Fines Penalties

News & Analysis as of

30% Penalty Is Not an Excessive Fine

So says the Tax Court in the recent decision involving the 30% penalty imposed under Code §6662A(c). The penalty can be imposed if a taxpayer fails to adequately disclose a reportable transaction giving rise to an...more

UPDATE: The City of Los Angeles Adopts "Ban the Box," Prohibiting Criminal Conviction Inquiry Prior to Job Offer

Seyfarth Synopsis: The Los Angeles Fair Chance Initiative for Hiring (the “Ordinance”) imposes a host of new unlawful hiring practices upon private employers regarding inquiries into criminal convictions. Chief among them, an...more

Rolls-Royce Global Enforcement Action: Part I

When most people across the globe think of Rolls-Royce, one word comes to mind – excellence. Yet that image largely relates to Rolls-Royce Limited, the automobile manufacturer, which was founded in 1909. Just a few years...more

The City of Los Angeles Adopts “Ban the Box,” Prohibiting Criminal Conviction Inquiry Prior to Job Offer

Seyfarth Synopsis: Effective July 1, 2017, the Los Angeles Fair Chance Initiative for Hiring (the “Ordinance”) imposes a host of new unlawful hiring practices upon private employers regarding inquiries into criminal...more

City of Los Angeles Mayor to Sign Long-Awaited and Onerous “Ban the Box” Law

In the next week, Los Angeles Mayor Eric Garcetti is expected to sign the Fair Chance Initiative for Hiring (Initiative), which will prohibit most private sector employers from inquiring into a job applicant’s criminal...more

The IRS and Courts Weigh in on the Deductibility of Fines and Penalties - Tax Update, Volume 2016, Issue 3

Taxpayers who make payments in conjunction with a forfeiture action should attempt to understand the characterization of a payment to see if the specific payment can avoid being treated as a fine or penalty. Originally...more

Forgiving Fines: The NYC Amnesty Program

In an effort to collect more than one billion dollars in outstanding fines, the City of New York is offering an amnesty program that allows participants to resolve violations received from various City agencies, including the...more

Embraer FCPA Enforcement Action – Part III

Today I continue my exploration of the recently announced Department of Justice (DOJ) and Securities and Exchange Commission (SEC) Foreign Corrupt Practices Act (FCPA) enforcement action with the announcement of the...more

NYAG Announces Settlement with Synergy Fitness for Improper Billing

This week, the New York State Attorney General (the “Attorney General”) announced that it had settled with nine Synergy Fitness (“Synergy”) health clubs over alleged deceptive and improper billing practices. Specifically,...more

FCC Fines Non-Telecom Companies for Lapse in Compliance with Wireless Rules

FCC Fines Non-Telecom Companies for Lapse in Compliance with Wireless Rules August 19, 2016 The enforcement action highlights the importance of complying with FCC rules with respect to their wireless facilities and devices....more

Higher Immigration Penalties for I-9 and Other Violations Going Into Effect August 1, 2016

As a result of the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015, higher immigration fines and penalties will go into effect on August 1, 2016. The fines and penalties cover Form I-9 paperwork...more

U.S. Employers Facing Increased Fines for Form I-9 Violations

The U.S. Department of Justice recently announced significant increases in fines for immigration-related paperwork violations, in an interim final rule slated to take effect this fall. Harsher financial penalties come as part...more

U.S. Customs Aims to Increase Enforcement of the Jones Act

In what could foretell a significant increase in the enforcement of the coastwise trade provisions of the Jones Act, U.S. Customs and Border Protection (Customs) announced on July 18 the creation of the National Jones Act...more

Chameleon SROs: The Gov’t, But Not Really

For years, self-regulatory agencies (like FINRA or the Exchanges) have wielded the statutory authority granted them by Congress – and backed by the SEC – exercising governmental power to compel testimony, impose fines and...more

General Court of the EU Dismisses Trioplast Application Seeking Reimbursement of Interest Paid for Being Late in Paying Cartel...

With a judgment handed down on 12 May 2016 (Case T-669/14, Trioplast Industrier AB v. European Commission), the General Court of the European Union (GCEU) dismissed an action brought by Trioplast Industrier AB (Trioplast...more

SEC Imposes Penalties on Company and Officers for Inadequate Staffing in Accounting Department

Highlights - The SEC settled charges against Magnum Hunter Resources Corporation and two of its officers for deficient oversight of the company’s internal controls over financial reporting, resulting in fines of...more

OSHA Fines to Increase Dramatically

For the first time in 25 years, OSHA fines likely will be increasing. The change will take effect no later than August 1, 2016, and each year thereafter. A relatively obscure provision in the 2015 budget bill passed by...more

International Traffic and Revenue Reports Due July 31

All US international authorization holders and US international service providers must file International Traffic and Revenue Reports. Common carriers and voice over Internet Protocol (VoIP) providers that offer...more

DOJ Seeks $5 Million Lobbying Disclosure Act Penalty

The U.S. Attorney's Office for the District of Columbia recently filed a civil complaint against a lobbyist and a lobbying firm alleging violations of the Lobbying Disclosure Act (LDA) that could result in a fine of over $5...more

December 2013: Japanese Litigation Update

Japanese Government Tightens Insider Trading Regulations. On June 12, 2013, the Japanese Diet passed an amendment to the Japanese Financial Instruments and Exchange Act, including enhancements of many insider trading...more

New Tax Law—Think Twice Before Agreeing Not to Contest UI Claim

Under amendments to the Unemployment Insurance Integrity Act of 2011 that took effect in late October, employers must now timely and adequately respond to a state unemployment agency’s information request about an employee’s...more

Lloyds Banking Group Face £28 Million Fine in Relation to Sales Incentive Controls

On December 11, the FCA published a final notice to Lloyds Banking Group in which it was fined a record GBP £28 million. The fine was imposed for “serious failings” in its sales practices, the largest UK regulatory penalty...more

Legal Alert: EPA Issues Notice of Violation Alleging e-Biofuels, LLC Generated 33.5 Million Invalid RINs; EPA Plans to Seek Fines...

Today, December 18, 2013, the U.S. Environmental Protection Agency (EPA) issued a Notice of Violation (NOV) of the Clean Air Act’s Renewable Fuel Standard (RFS) to e-Biofuels, LLC and its parent company Imperial Petroleum,...more

The Sky Is The Limit: Escalating Fines, DPA/NPAs And Deterrence

The controversy around punishment and deterrence of corporate misconduct continues to swirl. As fines increase against companies, it is important to ask the question whether the current enforcement scheme adequately punishes...more

What A Long Strange Trip It’s Been – The Bilfinger FCPA Settlement

Earlier this week the Department of Justice (DOJ) announced it had resolved an ongoing Foreign Corrupt Practices Act (FCPA) with German entity Bilfinger SE (Bilfinger). This case involved the same background facts and events...more

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