This issue of Skadden’s semiannual Cross-Border Investigations Update takes a close look at recent cases, regulatory activity and other key developments, including the use of legal holds in cross-border investigations,...more
8/29/2018
/ China ,
Civil Monetary Penalty ,
Cooperation ,
Criminal Investigations ,
Cross-Border Transactions ,
Cryptocurrency ,
Cybersecurity ,
Data Breach ,
Data Protection ,
Department of Justice (DOJ) ,
Enforcement Actions ,
EU ,
Fee Reductions ,
General Data Protection Regulation (GDPR) ,
Initial Coin Offering (ICOs) ,
Personal Liability ,
Popular ,
Privileged Communication ,
Serious Fraud Office (SFO) ,
Settlement ,
Trump Administration ,
UK
On June 29, 2018, the U.S. Commodity Futures Trading Commission (CFTC) and the U.S. Securities and Exchange Commission (SEC, and together the Commissions) announced that the Commissions approved a memorandum of understanding...more
7/10/2018
/ CFTC ,
Commodities ,
Derivatives ,
Dodd-Frank ,
FX Swaps ,
Information Sharing ,
Memorandum of Understanding ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC) ,
Security-Based Swaps ,
Swaps ,
Trump Administration ,
Virtual Currency
One year into the Trump administration, it remains difficult to forecast what lies ahead with respect to regulatory and white collar enforcement activity. Perhaps most instructive are recent public statements of officials at...more
1/29/2018
/ Broken Windows ,
CFTC ,
Civil Monetary Penalty ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Foreign Corrupt Practices Act (FCPA) ,
Fraud ,
Material Disclosures ,
Multi-Jurisdictional Litigation ,
Municipal Securities Issuers ,
Omissions ,
Ponzi Scheme ,
Retail Investors ,
Securities and Exchange Commission (SEC) ,
Self-Reporting ,
Trump Administration ,
White Collar Crimes
In a speech yesterday at the 34th International Conference on the Foreign Corrupt Practices Act, U.S. Deputy Attorney General Rod Rosenstein announced the Department of Justice’s (DOJ) revised Foreign Corrupt Practices Act...more
12/1/2017
/ Compliance ,
Corporate Crimes ,
Corporate Misconduct ,
Department of Justice (DOJ) ,
Disgorgement ,
Enforcement Actions ,
Ethics ,
Federal Pilot Programs ,
Federal Sentencing Guidelines ,
Foreign Corrupt Practices Act (FCPA) ,
Personal Liability ,
Voluntary Disclosure
Upon discovering a potential violation, a company is often faced with the dilemma of whether to self-report the incident to its regulator or attempt to deal with the incident through exclusively internal means. On September...more
On August 7, 2017, the Commodity Futures Trading Commission (CFTC or Commission) announced a settlement for a civil penalty of $600,000 with the Bank of Tokyo Mitsubishi UFJ, Ltd. (BTMU) for alleged spoofing violations, with...more
8/16/2017
/ Appeals ,
CFTC ,
Civil Monetary Penalty ,
Commodities Traders ,
Commodity Exchange Act (CEA) ,
Constitutional Challenges ,
Criminal Prosecution ,
Enforcement Actions ,
Japan ,
Settlement Agreements ,
Spoofing ,
Vagueness
In a unanimous decision issued on June 5, 2017, the U.S. Supreme Court, in Kokesh v. SEC, 581 U.S. ___, held that disgorgement in securities enforcement cases is a “penalty” within the meaning of 28 U.S.C. § 2462, the general...more
On January 19, 2017, the U.S. Commodity Futures Trading Commission’s Division of Enforcement issued two new enforcement advisories outlining the factors the division will consider in evaluating cooperation in the agency’s...more
Forecasting the enforcement priorities of the Department of Justice (DOJ) under the Trump administration is difficult at best. Previous statements from both President Donald Trump and his nominee for attorney general, U.S....more
2/2/2017
/ Attorney General ,
Banks ,
Corporate Liability ,
Corporate Misconduct ,
Criminal Prosecution ,
Deregulation ,
Dodd-Frank ,
Financial Institutions ,
Foreign Corrupt Practices Act (FCPA) ,
Personal Liability ,
Political Appointments ,
Repeal ,
Trump Administration ,
White Collar Crimes ,
Yates Memorandum
The Department of Justice (DOJ or Department) released updated guidance on the Antitrust Division’s Leniency Program, on January 17, 2017. The Leniency Program allows corporations and individuals who self-report their cartel...more
1/28/2017
/ ACPERA ,
Antitrust Division ,
Antitrust Violations ,
Bid Rigging ,
Cartels ,
Corporate Counsel ,
Corporate Misconduct ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Foreign Corrupt Practices Act (FCPA) ,
Immunity ,
Leniency Programs ,
Sherman Act ,
White Collar Crimes
On December 6, 2016, the U.S. Supreme Court in Salman v. United States unanimously held that an insider's gift of confidential information to a "trading relative or friend" is sufficient to establish the personal benefit to...more