On October 25, 2016, the Financial Crimes Enforcement Network (“FinCEN”) issued an advisory (the “Advisory”) explaining the obligations a “financial institution” might have under the Bank Secrecy Act (“BSA”) regarding...more
Global tax evasion remains a major problem for governments around the world. At a time when virtually all of the governments from the world’s major economies seek additional revenue, the attractiveness to taxpayers of...more
In False Claims Act (“FCA”) cases, the Department of Justice and, where the government has declined to intervene, qui tam plaintiffs, routinely pursue aggressive damages theories. In its recent decision in U.S. ex rel. Wall...more
Under Securities and Exchange Commission (“SEC”) authorization, the Financial Industry Regulatory Authority (“FINRA”) is “responsible for regulating (1) all securities firms that do business with the public[,]” (2) key stock...more
4/25/2016
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Broker-Dealer ,
Compliance ,
Corporate Culture ,
Enforcement Actions ,
Examination Priorities ,
Financial Industry Regulatory Authority (FINRA) ,
FinCEN ,
Risk Management ,
Securities and Exchange Commission (SEC)
As Pennsylvania legislators work to resolve the budget impasse, proponents of enacting a Pennsylvania False Claims Act (“PA FCA”) targeting Medicaid continue to intensify their efforts in Harrisburg. Legislators may consider...more
In an unprecedented event earlier this week, 11.5 million files from the Panamanian law firm Mossack Fonseca were allegedly leaked. Assuming they are genuine, as appears to be the case, these “Panama Papers” offer a...more
4/12/2016
/ Anti-Corruption ,
Bribery ,
BSA/AML ,
Criminal Penalties ,
Department of Justice (DOJ) ,
Due Diligence ,
Enforcement Actions ,
FinCEN ,
Foreign Corrupt Practices Act (FCPA) ,
Money Laundering ,
Panama Papers ,
Risk Mitigation ,
Securities and Exchange Commission (SEC) ,
Shell Corporations ,
Young Lawyers
In September 2015, a U.S. Department of Health and Human Services (HHS), Office of the Inspector General (OIG), report found that the Office of Civil Rights (OCR), the agency charged with ensuring compliance with the Health...more
On November 17, 2015, Deputy Treasury Secretary Sarah Bloom Raskin devoted her remarks at the Clearing House Annual Conference to financial sector cybersecurity. She concluded with a list of recommendations for handling...more
New York Attorney General (“NYAG”) Eric Schneiderman has claimed that daily fantasy sports (“DFS”) sites, including FanDuel and DraftKings, violate New York state gambling laws. He has issued cease-and-desist letters, giving...more
One of the factors that the U.S. Department of Justice (DOJ) considers in deciding whether to bring charges against a corporation is the existence and effectiveness of the corporation’s pre-existing compliance program. On...more
11/5/2015
/ Anti-Bribery ,
Anti-Corruption ,
Banking Sector ,
Banks ,
Bribery ,
Compliance ,
Corporate Counsel ,
Corporate Fraud ,
Corruption ,
Department of Justice (DOJ) ,
Financial Institutions ,
Government Investigations ,
White Collar Crimes
This alert addresses the explosion in popularity of daily fantasy sports (“DFS”) sites and the money-laundering potential that DFS sites may offer to criminals around the world. It then explains potential legal liability...more
11/2/2015
/ Advertising ,
Anti-Money Laundering ,
Bank Secrecy Act ,
Banking Sector ,
Banks ,
BSA/AML ,
Compliance ,
Department of Justice (DOJ) ,
Fantasy Sports ,
Financial Institutions ,
FinCEN ,
Football ,
Gambling ,
Money Laundering ,
Office of Foreign Assets Control (OFAC) ,
Online Gaming ,
Online Platforms ,
SAR ,
Sports ,
Sports Gambling ,
Suspicious Activity Reports (SARs) ,
Unlawful Internet Gambling Enforcement Act (UIGEA) ,
Venture Capital
On September 9, 2015, the U.S. Department of Justice (“DOJ” or the “Department”) issued a memorandum to its staff revising the principles guiding criminal and, indeed, civil enforcement in corporate criminal investigations...more
A phenomenon virtually foreign to the 20th Century, the use of pre-plea agreements by the Department of Justice (“DOJ”), typically in the form of a deferred prosecution agreement (“DPA”) (or a non-prosecution agreement...more
On October 10, 2014, the United States Department of Justice (“DOJ”) announced a civil settlement agreement (the “Settlement”) with Extendicare Heath Services, Inc. and its subsidiary Progress Step Corporation (collectively,...more
10/23/2014
/ Corporate Integrity Agreement ,
Department of Health and Human Services (HHS) ,
Department of Justice (DOJ) ,
False Claims Act (FCA) ,
Healthcare ,
Medicaid ,
Medical Malpractice ,
Medical Reimbursement ,
Medicare ,
Non-Judicial Settlement Agreements ,
OIG ,
Skilled-Care Providers ,
Standard of Care ,
Worthless Services Claims
In light of these new realities corporations face, the first step a company should take is to establish internal guidelines addressing interaction with government agents. Companies should have a response policy in place and...more
Whistleblowers who work for the federal government recently received greater protection under federal law. These additional protections are significant and close prior gaps in the protections afforded by previous statutes and...more
In a pending False Claims Act (“FCA”) case involving allegations of noncompliance with the federal physician self-referral law (the “Stark Law”), 42 U.S.C. § 1395nn, the United States District Court for the Middle District of...more
On December 3, 2012, a divided Second Circuit held in United States v. Caronia (“Caronia”) that the misbranding provisions of the Federal Food, Drug, and Cosmetic Act (“FDCA”) do not criminalize “the truthful off-label...more