News & Analysis as of

SEC Settlement: The FCPA Risks of Entering New Markets

Entering into new, international markets may be good for developing business, but it also carries certain risks. This is particularly true in many countries where doing business may include making gifts, paying gratuities and...more

FCPA Mid-Year Assessments

The Internet is littered with FCPA Mid-Year Assessments and reports on enforcement activity and so-called trends and developments. Talk about making mountains out of molehills. Some of the reports are excellent; others are...more

This Week In Securities Litigation (Week ending July 25, 2014)

The Commission issued its long discussed rules reforming money markets this week, requiring that institutional prime money market funds have a floating NAV. The vote was 3-2....more

Global Boardroom Risk Solutions Newsletter

Now more than ever, there is a need for risk solutions in the boardroom. Any organization can be faced with a significant crisis, whether a fraud investigation, a regulatory infringement, allegations of anticompetitive...more

Big Brother Vs. Underfunded Enforcement

On July 5, 2014, in an opinion piece entitled “The Real Internal Revenue Scandal,” the editorial board of The New York Times noted that “every dollar spent on internal revenue service enforcement yields $6 in additional...more

AML BSA and Sanctions Compliance Part II of II June 24, 2014  [Video]

The Department of Justice and the Treasury Department have stepped up AML/BSA and Sanctions Enforcement. With the ever-increasing expansion and modification of sanctions, risks for all businesses, not just financial...more

Shearman & Sterling's Recent Trends and Patterns in the Enforcement of the Foreign Corrupt Practices Act (FCPA)/FCPA Digest

In this issue: - Recent Trends and Patterns in FCPA Enforcement - Recent Trends and Patterns in FCPA Enforcement Enforcement - Actions and Strategies - Statistics - Types of Settlements...more

Expect Focus - Catching The Next Wave, Regulatory and Litigation Developments - Volume II, Spring 2014

In This Issue: - IN THE SPOTLIGHT ..Private Equity: The Next Wave of SEC Enforcement Actions? - LIFE INSURANCE ..How to Fight a STOLI Scheme: Court Rulings Offer Clues ..STOA Schemes Face...more

The CFPB at Year Three: A Look Back, and a Look Forward

In this presentation: - Welcome - How it all began… - Regulatory Updates - Supervision and Examination –? Bank and Nonbank –? Lessons learned, and which markets are next?...more

An In-Depth Look At The EEOC’s New Enforcement Guidance On Pregnancy

This past Monday, July 14, a divided EEOC issued its new guidance, which supersedes the 1983 chapter on pregnancy discrimination in its Compliance Manual. It also issued a Q&A and a Fact Sheet. A lot has happened since 1983,...more

FCPA Training: The Basics [Video]

This webinar provides a basic FCPA training program. A number of webinar attendees have requested that I conduct a basic FCPA webinar outlining how the FCPA statute applies to international business operations. The topics...more

FINRA Targets Broker-Dealer Order Routing and Execution Quality of Customer Orders

The Financial Industry Regulatory Authority (“FINRA”) has initiated a potentially impactful examination of broker-dealer order routing and execution. FINRA recently issued a targeted examination letter ("Order Routing and...more

An XBRL Prod from the SEC

The SEC has been noticeably quiet about XBRL compliance since those regulations were adopted in 2009. In July, however, the staff softly prodded this public company sore spot (think: conflicts mineral sore) with a letter...more

Firms Charged with Both Bribery and Financial Crime Hit Hardest by FCPA Enforcement

Although passed in 1977, the Foreign Corrupt Practices Act (FCPA) was not significantly enforced until 2005. Since then, the U.S. Department of Justice (DOJ) and Securities and Exchange Commission (SEC) have made up for the...more

Offshore Asset Reporting: Rules, Enforcement, and Options for Compliance

In this presentation: -Overview: Reporting Regimes for Offshore Assets -Department of the Treasury: Report of Foreign Bank and Financial Accounts (FBAR) -Form 8938, Statement of Specified Foreign...more

Financial Regulatory Developments Focus - July 2014

In this issue: - Derivatives - Compensation - Regulatory Capital - Credit Ratings - Financial Market Infrastructure - Financial Services - Funds - Enforcement...more

SEC Charges Tied to the Lack of An Algorithm

High speed trading and the use of algorithms is a key topic of debate. An investment strategy centered on an algorithm for use in the currency markets is at the center of a settled administrative proceeding filed by the...more

This Week In Securities Litigation (Week ending July 3, 2014)

In a holiday shortened week, dark pools were again a focus for regulators. This week FINRA sanctioned Goldman Sachs in connection with the operation of its dark pool....more

Private Fund Update - June 2014 #2

In this issue: - The 113th Congress - The Administration - Securities and Exchange Commission - Association for Corporate Growth (ACG) - Private Equity Growth Capital Council...more

What Are the Regulators Thinking?

Recently the New England Chapter of the National Association of Corporate Directors presented a distinguished panel of current and former securities regulators discussing enforcement and governance issues facing boards of...more

New Canadian Anti-Spam Compliance and Enforcement Guidelines

The Canadian Radio-television and Telecommunications Commission (CRTC) has issued new Compliance and Enforcement Guidelines for Canada’s Anti-Spam Legislation (CASL) which will come into force in stages beginning July 1,...more

New Colorado Wage Law Expands Coverage And Enforcement Methods

The Wage Protection Act of 2014, signed by Gov. John Hickenlooper on May 29, expands the state’s wage payment law to include additional types of claims, and grants the Colorado Division of Labor in the Department of Labor and...more

SEC's Enforcement Action Against Hedge Fund Adviser for Retaliation Against a Whistleblower Highlights Challenges Employers Face

After repeated warnings over the last few years that it had both the authority and willingness to do so, on June 16, 2014, the SEC brought its first enforcement action for retaliation against a whistleblower under the...more

Public Company Boards and Management will be Affected by PCAOB’s New and Amended Auditing Standards Regarding Related Party...

The PCAOB’s new and amended auditing standards, adopted on June 10 and subject to SEC approval, require that auditors, among other things, discuss related party transactions and executive officers’ financial arrangements with...more

Don’t Ask a Whistleblower to Investigate the Conduct Reported to the SEC

The SEC recently charged a hedge fund advisory firm, which we refer to as the employer, for the first time using its new authority to bring anti-retaliation enforcement actions. The head trader for the employer reported to...more

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