 1.5 euros fine on alarm equipment companies

December 7, 2019
Hungarian Competition Authority determined that the distributor of Paradox security products (alarm systems and equipment), Paradox Security Systems (Bahamas) Ltd., and its distributors in Hungary, Power Biztonságtechnikai Kereskedelmi Kft. and Trióda Biztonságtechnika Zrt., had restricted the competition in relation to these products for almost 10 years.

SEC charges Telefonaktiebolaget LM Ericsson with FCPA violations

December 7, 2019
The Securities and Exchange Commission announced that Sweden-based Telefonaktiebolaget LM Ericsson was charged with engaging in a large-scale bribery scheme involving the use of sham consultants to secretly funnel money to government officials in multiple countries.

SEC charges Iconix Brand Group and former top executives with accounting fraud

December 7, 2019
The Securities and Exchange Commission charged brand-management company Iconix Brand Group Inc. and three of its former top executives with fraud.

Hungary's competition watchdog slaps $4 million fine on Facebook

December 7, 2019
The Hungarian Competition Authority (GVH) imposed a 1.2 billion Hungarian forint (4 million U.S dollars) fine on Facebook.

Deutsche Bank accepts $5.5 million fine as money laundering probe closes

December 7, 2019
The Frankfurt public prosecutor's office has closed investigations into two employees of Deutsche Ban in the so-called Regula proceedings due to lack of sufficient suspicion in accordance with the German Code of Criminal Procedure.

Coles to pay Norco dairy farmers around $5.25 million following ACCC investigation

December 6, 2019
Coles Group Limited will pay Norco Co-operative Limited around $5.25 million for distribution to its dairy farmer members.
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