Enforcement Actions Dept. of Justice

News & Analysis as of

Settlement Reached in Forex Lawsuit

For the past few weeks, it has been reported through various outlets that at least five banks were in negotiations with the U.S. Department of Justice (DOJ) and the U.K. Financial Conduct Authority (FAC) to settle...more

Department of Justice Settles Virtual Currency Enforcement Action

The US Attorney’s Office in the Northern District of California recently settled an enforcement action against Ripple Labs Inc., a Delaware corporation providing virtual currency exchange services. According to the settlement...more

Cross-Border Investigations Update - May 2015

In This Issue: - Recent Prosecutions and Settlements: FCPA Enforcement Trends and Developments: Recent U.S. Foreign Corrupt Practices Act enforcement trends include the growing importance of corporate...more

DOJ Criminal Cartel Enforcement: Six-Month Summary, Part II

This is the second installment in our coverage of the DOJ’s recent criminal cartel enforcement actions. Over the last six months, more than fifty individuals have pleaded guilty as a result of the DOJ’s antitrust...more

PHMSA Steps Up Review of Pipeline Construction

Enforcement Focus on 60-Day Notification Requirement - The Pipeline and Hazardous Materials Safety Administration (PHMSA) has stepped up enforcement efforts concerning pipeline and LNG terminal construction....more

The (Relatively) “New” Model for Corporate Criminal “Investigations” (Part I of IV)

The Justice Department continues to be dogged by questions surrounding its conduct of criminal investigations. These concerns are being raised in the context of extreme cynicism given DOJ’s “failure” to prosecute individuals...more

Current Developments and Future Trends in False Claims Act Litigation

This past year marked another wildly successful year for the Department of Justice (DOJ) in recovering nearly six billion dollars as a result of False Claims Act (FCA) enforcements, settlements and qui tam whistleblower...more

Justice Department Announces Second Swiss Bank Resolution

On May 8, 2015, the Justice Department announced publicly that it had reached resolution with Vadian Bank AG, of St. Gallen, Switzerland. This announcement marks only the second such resolution that the government has...more

Top Ten International Anti-Corruption Developments for April 2015

1. Criminal Division AAG Promises Increased Transparency in Corporate Charging Decisions. In an April 17, 2015 speech at New York University Law School’s Program on Corporate Compliance and Enforcement, Leslie Caldwell,...more

April Whistleblower News Digest | Consider Targeted Anti-Retaliation Training as part of Your Ethics and Compliance Training...

If April showers bring May flowers, then May is going to be a veritable hurricane of whistleblower-related fines (and also pollen). Our first three items come to us from the SEC, with awards and fines galore, most notably the...more

Business Litigation Report - May 2015

In This Issue: - Main Article: ..Insider Trading After United States v. Newman, the Second Circuit’s Landmark Decision Limiting Liability of Downstream Recipients of Insider Information - Noted With...more

The Announcement of Criminal Charges against Lumber Liquidators Underscores the Need for Lacey Act Compliance

On Wednesday, April 29, 2015, Lumber Liquidators announced in its most recent 10Q that the United States Department of Justice plans to pursue criminal charges surrounding allegations the company illegally imported wood in...more

Bridging the Week - May 2015

CME Group Summarily Suspends Trading Privileges of Two Traders Without Hearing for Alleged Spoofing and Non-Cooperation - Less than two weeks after civil and criminal charges were filed by the Commodity Futures Trading...more

Schlumberger OFAC Enforcement Action – A New Threat?

I have been writing lately about the rise of OFAC sanctions enforcement. OFAC and the Justice Department have started to build a close working relationship similar to that between the SEC and the Justice Department relating...more

Insider Trading After United States v. Newman, the Second Circuit’s Landmark Decision Limiting Liability of Downstream Recipients...

The Second Circuit recently dealt a major setback to federal prosecutors’ recent crackdown on insider trading, overturning two high-profile convictions and simultaneously placing the most significant new limits on insider...more

Inspections Expose Unsafe Product Imports

The United States Department of Justice recently filed a product liability lawsuit in federal court against Toys Distribution Inc., BLI Apparel Inc., All Seasons Sales Inc. and S&J Merchandise Inc., as well as six of the...more

When it Comes to Crop Insurance, the FCA Bears Fruit

The federal crop insurance program is an often overlooked area of potential liability under the False Claims Act (“FCA”). The program, which is governed by a substantial body of regulatory law, is subject to intense...more

Antitrust Enforcers Discuss Recent Highlights, Ongoing Cases, Enforcement Priorities and General Trends at the 2015 ABA Section of...

The American Bar Association (ABA) Section of Antitrust Law Spring Meeting concluded earlier this month with the traditional “Enforcers’ Roundtable,” an interview with leading competition authorities about recent highlights,...more

DOJ and International Investment Bank Enter Into Plea Agreement to Resolve LIBOR Manipulation Claims, Bank Agrees to Pay $2.5...

On April 23, the DOJ announced that an international investment bank and its subsidiary agreed to plead guilty to wire fraud for its alleged conduct, spanning from 2003 through 2011, in manipulating the London Interbank...more

Governance & Securities Law Focus: Asia Edition - April 2015

In this issue: - SEC Developments - Noteworthy US Securities Law Litigation - Recent SEC/DOJ Enforcement Matters - Executive Compensation & Employee Benefits Developments - Adoption of...more

Deutsche Bank Settles LIBOR Charges With FCA, DOJ, CFTC, NY State

Deutsche Bank paid $2.519 billion in fines and disgorgement, a subsidiary pleaded guilty to criminal charges and the parent entered into a three year deferred prosecution agreement which requires a monitor to resolve charges...more

CPSC & DOJ Sue Michaels Stores for Failing to Report Product Safety Hazard and Filing Misleading Information

For the first time in recent memory, the Department of Justice (DOJ) and Consumer Product Safety Commission (CPSC) jointly announced the filing of a lawsuit in federal court for the imposition of a civil penalty and...more

FCPA Enforcement – Watching the Enforcement River Flow

FCPA investigations are complex, time-intensive and far-reaching. They take time and resources. DOJ and the SEC have been criticized lately for failing to move their cases in a timely fashion. Criminal Division AAG Leslie...more

Between Bridges - April 2015

Navinder Singh Sarao, a London-based trader, was arrested at his home in the United Kingdom on April 21, 2015, and accused by both the US Commodity Futures Trading Commission and the US Department of Justice of engaging in...more

Southern District Allows SEC Insider Trading Case to Proceed, Distinguishing Newman

A recent decision from the United States District Court for the Southern District of New York allowing a U.S. Securities and Exchange Commission (SEC) civil enforcement action to proceed against two former stockbrokers for...more

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