Despite the fact that the Foreign Corrupt Practices Act has been in force for decades there is relatively little case law interpreting its provisions. A great deal of the existing interpretation of the Act stems from...more
9/12/2018
/ Bribery ,
Compliance ,
Conspiracies ,
Criminal Conspiracy ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Foreign Corrupt Practices Act (FCPA) ,
Foreign Official ,
Indictments ,
Popular ,
Securities and Exchange Commission (SEC) ,
White Collar Crimes
The remedies the Securities and Exchange Commission (“SEC”) can seek in its enforcement actions are a critical question in the wake of the Kokesh v. SEC, 137 S.Ct. 1635 (2017) and SEC v. Cohen, Civil Action No. 17-cv-430...more
8/2/2018
/ Civil Monetary Penalty ,
Democratic Republic of Congo ,
Disgorgement ,
Enforcement Actions ,
Federal Rules of Civil Procedure ,
Foreign Corrupt Practices Act (FCPA) ,
Injunctions ,
Kokesh v SEC ,
Securities and Exchange Commission (SEC) ,
Statute of Limitations ,
Tolling Agreement ,
White Collar Crimes
Keeping ahead of global anti-corruption trends is critical in today’s business markets. The Dorsey Anti-Corruption Digest, which puts global trends at your fingertips, puts you ahead. The deep experience of the Dorsey...more
3/9/2018
/ Airbus ,
Barclays ,
Criminal Conspiracy ,
Criminal Prosecution ,
Declination ,
Department of Justice (DOJ) ,
Economic Sanctions ,
Foreign Corrupt Practices Act (FCPA) ,
Fraud ,
Money Laundering ,
Nestle ,
Securities and Exchange Commission (SEC) ,
State-Owned Enterprises ,
Suspensions & Debarments ,
White Collar Crimes
The Department of Justice (DOJ) ended its probe of Net1 UEPS Technologies, according to SEC filings from the South African-based payment processing company. The company received a declination from the Securities and Exchange...more
8/4/2017
/ Bribery ,
Compliance ,
Corruption ,
Criminal Convictions ,
Criminal Prosecution ,
Declination ,
Donald Trump ,
Enforcement Actions ,
Exxon Mobil ,
FBI ,
Foreign Corrupt Practices Act (FCPA) ,
Forfeiture ,
Halliburton ,
IBM ,
Russia ,
Senate Confirmation Hearings ,
Trump Administration ,
White Collar Crimes
Welcome to Dorsey & Whitney’s monthly Anti-Corruption Digest. In this digest, we draw together news of enforcement activity throughout the world and aim to reduce your information overload. Our London, Minneapolis, New York...more
4/28/2016
/ Alstom ,
Anti-Corruption ,
Avon ,
Brazil ,
Bribery ,
Compliance ,
Cooperation ,
Deferred Prosecution Agreements ,
Department of Justice (DOJ) ,
Egypt ,
Enforcement Actions ,
Federal Pilot Programs ,
Federal Sentencing Guidelines ,
Foreign Corrupt Practices Act (FCPA) ,
Kuwait ,
Novartis ,
Remediation ,
Securities and Exchange Commission (SEC) ,
Self-Reporting ,
Serbia ,
Serious Fraud Office (SFO) ,
Turkey ,
UK ,
Voluntary Disclosure ,
Wells Fargo ,
White Collar Crimes
Since the Supreme Court handed down its decisions in U.S. v. Monsanto, 491 U.S. 600 (1989) and Caplin & Drysdale, Chartered v U.S., 491 U.S. 617 (1989) is has been well established that a defendant’s Sixth Amendment right to...more
Since at least the market crisis there has been a clamor to convict senior corporate officials of federal felonies – or at least name them in a civil law enforcement action by the SEC or another agency. For years the...more
10/7/2015
/ C-Suite Executives ,
Cooperation ,
Corporate Management ,
Corporate Misconduct ,
Corporate Officers ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Government Investigations ,
Law Enforcement ,
White Collar Crimes ,
Yates Memorandum
Since the SEC announced the formation of its Financial Fraud Task Force two years ago the agency has struggled to establish this once enforcement mainstay as a current staple. Some commentators have suggested that a trend is...more
An energy company, its CEO and the firm’s public relations adviser and its president were named in a fraud action by the SEC centered on false representations concerning oil reserves for a property in Columbia. The...more
James Tagliaferri, the former President of TAG Virgin Islands, a registered investment adviser, was found guilty by a jury of one count of investment adviser fraud, six counts of violating the Travel Act, one count of...more
For former Qualcomm Inc. Executive Vice President Jing Wang the cover-up not only failed but increased his liability. The former executive pleaded guilty this week to securities fraud based on his insider trading, money...more
The Commission got split decisions in court this week. It prevailed in one high profile trial, obtaining a jury verdict in its favor. It lost a significant summary judgment motion regarding the statute of limitations...more
Most insider trading cases center on news about a corporate event such as an acquisition or an earnings announcement that has not become public. In SEC v. Lawson, Civil Action No. 3:14-cv-02157 (N.D. Cal. Filed May 12, 2014)...more
Chair Mary Jo White testified before Congress this week. Her testimony focused on the budget, reviewing the recent work of the agency. The Commission brought a series of civil injunctive and administrative proceedings this...more
5/2/2014
/ Anti-Money Laundering ,
Broker-Dealer ,
Deferred Prosecution Agreements ,
eBay ,
Enforcement ,
Enforcement Actions ,
Financial Industry Regulatory Authority (FINRA) ,
Fraud ,
Mary Jo White ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Securities Litigation ,
White Collar Crimes
The Supreme Court handed down a significant decision, construing SLUSA in the context of suits by investors defrauded investors in the Stanford Ponzi scheme. The Court concluded that the Act does not bar four state law class...more
The insider trading trial of former SAC Capital employee Matthew Martoma continued this week. The SEC filed one new administrative proceeding this week as Washington, D.C. and much of the East coast was blanketed with snow...more
The SEC National Examination Program announced its 2012 examination priorities. Those priorities are selected by senior staff from the National Exam Program’s offices along with senior SEC staff from the various Divisions and...more
Parts I and II of this series looked back at select cases brought by the Commission during 2013. Part III considered the projected path of SEC Enforcement based on remarks by members of the Commission and new initiatives....more
SEC Enforcement is in transition. The agency has a new Chair, new Commissioners and a new Director of the Division of Enforcement. Aggressive new approaches have been outlined, building on the notion that the enforcement...more