Department of Justice Archives

UBS to pay US $1.43 billion for alleged fraud over residential mortgage-backed securities

Jack J. Kelly Department of Justice, Fraud, Mortgage, Securities August 14, 2023

Banking group UBS and many of its U.S.-based affiliates agreed to pay $1.43 billion in penalties to settle a civil action alleging fraud in the sale of residential mortgage-backed securities, the company and the Justice Department said on Monday. The civil action was filed ...Read More

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U.S. regulators warn they already have the power to go after A.I. bias — and they’re ready to use it

Jack J. Kelly Artificial Intelligence, CFPB, CFTC, Consumer Financial Protection Bureau, Department of Justice, Discrimination, DOJ, EEOC April 25, 2023

Four federal U.S. agencies issued a warning on Tuesday that they already have the authority to tackle harms caused by artificial intelligence bias and they plan to use it. The warning comes as Congress is grappling with how it should take action to protect ...Read More

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Investing in a culture of compliance during an economic downturn

Jack J. Kelly Compliance, Department of Justice April 14, 2023

How best can corporate compliance leaders make the case to management that their role is even more vital in a gloomy economic environment? The U.S. economy saw more layoffs in the first quarter of this year than in any other single quarter in more ...Read More

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Discord member details how documents leaked from closed chat group

Jack J. Kelly Department of Justice, White House April 12, 2023

The man behind a massive leak of U.S. government secrets that has exposed spying on allies, revealed the grim prospects for Ukraine’s war with Russia and ignited diplomatic fires for the White House is a young, charismatic gun enthusiast who shared highly classified documents with a group of ...Read More

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Crypto firms poised to spend more on compliance

Jack J. Kelly Compliance, Cryptocurrency, Department of Justice, FTC, Regulation, Regulators, Securities and Exchange Commission January 9, 2023

Crypto shops weary from last year’s sequence of unfortunate events likely have strenuous regulatory calisthenics waiting for them, and executives see compliance costs rising across the board. Why it matters: Regulators’ hawkish stance on the industry signals a coming torrent of enforcement action — one that ...Read More

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U.S. authorities probe FTX collapse, executives’ involvement

Jack J. Kelly Bankruptcy, CFTC, Commodity Futures Trading Commission, Cryptocurrency, Department of Justice, Investigation, SEC, Securities and Exchange Commission November 14, 2022

U.S. prosecutors in New York are probing FTX’s collapse, a source with knowledge of the investigations said, after the crypto exchange filed for bankruptcy protection last week following a rush of customer withdrawals. The Justice Department, Securities and Exchange Commission and Commodity Futures Trading Commission are ...Read More

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