Crime : Page 119

BNP Paribas to pay $90 million penalty for attempted manipulation in ISDAFIX case

August 29, 2018 The Commodity Futures Trading Commission (CFTC) issued an Order today filing and settling charges against BNP Paribas Securities Corp.(BNP Paribas or the Bank) for attempted manipulation of the ISDAFIX benchmark and requiring BNP Paribas to pay a $90 million civil monetary penalty. BNP Paribas’ principal office is located in New York, New York.

SEC charges Moody’s with internal controls failures and ratings symbols deficiencies

August 29, 2018 The Securities and Exchange Commission (SEC) announced that Moody’s Investors Service has agreed to pay a total of $16.25 million in penalties to settle charges involving internal control failures and failing to clearly define and consistently apply credit rating symbols.

Heinz to pay $2.25 million penalty in Australia over misleading health claim

August 28, 2018 The Federal Court of Australia has ordered H.J. Heinz Company Australia to pay penalties totalling $2.25 million for making a misleading health claim that its Little Kids Shredz products were beneficial for young children.

Legg Mason charged with violating Foreign Corrupt Practices Act

August 28, 2018 The Securities and Exchange Commission SEC) announced that Legg Mason Inc. will pay over $34 million to resolve an SEC charge that the company violated the Foreign Corrupt Practices Act (FCPA) in a scheme to bribe Libyan government officials.

Former Swiss bank executive pleads guilty to role in billion-dollar money laundering scheme

August 23, 2018 The former managing director and vice chairman of a Swiss bank pleaded guilty today for his role in a billion-dollar international scheme to launder funds embezzled from Venezuelan state-owned oil company Petróleos de Venezuela, S.A. (PDVSA).

Merrill Lynch settles SEC charges of undisclosed conflict in advisory decision

August 21, 2018 The Securities and Exchange Commission (SEC) announced that Merrill Lynch, Pierce, Fenner & Smith has agreed to pay approximately $8.9 million to settle charges that it failed to disclose a conflict of interest arising out of its own business interests in deciding whether to continue to offer clients products managed by an outside third-party advisory firm.

ECB fines France's Credit Agricole over capital reserves

August 21, 2018 The European Central Bank said (ECB) it had fined French lender Credit Agricole a total of 4.8 million euros ($5.5 million) over past irregularities in the way it declared its capital reserves.

KPMG fined £2.1m over Ted Baker audit

August 21, 2018 The Financial Reporting Council (FRC) has slapped a £2.1m fine on accounting giant KPMG for the way it handled its auditing of fashion retailer Ted Baker.

Largest ever VAT evasion scheme discovered in Germany, 100,000 tons smuggled from Serbia

August 17, 2018 Investigators have uncovered Germany\'s largest-ever illegal value-added tax (VAT) evasion scheme, the Berlin State Prosecution Office has announced.

Chinese company fined half million for misleading on quake strengthening products

August 17, 2018 A company importing steel from China to New Zealand has been fined $540,000 for misleading customers about products used for earthquake strengthening.

Citigroup to pay more than $10 million for books violations and inadequate controls

August 16, 2018 The Securities and Exchange Commission (SEC) announced that Citigroup has agreed to pay $10.5 million in penalties to settle two enforcement actions involving its books and records, internal accounting controls, and trader supervision.

Zürcher Kantonalbank reaches agreement with U.S. Department of Justice

August 15, 2018 The U.S. Department of Justice’s has concluded investigation into the Zürcher Kantonalbank’s legacy business with US clients with a Deferred Prosecution Agreement (DPA), pursuant to which it will pay $98.5 million. The agreement will have no negative impact on the bank’s 2018 financial results.