Florida Department of Children and Families Agrees to Pay $17.5 Million to Resolve False Claims Act Liability in Connection with SNAP Quality Control

DOJ

The Florida Department of Children and Families (FDCF) has agreed to pay to the United States $17,500,000 to resolve allegations that it violated the False Claims Act in its administration of the U.S. Department of Agriculture’s (USDA) Supplemental Nutrition Assistance Program (SNAP). Until 2008, SNAP was known as the Food Stamp Program. read more »

SEC Announces $97 Million Enforcement Action Against TIAA Subsidiary for Violations in Retirement Rollover Recommendations

SEC

The Securities and Exchange Commission today announced that TIAA-CREF Individual & Institutional Services LLC (TC Services), a subsidiary of Teachers Insurance and Annuity Association of America (TIAA), will pay $97 million to settle charges of inaccurate and misleading statements and a failure to adequately disclose conflicts of interest to thousands of participants in TIAA record-kept employer-sponsored retirement plans (ESPs). read more »

U.S. SEC focuses on bank fee conflicts as it steps-up SPAC inquiry - sources

REUTERS

The U.S. securities regulator has ramped-up its inquiry on Wall Street's blank check acquisition frenzy, homing in on potential conflicts of interest created when banks act as underwriters and advisers on the same deal, three people with direct knowledge of the matter told Reuters. read more »

Met police seize nearly £180m of bitcoin in money laundering investigation

THE GUARDIAN

Metropolitan police detectives investigating international money laundering have seized nearly £180m of bitcoin. read more »