White Collar Watch - October 2012


In This Issue:

- SEC Issues Cease and Desist Order Against Goldman Sachs for Pay-to-Play Violations page 1 - 3

- A Change in Tack: The Government Turns its Attention Away from Pharmaceutical Companies and Toward Medical Device Manufacturers page 3

- Money Laundering and the Risks Associated With Being an Accomplice to Financial Fraud page 4 - 5

- IRS Whistleblower Claims Increase After Whistleblower Convicted in Tax Scheme Receives Record-Setting $104 Million Award page 5 -7

- Excerpt from SEC Issues Cease and Desist Order Against Goldman Sachs for Pay-to-Play Violations By Justin B. Ettelson:

With campaign season upon us and fundraising efforts by local and national campaigns in full swing, an order issued by the Securities and Exchange Commission (SEC) on September 27, 2012, instituting administrative and cease-and-desist proceedings (Order) against Goldman, Sachs & Co. (Goldman Sachs) for violations of the Municipal Securities Rulemaking Board’s (MSRB) pay-to play rules, is a good reminder for brokers, dealers and municipal securities dealers of the issues and pitfalls associated with making political contributions.

Please see full alert below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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