David Miller, the newly appointed director of the CFTC’s Division of Enforcement, recently outlined the agency’s enforcement priorities, including in the $400 trillion swaps markets, which encompasses prediction markets....more
4/10/2026
/ AML/CFT ,
Anti-Money Laundering ,
CFTC ,
Commodity Exchange Act (CEA) ,
Cooperation ,
Derivatives ,
Dodd-Frank ,
Enforcement ,
Enforcement Actions ,
Enforcement Priorities ,
Fraud ,
Insider Trading ,
Market Manipulation ,
Swaps
Each week for the next 10 weeks, we will publish an installment of our Red Flags Everywhere! series, highlighting key risk areas that public companies and their boards of directors should keep top of mind.
This week, we...more
4/3/2026
/ 10b5-1 Plans ,
Board of Directors ,
Corporate Governance ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Insider Trading ,
Internal Controls ,
Material Nonpublic Information ,
Policies and Procedures ,
Publicly-Traded Companies ,
Risk Management ,
Rule 10b-5 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act of 1934 ,
Securities Fraud ,
Securities Regulation
On February 24, 2026, the United States Attorney’s Office for the Southern District of New York (the “Office”) revised and expanded its “Corporate Enforcement and Voluntary Self-Disclosure Program for Financial Crimes” (the...more
3/3/2026
/ Corporate Misconduct ,
Criminal Prosecution ,
Declination ,
Deferred Prosecution Agreements ,
Department of Justice (DOJ) ,
Disclosure Requirements ,
Enforcement Actions ,
Financial Crimes ,
New York ,
Non-Prosecution Agreements ,
Regulatory Oversight ,
Regulatory Requirements ,
Reporting Requirements ,
Risk Management ,
Self-Disclosure Requirements ,
Self-Reporting ,
U.S. Attorney ,
White Collar Crimes
In case there was any doubt, insider trading enforcement—including DOJ criminal and SEC civil charges—remains a priority to kick off the new year. Last week, the U.S. Attorney’s Office for the District of Massachusetts...more
1/21/2026
/ Clinical Trials ,
Consultants ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Insider Trading ,
Material Nonpublic Information ,
Publicly-Traded Companies ,
Rule 10b-5 ,
Securities and Exchange Commission (SEC) ,
Securities Fraud
The CFTC issued the Policy Statement and prior Staff Advisory Letter 25-19 in response to Executive Order 14294, “Fighting Overcriminalization in Federal Regulations,” issued on May 9, 2025. The Executive Order directs...more
10/22/2025
/ CFTC ,
Criminal Investigations ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Executive Orders ,
Policies and Procedures ,
Regulatory Oversight ,
Regulatory Reform ,
Reporting Requirements ,
White Collar Crimes
Morrison Foerster’s State and Local Government Task Force is pleased to provide our bimonthly newsletter summarizing some of the most important and interesting developments from state attorneys general (“State AGs”) across...more
8/5/2025
/ Artificial Intelligence ,
Cryptocurrency ,
Enforcement Actions ,
Environmental Justice ,
Financial Fraud ,
Fraud ,
Gambling ,
New Legislation ,
Popular ,
Sports Betting ,
State and Local Government ,
State Attorneys General ,
Unfair or Deceptive Trade Practices
On April 17, 2025, three operating divisions (the “Operating Divisions”) of the U.S. Commodity Futures Trading Commission (“CFTC”) and the Division of Enforcement (“DOE”) provided guidance in CFTC Letter 25-13 (the...more
4/29/2025
/ CFTC ,
Disclosure Requirements ,
Enforcement Actions ,
Financial Crimes ,
Materiality ,
New Guidance ,
Penalties ,
Regulatory Requirements ,
Reporting Requirements ,
Risk Management ,
Self-Reporting
The Advisory sets out factors that the Enforcement Division will use to rate self-reporting and cooperation. This rating places a company or individual within a “tier” used to determine the Mitigation Credit amount available....more
Morrison Foerster partners Kate Driscoll and Nate Mendell, both former federal prosecutors and members of the firm’s Investigations + White Collar Defense Group, hosted the eighth episode of When Your Life Sciences Are on the...more
2/25/2025
/ Department of Justice (DOJ) ,
Enforcement Actions ,
Fraud ,
Insider Trading ,
Internal Controls ,
Life Sciences ,
Mergers ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Securities Regulation ,
Thought Leadership ,
White Collar Crimes
The New York Attorney General (NYAG) is expected to increase enforcement actions in 2025, especially with the enactment of several new laws designed to strengthen consumer protection and employment. At the federal level, the...more
2/25/2025
/ Antitrust Provisions ,
Climate Change ,
Consumer Protection Laws ,
Cryptocurrency ,
Cybersecurity ,
Enforcement Actions ,
Environmental Policies ,
Greenwashing ,
Popular ,
Privacy Laws ,
State Attorneys General
Morrison Foerster partner Carrie H. Cohen, global co-chair of the Investigations + White Collar Defense Group and State + Local Government Enforcement team, spoke with Edward Imperatore, a partner in MoFo’s Investigations +...more
The year 2024 remained a busy one for state attorneys general (State AGs) and 2025 promises to be even busier. To assist in-house counsel, compliance professionals, and defense lawyers navigate the 2025 State AG enforcement...more
1/7/2025
/ Antitrust Violations ,
Artificial Intelligence ,
Consumer Protection Laws ,
Cybersecurity ,
Department of Justice (DOJ) ,
Disclosure Requirements ,
Emerging Technologies ,
Environmental Policies ,
False Claims Act (FCA) ,
Financial Industry Regulatory Authority (FINRA) ,
Merger Controls ,
Monopolization ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Social Media ,
State Attorneys General ,
Trump Administration ,
Unfair or Deceptive Trade Practices
As election season peaks, derivatives trading platforms are listing “election contracts,” which enable purchasers to bet fiat and crypto on the outcome of U.S. presidential and other elections. Election contracts are a type...more
The ECCP is intended to assist federal prosecutors in determining whether a corporation’s compliance program was effective at the time of the alleged offense(s) and, if not, what type of enforcement, monetary penalty, and...more
On August 1, 2024, Deputy Attorney General Lisa Monaco announced the launch of DOJ’s Corporate Whistleblower Awards Pilot Program (Pilot Program). The Pilot Program, previewed by Monaco in March 2024, provides another avenue...more
8/7/2024
/ BSA/AML ,
CFTC ,
Corruption ,
Department of Justice (DOJ) ,
False Claims Act (FCA) ,
FinCEN ,
Healthcare Fraud ,
Pilot Programs ,
Securities and Exchange Commission (SEC) ,
Voluntary Disclosure ,
Whistleblower Awards ,
Whistleblowers ,
White Collar Crimes
On June 21, 2024, a jury in California federal court found a former chief executive officer of a publicly traded healthcare company guilty of insider trading in United States v. Peizer, the first criminal insider-trading case...more
On April 15, 2024, the Criminal Division of the Department of Justice (DOJ) announced a new pilot program setting forth the circumstances in which it will offer non-prosecution agreements (NPAs) to individuals who voluntarily...more
On April 5, 2024, a jury in California federal court found a former corporate executive liable for insider trading in SEC v. Panuwat, a novel enforcement action involving a theory known as “shadow trading.” In Panuwat, the...more
On March 7, 2024, during her keynote remarks at the American Bar Association’s 39th National Institute on White Collar Crime, Deputy Attorney General Lisa Monaco announced a new Department of Justice (DOJ) Criminal Division...more
3/19/2024
/ Asset Recovery ,
CFTC ,
Corporate Crimes ,
Corporate Misconduct ,
Department of Justice (DOJ) ,
FinCEN ,
Foreign Corrupt Practices Act (FCPA) ,
Money Laundering ,
Non-Prosecution Agreements ,
Pilot Programs ,
Self-Reporting ,
Whistleblower Awards ,
Whistleblowers ,
White Collar Crimes
The year 2023 was a busy one for regulatory, compliance, and enforcement developments in the healthcare and life sciences industries, and 2024 promises to be even busier. We tapped MoFo’s Life Sciences + Healthcare Compliance...more
1/10/2024
/ Anti-Kickback Statute ,
Antitrust Violations ,
Artificial Intelligence ,
CDRH ,
Cyber Attacks ,
Cybersecurity ,
Data Security ,
Department of Justice (DOJ) ,
Enforcement ,
Enforcement Actions ,
False Claims Act (FCA) ,
Food and Drug Administration (FDA) ,
Foreign Corrupt Practices Act (FCPA) ,
Health Insurance Portability and Accountability Act (HIPAA) ,
Healthcare Fraud ,
Life Sciences ,
Medical Devices ,
OPDP ,
Popular ,
Ransomware ,
Securities and Exchange Commission (SEC)
Earlier this month, Deputy Attorney General Lisa O. Monaco announced an important extension of DOJ’s voluntary self-disclosure policy aimed specifically at incentivizing companies engaged in mergers and acquisitions “to...more
11/1/2023
/ Aggravating Factors ,
Corporate Misconduct ,
Department of Justice (DOJ) ,
Due Diligence ,
Integration ,
Mergers ,
Risk Mitigation ,
Safe Harbors ,
Self-Disclosure Requirements ,
Voluntary Disclosure ,
White Collar Crimes
On October 17, 2023, during a speech at the Program on Corporate Compliance and Enforcement held at the New York University School of Law, the Commodity Futures Trading Commission (CFTC) Director of Enforcement, Ian McGinley,...more
Overall cryptocurrency crime levels are down, according to a report from Chainalysis reviewing crypto crime trends, but this past year has still seen certain categories of crypto crime, such as ransomware, continue to...more
On May 24, 2023, Edward A. Imperatore, a partner in Morrison Foerster’s Investigations + White-Collar Defense group and former Assistant U.S. Attorney for the Southern District of New York, moderated a panel, entitled “Market...more
On March 3, 2023, Kenneth A. Polite, Jr., the Assistant Attorney General (“AAG”) of the Criminal Division of the U.S. Department of Justice (“DOJ”), announced the launch of the Division’s Pilot Program on Compensation...more