For years, regulators have emphasized that the starting point for maintaining an effective compliance program is understanding the particular risks the company faces. According to Munter, this same concept applies to...more
In a March 3 speech at the ABA’s Annual National Institute on White Collar Crime, Kenneth Polite, chief of the DOJ’s Criminal Division, announced that the Criminal Division’s Evaluation of Corporate Compliance Programs (the...more
On March 15, 2023, the U.S. Department of Justice (DOJ or the Department) launched a three-year Compensation Incentives and Clawbacks Pilot Program (Clawback Program) intended to incentivize companies to create more robust...more
3/30/2023
/ Chief Compliance Officers ,
Clawbacks ,
Compliance ,
Corporate Crimes ,
Corporate Misconduct ,
Department of Justice (DOJ) ,
Dodd-Frank ,
Executive Compensation ,
Incentives ,
Pilot Programs ,
Preemption ,
Section 10D ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
State Labor Laws ,
Wage and Hour
Monaco’s and Polite’s remarks, and the DOJ’s new policies and guidance, come amid the Department’s increasingly tough on corporate crime approach and emphasis on rewarding companies that have effective compliance programs...more
3/7/2023
/ Chief Compliance Officers ,
Compliance ,
Compliance Monitoring ,
Cooperation ,
Corporate Crimes ,
Corporate Culture ,
Corporate Misconduct ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Electronic Communications ,
Enforcement Priorities ,
Executive Compensation ,
Monaco Memo ,
Self-Disclosure Requirements
The compliance certification policy was first announced by Assistant Attorney General (Assistant AG) Kenneth Polite in March 2022, when he stated that for all criminal division “corporate resolutions (including guilty pleas,...more
10/21/2022
/ Certification Requirements ,
Certifications ,
Chief Compliance Officers ,
Compliance ,
Corporate Crimes ,
Criminal Convictions ,
Criminal Prosecution ,
Deferred Prosecution Agreements ,
Department of Justice (DOJ) ,
Guilty Pleas ,
Non-Prosecution Agreements ,
Plea Agreements
The U.S. Supreme Court’s decision in Dobbs, State Health Officer of the Mississippi Department of Health, et al. v. Jackson Women’s Health Organization, et al. has created profound uncertainty for individuals and entities...more
On August 14, 2020, the Department of Justice (the “DOJ”) issued its first Foreign Corrupt Practices Act (the “FCPA”) advisory opinion in almost six years....more
On the eve of the July 4th holiday, the Criminal Division of the Department of Justice (the “DOJ”) and the Enforcement Division of the Securities and Exchange Commission (the “SEC”) quietly published the second edition of the...more
On October 12, 2018, at the NYU School of Law Program on Corporate Compliance and Enforcement Conference, Brian A. Benczkowski, Assistant Attorney General for the Department of Justice’s Criminal Division, announced new...more
A year after a global anti-bribery standard was implemented by the International Standards Organization (“ISO”), a slow trend is emerging among major corporations, such as Microsoft and Wal-Mart, announcing they will seek...more
Developments in Policy and Regulations, Enforcement, Technology and Litigation -
Financial services are constantly evolving as laws, regulations, technologies and policies change.
BakerHostetler and the Ohio Bankers...more
In the environment of increasingly aggressive regulatory and criminal enforcement of anti-money laundering (AML) violations, concerns about de-risking – when financial institutions close accounts or restrict access to new...more
On June 1, 2016, the Securities and Exchange Commission (SEC) for the first time ever charged a broker-dealer in a stand-alone action for failing to file suspicious activity reports (SARs) as required by the federal...more
Both the United States Department of Justice (DOJ) and the United States Securities and Exchange Commission (SEC) have continued their focus on anticorruption enforcement in 2015. Although there was a decline in enforcement...more
4/20/2016
/ Corporate Fraud ,
Corruption ,
Criminal Prosecution ,
Deferred Prosecution Agreements ,
Department of Justice (DOJ) ,
Foreign Corrupt Practices Act (FCPA) ,
Government Investigations ,
Securities and Exchange Commission (SEC) ,
Self-Reporting ,
Settlement ,
White Collar Crimes ,
Yates Memorandum
Pursuing a classic “carrot and stick” approach to incentivizing corporate self-disclosure of FCPA violations and individual wrongdoing connected to FCPA violations, the Department of Justice (DOJ) Fraud Section announced a...more
BakerHostetler’s final hedge fund program of 2015 provided practical advice to hedge funds and investment advisers for the coming year. The presentations focused on “Hedge Fund Hot Topics for 2016,” “How to Effectively Manage...more
The investigation and prosecution of tax evasion has, in the past decade, grown from a specialized subcategory of law enforcement into a first-tier policy concern for the international community. Financial institutions,...more
Despite a decline in enforcement actions by the Securities Exchange Commission (“SEC”) and the Department of Justice (“DOJ”), the first half of 2015 has continued to highlight the relevance and ever-evolving effects of the...more
10/14/2015
/ Aerospace ,
Africa ,
Angola ,
Anti-Bribery ,
Anti-Corruption ,
Anti-Money Laundering ,
Avon ,
BHP Billiton ,
Brazil ,
Bribery ,
China ,
Clean Companies Act ,
Compliance ,
Corruption ,
Criminal Investigations ,
Criminal Prosecution ,
Deferred Prosecution Agreements ,
Department of Justice (DOJ) ,
Derivative Suit ,
DPA ,
Eli Lilly ,
Enforcement Actions ,
Federal Contractors ,
Federal Prosecutors ,
Fokker ,
Football ,
Foreign Corrupt Practices Act (FCPA) ,
Fraud ,
Goodyear ,
Hospitality Programs ,
India ,
Indictments ,
Medicaid ,
Medicare ,
Money Laundering ,
Olympics ,
PBSJ Corporation ,
PetroTiger ,
Popular ,
Public Utility ,
Racketeering ,
Russia ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Serious Fraud Office (SFO) ,
Settlement ,
Soccer ,
Sports ,
State-Owned Enterprises ,
Subject Matter Jurisdiction ,
UK Bribery Act ,
Wal-Mart ,
Whistleblowers ,
White Collar Crimes ,
Wire Fraud ,
World Cup
On August 25, 2015, the Financial Crimes Enforcement Network (FinCEN) proposed rulemaking that would require registered investment advisers, including certain hedge funds and asset managers, to establish anti-money laundering...more
9/3/2015
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Banking Sector ,
Banks ,
Broker-Dealer ,
BSA/AML ,
Currency Transaction Reports (CTR) ,
Enforcement Actions ,
FATCA ,
Financial Institutions ,
Financial Regulatory Reform ,
FinCEN ,
Investment Adviser ,
Money Laundering ,
Office of Foreign Assets Control (OFAC) ,
Securities and Exchange Commission (SEC) ,
Suspicious Activity Reports (SARs) ,
White Collar Crimes
Over the course of 2014, the Department of Justice (“DOJ”) and the Securities and Exchange Commission (“SEC”) have continued their aggressive enforcement of the Foreign Corrupt Practices Act (“FCPA”). This has led to critical...more
The first half of 2014 has seen several important developments in the enforcement of the Foreign Corrupt Practices Act (“FCPA”) as well as other anti-corruption laws worldwide. The FCPA has been in existence for more than 35...more
Earlier this month, the Department of Justice announced the indictment of 13 individuals associated with the hacker organization Anonymous for a widespread scheme to disrupt and shut down commercial and government websites....more
As BakerHostetler recently reported in its FCPA Mid-Year Update, the phenomenon of parallel prosecutions is gaining popularity as more countries enact and enforce anti-corruption legislation....more
8/22/2013
/ Anti-Corruption ,
Canada ,
Compliance ,
Corruption ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Enforcement ,
Foreign Corrupt Practices Act (FCPA) ,
Securities and Exchange Commission (SEC) ,
UK ,
UK Bribery Act
Lance Armstrong and the world of competitive cycling has come under great scrutiny in recent days with the domination of the U.S. Postal team now undermined by the systematic doping that appears to have helped spur the team...more
Welcome to the inaugural edition of BakerHostetler's The Navigator, your source for news, trends, research and reliable commentary on white collar defense, corporate investigations, monitorships, examinerships and...more