Enforcement Actions Compliance

News & Analysis as of

SciClone Pharmaceuticals: A Textbook Case of FCPA Violations for Gifts, Meals, Entertainment and Travel

The Securities and Exchange Commission continues its steady march as the prominent FCPA enforcement agency against corporations.  The Justice Department has not brought any enforcement actions this year and continues to...more

Reflections on the SEC- FCPA Enforcement Action Against SAP

The Foreign Corrupt Practices Act (FCPA) enforcement journey, which began last summer with the guilty plea of Vicente Garcia for the payment of bribes to obtain contracts in Panama for his employer, SAP International, ended...more

SEC’s First Whistleblower Award to Company Outsider: Game Changer?

The headlines lit up this month when the Securities and Exchange Commission (SEC) issued its first-ever award to a whistleblower who wasn’t employed by the company on which he had blown the whistle. The award was a...more

Health Care Enforcement in 2016: A Look Back on 2015 and Forecasting the Year Ahead

2015 was a year of transition for the U.S. Department of Justice (“DOJ”), with the installation of a new Attorney General, Deputy Attorney General, and several other high-level officials. In January 2015, Andrew Weissmann...more

State Attorneys General Investigations and Enforcement: What to Expect in 2016

In recent years, state Attorneys General (“state AGs”) have significantly increased their investigative and enforcement efforts across a wide range of industries and matters, and these new efforts present a growing challenge...more

The Person (Idea) of the Year – Corporate Ethics and Culture

Each year I have identified the so-called “person” of the year to capture the most significant enforcement and compliance trend. In the past, I have given the award to the Chief Compliance Officer, the Ethics Officer, the...more

FCPA Year for the DOJ in 2015

Foreign Corrupt Practices Act (FCPA) enforcement by the Department of Justice (DOJ) was a bit different in 2015 than the preceding years. Obviously the record fines and penalties of 2014 dropped considerably. Further, there...more

FCPA Enforcement Actions from 2015: SEC – Part II

Yesterday, I began a review of Foreign Corrupt Practices Act (FCPA) enforcement actions by the Securities and Exchange Commission (SEC) where there were no parallel Department of Justice (DOJ) enforcement actions. Today I...more

Top Ten International Anti-Corruption Developments for November 2015

In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important international anti-corruption developments in the past month, with links to primary...more

SEC Enforcement Chief Andrew Ceresney Discusses CCO Liability

On November 4, 2015, Andrew Ceresney, director of the Securities and Exchange Commission’s (SEC’s) Division of Enforcement (Enforcement Division), delivered the keynote address at the 2015 National Conference of the National...more

Financial Services Weekly News - December 2015 #2

Regulatory Developments - FINRA Proposes to Adopt Capital Acquisition Broker Rules - On Dec. 4 FINRA filed with the SEC a proposal to create a separate rule set that would apply to firms that meet the definition of...more

The UK Bribery Act Enters a New Enforcement Era

For years, companies and compliance professionals have largely dismissed UK Bribery Act enforcement risks. Ever since the effective date for the UK Bribery Act, defense lawyers have been waiting for the SFO to begin serious...more

This Week In Securities Litigation

This was the period of admissions. The SEC secured admissions in three actions over the period with beginning the week of Thanksgiving and continuing into the beginning of December. Cases filed during the period include: A...more

A Compilation of Enforcement and Non-Enforcement Actions

Non-Enforcement - A Source of Concern for the SEC — The Outsourcing by Investment Advisers and Funds of Compliance Activities - In a recent National Exam Program Risk Alert (dated November 9, 2015) the U.S....more

SEC Demands Admissions For Compliance Failures

When the Commission adopted its policy of requiring admissions to settle certain enforcement actions no bright line test was created. Rather, an array of facts were to be assessed on an individual, case-by-case basis....more

Upping the Ante: Cybersecurity, the SEC and the Perils of Being Unprepared

The U.S. Securities and Exchange Commission is finally getting serious about cybersecurity – and for good reason. If the ever-growing business and headline risks aren’t enough to scare investment advisers and broker-dealers...more

Corruption Risk and Prosecution are Real and They are not Going Away

On November 11, the The Wall Street Journal ran a story with a fairly provocative headline: "U.S. Justice Department Makes Radical Shift on Foreign Bribery Enforcement." Whether DOJ is making a radical shift or not, corporate...more

Investment Management Legal + Regulatory Update - November 2015

Regulation - OCIE Cautions Advisers on Outsourcing Compliance Activities: In a Risk Alert dated November 9, 2015, the SEC’s Office of Compliance Inspections and Examinations (OCIE) said it found that outsourced...more

Federal Reserve and New York DFS Take Action Against Canadian Bank for Deficiencies Relating to AML Compliance

On November 10, the Federal Reserve and the New York DFS announced an enforcement action against a Canadian bank for alleged deficiencies relating to its BSA/AML compliance program. In order to resolve the allegations, the...more

FCPA Enforcement — Corporate Crime and Punishment

The Justice Department’s reexamination of corporate incentives to disclose violations appears to be in reaction to the steady escalation of cooperation requirements. In response to these extra burdens, DOJ could be concerned...more

Caldwell Lays It Out – DOJ Metrics for a Compliance Program

Last week Assistant Attorney General Leslie R. Caldwell spoke at the SIFMA Compliance and Legal Society New York Regional Seminar. In this speech she discussed the new Department of Justice (DOJ) Compliance Counsel. While...more

FTC Launches “Operation Collection Protection” to Target Debt Collection Practices

On Wednesday, November 4, the Federal Trade Commission announced the largest-ever-coordinated federal-state enforcement initiative targeting allegedly deceptive and abusive debt collection practices. The initiative,...more

SEC Discusses Criteria for Charging Chief Compliance Officers

In remarks before the 2015 National Society of Compliance Professionals, National Conference, Andrew Ceresney, Director, SEC Division of Enforcement, outlined the type of criteria used to charge Chief Compliance Officers with...more

Preview of NAVEX Global’s 2015 Ethics and Compliance Virtual Conference

As 2015 draws to a close (where did the time go?), the 2016 planning season is in full swing. You likely already have an idea of initiatives you’ll want to tackle, but taking your ethics and compliance program to the next...more

Australian Anti-Bribery & Compliance Trends

Today we welcome Ted Williams, Partner, Piper Alderman. Ted, can you share some of your background and experience? TW: Thank you, Richard, for the opportunity to engage with your community, and it was a pleasure to...more

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