News & Analysis as of

New York DFS Obtains Substantial Settlement In Licensing Enforcement Action

On March 31, in an enforcement action with potential implications for a range of financial service providers, the New York State Department of Financial Services (DFS) announced that an insurance holding company agreed to pay...more

Insider Trading Investigations: What To Watch for in 2014

Christopher Clark is a partner at Latham & Watkins where he represents public companies, alternative investment entities such as hedge funds, and individuals in both criminal and civil investigations involving state and...more

FINRA Issues 2014 Regulatory and Examination Priorities Letter

On January 2, 2014, the Financial Industry Regulatory Authority (FINRA) issued its 2014 Annual Regulatory and Examination Priorities Letter (Priorities Letter). This letter is issued annually to highlight new and existing...more

SEC Staff Announces 2014 Broker-Dealer Examination Priorities

The SEC’s Office of Compliance Inspections and Examinations (“OCIE”) announced the 2014 examination priorities (the “Announcement”) for its National Examination Program (the “NEP”). The priorities are organized according to...more

SEC Publishes 2014 Examination Priorities for Investment Advisers

On January 9, 2014, the U.S. Securities and Exchange Commission (SEC) published its 2014 examination priorities letter (“SEC Letter”) for its National Examination Program (NEP). The NEP covers all markets and entities...more

SEC Announces National Exam Program Priorities

The SEC National Examination Program announced its 2012 examination priorities. Those priorities are selected by senior staff from the National Exam Program’s offices along with senior SEC staff from the various Divisions and...more

Business News Digest – December 2013

In this issue: - NIST Holds Fifth Workshop on Cybersecurity Framework; Incentives Still Lacking - Advertising Law News & Analysis - November 1, 2013 Edition - November 7, 2013 Edition - November 14,...more

Where Else? JP Morgan Chase Investigation Into Hiring Practices Expands

One of the most dreaded questions in any Foreign Corrupt Practices Act (FCPA) investigation is: Where Else? By this I mean that if you have a systemic failure of internal controls in one geographic area it may well be that...more

PODs Continue To Attract Scrutiny From OIG And Congress

In the wake of a recent U.S. Department of Health and Human Services Office of Inspector General ("OIG") investigation, physicians with ownership interests in medical device distributorships and hospitals should prepare for...more

OIG Investigations (Without Subpoena Bells and Whistles) Coming to a Program Near You

The Inspector General Act of 1978 aimed to “consolidate existing auditing and investigative resources to more effectively combat fraud, abuse, waste and mismanagement in the programs and operations of [the executive branch].”...more

JP Morgan Discloses Investigation of MBS Practices

In its Form 10-Q filed with the SEC on August 7, JP Morgan Chase & Co. disclosed that it is responding to parallel criminal and civil investigations by the U.S. Attorney’s Office for the Eastern District of California...more

New York Takes Aim at Internet Payday Lenders and Other Industry Players

The Cuomo administration, through the New York State Department of Financial Services (DFS), recently announced aggressive enforcement-related activities in an ongoing DFS investigation designed to stop supposedly unlawful...more

Immigration Impact: Recognizing and Reducing Liability in Corporate I-9 Procedures

2012 was a record year for Immigration and Customs Enforcement-Homeland Security Investigations (HSI), the agency charged with I-9 enforcement. In 2012, HSI commenced 3,004 I-9 investigations and completed 495, charging...more

DOJ confirms investigation of private student loan SCRA violations

As we reported, in the CFPB’s “Mid-year snapshot of private student loan complaints” on complaints the CFPB received from October 2012 through March 2013, one of the top servicing issues reported by consumers was the...more

House Financial Services Committee questions Antonakes about data collection

In the latest installment in the CFPB data collection controversy, the House Financial Services Committee’s Subcommittee on Financial Institutions and Consumer Credit held a hearing on July 9 entitled “Examining How the...more

Broker-Dealers: Pay Attention To Government Audits And Examinations

The story of “The Boy Who Cried Wolf” applies with full force to the securities industry and the FCPA. ...more

First Circuit Rules First-Filed Complaint Need Not Satisfy Rule 9(b) to Bar Subsequent Qui Tam Actions

To incentivize whistleblowers to bring false claims promptly to the government’s attention, the False Claims Act (FCA) includes a so-called “first-to-file rule“ (31 U.S.C § 3730(b)(5)), which bars a person other than the...more

Online Currency Exchange Alleged to Have Laundered Billions for Criminal Enterprises Around the World

In a three-count indictment unsealed on May 28, 2013, the U.S. Attorney’s Office for the Southern District of New York alleged that the owners, founders and managers at Liberty Reserve, an online currency exchange, conspired...more

U.S. Customs Officials Sour On Honey Fraud Organization by T. Augustine Lo

On February 20, 2013, U.S. Immigration and Customs Enforcement (“ICE”), CBP, and the U.S. Attorney’s Office for the Northern District of Illinois jointly announced federal criminal charges against five individuals and two...more

What To Do If The Feds Come Knocking At Your Door!

Your employee handbook likely addresses, in great detail, the do's and don'ts of using the internet while at the office, guidance on HIPAA, and even the company's policy on sexual harassment, but does it provide any...more

Which Providers Are at Greatest Risk for Healthcare Fraud Investigations?

At Ashley D. Adams, PLC, we have a well-established track record of success in false claim cases that can make a difference. For both organization defending against false claims charges and individuals pursuing qui tam...more

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