The first-ever tri-seal Note highlights tactics used to circumvent Russia-related restrictions, while NSD adds 25 prosecutors focusing on sanctions and export controls.
In May 2022, shortly after hostilities in Ukraine...more
3/21/2023
/ Compliance ,
Department of Justice (DOJ) ,
Economic Sanctions ,
Enforcement Actions ,
Export Controls ,
Military Conflict ,
Risk Management ,
Russia ,
Sanction Violations ,
U.S. Commerce Department ,
U.S. Treasury ,
Ukraine
Recent developments include updated DOJ compliance guidance, a continued rise in FCPA proceedings and penalties, and new investigatory approaches in light of the pandemic. 2020 saw many important developments in US white...more
1/20/2021
/ Acquisitions ,
Analytics ,
Anti-Money Laundering ,
CARES Act ,
Compliance ,
Cooperation ,
Coronavirus/COVID-19 ,
Department of Justice (DOJ) ,
Employee Training ,
Enforcement Actions ,
Foreign Corrupt Practices Act (FCPA) ,
Fraud ,
Guidance Update ,
Mergers ,
White Collar Crimes
The legislation - passed via the first congressional override of the Trump presidency - extends the SEC’s ability to obtain disgorgement for violations of federal securities laws.
Key Points:
..As amended, the...more
1/4/2021
/ Congressional Override ,
Disgorgement ,
Enforcement Actions ,
Equitable Relief ,
Kokesh v SEC ,
Liu v Securities and Exchange Commission ,
Look-Back Measurement Period ,
NDAA ,
Presidential Veto ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Statute of Limitations
Questions about the scope of the SEC’s disgorgement authority remain open, including in administrative proceedings.
Key Points:
..Since the April 2017 decision in Kokesh v. SEC, the statutory authority of the Securities...more
6/24/2020
/ 15 U.S.C. § 78u(d)(5) ,
Administrative Authority ,
Business Expenses ,
Calculation of Damages ,
Corporate Misconduct ,
Disgorgement ,
Enforcement Actions ,
Equitable Relief ,
Kokesh v SEC ,
Lack of Authority ,
Liu v Securities and Exchange Commission ,
Net Profits ,
Remedies ,
SCOTUS ,
Securities and Exchange Commission (SEC)
Ruling holds that the government cannot use conspiracy and accomplice liability theories to reach foreign nationals that lack US ties.
Key Points:
..Non-resident foreign nationals who are not otherwise subject to direct...more
This update analyzes the trends and patterns in the Consumer Financial Protection Bureau’s publicly available enforcement actions.
Leveraging the analysis in our December 2014 White Paper, CFPB Enforcement by the Numbers...more
2/5/2016
/ Consumer Financial Protection Bureau (CFPB) ,
Debt Collection ,
Discriminatory Lending Practices ,
Enforcement Actions ,
FDCPA ,
Military Service Members ,
Misrepresentation ,
Mortgages ,
RESPA ,
Telecommunications ,
Telemarketing Sales Rule ,
Truth in Lending Act (TILA) ,
UDAAP
A serious shift of focus to individual accountability may impact traditional corporate defense and settlement tactics.
On September 9, 2015, the Department of Justice (DOJ) issued a set of guidelines that formally revise...more
A substantive and statistical analysis of the Consumer Financial Protection Bureau’s 62 publicly available enforcement actions to date reveals preliminary trends and patterns.
Established in 2011 in the wake of the...more
Under CFPB’s broad mandate, many companies outside the financial services industry may be subject to expensive civil investigations.
A for-profit technical school may not appear to be a financial services company. But...more