News & Analysis as of

Cease and Desist Orders

Delaware Chancery Court Dismisses Caremark Claim For Failure To Adequately Allege That The Board Consciously Disregarded FCPA...

by Shearman & Sterling LLP on

On June 16, 2017, Vice Chancellor Tamika Montgomery-Reeves of the Delaware Court of Chancery dismissed breach of fiduciary duty and other claims brought derivatively against the directors and former chief financial officer of...more

PTAB Invalidates Two Cisco Patents Found Valid and Infringed at the ITC

The Patent Trial and Appeal Board (“PTAB”) issued Final Written Decisions regarding Cisco’s U.S. Patent Nos. 6,377,577 (the “’577 Patent”) and 7,023,853 (the “’853 Patent”) on May 25, 2017 and U.S. Patent No. 7,224,668 (the...more

ITC Commissioners Remain Split on Cease and Desist Orders

by Jones Day on

We previously wrote about the ITC Commissioners’ split on the standard for the issuance of cease and desist orders. In recent opinions, Commissioners Schmidtlein and Kieff have written separately to express their view that...more

Court orders condo owner who harassed building management staff to cease and desist. OHSA harassment provisions applied

by Dentons on

A condominium owner who called building management staff offensive and degrading names has been ordered by a judge to cease and desist from harassing them. The decision shows that the Ontario Occupational Health and Safety...more

ITC Commissioners Divided Over Standards For Cease And Desist Orders

Recent decisions by the Commission highlight a split among the Commissioners over the proper standard for issuing cease and desist orders. The majority of Commissioners appear to agree that the determination regarding...more

ITC Section 337 Update – March 2017

by King & Spalding on

Commission Reverses ALJ’s Dismissal Of U.S. Steel’s False Designation Of Origin Claim And Sets Hearing On U.S. Steel’s Antitrust Claim In Certain Carbon Steel; U.S. Steel Withdraws Trade Secret Theft Claim – 2017 has produced...more

SEC Opens Cease-and-Desist Order Proceeding against Broker-Dealer and Chief Compliance / AML Officer

by McGuireWoods LLP on

As we have highlighted in prior posts, regulators of financial institutions, including FinCEN, FINRA and SEC, have increasingly brought actions to bring organizations – and individuals – into compliance with AML / BSA...more

Developments in Disclosure of Financial Advisor Fees in M&A Transactions

by Dechert LLP on

Recent developments, including the U.S. Securities and Exchange Commission settlement with CVR Energy and related SEC Staff guidance, reinforce a trend towards more extensive disclosure of financial advisor fees in M&A...more

Checking In On ITC Pilot Program For Redesigns

by Morrison & Foerster LLP on

Since February 2015, when the U.S. International Trade Commission announced its pilot program for expedited rulings on whether ITC exclusion and cease-and-desist orders cover redesigns or new products, the commission has...more

First ‘Trial of the Century’ and the SQM FCPA Enforcement Action – Part II

by Thomas Fox on

Today I conclude my two-part series on the recent Foreign Corrupt Practices Act (FCPA) enforcement action involving the Chilean chemicals and mining company Sociedad Química y Minera de Chile (SQM), which agreed to pay a...more

A ‘Most Daring Act’ and the SQM FCPA Enforcement Action – Part I

by Thomas Fox on

A most “daring act” seems to be a good way to introduce a multi-part look at the recent Foreign Corrupt Practices Act (FCPA) enforcement action involving the Chilean chemicals and mining company Sociedad Química y Minera de...more

TCPA Violations Claimed Against Rady Children’s Hospital in San Diego

Rady Children’s Hospital-San Diego (Rady) was hit with a proposed class action in California federal court this week for alleged violations of the Telephone Consumer Protection Act (TCPA) for autodialed debt-collection calls...more

SEC Sanctions Broker For No Procedures and then Inadequate Procedures

by Dorsey & Whitney LLP on

The Commission has brought an increasing number of enforcement actions focused on either a failure to comply with firm procedures or for inadequate procedures. In many instances the actions arise from inspections by OCIE. The...more

Three Point Shot - February 2017

by Proskauer Rose LLP on

Ski Manufacturer Chills Bode Miller's Comeback - World champion skier and six-time Olympic medalist Samuel "Bode" Miller had his eye on coming out of retirement for the 2016-17 season before a contract dispute with his...more

IA Sanctioned Based On Risk Areas In OCIE Alert

by Dorsey & Whitney LLP on

The Commission’s inspection staff – OCIE – issued an Alert about its national inspection program earlier this week, highlighting risk areas for investment advisers. Any adviser facing an inspection would do well to review the...more

ITC Scrubs Domestic Industry Holding In Brushes Investigation

by Jones Day on

On February 7, 2017, the ITC issued a Notice modifying the ALJ’s Initial Determination in Certain Electric Skin Care Devices, Brushes and Chargers Therefor, and Kits Containing Same, ITC Inv. No. 337-TA-959 and issuing...more

ITC Proceedings under the Pilot Program for Redesigns and New Products

Since February 2015, when the ITC announced its Pilot Program for expedited rulings on whether ITC exclusion and cease-and-desist orders cover redesigns or new products, the Commission has issued four decisions under the...more

Not Correctly Reporting Losses: An Internal Controls Failure

by Thomas Fox on

A recent Securities and Exchange Commission (SEC) internal controls enforcement action drew my attention. It was not a Foreign Corrupt Practices Act (FCPA) enforcement action but it certainly does have implications for a...more

Landmark decision of the German Federal Supreme Court: Cease and desist orders comprise the obligation to recall infringing...

by Hogan Lovells on

BGH, 29th September 2016 – I ZB 34/15, published on the 10th January 2017 - The German Federal Supreme Court decided on the 29th September 2016, published on the 10th January 2017, to the surprise of many that a cease...more

Port Authority of New York and New Jersey to Settle SEC Disclosure Law Violations - Agrees to Admit Wrongdoing and Pay Penalty for...

by Holland & Knight LLP on

The U.S. Securities and Exchange Commission (SEC) announced on Jan. 10, 2017, that the Port Authority of New York and New Jersey (Port Authority) agreed to admit wrongdoing and pay a $400,000 penalty in connection with...more

A Company Must Do Compliance – The Mondelez FCPA Enforcement Action

by Thomas Fox on

In almost every Foreign Corrupt Practices Act (FCPA) enforcement action, there are nuggets to be gleaned for any Chief Compliance Officer (CCO) or compliance practitioner. All one has to do is look for them. Back in 2012,...more

2016 – A Bad Year For Bad Guys in Energy

by Gray Reed & McGraw on

Let’s look back at a cavalcade of crooks, criminals and miscreants who met up with justice in 2016. We do it to be reminded of the others who will be lurking in the 2017 shadows....more

General Cable FCPA Enforcement Action – Part II: The Comeback

by Thomas Fox on

Yesterday I began an exploration of the General Cable Corporation (General Cable) Foreign Corrupt Practices Act (FCPA) enforcement action. It was settled with the DOJ via a Non-Prosecution Agreement (NPA) and the SEC via a...more

General Cable FCPA Enforcement Action – Part I: The Bribery Schemes

by Thomas Fox on

The Department of Justice (DOJ) and Securities and Exchange Commission (SEC) continued their stunning run of 2016 Foreign Corrupt Practices Act (FCPA) enforcement actions right up to the end of the year with the announcement...more

T’Was the Week After Christmas: General Cable and Mexico Aviation FCPA Prosecutions

by Michael Volkov on

You know this has been a big year in FCPA enforcement when DOJ and the SEC announce two FCPA settlements during the usually sleepy week between Christmas and New Years. And what a year it has been – more to follow in my...more

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