Subject to Inquiry

Subject to Inquiry


Government Investigations and White Collar Litigation Group

Tag Archives: settlement

Enforcement and Prosecution Policy and Trends

SEC Announces Settlement with Investment Advisory Firm Regarding Alleged Failure to Disclose Costs to Investors

On July 14, 2016, the Securities and Exchange Commission announced the settlement of an enforcement action against RiverFront Investment Group (“RiverFront”), an investment advisory firm, for failing to properly prepare clients for transaction costs. At issue is a wrap fee program, in which a subadviser uses a sponsoring brokerage firm to execute their trades on… Continue Reading
Enforcement and Prosecution Policy and Trends, Financial Institution Regulation

National Mortgage Servicer Pays CFPB and FTC $63 Million to Settle Claims Over Alleged Servicing Violations

 On April 21, 2015, the Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC) announced a joint enforcement action and joint order with a national mortgage servicer. The CFPB and FTC alleged that the servicer failed to honor loan modifications transferred from other servicers and insisted that borrowers pay their original, higher monthly… Continue Reading
Enforcement and Prosecution Policy and Trends

SFO civil settlement with Macmillan: cooperation and cost shifting assists the SFO

At a time when many are questioning the SFO's budget and ability to fund and pursue multiple large scale corruption investigations, the settlement with Macmillan demonstrates that SFO investigations can reach an outcome in a timely and cost effective manner. The model followed for the Macmillan investigation is likely to be replicated for investigations into offences under the Bribery Act.… Continue Reading

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