Finance & Banking General Business Criminal Law

Read Finance & Banking Law updates, alerts, news, and legal analysis from leading lawyers and law firms:
News & Analysis as of

Financial Regulatory Developments Focus - April 2014

In this issue: - Derivatives - Compensation - Regulatory Capital - Financial Services - Financial Crime - Excerpt from Derivatives: European Commission Consults on Definition...more

Casino AML Compliance Update: Las Vegas Sands Corp. Places Macau Casino Junkets Under Increased Scrutiny.

On April 4, 2014, Bloomberg reported that the Las Vegas Sands Corp. (“Sands”) has increased its scrutiny of casino junket operators in Macau. The decision comes as casinos seek to meet the increased demands of federal...more

New York DFS Obtains Substantial Settlement In Licensing Enforcement Action

On March 31, in an enforcement action with potential implications for a range of financial service providers, the New York State Department of Financial Services (DFS) announced that an insurance holding company agreed to pay...more

Battuta D'arresto Per La Voluntary Disclosure

Come annunciato, l'articolo 1 del decreto legge 28 gennaio 2014, n. 4 (pubblicato in G.U. n. 23 del 29 gennaio 2014 – di seguito "Decreto") in materia di "Voluntary Disclosure" o "Collaborazione Volontaria" per il rientro dei...more

Reining In Overbroad Criminal Subpoenas – Is Some Relief In Sight?

In the wake of the national financial crisis, both the U.S. Department of Justice (“DOJ”) and the U.S. Securities and Exchange Commission (“SEC”) publicly committed themselves to enhanced enforcement of federal financial laws...more

DOJ and SEC Representatives Tackle Pressing Anti-Corruption Issues in 2014

On March 20th and 21st, U.S. regulators, practioners, and other anti-corruption industry professionals gathered in Washington, D.C. for the Second Annual Global Anti-Corruption Congress. The Congress featured speakers,...more

Emphasis On Enforcement

In back-to-back keynote addresses Monday to the Securities & Financial Markets Association’s annual Compliance & Legal meeting, SEC-Chair Mary Jo White and Southern District of New York US Attorney Preet Bharara renewed the...more

Legislative Decree N. 231/2001: The Stance Taken By The Italian Supreme Court On Conspiracy Crimes, The Compliance...

1. THE ILVA CASE - By decision filed on 24 January 2014, the Sixth Section of the Italian Supreme Court has passed judgement on the age-old quaestio concerning the crime of conspiracy as predicate offence pursuant to...more

"UK Issues Guidelines for Deferred Prosecution Agreements"

Introduction - Deferred prosecution agreements (DPAs) are now available in the United Kingdom as a means of resolving criminal investigations of certain serious economic crimes other than by guilty plea, trial or...more

Marijuana Taxation Update: State Sanctioned Marijuana Industry Must Keep the Federal Anti-Drug Trafficking Tax Code in Mind

As we have previously reported, despite the growing number of States that have authorized the use of marijuana in various forms, the federal government has continued to crack down on dispensaries. In addition to direct...more

UK’s Serious Fraud Office Looks to Pursue More Prosecutions of Corporates

A proposed amendment to the UK Bribery Act would give the SFO greater power to prosecute corporates for financial crimes committed by their employees. The head of the UK’s Serious Fraud Office (SFO), David Green,...more

FinCEN Issues Guidance for Financial Institutions Seeking to Provide Services to Marijuana-Related Businesses

The Financial Crimes Enforcement Network (“FinCEN”) issued guidance (the “Guidance”) to clarify FinCEN’s expectations as to how financial institutions (“FIs” and each an “FI”) will meet their compliance requirements under the...more

Today Deferred Prosecution Agreements (“DPAs”) come into force in the UK

DPAs are agreements between prosecutors and corporate organisations that charges will be presented but not pursued, provided the organisation complies with a set of agreed terms and conditions. Those terms and conditions...more

Anti-Money Laundering Compliance Update: FinCEN Issues Guidance For Financial Institutions Providing Services To Marijuana-Related...

On February 14, 2014, the Financial Crimes Enforcement Network (“FinCEN”) issued its guidance “BSA Expectations Regarding Marijuana-Related Businesses” in an effort to clarify Bank Secrecy Act (“BSA”) expectations for...more

Do Laws Have An Expiration Date?

Last week, I wrote about a bill, AB 129, currently pending in the California legislature that would amend California Corporations Code Section 107. As I had pointed out in an even earlier post last May, that statute...more

“DPAs” Have Arrived in England: The Proof of the Pudding Is in the Eating

As noted in our previous Alert in September 2013, the UK Crime and Courts Act 2013 has now come into effect this month making deferred prosecution agreements (DPAs) available to the Director of the Serious Fraud Office (SFO)...more

Charlie Shrem And Why We Need To Change Our Perspective Of Bitcoin

On Monday, January 27, 2013, Charlie Shrem, the 24 year old CEO of BitInstant and Vice Chairman of the Bitcoin Foundation, was arrested for his role operating a Bitcoin exchange service popular among users of Silk Road....more

Fake-Hair Companies Settle Money-Laundering Charges

U.S. regulators signaled their intention to continue aggressive enforcement of anti-money laundering (AML) laws by using the Bank Secrecy Act — a law generally used to target large banks and financial institutions — to charge...more

"Regulators Renew Their Focus on Anti-Money Laundering Compliance"

A resurgence in anti-money laundering (AML) enforcement over the last few years reflects a renewed post-crisis focus on compliance with the regulatory requirements of the Bank Secrecy Act (BSA) imposed on banks (AML...more

UK Government Steps Up Antibribery Enforcement

Recent actions by the Serious Fraud Office and Financial Conduct Authority indicate an increased focus on addressing allegations of bribery and corruption. It is clear that, in the wake of the Bribery Act 2010, the UK...more

The Foreign Corrupt Practices Act—A Look Back at 2012 and 2013

Over the last two years, enforcement of the Foreign Corrupt Practices Act (“FCPA”) has remained a priority of the U.S. Department of Justice (“DOJ”) and Securities and Exchange Commission (“SEC”). That emphasis is likely to...more

Here We Come . . . Walking Down [Wall Street] – More “Aggressive” AML Enforcement On The Horizon

I always say that the government does not enforce the laws in secret – they tell business what they plan to do and then they carry it out. The announcement of an enforcement initiative is always followed by a series of press...more

Corporate and Financial Weekly Digest - Volume IX, Issue 2

In this issue: - Judges Raise Concerns Regarding Conflict Minerals Rule at Appeal Hearing - SEC Division of Corporation Finance Issues Five Additional C&DIs Relating to “Bad Actor” Rule - CFTC Requests...more

Stephen Cutler Has A Point About The Increasing Size Of Settlements

In late November, J.P. Morgan, the Justice Department and other agencies reached a $13 billion settlement over practices involving mortgage securities. Three days later, J.P. Morgan’s General Counsel, Stephen Cutler,...more

Deferred Prosecution Agreements to Be Introduced in the UK

Beginning in February 2014, the agreements may be used as a sentencing tool for corporate bribery, fraud, and other economic crimes. Under the UK Crime and Courts Act 2013, which received royal assent in April,...more

277 Results
|
View per page
Page: of 12

Follow Finance & Banking Updates on: