McKinsey Affiliate to Pay $18 Million for Compliance Failures in Handling of Nonpublic Information

SEC

The Securities and Exchange Commission today announced that an affiliate of McKinsey & Company that offers investment options exclusively to current and former McKinsey partners and employees has agreed to pay an $18 million penalty for compliance failures. The SEC’s investigation found that the affiliate maintained inadequate policies and procedures to prevent McKinsey partners from misusing material nonpublic information they obtained as consultants to public companies and other McKinsey clients while they were simultaneously overseeing the affiliate’s investment decisions. read more »

Seattle Doctor Found Guilty of Fraudulently Obtaining Millions of Dollars from COVID-19 Relief Programs

DOJ

A federal jury convicted a Seattle doctor yesterday of fraudulently seeking over $3.5 million in Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) COVID-19 relief funds. read more »

AG Healey Sues Home Health Agency for Providing Services Without Physician Authorization

MASS GOV

As part of an ongoing effort in Massachusetts to address fraud, waste, and abuse in the home health industry, Attorney General Maura Healey announced a lawsuit against a home health agency for allegedly falsely billing the state’s Medicaid program, MassHealth, for services that were not authorized by a physician and/or not medically necessary. read more »