News & Analysis as of

OSC Credit for Cooperation - Continued Uncertainty for Market Participants with Respect to Privilege

On March 13, 2014, the Ontario Securities Commission (OSC) released its revised Credit for Cooperation Program via OSC Staff Notice 15–702. As pointed out in our recent client update (OSC Adopts New Initiatives to Strengthen...more

Japanese Trading Company Pleads Guilty In DOJ FCPA Enforcement Action

On March 19, the DOJ announced that Marubeni Corporation, a Japanese trading company, agreed to plead guilty to violating the FCPA by participating in a seven-year scheme to bribe high-ranking government officials in...more

Foreign Corrupt Practices Act Enforcement Activity: 2013 Year in Review and 2014 Preview

The 2013 calendar year saw several significant developments in the enforcement of the Foreign Corrupt Practices Act (FCPA). The United States Department of Justice (DOJ) and Securities and Exchange Commission (SEC) combined...more

Department of Justice Cites Poor Compliance Program and Lack of Cooperation in Extracting Significant FCPA Penalties in Marubeni...

The importance of a company’s response to a Department of Justice (“DOJ”) investigation into possible violations of the Foreign Corrupt Practices Act (“FCPA”) was highlighted last week when Marubeni Corporation (“Marubeni”)...more

Medical Device Manufacturer Settles False Billing Allegations for up to $5.25 Million

On February 19, 2014, the DOJ announced it reached a settlement with EndoGastric Solutions, Inc. (EndoGastric) to resolve a pending False Claims Act (FCA) suit. EndoGastric manufactures and sells a medical device called...more

FCPA Snapshot – 2013

SUMMARY - Foreign Corrupt Practices Act (FCPA) enforcement activity in 2013 was robust, with DOJ and the SEC bringing 31 new FCPA enforcement actions, exceeding 2012’s total of 25. Total penalties amounted to more than...more

First Enforcement Action of "Operation Choke Point"

In a move that has since stirred up controversy on Capitol Hill, the United States Department of Justice (DOJ) in January filed an enforcement action and entered into a consent order with Four Oaks Bank & Trust Company, a...more

Chicago Enforcement Officials Discuss 2014 SEC & DOJ Priorities: New Regime At SEC Takes A Page From The Prosecutors’ Playbook

Enforcement officials from the U.S. SEC’s Chicago Regional Office and the U.S. Attorney’s Office for the Northern District of Illinois gathered to discuss their enforcement initiatives at the “SEC & DOJ Hot Topics 2014”...more

Full Commission of the FTC Overrules FTC Administrative Law Judge, Largely Dismissing An Action Against McWane

On February 6, 2014, the Federal Trade Commission (FTC) dismissed the majority of its claims against McWane, Inc., the leading domestic supplier of ductile iron pipe fittings used in water distribution systems in the United...more

Brother Can You Spare $8.9 Billion? Making Sense of SEC Civil Money Penalties

If you or your company has ever been involved in a long SEC enforcement investigation, you’ve probably gone through the five stages of grief?denial that you did anything wrong, anger that the enforcement lawyers are pursuing...more

2014 Trends: #10 Expanding Use of DPAs and NPAs

The day has arrived. Today we’ll cover our last trend to watch in 2014: DPA and NPA use expanding. Since they were first used in 2000, the U.S. DOJ has disclosed 257 Deferred Prosecution Agreements (DPAs) and Non-Prosecution...more

Healthcare Enforcement Actions and Trends: 2013 Overview

The Department of Justice (DOJ) and the Office of Inspector General for the U.S. Department of Health and Human Services continued aggressive enforcement of the healthcare industry in 2013. Officials employed a variety of...more

Automobile Dealer Trade Group Issues Guidance In Response to Recent CFPB Enforcement Action

In response to a recent joint enforcement action by the CFPB and Department of Justice alleging violations of the Equal Opportunity Credit Act, and its implementing regulation, Regulation B, the National Automobile Dealers...more

The FCPA And Fight Against Terrorism

I admit it took me awhile to finally get it. I have long wondered what could have caused the explosion in Department of Justice (DOJ) and Securities and Exchange Commission (SEC) enforcement of the Foreign Corrupt Practices...more

"Antitrust and Competition: Nonmerger Enforcement Activity Heats Up on Both Sides of the Atlantic"

U.S. and European antitrust agencies had similar enforcement priorities last year, a trend we expect to continue in 2014. Nonmerger enforcement will continue to focus on intellectual property, financial services and...more

"Government Enforcement: Aggressive Efforts Continue Around the Globe"

Government enforcement efforts in 2013 produced major settlements of matters relating to the global financial crisis, high-profile insider trading convictions, near-record amounts of FCPA settlements, and new pledges of...more

The Sussex Vampyre And The ADM FCPA Settlement

Today I want to use the story of The Sussex Vampyre as the starting point for an inquiry into the recent Archer-Daniels-Midland Corp (ADM) Foreign Corrupt Practices Act (FCPA) enforcement action. In the story, Holmes receives...more

Healthcare Fraud Recoveries at All-Time High Since 2009

Fiscal year 2013 marked the fourth consecutive year in which the Department of Justice has recovered at least $2 billion from cases involving charges of healthcare fraud. Make no mistake: these record-setting yields were no...more

False Claims Act Whistleblower Bounties Exceed $345 Million in Fiscal Year 2013

The DOJ has released its Fiscal Year (“FY”) 2013 totals for civil settlements and judgments recovered under the federal False Claims Act (“FCA”). To say that the Department had a successful year in prosecuting fraud against...more

"Antitrust and Competition: Surveying Global M&A Enforcement Trends"

US: Agencies Continue Aggressive Enforcement - Despite changes in leadership at the U.S. Department of Justice’s (DOJ) Antitrust Division and the Federal Trade Commission (FTC) (collectively, the Agencies) in 2013, the...more

Follow The Bouncing Ball – Tracking DOJ Investigations

Looking back on 2013, the Department of Justice and SEC had a strong enforcement year. It is interesting to analyze how prosecutors exercised their discretion – what industries were subjects of FCPA investigations? ...more

DOJ, SEC Announce Anti-Bribery Enforcement Actions Against U.S. Metals Firm

On January 9, the SEC and the DOJ announced the resolution of parallel FCPA enforcement actions against a major U.S. extractive industries firm and one of its subsidiaries. The actions related to improper payments to...more

ArthroCare to Pay $30 Million Fine to Settle DOJ Probe

On January 7, Texas-based surgical instrument maker ArthroCare Corp. entered into a deferred prosecution agreement (DPA) to resolve a six-year-long US Department of Justice (DOJ) investigation into allegations of a $400...more

The Foreign Corrupt Practices Act—A Look Back at 2012 and 2013

Over the last two years, enforcement of the Foreign Corrupt Practices Act (“FCPA”) has remained a priority of the U.S. Department of Justice (“DOJ”) and Securities and Exchange Commission (“SEC”). That emphasis is likely to...more

Here We Come . . . Walking Down [Wall Street] – More “Aggressive” AML Enforcement On The Horizon

I always say that the government does not enforce the laws in secret – they tell business what they plan to do and then they carry it out. The announcement of an enforcement initiative is always followed by a series of press...more

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