Alexion Pharmaceuticals agrees to pay $21 million to settle SECcharges of foreign bribes for Soliris to Turkish and Russian officials

The Securities and Exchange Commission today announced that Boston-based pharmaceutical company Alexion Pharmaceuticals Inc. has agreed to pay more than $21 million to resolve charges that it violated the books and records and internal accounting controls provisions of the Foreign Corrupt Practices Act (FCPA). According to the SEC’s order, two Alexion subsidiaries made payments to […]

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SEC issues its largest whistleblower award-$50 Million on Bank of New York Mellon over-charges case. BNY pays $700 million

The US Securities and Exchange Commission has paid its largest-ever whistleblower award $50 million. The Wall Street Journal, which conducted an investigation about the wrongdoing, reported the whistleblower is a trader from Bank of New York Mellon (BKPRC) who alerted the SEC about the bank’s reported pattern of “overcharging big clients on currency trades.” The trader assisted […]

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Securities & exchange Commission orders Morningstar Credit Ratings to pay $3.5 million for conflict of interest violations

The Securities and Exchange Commission today charged New York-based credit rating agency Morningstar Credit Ratings LLC for violating a conflict of interest rule designed to separate credit ratings and analysis from sales and marketing efforts. Morningstar has agreed to pay $3.5 million to settle the charges. The SEC’s order finds that from mid-2015 through September […]

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Herbalife discloses potential $123 million settlement with DOJ and SEC over allegations of bribed in China

Herbalife Nutrition Ltd. said in its recent financial report Thursday that it has “reached an understanding” to pay up to a combined $123 million to settle regulatory investigations by the Securities and Exchange Commission and U.S. Justice Department. Those investigations were about Herbalife’s China business activities and “the adequacy of and compliance with the company’s […]

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Despite COVID-19 crisis Securities & Exchange Commission whistleblower actions and awards mount

Despite the COVID-19 crisis, the Securities & Exchange Commission has continued to increase multi-million dollar awards awards under its Dodd-Frank whistleblower program. Since January 21, 2020, when the CDC confirmed the first case of COVID-19 in the United States, the SEC has issued 12 whistleblower awards totaling approximately $64 million. Some of the highlights of these awards […]

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Securities & Exchange Commission issues $5 million award to whistleblower who reported fraud

The Securities and Exchange Commission today announced a $5 million award to a whistleblower who provided significant information that led to successful enforcement action.  The whistleblower provided critical evidence of wrongdoing, which helped save time and resources in the SEC’s investigation, and the whistleblower suffered a unique hardship as a result of raising concerns internally. […]

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Securities & Exchange Commission awards $2 Million to whistleblower

The Securities and Exchange Commission today announced an award of approximately $2 million to a whistleblower who provided vital information and assistance that substantially contributed to an ongoing investigation.  The whistleblower’s information would have been difficult for the agency to obtain absent the tip. “The whistleblower’s actions in this matter were extraordinary,” said Jane Norberg, […]

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Cardinal Health pays SEC $8 million to end charges its subsidiary paid bribes to Chinese government employed healthcare professionals

Cardinal Health, Inc. has agreed to pay more than $8 million to resolve charges with the SEC that it violated the books and records and internal accounting controls provisions of the Foreign Corrupt Practices Act (FCPA). According to the SEC’s order, Cardinal’s internal accounting controls were not sufficient to detect improper payments made by employees […]

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