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Federal and State Agencies Announce $714 Million FX Settlement

On March 19, four federal and state agencies –DOJ, the Department of Labor (DOL), the SEC, and New York Attorney General – entered into a proposed $714 million settlement agreement against a large bank to resolve allegations...more

Best Practices on “Best Value” Discussed by the National Cooperative Highway Research Program

The National Cooperative Highway Research Program (NCHRP) released its latest installment of its “Synthesis of Highway Practice” on March 5, 2015, discussing specifically practices for developing transparent “best value”...more

FinCrimes Update - February 2015 Summary, Volume 2, Issue 2

On February 25, New York DFS Superintendent Benjamin Lawsky delivered remarks at Columbia Law School focusing on how state bank regulators can better supervise financial institutions in a post-financial crisis era. In his...more

Russian Legislation Update - 19 January – 1 March 2015

In This Issue: - Investments - Project Finance - Financial System Stability - Banking - Financial Organizations - Environment - First Reading: Personal Data Processing; State...more

Rating Agency Developments

On March 9, Moody’s released its updated methodology for rating privately-financed public infrastructure (PFI/PPP/P3) projects. On March 9, Fitch released its updated criteria for rating single- and multi-name credit-linked...more

Up to $35 Million in Renewable Energy Funding Available for Fuel Cell and Hydrogen Technologies

Overview - The Department of Energy’s Office of Energy Efficiency and Renewable Energy (“EERE”) has made available up to $35 million in funding for research and development and demonstration and deployment projects to...more

New Development Opportunities Through Public-Private Partnerships

Homebuilders and developers may want to consider availing themselves of opportunities arising through public-private partnerships (P3s). The Obama administration has recently proposed several creative approaches to P3s. Those...more

Pay-to-Play Lessons from New Jersey’s State Investment Council Rules

New Jersey is often thought of as the “pay-to-play” state – primarily because we have five separate statewide pay-to-play prohibition laws in effect (covering state procurement, county procurement, local procurement, state...more

SBIC Investment: A Potential Source of Capital for Government Contractors

Owners of privately-held businesses generally finance their businesses with their own capital, augmented with bank loans. An additional source of funding for government contractors is available from Small Business Investment...more

Will we see a trend for direct pension fund investment in US greenfields infrastructure?

Although historically the investment profile for pension funds has focused on established brownfields assets, the Canadian Pension Plan Investment Board (CPPIB) has recently invested $525 million AUD into the greenfields...more

FCA Matters: Department of Justice Touts Record Recoveries in False Claims Act Cases (2/15)

The U.S. Department of Justice collected a record $5.69 billion through settlements and judgments in False Claims Act cases during the fiscal year ending September 30, 2014, according to a recent announcement by DOJ...more

Understanding the 4 “P’s” Before the P3 (Public-Private Partnership)

To get a P3 proposal to the starting line, public officials need to make sure that there is clarity and agreement on basic issues and priorities - Aging and inadequate infrastructure, required upgrades and scarce...more

White House Proposes New P3 Financing Tool: Qualified Public Infrastructure Bonds (QPIB)

Last month, the Obama administration proposed the creation of a new kind of municipal bond — Qualified Public Infrastructure Bonds (QPIB), as a way to extend the benefits of municipal bonds to public private partnerships....more

Obama’s Proposed 2016 Budget Seeks To Address Infrastructure Needs

The Obama administration's proposed 2016 budget, released on February 2, 2015, reflects the administration's commitment to finding ways to finance the country’s growing infrastructure requirements. The 2016 budget includes...more

Puerto Rico’s Recovery Act Ruled Preempted: What Now?

At the end of “The Candidate”, Robert Redford’s title character, having won, famously asks, “What do we do now?” A similar question can be asked now that the federal district court in Puerto Rico has struck down the...more

Labor And Employment Law 2014: A Year-End Review

I. New Laws and Regulations - A. Federal - President Obama Signs Executive Orders to Ensure Federal Contractor Compliance with Labor Laws. On July 31, 2014, President Obama signed the Fair Pay and Safe...more

Mexico Energy Law – Round 1 Update

Update regarding Mexico’s Licensing Round 1 shallow water oil and gas tender - According to the Comisión Nacional de Hidrocarburos (e.g., the National Hydrocarbons Commission; “CNH”), as of Thursday, January 28th,...more

What We Can Learn from PennDOT's Award of the First Rapid Bridge Replacement P3 Project

In the first significant public private partnership (“P3?) infrastructure project in Pennsylvania, PennDOT recently selected Plenary Walsh Keystone Partners (“Plenary Walsh”) for award of the Rapid Bridge Replacement program....more

False Claims Act – 2014 Year in Review

The False Claims Act (FCA) imposes liability on individuals and companies who defraud or submit false claims to the federal government. The FCA allows the federal government to seek treble damages, civil penalties and...more

OFAC Issues Cuban Asset Control Regulations Focused on the U.S. Financial Sector

On January 15, 2015, the Department of Treasury’s Office of Foreign Assets Control (OFAC) amended the Cuban Assets Control Regulations to implement changes in U.S. policy toward Cuba announced by President Obama on December...more

Time To Apply A Risk-Based Approach To Information Security Training

Digital warfare seems to be the name of the game these days. Terrorists attack our database infrastructures and wreck havoc by making personal information public. Look at the most recent attacks on Sony, Chick-Fil-A and...more

This Week In Securities Litigation

The SEC named ratings giant Standard & Poor’s in three actions this week and one of its senior executives in another. The firm settled all three actions, admitting to a series of facts but not violations of the law in one...more

Ethics in Pharmaceutical Sales: Strengthening Corporate Culture and Preventing False Claims Act Violations

“I didn’t set out to commit a crime. I certainly didn’t set out to hurt anyone… I was kind of a hero, because I helped the company make its numbers every quarter. And I thought I was doing a good thing. I thought I was...more

New Funding for Energy Innovation: D.O.E. Announces $125 Million for Transformational Energy Projects

On January 7th, the United States Department of Energy (DOE) announced that it was making available up to $125 million in funding for transformational energy projects through the ‘OPEN 2015’ program. The program, which will...more

The New Enforcement Threat – Sanctions Violations

To label the current enforcement environment as “tough” is a dramatic understatement. I never understand why lawyers spend so much time touting the new, aggressive enforcement era as part of their marketing pitches –...more

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