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Roche Diagnostics and Humana settle $12.5 million Medicare fraud lawsuit INDIANAPOLIS STAR Roche, an Indianapolis-based medical supply company, and Humana, a Louisville-based health insurer, paid $12.5 million to settle a lawsuit after a whistleblower accused them of defrauding a government insurance program, according to a news release. read more »

Are share-trading apps a safe way to play the markets? THE GUARDIAN

Clover Health shares dip as SEC looks into short-seller allegations REUTERS U.S. regulators are following up on a critical report about Clover Health Investments Corp by short-selling specialist Hindenburg Research and have told the insurance company to preserve any relevant documents. read more »

McKinsey reaches $573 million settlement with US states over role in opioid crisis REUTERS McKinsey & Co, the consulting firm, has agreed to pay $573 million to resolve investigations by most U.S. states over its alleged role in “turbocharging” sales of opioids, fueling a nationwide epidemic. read more »

GameStop frenzy prompts Yellen to call meeting with SEC, Fed POLITICO Treasury Secretary Janet Yellen will meet with key financial regulatory agencies to scrutinize recent price surges in GameStop stock and other companies, the latest move by policymakers to respond to market maneuvers tied to a group of investors on Reddit. read more » How Rich Hospitals Profit From Patients in Car Crashes NY TIMES

Anyone Can Manipulate the Market. Here’s How to Fix That NY TIMES

The Silicon Valley Start-Up That Caused Wall Street Chaos NY TIMES Robinhood pitched itself to investors as the antithesis of Wall Street. It didn’t say that it also entirely relies on Wall Street. This past week, the two realities collided. read more » Does Robinhood owe too much to its rich backers? THE GUARDIAN

SEC issues warning as GameStop short-selling war resumes REUTERS The U.S. Securities and Exchange Commission waded into the battle between small investors and Wall Street hedge funds on Friday, warning both brokerages and the pack of social media traders that it was closely monitoring potential wrongdoing.

Wall Street Insider Turned Tough Market Cop: Biden's Pick to Head SEC NPR

Former Insys exec John Kapoor gets 5 1/2 years for opioid scheme CNBC John Kapoor, 76, the former chairman of Insys Therapeutics, was sentenced to five and a half years in prison in Boston’s federal court. A jury found him guilty of racketeering conspiracy last May and prosecutors said his actions helped fuel the opioid crisis.

Attorney General Becerra Announces $40 Million Nationwide Settlement with Apria Healthcare STATE OF CALIFORNIA DEPARTMENT OF JUSTICE

Georgetown University academic Chris Brummer in lead for CFTC chair REUTERS Georgetown University academic Chris Brummer has emerged as the leading candidate to chair the Commodity Futures Trading Commission (CFTC), according to three people with knowledge of the discussions. The White House is expected to make an announcement on that and other financial regulator roles soon, one of the people said. read more »

Gary Gensler, Biden's pick to head SEC, has reputation as tough regulator NBC In nominating Gary Gensler to serve as chairman for the Securities and Exchange Commission, President-elect Joe Biden is likely to please progressives, who have been agitating for more bank oversight after four years of deregulatory policy under President Donald Trump’s SEC pick, Jay Clayton, who stepped down in December.

Biden to name Gary Gensler as U.S. SEC chair REUTERS Gary Gensler will be named chair of the U.S. Securities and Exchange Commission (SEC) by President-elect Joe Biden, said two sources familiar with the matter, an appointment likely to prompt concern among Wall Street firms of tougher regulation.

Boeing agrees to pay $2.5B+ to settle criminal fraud charges over 737 MAX SEATTLE TIMES Boeing has agreed with the U.S. government to pay more than $2.5 billion to defer prosecution and resolve a charge of “criminal misconduct” in its certification of the 737 MAX, the Department of Justice announced Thursday.

Department of Justice sues Walmart over opioid crisis CBS The Justice Department is suing Walmart, alleging the country's largest retailer unlawfully dispensed controlled substances through its pharmacies and helped fuel the nation's opioid crisis.

Luckin Coffee Agrees to Pay $180 Million Penalty to Settle Accounting Fraud Charges SEC

SEC Awards More Than $300,000 to Whistleblower with Audit Responsibilities SEC

Defense Bill Proposes Anti-Money-Laundering Whistleblower Program WSJ A new whistleblower reward program incentivizing the reporting of potential violations of anti-money-laundering laws would be established as part of an annual defense-spending bill that is poised to clear Congress.

SEC Charges the Cheesecake Factory for Misleading COVID-19 Disclosures SEC The Securities and Exchange Commission today announced settled charges against The Cheesecake Factory Incorporated for making misleading disclosures about the impact of the COVID-19 pandemic on its business operations and financial condition. The action is the SEC's first charging a public company for misleading investors about the financial effects of the pandemic.