On March 10, 2026, the U.S. Department of Justice released an updated Corporate Enforcement and Voluntary Self-Disclosure Policy (the “DOJ CEP”)1, which for the first time in the Department’s history will cover most corporate...more
3/11/2026
/ Compliance ,
Cooperation ,
Corporate Counsel ,
Corporate Misconduct ,
Criminal Investigations ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Internal Investigations ,
Non-Prosecution Agreements ,
Policies and Procedures ,
Remediation ,
Self-Disclosure Requirements ,
Voluntary Disclosure ,
White Collar Crimes
On February 24, 2026, the U.S. Securities and Exchange Commission (“SEC”) announced significant updates to its Enforcement Manual (“Manual”), marking the first comprehensive overhaul of the Division of Enforcement’s...more
3/2/2026
/ Compliance Monitoring ,
Enforcement Actions ,
Enforcement Guidance ,
Enforcement Priorities ,
Investigations ,
New Guidance ,
Regulatory Oversight ,
Regulatory Reform ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Securities Regulation ,
Settlement Agreements ,
Settlement Negotiations ,
Subpoenas ,
Wells Notice
On January 28, 2026, in Kuwait Ports Authority v. Crowell & Moring, 2026 WL 248824 (D.C. Cir. Jan. 28, 2026), the U.S. Court of Appeals for the D.C. Circuit granted an emergency stay of discovery orders which had compelled a...more
2/19/2026
/ 28 U.S.C. § 1782 ,
Appellate Courts ,
Attorney-Client Privilege ,
Cross-Border Transactions ,
Discovery ,
Discovery Disputes ,
Fiduciary Duty ,
International Litigation ,
Investment Funds ,
Limited Partnerships ,
Partnerships ,
Stays ,
Subpoenas ,
Work-Product Doctrine
Over the last several months, there have been a number of reports about a perceived drop-off in enforcement activity by the U.S. Securities and Exchange Commission, including in the area of insider trading....more
1/28/2026
/ 10b5-1 Plans ,
Compliance ,
Corporate Misconduct ,
Enforcement Actions ,
Financial Services Industry ,
Insider Trading ,
Investigations ,
Martin Act ,
Material Nonpublic Information ,
New York ,
Publicly-Traded Companies ,
Rule 10b-5 ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Securities Litigation ,
Securities Regulation ,
State Attorneys General ,
White Collar Crimes
In the new year, the U.S. Department of Justice’s corporate enforcement and investigative efforts will focus on customs and trade enforcement, immigration, and export controls....more
1/13/2026
/ Artificial Intelligence ,
China ,
Criminal Investigations ,
Customs ,
Customs and Border Protection ,
Cybersecurity ,
Department of Justice (DOJ) ,
Diversity and Inclusion Standards (D&I) ,
Energy Sector ,
Export Controls ,
False Claims Act (FCA) ,
Federal Contractors ,
Foreign Corrupt Practices Act (FCPA) ,
Immigration Enforcement ,
Immigration Procedures ,
International Trade ,
Latin America ,
Popular ,
Technology Sector
When a corporate crisis hits, companies and boards frequently retain outside counsel to conduct an internal investigation. Last year, in a decision that received widespread attention among outside and in-house investigative...more
Earlier this month, the U.S. Court of Appeals for the Second Circuit, arguably the most influential court in the country for federal securities law matters, issued an important decision regarding the scope of insider trading...more
9/24/2025
/ Appeals ,
Fiduciary Duty ,
Financial Institutions ,
Insider Trading ,
Investment Funds ,
Material Nonpublic Information ,
Misappropriation ,
Rule 10b-5 ,
Securities Exchange Act of 1934 ,
Securities Fraud ,
Securities Litigation ,
Securities Regulation ,
Shareholders
On June 9, 2025, the Deputy Attorney General of the United States Department of Justice issued “Guidelines for Investigations and Enforcement of the Foreign Corrupt Practices Act (FCPA)” (the “Memorandum”). The Memorandum...more
6/12/2025
/ Anti-Corruption ,
Bribery ,
Corruption ,
Criminal Investigations ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Executive Orders ,
Foreign Corrupt Practices Act (FCPA) ,
Investigations ,
Trump Administration ,
White Collar Crimes
On May 9, 2025, President Donald J. Trump signed a new Executive Order titled Fighting Overcriminalization in Federal Regulations, marking a significant policy shift in how federal agencies and the Department of Justice (DOJ)...more
On March 21, 2025, a unanimous Supreme Court held in Thompson v. United States that a federal statute prohibiting “false” statements to banks, 18 USC § 1014, does not apply to statements that are merely misleading. Although...more
The Trump administration’s focus on reducing government spending, its policies on trade and tariffs, and its focus on paring back diversity, equity, and inclusion (“DEI”) mandates may result in an increase in private suits,...more
On February 10, 2025 President Trump issued an executive order titled “Pausing Foreign Corrupt Practice Act Enforcement to Further American Economic and National Security.” The order directs the DOJ to halt Foreign Corrupt...more
2/13/2025
/ Anti-Corruption ,
Attorney General ,
Bribery ,
Compliance ,
Corporate Governance ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Executive Orders ,
Foreign Corrupt Practices Act (FCPA) ,
National Security ,
Regulatory Reform ,
Securities and Exchange Commission (SEC)
On February 5, 2025, the newly sworn-in United States Attorney General, Pamela Bondi, issued 14 memos to DOJ employees. The memos make clear that, under AG Bondi, DOJ’s enforcement efforts will focus on (i) immigration...more
On January 20, 2025, President Trump issued an executive order titled “Designating Cartels and Other Organizations as Foreign Terrorist Organizations and Specially Designated Global Terrorists.” The order directs the...more
Last month, the New York State Department of Financial Services (“DFS”), which has broad regulatory powers over financial services-related entities and insurance companies operating in New York State, published guidance...more
11/6/2024
/ Artificial Intelligence ,
Covered Entities ,
Cybersecurity ,
Data Management ,
Financial Institutions ,
Financial Services Industry ,
New York ,
NYDFS ,
Risk Assessment ,
Social Engineering ,
Third-Party ,
Training ,
Unauthorized Access
The SEC kicked off its fiscal year by bringing enforcement actions focused on AI and cyber disclosures. As discussed in more detail below:
•These actions again show SEC Enforcement prioritizing “hot button” issues like AI...more
On October 2, 2024, the Commodities Futures Trading Commission (“CFTC”), the Securities and Exchange Commission (“SEC”), and the United States Attorney’s Office for the Southern District of New York announced parallel...more
10/8/2024
/ Carbon Emissions ,
CEOs ,
CFTC ,
Civil Monetary Penalty ,
Commodity Exchange Act (CEA) ,
COOs ,
Energy Projects ,
Enforcement Actions ,
Environmental Social & Governance (ESG) ,
Fraud ,
Misleading Impressions ,
Misleading Statements ,
Securities and Exchange Commission (SEC) ,
Self-Disclosure Requirements ,
Tax Credits
On September 23, 2024, the Department of Justice updated its guidance on the Evaluation of Corporation Compliance Programs to include questions specifically focused on companies’ use and implementation of artificial...more