News & Analysis as of

White Collar Crimes

Got Privilege? When It Comes to Internal Investigations, Think Again …

by Seyfarth Shaw LLP on

Seyfarth Synopsis: A recent decision out of the U.S. District Court for the District of Columbia serves as a helpful reminder on the difficulties of maintaining privilege during internal company investigations. But with a...more

Tracking down bad guys, online and off

Q.When we think of the words ‘corporate investigator,’ you don’t exactly fit our stereotype, yet that’s clearly what you are. What are we missing? What does a corporate investigator do these days?...more

Anti-Corruption Risks and Drug and Device Companies

by Michael Volkov on

For years, the Justice Department and the Securities and Exchange Commission touted the FCPA “sweep” of the pharmaceutical and medical device industries. With good reason, DOJ and the SEC turned the drug and medical device...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Mr. Buffett’s decided to sell his massive 10.6 million share stake in General Electric, withdrawing from the company to which he lent roughly $3 billion to help see it through the 2008 financial crisis....more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Is the SEC officially on record with a warning about the viability of unregulated ICOs? It is. Is that stopping start-ups from creating and selling new virtual currencies at a torrid pace? It is not....more

Personal Jurisdiction: A New Battlefront in Corporate Criminal Cases

by Jones Day on

The U.S. Supreme Court in recent years has been steadfast in cabining the authority of state courts to assert personal jurisdiction over corporate defendants in civil cases. In 2017, the Court has continued this trend on...more

'Unmasking' Corruption

The following is an interview with Anne-Christine Wegener, co-author, “Unmasked: Corruption in the West.” RB: Dear Anne-Christine, first, thank you for taking the time to meet with me during my recent trip to Heidelberg,...more

High-Profile Spanish Money Laundering Investigation of Chinese Bank Raises Questions About Future of Similar U.S. Enforcement

by Ballard Spahr LLP on

As widely reported, the Spanish police raided last year the Madrid offices of the Chinese state-run Industrial and Commercial Bank of China (“ICBC”), the world’s biggest bank by assets. In the nearly 18 months following that...more

Yates Memo's Influence Felt in DOJ Health Care Enforcement

by Jones Day on

In September 2015, Deputy Attorney General Sally Yates issued a memorandum titled "Individual Accountability for Corporate Wrongdoing." In it, she stressed that one of the most effective ways to combat corporate misconduct is...more

Dorsey Anti-Corruption Digest - August 2017

by Dorsey & Whitney LLP on

The Department of Justice (DOJ) ended its probe of Net1 UEPS Technologies, according to SEC filings from the South African-based payment processing company. The company received a declination from the Securities and Exchange...more

How Do You Define a Compliance Program Failure?

by Michael Volkov on

In our perpetual quest for simplicity, sometimes we fail to understand the complexity of an issue. In the corporate world, if you ask board members and CEOs how they would define a compliance program ”failure,” I am sure...more

This Month in Corruption: Ex-Manager of Two Towns Pleads Guilty to Variety of Crimes

by PretiFlaherty on

On Thursday, July 20, Andrew Bisignani pleaded guilty in Essex Superior Court to procurement fraud, destroying public records, municipal bid-rigging and other crimes related to his service, from January 1, 2009 to June 30,...more

The Perfect Compliance Combo: Culture and Controls

by Michael Volkov on

Compliance practitioners divide their commentary and insights into two general categories – ethical culture and compliance controls. It is easy to divide compliance issues into these two categories. Ethical culture articles...more

Lessons in Failures of Internal Controls

by Thomas Fox on

Last week’s announcement by the Securities and Exchange Commission (SEC) of the resolution of its outstanding Foreign Corrupt Practices Act (FCPA) enforcement action with Halliburton Company continues to resonate and provide...more

Goodbye to Rocket J. Squirrel – Halliburton Resolves FCPA Enforcement Action

by Thomas Fox on

June Foray died this week. You may not think you have heard of her but let me assure you; you have heard her. Foray was the voice of Rocket J. Squirrel in perhaps the greatest cartoon show ever, Rocky and Bullwinkle....more

New DOJ Policy Likely To Result In Increase In Forfeitures

by Jackson Lewis P.C. on

Attorney General Jeff Sessions has announced a new Department of Justice policy regarding the federal adoption of assets seized by state or local law enforcement under state law. The new policy, issued on July 19, 2017, is...more

Compliance and the Noble Fight Against Corruption

by Thomas Fox on

In two recent public appearances, Department of Justice (DOJ) representatives spoke to issues of concern to every compliance practitioner regarding one role of the DOJ going forward and how that role will continue to feed the...more

Court Dispenses With Fraud Defense Based on Gumball Victims’ Disclaimers

The Chicklets and Runts vending machine at your local car repair shop last decade may have been one piece of a fraudulent enterprise that ensnarled roughly 7,000 victims. As CEO of Vendstar, Defendant Edward (“Ned”) Weaver...more

US Second Circuit Finds Testimony Compelled by UK Regulators to be Inadmissible in Criminal Proceedings

Creating a potential new impediment for collaboration between UK and US investigators, the Court of Appeals for the Second Circuit in New York recently held that evidence derived from compelled testimony cannot be used in a...more

Anti-Corruption Compliance: The Need to Look Under the Cloak of Materiality

by Michael Volkov on

Sarbanes-Oxley revolutionized the auditing profession. Section 404 imposed stringent requirements for disclosure of the state of a company’s internal controls and financial reporting. The company’s independent auditor is...more

Record-Setting Prosecutions in the Money Transmitting Business: Ways to Avoid Compliance Violations

by Blank Rome LLP on

In the first several months of 2017, we have seen significant anti-money laundering settlements and penalties in the money transmitting business arising from lax compliance programs, including the record-setting Western Union...more

Jones Day’s Review of Business-Related Cases in the Supreme Court’s October Term 2016

by Jones Day on

During what many have labeled a “quiet Term,” the U.S. Supreme Court, working with only eight justices for most of the session, still delivered at least 30 rulings of particular interest to business and industry. These...more

White Collar Watch (July 2017 • Vol 1, Issue 2)

by Blank Rome LLP on

Welcome to the summer edition of Blank Rome’s White Collar Watch. In a world that seems to bring new challenges daily—such as the global cybersecurity attacks that were launched in late June—this newsletter is designed to...more

The FinTech Revolution: Enforcement Actions Brought against FinTech Companies and Their Implications

by Blank Rome LLP on

This is the second installment in a series of articles. For an understanding of FinTech products and services and how they are disrupting the financial services industry. As law enforcement authorities and government...more

The Sessions Memo: A Significant Reversal of Policy?

by Blank Rome LLP on

In May 2017, Attorney General Jeff Sessions issued a memorandum to U.S. attorneys, ordering all federal prosecutors to "charge and pursue the most serious, readily provable offense" as a "core principle" of charging and...more

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