Enforcement & Sanctions Weekly Digest: 24 – 28 June 2024

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Enforcement Actions

European Union:
t+ Cooper's acquisition of Viatris' over-the-counter business approved, with divestitures to ensure market competition.
t+ Microsoft sent a Statement of Objections over possibly abusive tying practices regarding Teamsec.
t+ International Flavors & Fragrances fined u20ac15.9 million for deleting WhatsApp messages during an antitrust inspection.
France:
t+ CMA CGM Group's acquisition of Altice Media approved, subject to conditions.
India:
t+ Securities and Exchange Commission (SESC) filed a petition against Global Investment Lab Co. Ltd. over unregistered public offerings.
Mexico:
t+ COFECE fined the Mexican Mezcal Quality Regulatory Council over MS$4 million for denying certification services to mezcal producers.
Russia:
t+ Central Bank of Russia found market manipulation in transactions involving bonds of PJSC Leasing Company Europlan.
t+ Federal Antimonopoly Service (FAS) fined PAO Sberbank for improper advertising of a deposit.
United Kingdom:
t+ Financial Conduct Authority (FCA) fined and banned SVS Securities executives for mismanaging investments.
United States:
t+ Federal Trade Commission (FTC) finalized an order against Avast, banning it from selling or licensing web browsing data for advertising.
t+ Environmental Protection Agency (EPA) fined Carlisle Construction Materials for unlawful filling of wetlands.
t+ FTC action led to a sweepstakes ban for three individuals who ran a massive scheme that cost consumers millions.

Key Sanctions

European Union:
t+ Council issued a statement on behalf of the EU on the alignment of certain countries with restrictive measures in view of the situation in Ukraine.
t+ Council adopted the 14th package of economic and individual restrictive measures against Russia and those who perpetuated the war of aggression against Ukraine.
United States:
t+ Office of Foreign Assets Control (OFAC) sanctioned 50 entities and individuals that constituted multiple branches of shadow banking network moving billions for Iran's military.

Compliance Tips

Regularly review and update compliance policies.
Conduct internal audits to ensure adherence to regulations.

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