Sanctions

News & Analysis as of

NY DFS Takes Action Against Foreign Bank Regarding Transactions with Sanctioned Countries

On November 18, the New York DFS announced a consent order with a foreign bank for allegedly misleading regulators regarding its transactions with sanctioned countries, most notably Iran, Sudan, and Myanmar. According to the...more

Deal Or No Deal, Iran Sanctions Will Remain In Place

With the world powers set to resume meetings in Vienna this week, the question on every U.S. business person’s lips is: will this be the end of sanction on Iran? Despite reports that neither side can afford to walk away...more

Why Sanctions Alone Are Not Enough: The Nigerian Model

Q: Hello Sven. I feel like I know you through your three part series in the Journal of Business Compliance, and our soon to be published roundtable. So, could you tell us a little about today’s Q and A?...more

Navigating Russia Sanctions: US, EU, and Japan Update

US, EU and Japanese sanctions targeting Russia are becoming increasingly aligned as a result of each jurisdiction’s continued tailoring of sanctions targeting Russia. In each jurisdiction there are now laws which block funds...more

Round Two: Prosecutors Reopen Bank Settlements

With our political system suffering from a growing chasm down party lines, our public servants seem to be increasingly vulnerable to public pressure. Politicians scramble to fight for whatever cause du jour will garner them...more

Managing Legal and Business Risks Under the Russia/Ukraine Sanctions

On October 9, 2014 a team of US, Russia and UK based Latham & Watkins lawyers hosted “Managing Legal and Business Risks Under the Russia/Ukraine Sanctions: Views from the US, Europe and Moscow,” a webcast focusing on the...more

Blog: More “Broken Windows” Enforcement From The SEC?

Yesterday, the SEC announced that it had sanctioned ten companies (generally, smaller reporting companies traded on OTC Link) for failing to make required Form 8-K disclosures related to financings and unregistered stock...more

Sharing the Spotlight: M&A Due Diligence

Everyone likes to talk about the importance of due diligence. A whole new due diligence industry has grown, starting with initial anti-money laundering requirements and stretching into corruption and sanctions issues....more

International Arbitration Newsletter

In This Issue: - The 2014 LCIA Rules - Latham & Watkins Secures Arbitral Award and Judgment When Respondent Fails to Post Full Security for Enforcement Stay - Ukraine Crisis: A Recap of the Latest US and EU...more

SEC Sanctions Athena in First High-Frequency Trading Manipulation Case

On October 16, in a groundbreaking trading manipulation case, the Securities and Exchange Commission entered an Order instituting a settled administrative proceeding against high-frequency trading firm Athena Capital...more

Defendants’ Failure to Impose Litigation Hold Leads to Sanctions (Arizona)

Vicente v. City of Prescott, 2014 WL 3894131 (D. Ariz. Aug. 8, 2014. In this employment dispute case, the plaintiffs sought a summary judgment motion and motion for sanctions due to the defendants’ “failure to preserve...more

Fujitsu v. Tellabs: The District Court Orders Additional Sanctions for Fujitsu's Continued "Contemptuous Conduct"

Following the district court's previous order granting a motion to compel against Fujitsu, and Fujitsu's unsuccessful appeal to the Federal Circuit, the district court ordered sanctions in the form of a civil penalty. As the...more

With Prejudice: Judge Dismisses FCA Claim and Orders Sanctions Against Attorney

On October 16, 2014, United States Magistrate Judge Jeremiah McCarthy of the Western District of New York issued a Report and Recommendation to District Judge William Skretny in which he recommended dismissal with prejudice...more

5 Compliance “Hot Spots” for Technology Companies Under Export Controls and Sanctions Laws

Increasingly interconnected global businesses need to focus on how export controls and trade sanctions can affect their cross-border activities in unexpected ways. For decades, the US Government has used trade...more

Sanctions imposed for deposition conduct in Iowa, a state with “storied tradition and culture of civility.”

In a colorful opinion this week, an Iowa judge imposed sanctions stemming from a deposition. U.S. District Judge Mark Bennett was “shocked” by depositions. He felt the deposition conduct had no place in Iowa, observing: ...more

Top of Mind - October 2014: Editor's Choice

BYOD: cool but dangerous – 3 HIPAA Security Rule challenges, 7 key precautions - Companies and employees like the idea of bring your own device (BYOD) policies that allow employees to use their personal mobiles for...more

Legitimate, Creative Advocacy Bars Rule 11 Sanctions

Worldwide Home Products, Inc., v. Bed, Bath and Beyond, Inc., et al. Case Number: 1:11-cv-03633-MHD - Worldwide sued Bed, Bath and Beyond (BBB) for patent infringement of U.S. Patent No. 7938300 (“Nestable...more

Novel U.S. and EU Sanctions Targeting Russian Financing Activities Raise Unique Compliance Considerations for Global Financial...

Since March 2014, the United States and European Union have imposed multiple rounds of sanctions restricting certain activities with Russian and Ukrainian individuals and companies as a result of the ongoing crisis in...more

Global Investigations: Reading The Signals

As the global economy recovers, how will regulators respond? Experts provide perspectives on trends in regulatory and corporate investigations. Global trends in regulation - In the wake of the financial crisis,...more

Cross-Border Investigations Update - October 2014

In This Issue: Cross–Border Enforcement Trends: - Market Abuse - Economic Sanctions - Cross-Border Tax Enforcement - Anti-Corruption - Antitrust - A New Enforcement Environment in...more

Global Procurement Quarterly - Summer/Fall 2014

In This Issue: - Recent Trends in FCPA Enforcement – First Half of 2014 - Ukraine/Russia–Related Sanctions - New Executive Order Places Additional Reporting Obligations on Government Contractors and...more

Ratcheting up the Pressure: Reinforced Ukraine-related Sanctions on Russia

On September 12, 2014, the United States (“U.S.”) and European Union (“EU”) both announced expanded sanctions related to Russia and Ukraine. These measures seek to increase pressure on the Russian Government to stop...more

Sanctions Relating to Russia Imposed by the U.S., EU, Australia and Japan - A Snapshot of Where We Are Now

Since early March 2014, a number of countries have imposed various types of sanctions against Russia and certain persons in Ukraine in connection with events in Ukraine. We have issued a series of updates covering, in...more

ALJ Denies LabMD’s Motion for Sanctions Against the FTC

Although the litigation between LabMD and the Federal Trade Commission (FTC) continues in the Eleventh Circuit, an administrative law judge has resolved one battle between the two entities. Chief Administrative Law Judge D....more

Test Your Knowledge on OFAC Sanctions

Global sanctions have shot up the scale of high risks to be prioritized by international companies and financial institutions, including real estate, corporate and trust service provider businesses. The battle against...more

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