News & Analysis as of

Board Investigations And The Curse Of The Mummy’s Tomb – Part II

Yesterday I began an exploration of a recent article in the Corporate Board magazine, entitled “Successful Board Investigations” by David Bayless and Tammy Albarrán, partners in the law firm of Covington & Burling LLP. In...more

Gruss v. Zwirn: SDNY Strikes a Blow Against Selective Waiver

On November 20, 2013, US District Judge Paul G. Gardephe of the US District Court for the Southern District of New York issued a decision with potentially significant consequences for attorneys conducting internal...more

A Critical Requirement Of A Major Internal Investigation — Independence

There are so many potential pitfalls in conducting an internal investigation. I always say that there is an “art” to conducting an effective internal investigation. ...more

DOJ and SEC Officials Outline Considerations for Companies’ Internal Investigations

Companies all over the globe are increasingly aware of the record number of corporate criminal enforcement actions brought in recent years by enforcement authorities to combat corruption, and many companies now are also...more

Orrick's Financial Industry Week In Review - November 12, 2013

CFTC Proposed Rule on Commodity Pools - On November 5, the CFTC issued a proposed rule that would require that all registered introducing brokers (IBs), commodity pool operators (CPOs) and commodity trading advisors...more

Financial Institutions Practice - Quarterly Review (October 2013)

In This Issue: - “The Upfront Costs of Compliance Are Looking More Like a Bargain Every Day” and “How to Minimise the Risk of Insider Trading and Leaking of Material Information” (October-December), Risk &...more

Internal Investigations In A “Bet The Company” Case

Lawyers like to be dramatic. Litigators love to be dramatic. ...more

Are You the Fox in the Henhouse? Whistleblower Protection in In-House Investigations

Daniel Ellsberg, Frank Serpico, Karen Silkwood, Jeffrey Wigand, Sharon Watkins and Floyd Landis — only a few names on the long list of people who blew the whistle on fraudulent business practices. In the past, whistleblowers...more

Federal Authorities Announce FCPA Action, First SEC Non-Prosecution Agreement

On April 22, the DOJ and the SEC announced parallel actions against a clothing company to resolve allegations that a subsidiary of the company paid bribes to Argentine officials over a several-year period to obtain improper...more

Lessons Learned from the Parker Drilling DPA and Ralph Lauren NPA [Video]

In the two most recent corporate Foreign Corrupt Practices Act (FCPA) enforcement actions, the Department of Justice (DOJ) and Securities and Exchange Commission (SEC) to communicate not only what they believe constitutes a...more

Actions Taken During A FCPA Enforcement Action - Lessons From Parker Drilling And Ralph Lauren

In the two most recent corporate Foreign Corrupt Practices Act (FCPA) enforcement actions, the Department of Justice (DOJ) and Securities and Exchange Commission (SEC) to communicate not only what they believe constitutes a...more

How To Demonstrate Ethics And Compliance – Earn It, Re-Earn It And Re-Evaluate It

What should your company do if it finds itself in a situation where some of its senior leadership has engaged in conduct which violates its own ethical standards or external legal standard such as the Foreign Corrupt...more

Internal Investigation Fees Awarded To Goldman Sachs

On Monday, February 25, Goldman Sachs won its bid to force former director Rajat K. Gupta to pay legal fees it incurred while investigating Gupta’s insider trading activities. In October 2012, Gupta was sentenced to two years...more

How Does Your Organization Treat Whistleblowers?

As almost everyone knows, Lance Armstrong spoke for the first time about his performance enhancing drug (PED) use recently on Oprah. On the first night he admitted for the first time that he used PEDs during his seven wins at...more

Select Broker-Dealer, Investment Adviser, and Investment Company Enforcement Cases and Developments: 2012 Year in Review

This Outline highlights key U.S. Securities and Exchange Commission (the "SEC" or the "Commission") and Financial Industry Regulatory Authority ("FINRA") enforcement developments and cases regarding broker-dealers during...more

How To Prevent Whistleblower Complaints

In this era of whistleblower risk, companies need to prepare for whistleblower complaints which are made outside the company. Whistleblowers are not required to report complaints internally nor wait for any specific period...more

Internal Audit Review of Charitable Donations Under the FCPA

When is a rose not a rose? When it is a charitable donation not made for philanthropic purposes and it violates the Foreign Corrupt Practices Act (FCPA). I thought about that concept when reviewing the Eli Lilly and Company...more

Top Ten Enforcement Actions for 2012

As we welcome in 2013, it is appropriate to reflect back on some of the things which have occurred over 2012 and in the Foreign Corrupt Practices Act (FCPA) enforcement world, it was quite a significant year. The Department...more

The Lilly FCPA Enforcement Action (Part III) Lessons Learned from Russia

This Part III is the final installment of my review of the Eli Lilly and Company (Lilly) FCPA enforcement action brought by the Securities and Exchange Commission (SEC). In this Part III, I will review the FCPA issues that...more

The Allianz FCPA Enforcement Action – What the Compliance Practitioner Needs to Know

Who is your favorite character from the Iliad? Is it Agamemnon the king who brings the Greek Armada to Troy for his brother’s honor; perhaps Ajax the mountain of a man who is the most loyal Greek warrior; how about Achilles...more

The Dangers of Ignorance: Avoiding an Internal Investigation

I would rather have my ignorance than another man’s knowledge, because I have so much more of it. – Mark Twain One should never underestimate the power of inertia. Corporate directors and senior managers sometimes...more

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