Good morning. Standard Chartered PLC’s $1.1 billion settlement could serve as an example of how U.S. sanctions enforcement actions are reshaping compliance departments at international banks. “It’s a revolution in progress now,” said Matteo Winkler, an assistant professor at business school HEC Paris, told Risk & Compliance Journal.

London-based Standard Chartered agreed to pay multiple U.S. and U.K regulators to settle allegations it violated sanctions on Iran and other countries, authorities said Tuesday.

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As part of its settlement with the U.S. Treasury Department, Standard Chartered agreed to implement more robust compliance procedures, including strengthening internal controls, conducting regular risk assessments and audits, and providing ongoing sanctions compliance training, the Treasury said.

These kinds of remedies, particularly when imposed by U.S. authorities on foreign banks, have led to an “Americanization” of corporate compliance abroad, Dr. Winkler said. They have prompted some financial institutions to separate compliance divisions from legal departments and to boost training and staffing in these departments, he said. Actions like these also point out the need for international banks to become more familiar with the nature of U.S. investigations and the techniques of negotiating with U.S. authorities.

“This is a cultural change that needed to be done,” said Dr. Winkler, who wrote about the subject with David Restrepo-Amariles in a paper published last year in the journal The International Lawyer, which cited similar shifts after actions directed at BNP Paribas SA, HSBC Holdings PLC and ING Group. “It requires legal and compliance officers to understand the mechanism of the legal system of another country.”

Join The Wall Street Journal and Dow Jones Risk & Compliance in Houston on April 11 for an interview with Stratfor’s vice president of global analysis, Reva Goujon, on how world events are creating corporate risk, followed by a panel discussion on energy company compliance with Christine Stevenson, chief compliance officer for integrated supply and trading at BP Americas and Brent Benoit, chief compliance officer of National Oilwell Varco. Register here.

• Federal prosecutors charged U.K. pharmaceutical company Indivior with organizing a multibillion-dollar fraud to drive up sales of Suboxone Film, an opioid-addiction treatment. The Justice Department said Indivior set up a telephone and online program intended to connect callers with doctors that Indivior knew were prescribing Suboxone or opioids in a “careless and clinically unwarranted manner.”
  Indivior accused the Justice Department of pursuing “self-serving headlines.”
   
• A former attorney at SeaWorld Entertainment Inc. pleaded guilty to insider trading, after federal prosecutors said he earned about $65,000 in profits from trading shares ahead of the public disclosure of the company’s rising attendance numbers. Paul Powers, 60 years old, admitted that through his position as associate general counsel with the Orlando, Fla., theme-park company, he knew in the summer of 2018 that the company would report higher revenue and attendance figures.
   
• UBS Group AG fired a senior investment banker because he allegedly failed to inform superiors and the bank’s compliance officials that they had reclassified a bond the firm was underwriting as a loan. That matters because bank loans are subject to government guidelines aimed at curbing excessive risk, while bonds aren’t, and firms that flout the will of regulators risk sanctions including potential fines.

DTE Energy Co., PG&E Corp. and a municipal utility in Missouri broke rules designed to protect the nation’s electric system from cyber and physical attacks and were sanctioned by federal regulators, according to newly released documents and people knowledgeable about the cases.

Penalty cases aren't uncommon, but what is unusual is that the public is learning the operators’ identities. Most violators’ names are kept confidential in a system designed to encourage self-disclosure of infractions by the utilities—an approach that some critics say is too soft on the industry.

The identification of the three violators follows the recent revelation that Duke Energy Corp. broke the same set of rules.

The cases against Detroit utility DTE, San Francisco-based PG&E and City Utilities of Springfield, Mo., were lodged from 2014 to 2016—a time when Russia was in the midst of a major campaign to penetrate utility defenses, according to federal officials.

• Global economic growth in 2019 is off to a worse start than was apparent earlier in the year, with nearly the entire world economy stumbling, according to new forecasts from the International Monetary Fund. The IMF’s latest economic forecasts cut the outlook for growth in 2019 to 3.3% from estimates of 3.5% in January and 3.7% in October. The decline has been broadly felt, with all major advanced economies, including the U.S., and most major emerging-market economies seeing deterioration in their outlook.
   
• Boeing Co. didn’t book any commercial orders for its 737 jetliner in March, the first month without a sale of the aerospace giant’s best-selling aircraft in almost seven years. The disclosure highlights the mounting uncertainty among customers, Boeing investors and suppliers about when the new MAX version of the 737 might return to flight following the global grounding of the plane after two fatal crashes.

• U.K. department store operator Debenhams PLC said it has sold the business to its lenders, a move that comes as falling consumer spending, uncertainty around Brexit and rising competition from online retailers put the U.K.’s High Street retailers under pressure. Debenhams, a business that dates back to 1778, appointed FTI Consulting LLP as administrators to conduct the sale to a newly incorporated company called Celine UK Newco 1 Ltd. controlled by its lenders. 
   
• Bank of America Corp. said it is raising the minimum wage so it hits $20 an hour in 2021. A spokeswoman declined to say how many employees currently are paid minimum wage, but said the company is expecting the increase to affect “tens of thousands” of employees in the U.S. working in areas such as the consumer bank, technology, and operations and staff support.

French bank Société Générale SA said it plans to cut nearly 1,600 jobs globally after a slump in investment banking revenue in the fourth quarter, retrenching to its core businesses as choppy markets hobble Europe’s banks. The cuts at Société Générale come as investment banks in Europe endured a particularly tough first quarter with a slew of economic and political challenges leaving companies reluctant to pursue deals or raise money.

Cerner Corp. said it has agreed with activist investor Starboard Value LP to add four board members and set out certain operating-margin goals. The health-care technology company said nine directors on the enlarged 10-person board will be independent after its annual shareholder meeting this year. Starboard, which owns about 1.2% of Cerner’s outstanding stock, said the new directors “will bring fresh perspectives and added expertise.”

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Send comments to the Risk & Compliance editor, Jack Hagel, at jack.hagel@wsj.com.