Regulation & Compliance: Page 12
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xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Top CEOs Urge Congress to Save Small Firms
Leaders of some of the largest U.S. companies have called on Congress to include long-term support for small businesses in the next COVID-19 relief package to save them from potential financial ruin.In a letter to the leaders of the House and Senate, more than 100 executives said another round of...
By Matthew Heller • Aug. 4, 2020 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
J&J Speeds Up Timeline for Coronavirus Vaccine
Playing catch-up in the race to develop a coronavirus vaccine, Johnson & Johnson said Thursday it now expects to begin a late-stage study of its vaccine candidate in September.The phase III study would follow the phase I human trial that J&J plans to begin this week with more than 1,000 p...
By Matthew Heller • July 16, 2020 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
High Court to Review Fannie-Freddie Dispute
The U.S. Supreme Court has agreed to review whether the federal government can continue to collect hundreds of billions of dollars in quarterly dividends from Fannie Mae and Freddie Mac.The two mortgage giants have operated under the conservatorship of the Federal Housing Finance Agency since the...
By Matthew Heller • July 10, 2020 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Alexion Fined $21M in Foreign Corruption Probe
Biotech firm Alexion has agreed to pay more than $21 million to settle charges that it bribed Turkish and Russian officials to secure favorable treatment for its main drug.The U.S. Securities and Exchange Commission said the alleged misconduct lasted from 2010 to 2015 and unjustly enriched Alexio...
By Matthew Heller • July 3, 2020 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Cisco Sued for Discrimination Based on Caste
In an unusual case of discrimination by caste, the state of California has alleged two managers at Cisco Systems harassed a fellow Indian-American employee because he comes from the lowest social group in India’s caste system.The suit filed on Tuesday by California’s Department of Fair Employment...
By Matthew Heller • July 2, 2020 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Telegram to Return $1.2B to ICO Investors
Messaging startup Telegram Group has agreed to return more than $1.2 billion to investors to settle allegations that it illegally sold digital tokens to raise money for a blockchain project.The settlement came three months after a court granted the U.S. Securities and Exchange Commission’s reques...
By Matthew Heller • June 29, 2020 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
DoJ Proposes Weakening Tech Immunity Law
The U.S. Department of Justice has recommended changes to the law that protects online platforms from liability for content posted by their users and allows them to moderate that content.In unveiling the reform package, the DoJ said the time was “ripe to realign the scope of Section 230 [of the C...
By Matthew Heller • June 18, 2020 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
EU Launches Probes of App Store, Apple Pay
The European Commission has opened antitrust investigations of two Apple services, citing concerns that the App Store and Apple Pay stifle competition.The App Store probe will focus on music streaming and e-books/audiobooks, following complaints by Spotify and e-reader company Kobo over the commi...
By Matthew Heller • June 16, 2020 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Former eBay Employees Accused of Roach Attack
Six former eBay employees have been accused of sending a box of live cockroaches and a pig fetus to a Massachusetts couple as part of a campaign to harass them for publishing a newsletter critical of the online auction site.James Baugh, eBay’s former senior director of safety & security, and ...
By Matthew Heller • June 16, 2020 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Chicken Producer Execs Charged With Price Fixing
Four top executives with two major U.S. chicken producers have been charged with conspiring to fix prices and rig bids for chicken products sold to grocers and restaurants.The grand jury indictment announced Wednesday by the Department of Justice are the first in a still-open investigation involv...
By Matthew Heller • June 4, 2020 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Aviron Pictures Founder Accused of $25M Fraud
The founder and former CEO of movie distributor Aviron Pictures has been charged with a $25 million fraud for illegally transferring money from a BlackRock investment fund to a sham company and using some of it to support his lavish lifestyle.The U.S. Securities and Exchange Commission said Willi...
By Matthew Heller • May 26, 2020 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Former KPMG Auditors Charged With Exam Cheating
Three former KPMG audit partners have settled charges that they cheated on internal training exams by improperly sharing answers.The U.S. Securities and Exchange Commission said Timothy Daly received answers to a test on lease accounting from Michael Bellach while John Donovan supported exam shar...
By Matthew Heller • May 19, 2020 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Moderna Stock Soars on COVID Vaccine Results
Shares in Moderna jumped on Monday after the biotech firm announced promising results from the first coronavirus vaccine to be tested in people.Moderna has been working on its mRNA-1273 drug with the National Institute of Allergy and Infectious Diseases, launching an early-phase study on March 16...
By Matthew Heller • May 18, 2020 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
SEC Questions COVID Drug Claims of Biotechs
The U.S. Securities and Exchange Commission has temporarily halted trading in the shares of three biotech companies because of concerns over the accuracy of statements they have made about a drug candidate for treating COVID-19.Houston-based CNS Pharmaceuticals and WPD Pharmaceuticals of Vancouve...
By Matthew Heller • May 5, 2020 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
SEC Accuses Praxsyn of Virus-Related Fraud
The U.S. Securities and Exchange Commission has brought its first coronavirus-related fraud case, alleging Florida health-care company Praxsyn made “blatantly false” claims that it had secured a supply of N95 masks.Praxsyn’s share price doubled after it issued a press release on Feb. 27 claiming ...
By Matthew Heller • April 29, 2020 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Moderna Gets $483M to Fund Corona Vaccine
Biotech firm Moderna Inc. has gotten a boost in the race to develop a novel coronavirus vaccine, securing as much as $483 million in U.S. government funding to cover advancing its candidate drug through clinical testing.The Cambridge, Mass.-based company said Thursday that the Biomedical Advanced...
By Matthew Heller • April 17, 2020 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Airlines Accept Terms for Virus Relief Grants
The Payroll Support Program for U.S. airlines appears to have gotten off the ground as several carriers announced they had reached agreements with the Treasury Department for billions of dollars in grants.The $25 billion program is a special carveout for the airline industry from the $2 trillion ...
By Matthew Heller • April 15, 2020 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Airlines Meet Deadline for Payroll Grant Program
U.S. airlines including American Airlines, Delta Air Lines, and JetBlue Airways met Friday’s deadline to apply for part of a $25 billion payroll grant program aimed at helping carriers weather the economic storms of the coronavirus crisis.The program is a special carveout for the airline industry...
By Matthew Heller • April 3, 2020 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
GM Announces Ventilator Deal as Trump Fumes
President Donald Trump used the Defense Production Act to order General Motors to manufacture ventilators for coronavirus patients even though the automaker had already announced a partnership to do so.Trump’s order on Friday followed a barrage of tweets in which he berated GM for “wasting time” ...
By Matthew Heller • March 30, 2020 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Virus Relief Bill Targets $350B for Small Businesses
The historic $2 trillion emergency relief bill approved by the U.S. Senate includes a $350 billion loan program aimed at helping small businesses weather the economic storm from the coronavirus.CNBC said the Paycheck Protection Program could be a “potential lifeline” for small businesses though a...
By Matthew Heller • March 26, 2020 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Virus Expected to Slam Retail, Restaurant Sales
Credit risks to the global retail sector have increased dramatically as a result of the coronavirus pandemic, with segments such as casual dining and mall-based stores particularly vulnerable, according to S&P Global Ratings.The rating agency said in a report that it expects to take rating ac...
By Matthew Heller • March 24, 2020 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Fed Expands Asset Purchases to Boost Markets
The U.S. Federal Reserve stepped up its efforts to shore up financial markets on Monday, announcing it will expand asset buying under its “quantitative easing” program and move for the first time into purchasing corporate debt.The Financial Times said the Fed, which also unveiled a program to sup...
By Matthew Heller • March 23, 2020 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Senate GOP Unveils $1T Virus Stimulus Package
Bipartisan discussions are set to begin Friday on Capitol Hill after Senate Republicans introduced a $1 trillion emergency economic aid proposal that includes direct cash payments to Americans.Senate Majority Leader Mitch McConnell called the plan “a bold legislative proposal” that will deliver “...
By Matthew Heller • March 20, 2020 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Trump Signs Virus Relief Bill With Paid Sick Leave
President Donald Trump has signed a coronavirus relief bill including paid leave benefits and credits that count against employers’ payroll tax to offset the cost.The Families First Coronavirus Response Act, which the congressional Joint Committee on Taxation estimates will cost $104 billion, wen...
By Matthew Heller • March 19, 2020 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
U.S. Dollar Surge Continues on Virus Fears
Investors continued to flock to the safe haven of the U.S. dollar on Thursday, sending several other currencies to multi-year lows.As CNBC reports, demand for the dollar has been boosted by concerns about the economic fallout from the coronavirus despite recent steps by world central banks to eas...
By Matthew Heller • March 19, 2020
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