Regulatory Failures
Conduct Screen Corporate Misconduct
Companies with a documented pattern of regulatory violations across multiple domains — serial OSHA violations, repeated EPA consent decrees, FDA warning letters, or a history of fines suggesting systemic disregard for compliance. Many regulatory penalties are capped by statute (e.g., OSHA's maximum penalty is often ~$16,000 per serious violation), so small dollar amounts do not necessarily mean small violations. The test is the pattern, not the individual incident or penalty size. One violation is alarming, two is very concerning, three or more with the same fact pattern is dispositive. Recency matters — genuine compliance reform should be weighed.
38 companies currently excluded under this screen
Excluded Companies (38 total)
Showing 38 of 38 companies excluded under this screen.
| Ticker | Company | Reason |
|---|---|---|
| 0512.HK | Grand Pharmaceutical Group Limited | Grand Pharmaceutical Group’s major subsidiary, Grand Pharmaceutical China, was fined CNY 136 million (USD 19.2 million) and ordered to disgorge CNY 149 million (USD 21.1 million) in illicit gains by C... |
| 601669 | Power Construction Corporation of China, Ltd. | Power Construction Corporation of China, Ltd. is a state-owned enterprise primarily engaged in the construction of hydropower, thermal power, and other energy infrastructure projects. Sustainalytics' ... |
| ACIW | ACI WORLDWIDE INC | ACI Worldwide, a payment processing company, was fined $25 million by the Consumer Financial Protection Bureau in 2023 for illegally initiating approximately $2.3 billion in unauthorized mortgage paym... |
| AMAT | APPLIED MATERIALS INC | Export control violation — BIS $252M penalty (Feb 2026) for shipping restricted semiconductor equipment to entities on the Entity List, including suppliers to Chinese military programs. |
| ATO | Atmos Energy Corporation | Atmos Energy has a documented pattern of pipeline safety failures with fatal consequences. On February 23, 2018, a natural gas pipeline rupture in northwest Dallas killed 12-year-old Linda "Michellita... |
| BKD | Brookdale Senior Living Inc. | California Attorney General $3.25 million enforcement settlement (March 2022) for systemic consumer deception. Brookdale deliberately defrauded CMS to artificially inflate facility safety "star rating... |
| CAH | Cardinal Health | Pattern of regulatory non-compliance: $6B opioid settlement, $35M SEC accounting fraud settlement, $250M+ safety penalties — fines absorbed as cost of business rather than triggering structural reform |
| CCL | CARNIVAL CORP | Carnival Corporation has a documented pattern of significant regulatory violations across multiple domains, demonstrating systemic compliance failures. In 2019, its subsidiary Princess Cruise Lines pl... |
| CEG | Constellation Energy | Constellation Energy (spun off from Exelon Feb 2022) inherited Exelon's nuclear generation fleet and associated regulatory history. The NRC enforcement record includes: Notice of Violation for failure... |
| CHGG | CHEGG INC | Chegg has demonstrated a pattern of regulatory violations across consumer protection and data security domains. In September 2025, the Federal Trade Commission announced a $7.5 million settlement with... |
| CI | Cigna Corporation | Cigna has a documented pattern of regulatory violations across multiple domains, demonstrating systemic disregard for compliance. In September 2023, the company paid $172 million to resolve False Clai... |
| COIN | Coinbase Global, Inc. | NYDFS imposed a $100 million settlement on Coinbase in January 2023 — $50M fine plus $50M mandatory compliance investment — for systemic AML/KYC failures. By late 2021, Coinbase had over 100,000 unrev... |
| COR | CENCORA INC | Cencora Inc., formerly AmerisourceBergen, operates as a major pharmaceutical wholesale and distribution company. The company has a documented pattern of regulatory violations across multiple domains, ... |
| CUK | CARNIVAL PLC | Carnival PLC, operating through its cruise line subsidiaries, has established a documented pattern of regulatory violations across environmental, cybersecurity, and labor compliance domains. In 2019, ... |
| DAR | Darling Ingredients Inc. | Darling has documented "blatant disregard" for state enforcement orders. The 2026 lawsuit stems from failure to comply with a 2024 TCEQ Agreed Order. Violation Tracker logs over 120 historical records... |
| ESLT | Elbit Systems Ltd | Elbit Systems Ltd has faced multiple international investigations and allegations of procedural failures and corruption linked to its defense contracts. A Danish investigation concluded in November 20... |
| EXC | Exelon | Post-spinoff Exelon (pure-play regulated utility: ComEd, PECO, BGE, Pepco, Delmarva, ACE) has accumulated utility-specific regulatory failures independent of the nuclear operations transferred to Cons... |
| FITB | Fifth Third Bancorp | Fifth Third Bancorp has a documented pattern of regulatory violations across multiple consumer protection and financial compliance domains. In 2015, the bank reached an $85 million settlement with the... |
| GL | Globe Life | Globe Life has been referred to the Direct Selling Self-Regulatory Council (DSSRC) by the Council of Better Business Bureaus for failing to substantiate earnings claims made in the promotion of its Fa... |
| IDT | IDT Corporation | IDT Telecom, a subsidiary of IDT Corporation, received cease-and-desist letters from both the FTC and FCC for routing illegal robocall traffic. The FTC's Project Point of No Entry investigation found ... |
| INTU | Intuit | Intuit has a documented pattern of regulatory failures spanning deceptive advertising, consumer harm, and regulatory capture. The FTC ALJ found (Sep 2023) that Intuit ran a "broad, enduring, and willf... |
| LEN.B | LENNAR CORP | Lennar Corporation has accumulated a documented pattern of regulatory violations across multiple domains, including environmental, workplace safety, and consumer protection. According to ViolationTrac... |
| MAT | MATTEL INC | Mattel has an ongoing pattern of product safety failures resulting in serious consumer harm. In October 2024, Fisher-Price (Mattel subsidiary) recalled 2.1 million Snuga Infant Swings after five infan... |
| NILSY | MMC Norilsk Nickel PJSC | MMC Norilsk Nickel PJSC (Nornickel) operates a business model reliant on extensive environmental and social violations in Russia’s Arctic region. The company is a leading global producer of nickel and... |
| PRI | Primerica | Primerica's broker-dealer subsidiary PFS Investments Inc. (CRD #10111) was censured and fined $60,000 by FINRA in July 2024 for failing to establish and enforce a supervisory system for registered rep... |
| SCOR | COMSCORE INC | Comscore, Inc. has a documented pattern of regulatory violations and legal settlements across multiple domains, demonstrating systemic compliance failures. In 2019, the company paid $5 million to sett... |
| SMGR | Semen Indonesia | PT Semen Indonesia (now SIG, Semen Indonesia Group) has a documented pattern of operating against court orders and regulatory determinations. In the Kendeng Mountains (Central Java), a 2016 Supreme Co... |
| STC | Stewart Information Services | Stewart Information Services has accumulated $9.89 million in penalties across 27 enforcement records since 2000 (ViolationTracker). Key actions include: New York AG $2.5 million settlement (2022) for... |
| STX | SEAGATE TECHNOLOGY HOLDINGS PLC | Seagate paid a $300M civil penalty (BIS, April 2023) — the largest standalone administrative penalty in BIS history — for exporting ~7.4 million hard disk drives worth ~$1.1 billion to Huawei between ... |
| T | AT&T INC | AT&T Inc. exhibits a documented pattern of regulatory violations across multiple domains, indicating systemic compliance failures. In December 2022, the company agreed to pay a $6.25 million penalty t... |
| THC | Tenet Healthcare Corporation | Tenet Healthcare Corporation has a documented pattern of systemic regulatory and legal violations spanning decades, indicating a corporate culture of non-compliance. In 2016, Tenet and two of its Atla... |
| TMDX | TRANSMEDICS GROUP INC | TransMedics faced an FDA Citizen Petition in 2025 alleging concealment of safety issues with its Organ Care System. Multiple securities fraud lawsuits followed, alleging the company hid adverse patien... |
| TSLA | Tesla | Violation Tracker documents 78 enforcement records totaling $99.4M in penalties against Tesla. Safety violations include multiple OSHA citations at the Fremont and Austin Gigafactory plants (Austin ha... |
| TV | Grupo Televisa | FIFA bribery (US DOJ 2015 indictments, Televisa executives named); Mexico broadcast license irregularities; pattern of government contract non-compliance |
| VEOEY | Veolia Environnement | Veolia Environnement has accumulated a documented pattern of regulatory violations across multiple jurisdictions and environmental domains. In 2022, the company received a report from ISS ESG verifyin... |
| VFS | VinFast | VinFast Auto Ltd. faces a class action securities lawsuit alleging the company made false statements and omitted material information regarding its business and financial prospects. This litigation al... |
| VTRS | Viatris | Viatris has accumulated a pattern of regulatory violations across multiple jurisdictions and domains, indicating systemic compliance failures. In November 2024, the UK Competition and Markets Authorit... |
| VYNE | VYNE THERAPEUTICS INC | VYNE Therapeutics received an FDA clinical hold on VYN202 in April 2025 after testicular toxicity was found in preclinical dog studies. The company also failed Nasdaq listing standards, compounding re... |
The Naughty List
A digest of changes to our exclusion list — new additions, removals, and the evidence behind them. We review the list continuously as new evidence surfaces.
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