Sanctions

News & Analysis as of

Changes in Cuba May Impact the Insurance Industry

While much remains to be determined, the recent easing of U.S. restrictions on travel to and trade with Cuba may bring opportunities for U.S. and global insurance companies. However, many questions and obstacles remain. This...more

$3 Million Spoliation Sanction Despite Company’s Litigation Hold

Manufacturers involved in litigation must properly preserve electronically-stored information (“ESI”) or potentially face daunting sanctions. A recent antitrust case, however, demonstrates that lessons—multi-million dollar...more

Lawyers Sanctioned for Seeking to Settle Federal Court Class Action in State Court

Lawyers seeking to settle class actions pending in federal court by dismissing and refiling in state court beware! In two recent orders, a federal judge in the Western District of Arkansas ruled that the attorneys...more

Throwback Thursday: 6 Months of Case Law Under the New FRCP [Webinar]

A Tale of Two Rules - The first six months after the FRCP amendments produced extensive case law as courts and parties grappled with the application of the new rules. In particular, Rule 26(b)(1) with its emphasis on...more

SEC Issues Cease-and-Desist Order Against Severance Agreement Clause Limiting Whistleblowers' Rights to Recover Bounty Awards

On August 10, 2016, the U.S. Securities and Exchange Commission issued a cease-and-desist Order and imposed remedial sanctions against a publicly traded company for including language in its severance agreements requiring...more

D.C Circuit rejects constitutional challenge to SEC’s use of administrative law judges

A challenge to the constitutionality of the SEC’s use of administrative law judges (ALJ) was rejected by the U.S. Court of Appeals for the D.C. Circuit. In Raymond J. Lucia Companies, Inc. et al. v. Securities and Exchange...more

DC Circuit Upholds SEC ALJs in First Merits Opinion

The D.C. Circuit has affirmed that SEC ALJs are not constitutional Officers subject to the Appointments Clause, rejecting perhaps the strongest of the constitutional challenges to the Commission’s administrative forum. The...more

Insurers Beware: The Risks of Failing to Comply With OFAC SDN Screening Requirements

Two related enforcement actions by the U.S. Department of Treasury’s Office of Foreign Assets Compliance (OFAC) are stark reminders that health insurance providers (and other insurers) must maintain adequate U.S. trade...more

Sonhos Interrompidos - Como uma não conformidade tributária pode destruir o Sonho Americano de imigrantes não registrados - Parte...

Panorama - As eleições presidenciais dos EUA entraram em uma fase de disputa com os partidos Republicano e Democrata realizando suas convenções nas próximas duas semanas para escolher Donald Trump e Hillary Clinton como...more

E-Discovery Update: Does Authority Always Win?

John Mellencamp sang, “I fight authority, authority always wins,” but inherent authority may not carry the day anymore when it comes to e-discovery sanctions under the new rules. Federal Rule of Civil Procedure Rule 37(e) now...more

2016 Updates to Ediscovery for Defendants Cheat Sheet

We’ve been remiss in updating our cheat sheet devoted to ediscovery for defendants. Because of the broad nature of the topic – these cases can and do arise in a wide variety of non-drug/device contexts – we have to research...more

OFAC Authorizes Temporary Sojourn of US-Controlled Aircraft to Iran

Today, OFAC issued new General License J (“GL J”) authorizing non-U.S. persons to reexport certain “Eligible Aircraft” to Iran. Importantly, GL J only applies to temporary sojourns, meaning that any sales or leases (including...more

Unlocking the EU General Data Protection Regulation: A practical handbook on the EU's new data protection law: Chapter 16:...

Why does this topic matter to organisations? Whereas the remedies and sanctions available to DPAs under the Directive are comparatively low (generally subject to a maximum of less than €1 million per infringement, with...more

Secondary Sanctions Can Prove Tricky for Both U.S. and Non-U.S. Companies - Export Compliance Matters

What are secondary sanctions? Secondary sanctions apply to non-U.S. persons for wholly non-U.S. conduct that occurs entirely outside U.S. jurisdiction. Compare this to primary sanctions, which prohibit U.S. persons from...more

Court Awards $3M Sanction and Adverse Inference for Spoliation in Antitrust Case

On July 6, 2016, Judge Leonard P. Stark, of the federal district court in Delaware, ordered a $3 million punitive monetary sanction, and an adverse inference jury instruction, against antitrust defendant Plantronics after...more

EU Customs Developments - June 2016

EU Customs Policy - Union Customs Code Developments - The minutes of the 13 May 2016 meeting between the European Commission and Member State experts, summarising the discussion on various amendments and...more

NY Strengthens Law Concerning Zombie Properties as Well as Good Faith Negotiations

New York Senate Bill S8159 - On June 23, 2016, the New York State Legislature passed a bill imposing new requirements upon mortgage servicers seeking to foreclose on defaulted home loans. The bill — S8159, dubbed the...more

Broken Dreams - How Tax Non-Compliance Can Destroy the American Dream of Undocumented Immigrants - Part 1

Overview - The U.S. Presidential Elections have shifted into overdrive with both the Republican and Democratic holding their conventions over the next two weeks to select Donald Trump and Hillary Clinton as their...more

EU and UK Sanctions Update: July 2016

Below is a summary of developments since our previous update in May, relating to European Union (“EU”) sanctions on Russia, Iran and other jurisdictions, the impact of Brexit on EU sanctions and recent changes with respect to...more

UK financial sanctions: bank cannot claim for subsidiary’s losses

Bank Mellat v HM Treasury [2016] EWCA Civ 452, 10 May 2016 - The Iranian bank, Bank Mellat, whilst having had recent success challenging EU sanctions before the Court of Justice for the European Union (CJEU), is having...more

Party’s Willful Destruction of Data Did Not “Optimize” the Case for Dismissal

Ericksen v. Kaplan Higher Educ., LLC, No. RDB-14-3106, 2016 WL 695789 (D. Md. Feb. 22, 2016). Where a plaintiff “willfully [ran] a computer program that she knew, given her computer expertise, would destroy at least some...more

CFPB Sanctions Law Firm and Debt Buyer For Failing to Review Account Documentation

On April 25, the Consumer Financial Protection Bureau (CFPB) entered an enforcement order against New Jersey law firm Pressler and Pressler and its debt-buyer client, New Century Financial Services, for pursuing hundreds of...more

Your daily dose of financial news - The Brief – 7.18.16

William Ackman’s multi-year effort to expose Herbalife as a Ponzi scheme (and make good on his massive short of its stock) saw something of a moral victory last week, with the FTC imposing big-time sanctions ($200 million in...more

SEC Sanctions Unregistered EB-5 Investments Broker

We previously warned that some individuals involved with arranging EB-5 investments may be required to register as broker-dealers (see "Immigrant Investor Program Raises SEC Broker Registration Issues" in the Summer 2014...more

The SFTR – The EU Expands its Rulebook to Cover Securities Financing Transactions and the Reuse of Collateral

The Regulation on Transparency of Securities Financing Transactions and of Reuse (2015/2365) (the "SFTR") entered into force on 12 January 2016 following publication in the Official Journal of the European Union on 23...more

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