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International AML Enforcement in 2017 Expected to Target Consumer-Due-Diligence Programs, Gaming Entities, Prepaid Cards, Digital...

Over the past two years, financial regulatory bodies in the United States and Europe have increasingly emphasized consumer due diligence (“CDD”) by financial institutions as a means to combat money laundering and terrorist...more

FinCEN Looks to Financial Institutions to File SARs Regarding Cyber-Events

On October 25, 2016, the Financial Crimes Enforcement Network (“FinCEN”) issued an advisory (the “Advisory”) explaining the obligations a “financial institution” might have under the Bank Secrecy Act (“BSA”) regarding...more

Tax Evasion - Nowhere Left to Hide

Global tax evasion remains a major problem for governments around the world. At a time when virtually all of the governments from the world’s major economies seek additional revenue, the attractiveness to taxpayers of...more

Sixth Circuit’s Rejection of Taint Damages Theory in False Claims Act Case Reinforces that Value-Received May Substantially Offset...

In False Claims Act (“FCA”) cases, the Department of Justice and, where the government has declined to intervene, qui tam plaintiffs, routinely pursue aggressive damages theories. In its recent decision in U.S. ex rel. Wall...more

FINRA Targets AML Programs and “Culture of Compliance” as 2016 Enforcement Priority, Particularly for High-Risk Broker/Dealers

Under Securities and Exchange Commission (“SEC”) authorization, the Financial Industry Regulatory Authority (“FINRA”) is “responsible for regulating (1) all securities firms that do business with the public[,]” (2) key stock...more

Pennsylvania’s Proposed False Claims Act: Why Further Incentivizing Whistleblowers Is Unnecessary, Counterproductive, and Could...

As Pennsylvania legislators work to resolve the budget impasse, proponents of enacting a Pennsylvania False Claims Act (“PA FCA”) targeting Medicaid continue to intensify their efforts in Harrisburg. Legislators may consider...more

Are Your Company’s Legal, Due-Diligence, De-risking, or Compliance Obligations Impacted by the “Panama Papers”?

In an unprecedented event earlier this week, 11.5 million files from the Panamanian law firm Mossack Fonseca were allegedly leaked. Assuming they are genuine, as appears to be the case, these “Panama Papers” offer a...more

Government Investigations Into Cybersecurity Breaches In Healthcare

In September 2015, a U.S. Department of Health and Human Services (HHS), Office of the Inspector General (OIG), report found that the Office of Civil Rights (OCR), the agency charged with ensuring compliance with the Health...more

Treasury Department Issues Cybersecurity Checklist for Financial Institutions: What Might Apply to Your Financial Services...

On November 17, 2015, Deputy Treasury Secretary Sarah Bloom Raskin devoted her remarks at the Clearing House Annual Conference to financial sector cybersecurity. She concluded with a list of recommendations for handling...more

Accepting Daily Fantasy Sports Payments and Proceeds May Be Unlawful: New York AG Accuses DFS Sites of Leading “Massive . . ....

New York Attorney General (“NYAG”) Eric Schneiderman has claimed that daily fantasy sports (“DFS”) sites, including FanDuel and DraftKings, violate New York state gambling laws. He has issued cease-and-desist letters, giving...more

DOJ Sharpens Focus on Corporate Compliance in Deciding Whether to Prosecute Companies

One of the factors that the U.S. Department of Justice (DOJ) considers in deciding whether to bring charges against a corporation is the existence and effectiveness of the corporation’s pre-existing compliance program. On...more

Is Money Being Laundered Through Your Financial Institution Using Daily Fantasy Sports Sites?

This alert addresses the explosion in popularity of daily fantasy sports (“DFS”) sites and the money-laundering potential that DFS sites may offer to criminals around the world. It then explains potential legal liability...more

New DOJ Guidance Sharpens the Focus on Prosecuting and Suing Individuals in Corporate Criminal Investigations

On September 9, 2015, the U.S. Department of Justice (“DOJ” or the “Department”) issued a memorandum to its staff revising the principles guiding criminal and, indeed, civil enforcement in corporate criminal investigations...more

A Stern Reminder from U.S. v. Fokker: The Execution of a Corporate Deferred Prosecution Agreement May Not Be the End of a...

A phenomenon virtually foreign to the 20th Century, the use of pre-plea agreements by the Department of Justice (“DOJ”), typically in the form of a deferred prosecution agreement (“DPA”) (or a non-prosecution agreement...more

Blurring the Lines between False Claims Act Litigation and Putative Federal Malpractice Law: The DOJ Quietly Invokes “Worthless...

On October 10, 2014, the United States Department of Justice (“DOJ”) announced a civil settlement agreement (the “Settlement”) with Extendicare Heath Services, Inc. and its subsidiary Progress Step Corporation (collectively,...more

Corporate Responses to Investigative Requests by the Federal Government

In light of these new realities corporations face, the first step a company should take is to establish internal guidelines addressing interaction with government agents. Companies should have a response policy in place and...more

Enhanced Protections for Federal-Employee Whistleblowers: Sign of Things to Come?

Whistleblowers who work for the federal government recently received greater protection under federal law. These additional protections are significant and close prior gaps in the protections afforded by previous statutes and...more

Sending the Privilege Away: Attorney-Client E-Mails in the Corporate Setting

In a pending False Claims Act (“FCA”) case involving allegations of noncompliance with the federal physician self-referral law (the “Stark Law”), 42 U.S.C. § 1395nn, the United States District Court for the Middle District of...more

Off-Label Marketing Questioned as a Viable Criminal Theory – But Stay Tuned

On December 3, 2012, a divided Second Circuit held in United States v. Caronia (“Caronia”) that the misbranding provisions of the Federal Food, Drug, and Cosmetic Act (“FDCA”) do not criminalize “the truthful off-label...more

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