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Corporate Investigations and White Collar Defense - February 2017

When Regulatory Failings Turn Criminal: Car Edition Redux - Why it matters: To paraphrase the famous quote from the film “All About Eve”: Fasten your seatbelts, it’s going to be a bumpy car ride. In the first part of...more

Everything Compliance-Episode 5, year-end wrap up Part II [Video]

We turn to the 2016 year in review, in this Part II of a two-part series. Jonathan Armstrong leads a discussion on Privacy Shield, information and data privacy issues the past year. Mike Volkov relates what he saw as the top...more

$519 million FCPA Payment by Teva Pharmaceuticals—Largest Ever FCPA Payment by Pharmaceutical Company—Follows Large FCPA Plea...

On December 22, 2016, the world’s largest manufacturer of generic pharmaceuticals, Teva Pharmaceuticals (“Teva”), agreed to pay $519 million in FCPA-related criminal penalties, disgorgement, and interest. The Israeli company...more

Indictment Issued in Law Firm Hacks

In what New York’s top federal prosecutor called a “wake-up call for law firms around the world,” three Chinese citizens have been charged with hacking into the servers of two prominent – but unidentified – international law...more

Everything Compliance-Episode 3 [Video]

We are back to our more rounded format for this episode on a variety of topics including anti-corruption enforcement across the globe, the new French anti-corruption law, Sapin II, the Agricultural Bank of China compliance...more

EU Proposal to Address Virtual Currency Exchanges & Wallet Providers in Anti-Money Laundering Laws

The European Commission recently published a proposal to amend the Fourth Anti-Money Laundering Directive, the legislation that specifies the anti-money laundering, or AML, and counter terrorist financing rules for EU Member...more

This Week in FCPA-Episode 12 [Video]

In this episode, Jay Rosen and myself take a look at the line drawn from the Yates Memo to the hiring of Hui Chen, to the Pilot Program, the 3 enforcement actions since then and conclude that FCPA enforcement is changing. Jay...more

Timothy Burke on Cybersecurity Risks and Preventative Measures [Video]

Timothy Burke, partner and co-head of the securities enforcement and litigation practice at Morgan Lewis, talks about the current issues in the area of cybersecurity and the importance for companies and institutions to take...more

Proving “Loss” Under the Economic Espionage Act – Not Always Straightforward

The Obama Administration’s focus on criminal trade secret prosecutions under the Economic Espionage Act (EEA) highlights the legal complexities at the murky intersection between criminal and civil jurisprudence in trade...more

SEC Speaks 2016: Enforcement Panels Double Down on Use of Data Analytics

Data collection and analysis continue to impact SEC’s approach to enforcement. The increasing use of data analytics to jump-start investigations and enforcement efforts dominated the panel discussion at this year’s...more

PTC Inc. Reaches $28M Settlement with DOJ and SEC to Resolve China FCPA Allegations

On February 16, 2016, two Chinese subsidiaries of Massachusetts-based software company PTC Inc. (“PTC”) entered into a non-prosecution agreement with the U.S. Department of Justice (“DOJ”) and will pay $14.54 million to...more

Spoofing Is No Joke: Prosecutors Clamp Down on High-Frequency Traders

On November 3, 2015, an Illinois federal jury convicted Michael Coscia, a high-frequency commodities trader, of six counts of commodities fraud and six counts of spoofing—entering a buy or sell order with the intent to cancel...more

Prosecutors Record First-Ever Conviction for ‘Spoofing’: A New Era of Trading Enforcement

Asset managers and other traders should expect aggressive anti-spoofing enforcement and consider reviewing their trading practices in light of this most recent development. On November 3, 2015, a federal jury in...more

SEC Freezes Hacker’s Assets

Federal oversight related to hacking recently made headlines when a federal court in New Jersey granted the Securities and Exchange Commission’s (SEC’s) motion to freeze assets connected to a hedge fund manager accused of...more

Unprecedented Hacking and Trading Scheme Highlights Key Cybersecurity Lessons

On Aug. 11, 2015, federal prosecutors in the District of New Jersey and the Eastern District of New York unsealed indictments against nine individuals in the U.S. and Ukraine who were allegedly involved in a five-year,...more

Insider Trading Hack was Cinematic in Scope

The U.S. Department of Justice announced indictments in Brooklyn and New Jersey last month of 32 people for fraudulently obtaining inside information and then using that knowledge to make millions in the market, in the...more

Also In the News - Data, Privacy, & Security Practice Report - August 2015

King & Spalding Client Alert On Unprecedented Hacking And Trading Scheme — On August 11, 2015, prosecutors in the District of New Jersey and the Eastern District of New York unsealed indictments against several individuals...more

Unprecedented Hacking and Trading Scheme Highlights Important Cybersecurity Lessons - DOJ and SEC charge hackers and traders after...

On August 11, 2015, federal prosecutors in the District of New Jersey and the Eastern District of New York unsealed indictments against nine individuals in the United States and Ukraine who were allegedly involved in a...more

New Twist on Insider Trading

Two federal indictments this week revealed a new approach to an old crime. The indictments returned in New Jersey (United States v. Turchynov et al., Case No. 2:15-CR-390) and the Eastern District of New York (United States...more

SEC, Insider Trading and Cyber Security: An International Hacking—Insider Trading Ring

Cyber security is a key focus for virtually everyone these days. The SEC, for example, has been issuing releases discussing disclosure requirements and offering guidance for a number of years. Prominent issuers have reported...more

Back in a Flash: Sergey “Flash Boy” Aleynikov Returns to Court for New Trial

Sergey Aleynikov’s six-year odyssey through the U.S. judicial systems—both federal and state—continues.  Last week, Aleynikov stepped into a New York State courtroom to defend himself at trial against a pair of criminal...more

Heard at the SIFMA Conference

Recently, partners from K&L Gates’ Government Enforcement, Broker-Dealer and Investment Management practice groups attended the Securities Industry and Financial Markets Association’s (“SIFMA”) Compliance and Legal Society...more

Red Notice Newsletter - March 2015

Welcome to the March 2015 edition of Red Notice, a publication of Akin Gump Strauss Hauer & Feld LLP. This month on the anticorruption front, two individuals receive multi-year sentences for Venezuelan bribery,...more

"United Kingdom: The SFO Focuses on Corporate Fraud and Corruption"

Once the subject of speculation regarding its possible consolidation with other agencies, the Serious Fraud Office (SFO) had an exceedingly busy 2014, with all signs suggesting that it will continue its aggressive enforcement...more

Chicago Court Hands Out Harsh Sentences for Hedge Fund Trade Secret Theft

Following earlier plea agreements, “Ben” Pu (“Pu”) and Sahil “Sonny” Uppal (“Uppal”) were sentenced today for stealing trade secrets related to high-frequency trading platforms from Chicago-based hedge fund Citadel. In what...more

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