GOOD? UHG lawsuit, Gen Z hates AI, Disney vs. FCC, anti-pervert glasses

G

UnitedHealth shareholders sue company over ‘corporate governance failures on a historic scale’

UBS fined record $125 million for money laundering violations

$125 million civil penalty to the U.S. Treasury's Financial Crimes Enforcement Network (FinCEN) for willful violations of the Bank Secrecy Act (BSA), the primary U.S. anti-money laundering law.

FinCEN said the fine is the largest ever assessed against a broker-dealer for BSA violations.

The settlement marks FinCEN's second enforcement action against UBS Financial Services, a subsidiary of the Swiss bank UBS. The firm had previously paid a $14.5 million penalty in December 2018 for similar failures, including inadequate monitoring of foreign currency wire transfers.

Despite assurances to regulators that it would fix the underlying problems, the firm subsequently failed to monitor more than 50,000 foreign currency wires with a combined value exceeding $10 billion.

SEC launches new enforcement unit aimed at accounting fraud

How??

The unit will be housed within the SEC’s Division of Enforcement and staffed by both attorneys and accountants with specialized skills related to financial reporting, accounting, and auditing in securities regulation, according to the announcement.

The announcement is “a little surprising” given the SEC’s current deregulatory focus under Chair Paul Atkins, Rebecca Fike, a partner in Reed Smith’s regulatory and enforcement group, told CFO Dive.

Andreessen Horowitz Focus of DOJ Probe Over Board Directors