Suspensions & Debarments

News & Analysis as of

Final Rule on the Fair Pay and Safe Workplaces Executive Order Revealed

Key Points - - While making some welcomed changes to the proposed rule, the final rule leaves many of the significant burdens and costs associated with requiring contractors and subcontractors to disclose various...more

Federal Contractors Must Comply with OFCCP's Revised Sex Discrimination Guidelines or Face Possible Debarment - Effective August...

Earlier this year, the OFCCP published a Final Rule revising its Sex Discrimination Guidelines which prohibits discrimination by government contractors on the basis of sex. The new Rule requires federal contractors to...more

SEC Settles Insider Trading Action With Corporate Controller

The Commission filed another settled insider trading action. The case centered on a tender offer by Koch Industries, Inc. for Oplink Communications, Inc., announced before the market opened on November 19, 2014. Following the...more

Barred Securities Professional Charged By SEC

The Commission brought an action against a hedge fund operator who had previously been barred from the securities business and his son. The case centers on undisclosed conflicts and preferential withdrawal rights for the two...more

FCA Enforcement Action Overview

Reed Smith’s Enforcement Action by the FCA 2016 is a useful overview of enforcement action taken by the FCA in 2016. Enforcement action is important in terms of showing where the focus of the regulator is in terms of...more

Don’t even think about violating that penny stock bar.

The penny stock world can be rough. So rough that breaking the rules in that corner of the securities markets ban bring its own kind of injunction, one that’s much more specific than the typical don’t-break-the-law-anymore...more

Eleventh Circuit Applies Five-Year Statute of Limitations to SEC Disgorgement Claims

On May 26, the Eleventh Circuit Court of Appeals unanimously ruled that the five-year statute of limitations applicable to Securities and Exchange Commission claims for fines and suspensions or bars also applies to SEC claims...more

Increased Suspensions and Debarments Bring Challenges for Small Business Contractors

Newly released Department of Defense statistics show that the number of suspension and debarment actions initiated by defense agencies continue to rise, in some cases significantly. For example, in fiscal year 2015, the...more

OFCCP Sues B&H for Alleged Discrimination

Last week, the U.S. Department of Labor’s Office of Federal Contract Compliance Programs (“OFCCP”) filed an administrative lawsuit against B&H Foto & Electronics Corporation (“B&H”), a major New York-based electronics...more

Insurance Coverage for Actions Under the Foreign Corrupt Practices Act Against Government Contractors

Since 2009, enforcement of FCPA actions has significantly increased. The Department of Justice has convicted over 50 individuals, and companies have paid approximately $3 billion in fines and penalties. Government...more

Global Anti-Corruption Perspective - Corporate Alert: Five Ways to Navigate Compliance with Canada’s new Integrity Regime for...

Public Works and Government Services Canada has released its anticipated revisions to the Integrity Regime, Canada’s debarment regime for public sector contractors. Despite relaxing some of the more controversial provisions...more

Suspension and Debarment: A New Government Approach

Contractors and government contracts attorneys are likely to see (if they haven’t already) a rise in the number of cases in which individuals, rather than corporate entities, are targeted by government officials for...more

Enough Is Enough: Court Suspends Class Action for Vexatious Conduct by Petitioner, Counsel

In September 2015, the Superior Court of Québec (Court) released a landmark decision rendered by Justice C. Masse in Deraspe v. Zinc électrolytique du Canada ltée?, in which — for the first time in the area of class actions —...more

KBR And Maintaining Privilege Throughout Investigations

Last month, for the second time, the D.C. Circuit in In re Kellogg Brown & Root Inc., No. 14-5319, slip op. (D.C. Cir. Aug. 11, 2015), granted a writ of mandamus sought by KBR and vacated a series of district court orders...more

DOJ Reaffirms Commitment to Prosecuting Individuals, Toughens Expectation for Corporate Response

The U.S. Department of Justice (DOJ) recently issued a memorandum ("The Yates memo") on September 9, 2015 by Deputy Attorney General Sally Yates, reaffirming the Government's commitment to prosecuting individuals. Say...more

FAR Thresholds Adjusted for Inflation

Under a final rule effective October 1, 2015, acquisition-related dollar thresholds in the Federal Acquisition Regulation (“FAR”) will be adjusted for inflation. Government contractors should be aware of these inflationary...more

Financial Services Weekly News - September 2015 #3

Regulatory Developments: CFTC Grants Temporary Registration as SEF to LedgerX Bitcoin Options Exchange and Clearing House - On Sept. 10 the CFTC announced that it had issued an Order of Temporary Registration as a...more

FINRA Bars Former President Of Broker-Dealer Along With Former Registered Representatives

Reflecting increased regulatory willingness to discipline principals and supervisors, FINRA recently announced that it had imposed an industry bar on the former president of a defunct broker-dealer, along with five registered...more

The Mandatory Disclosure Rule – Demystifying Your Disclosure Requirements

It’s that gut-check scenario: You realize that your company has made a mistake on an invoice submitted on a government contract, or that your company has mistakenly represented its size or socioeconomic status. Regardless of...more

How Canada’s leading the way to compliance with anti-corruption sticks and carrots

“Your criminal actions raise serious questions as to whether you have the requisite personal integrity and business ethics to be a responsible Government contractor.” That’s me. I was debarred from being a U.S....more

The High Cost of an FCPA Violation

Violations of the Foreign Corrupt Practices Act (“FCPA”) can lead to hefty penalties. Indeed, individuals who violate the FCPA, and their employers, could be on the hook for a variety of penalties described below. Companies...more

Foreign Corrupt Practices Act (FCPA): Israel Beware – Trends in Enforcement.

Intuitively, Israeli companies and their directors would likely assume that their businesses are immune to investigation and the assessment of penalties by US regulators that are separated by a vast ocean and located more...more

Client Alert for H-1B Employers – Importance: High

Amended H-1B Petitions May be Required Immediately - Applies to: All employers with H-1B employees working at job sites other than those specified in H-1B filing. Action needed now: Verify that actual work site of...more

Members of Congress Request Withdrawal Of Proposed Guidance And Regulations For Fair Pay And Safe Workplaces Executive Order

On July 15, 2015, eight members of Congress sent a letter to the U.S. Secretary of Labor and the Administrator for the Office of Federal Procurement Policy, requesting that the proposed guidance and regulations for the Fair...more

New Federal Integrity Regime: Two Steps Forward, One Step Back

The Integrity Regime replaces the Integrity Framework initially introduced by PWGSC in 2012 and amended in March 2014, which was heavily criticized as being unfairly harsh for its lack of due process and failure to account...more

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