Enforcement

News & Analysis as of

The Deeper Dive: C-Suite to Prison Pipeline

In recent years, the U.S. Department of Justice (DOJ) has been criticized for failing to prosecute executives for fraud, particularly in the financial sector. In response, the DOJ has begun to more heavily emphasize...more

Truth in Advertising - An Overview of Recent Contraventions of the Misleading and Deceptive Conduct Provisions of the Australian...

The Australian Competition and Consumer Commission (ACCC) continues to focus on misleading and deceptive advertising and communication strategies adopted by businesses selling products and services as an enforcement priority....more

The rise of cross-border antitrust investigations: US, Canada and Mexico enforcers meet to discuss even closer collaboration

Antitrust investigations are no longer limited to a nation’s borders, or even to a region. Enforcers are more and more sharing information and coordinating their investigative efforts as they strive to uniformly enforce the...more

Merchants and Processors Beware: FTC Consumer Warning About Use of Bitcoin and Other Cryptocurrencies Is a Warning to You Too

The June 22 FTC blog posting warning consumers about the use of bitcoins and other virtual currencies should be a call to action for those accepting or facilitating the acceptance of bitcoin and other virtual currencies in...more

This Week In Securities Litigation

The SEC brought another custody rule action this week – against the outside auditors alleging that one examination was insufficient and the others incomplete thereby causing the client to violate the surprise audit...more

FinCEN’s Associate Director for Enforcement Delivers Remarks at BSA Conference

On June 18, FinCEN’s Associate Director for Enforcement, Stephanie Brooker, delivered remarks at the Bank Secrecy Act Conference, focusing on three main areas: (i) BSA filing trends, the value of BSA data, and compliance...more

The Microeconomic Perspective on Bribery Incentives

I always enjoyed economics – understanding “rational” behavior and applying it to business situations can be very productive. Of course, there were many detractors who argued that economics is filled with assumptions that...more

Financial Services Weekly News Roundup - June 2015 #4

Regulatory Developments - Client Alert: SEC Proposes Pay for Performance Rules: Goodwin Procter’s Capital Markets practice has issued a Client Alert on the SEC’s proposed rule that would require most public...more

Despite 1st Administrative Appeal, CFPB Seeks Out Courts

On June 4, 2015, Consumer Financial Protection Bureau Director Richard Cordray issued a decision in the first appeal of a CFPB administrative proceeding. The appeal to Director Cordray followed the CFPB's first administrative...more

FinCEN Enforcement Stacks the Deck in AML Compliance for Casinos and Card Clubs

Stephanie Booker, Associate Director for Enforcement, Financial Crimes Enforcement Network (“FinCEN”), recently gave a speech at the Nevada Bar Association’s Bank Secrecy Act Conference in Las Vegas. Involved in the...more

AML Compliance Expectations Unabated—Fines, Enforcement Actions and a Deferred Prosecution Agreement Against Banks, Money...

Why it matters - Three Financial Crimes Enforcement Network (FinCEN) orders, three sets of fines and asset forfeitures, a deferred prosecution agreement and one bank enforcement action demonstrate the resolve of the...more

Letter from America: Non-Us Companies And Executives At Risk From Us RICO Law

More frequently than ever before, American plaintiffs and prosecutors are using U.S. laws to target conduct that has little, if any, connection to the United States. Potential exposure to criminal and civil liability under...more

CFPB Increasingly Aiming “Abusiveness” Claims at Servicemember Products and Services

Are servicemembers more financially vulnerable than the civilians they protect? Recent enforcement actions suggest that, in the CFPB’s view, they are. While the Servicemembers Civil Relief Act (SCRA) provides more financial...more

Is Your Financial Institution the Next Target of a Cyber-Attack?

In This Presentation: - Regulatory expectations for financial institutions - Risks for financial institutions - Planning to reduce risks - The Breach - Duties and responsibilities -...more

A New Era of HIPAA Enforcement

Traditionally, HIPAA enforcement is assigned to the Department of Health and Human Services’ Office for Civil Rights (OCR). In November 2013, Health and Human Services’ Office of Inspector General sharply criticized OCR’s...more

Oregon to Become the Latest State to Ban the Box

On June 16, 2015, the Oregon House passed an amended version of House Bill 3025, which will prohibit most employers from asking questions about criminal history on job applications or at any other point in the hiring process...more

Recall, Enforce, Repeat! CPSC and DOJ Team Up for Another Enforcement Action

The United States Consumer Product Safety Commission (CPSC) continues to escalate its enforcement efforts. Last week, the United States Department of Justice, on behalf of CPSC, filed suit against Spectrum Brands, Inc....more

Alert: Department Issues New Dear Colleague Letter on State Authorization

On Friday, June 19, 2015, the US Department of Education ("ED" or "the Department") issued a Dear Colleague Letter (GEN-15-10) ("DCL") reminding institutions that the current state authorization requirements (34 CFR § 600.9)...more

Cyber Security - Risk Management and Mitigation

In This Issue: - Agenda - Current Threat Environment - Current Threat Environment - Strategic Importance - Asian Data Privacy Regimes At-A-Glance - Data Protection: Regional temp - Asia-Pacific...more

FCC Finds Fault in User Agreement and Issues Stern Guidance for Telemarketing Calls

June is proving to be a very active month for the US Federal Communications Commission (FCC) in construing the Telephone Consumer Protection Act, including what sorts of consumer interactions are sufficient to meet the...more

Small Local Bank Agrees to $4.5 Million Penalty for Ineffective Anti-Money Laundering Program and Structured Transactions

On June 15, multiple federal agencies issued a $4.5 million penalty against a local bank that admitted to failing to maintain an effective anti-money laundering program. The coordinated enforcement action by multiple agencies...more

Latest Medicare Fraud Strike Force Takedown Is The Most Significant To Date

As we discussed yesterday, the Medicare Fraud Strike Force’s eighth annual nationwide takedown resulted in charges in 17 districts against 243 individuals for approximately $712 in false billings. It is the most...more

ICN Adopts New Guidance Focusing on Investigative Process and International Cooperation in Mergers

From April 28 through May 1, the International Competition Network (ICN) held its 2015 annual conference. The ICN is a network that unites 132 competition watchdogs from 119 jurisdictions, including the Antitrust Division of...more

FCC Signals Enforcement of TCPA "Prior Express Written Consent" Rules

In a letter published on June 11, 2015, the Federal Communications Commission's (FCC) Enforcement Bureau expressed "serious concern" about PayPal's use of a website user agreement to obtain prior express written consent to...more

Financial Services Weekly News Roundup - June 2015 #3

Regulatory Developments - CFTC Provides No-Action Relief from Introducing Broker and Commodity Trading Advisor Registration to Non-U.S. Persons Who Advise on or Facilitate Swaps Transactions for Certain International...more

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