United States:
Investment Firm Fined $2.9 Billion For Oversight Failures
27 October 2020
Cadwalader, Wickersham & Taft LLP
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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.
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