As news stories about AI have surged, so have enforcement actions by the SEC alleging fraudulent statements about AI capabilities....more
11/8/2024
/ Anti-Fraud Provisions ,
Artificial Intelligence ,
Cease and Desist ,
Civil Monetary Penalty ,
Compliance ,
Disgorgement ,
Enforcement Actions ,
False Statements ,
Investment Adviser ,
Misleading Statements ,
Misrepresentation ,
Offerings ,
Permanent Injunctions ,
Prejudgment Interest ,
Regulatory Agenda ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC)
Last week, the SEC announced settled charges against 23 companies and individuals for failing to timely file Section 16 reports on Forms 3, 4 or 5.
Additionally, two public companies were charged for contributing to late...more
10/4/2024
/ Analytics ,
Corporate Governance ,
Enforcement Actions ,
Failure To Disclose ,
Filing Deadlines ,
Filing Requirements ,
Neither Admit Nor Deny Settlements ,
Publicly-Traded Companies ,
Required Forms ,
Securities and Exchange Commission (SEC) ,
Statutory Penalties
On 24 May 2022, Glencore International AG announced a series of coordinated resolutions with various international enforcements agencies including the Department of Justice (”DOJ”), the Commodity Futures Trading Commission...more
6/13/2022
/ Bribery ,
CFTC ,
Conspiracies ,
Corruption ,
Criminal Conspiracy ,
Criminal Forfeiture ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Foreign Corrupt Practices Act (FCPA) ,
Government Investigations ,
Market Manipulation ,
Plea Agreements ,
Sentencing Factors ,
Serious Fraud Office (SFO) ,
Settlement Agreements ,
Settlement Negotiations ,
UK ,
UK Bribery Act ,
White Collar Crimes
Liu v. Securities and Exchange Commission, the U.S. Supreme Court decision this week affirming the SEC’s right to seek disgorgement, displayed a striking consensus on the securities regulatory agency’s ability to seek...more
6/26/2020
/ 15 U.S.C. § 78u(d)(5) ,
Administrative Authority ,
Business Expenses ,
Calculation of Damages ,
Corporate Misconduct ,
Disgorgement ,
Enforcement Actions ,
Equitable Relief ,
Kokesh v SEC ,
Lack of Authority ,
Liu v Securities and Exchange Commission ,
Net Profits ,
Remedies ,
SCOTUS ,
Securities and Exchange Commission (SEC)
The Securities and Exchange Commission has issued a reminder that when the business world returns to standard operations, enforcement actions will have a stinging bite. On April 16th the Commission announced that it will...more
The Department of Justice tweaked its FCPA Corporate Enforcement Policy to further incentivize corporations to make voluntary disclosures. These small changes essentially acknowledge that companies in a very early stage of an...more
The SEC’s most recent whistleblower awards highlight the importance of internal reporting to a company’s compliance program and especially how a company investigates and responds to such reports. On May 24, 2019, the SEC...more
On March 6, 2019, the Commodity Futures Trading Commission (CFTC) issued an Enforcement Advisory that applies to companies and individuals not registered with the CFTC that voluntarily disclose violations of the Commodities...more
Anti-Corruption enforcement remained a top priority in France, the UK, and the US in 2018. Join our firm's Global Anti-Corruption Team as they explain and analyze these three countries' anti-corruption enforcement efforts and...more
12/20/2018
/ Alstom ,
Anti-Bribery ,
Anti-Corruption ,
Bribery ,
Chief Compliance Officers ,
Civil Monetary Penalty ,
Compliance ,
Cooperation ,
Corruption ,
Enforcement Actions ,
Foreign Corrupt Practices Act (FCPA) ,
France ,
KBR (formerly Kellogg Brown & Root) ,
Petrobras ,
Risk Management ,
Siemens ,
Teva Pharmaceuticals ,
UK ,
Voluntary Disclosure ,
White Collar Crimes
On July 5, 2018, the SEC and the Department of Justice announced that Credit Suisse Group AG, has agreed to pay nearly $76 million to settle charges that its Hong Kong-based subsidiary, Credit Suisse (Hong Kong) Limited,...more
Anti-Corruption enforcement is a top priority in France, the UK, and the US. Each of these countries has armed its enforcers with the enforcement tools necessary to investigate and prosecute corporations and individuals. Join...more
4/19/2018
/ Acquisitions ,
Anti-Bribery ,
Anti-Corruption ,
Bribery ,
CJIP ,
Corruption ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Foreign Corrupt Practices Act (FCPA) ,
Foreign Official ,
France ,
Internal Audit Functions ,
OECD ,
Sapin II ,
Securities and Exchange Commission (SEC) ,
UK ,
UK Bribery Act ,
White Collar Crimes
Summary: Deferred prosecution agreements have been widely used by US prosecutors since the early 2000s. Prosecutors in the UK and France only obtained this power in 2014 and 2016 respectively – but they are making up for...more
4/13/2018
/ Anti-Bribery ,
Anti-Corruption ,
CJIP ,
Compliance ,
Corporate Crimes ,
Criminal Investigations ,
Deferred Prosecution Agreements ,
Department of Justice (DOJ) ,
Disgorgement ,
Enforcement Actions ,
France ,
Non-Prosecution Agreements ,
Serious Fraud Office (SFO) ,
UK ,
UK Bribery Act
Enforcement of the Foreign Corrupt Practices Act (FCPA) again remained a high priority for the Department of Justice and the Securities and Exchange Commission in 2017, resulting in 11 companies paying over $1.92 billion to...more
2/9/2018
/ Chief Compliance Officers ,
Compliance ,
Corporate Governance ,
Department of Justice (DOJ) ,
Enforcement ,
Enforcement Actions ,
Enforcement Authority ,
Facilitation Payments ,
Foreign Corrupt Practices Act (FCPA) ,
State-Owned Enterprises ,
Successor Liability
In the course of one week, the United States Securities and Exchange Commission announced awards to three whistleblowers totaling more than $20 million under the Dodd-Frank Whistleblower Program.
On November 30, the SEC...more
Anticorruption conventions and legislation have global reach and introduce compliance demands on companies to prevent bribery. If your business operates on the global market, there is a risk that your employees or...more
Enforcement of the Foreign Corrupt Practices Act was a high priority for the Department of Justice and the Securities and Exchange Commission in 2016. There's interest in how the new administration could impact enforcement as...more
6/16/2017
/ Alstom ,
Compliance ,
Cooperation ,
Enforcement Actions ,
Enforcement Statistics ,
Federal Pilot Programs ,
Foreign Corrupt Practices Act (FCPA) ,
Halliburton ,
KBR (formerly Kellogg Brown & Root) ,
Popular ,
Siemens ,
Teva Pharmaceuticals ,
Trump Administration ,
Voluntary Disclosure
If your company engages in international sales of products or services, there is a risk that your employees or representatives may take actions that run afoul of the FCPA. In recent years, DOJ and the SEC have stepped up...more
Enforcement of the Foreign Corrupt Practices Act (FCPA) remained a high priority for the Department of Justice and the Securities and Exchange Commission in 2016, resulting in more than 50 combined enforcement actions, record...more
2/8/2017
/ Books & Records ,
Chief Compliance Officers ,
Declination ,
Department of Justice (DOJ) ,
Disgorgement ,
Enforcement Actions ,
Enforcement Statistics ,
Federal Pilot Programs ,
Foreign Corrupt Practices Act (FCPA) ,
Foreign Subsidiaries ,
Securities and Exchange Commission (SEC) ,
Successor Liability ,
Voluntary Disclosure ,
Whistleblowers
The SEC recently charged a New York-based broker-dealer, Windsor Street Capital, L.P. (f/k/a Meyers Associates, L.P.) and John David Telfer, who acted as Windsor’s Chief Compliance and Anti-Money Laundering Officer for...more
On January 16, British engineering group Rolls-Royce Plc announced a global settlement of more than $800 million dollars with anti-corruption authorities in Britain, the U.S. and Brazil, making it the fifth-largest global...more
On January 6, 2017, the Securities and Enforcement Commission filed an Administrative Action announcing a settlement with two global agribusiness companies. The Order is brief and short on facts. ...more
Wednesday, the Department of Justice (DOJ) announced that 2016 was its third highest recovery year in False Claims Act (FCA) history. According to the press release, “DOJ obtained more than $4.7 billion in settlements and...more
On November 14, 2016, the United States Securities and Exchange Commission announced an award of at least $20 million to a whistleblower for providing information that initiated a successful investigation and enforcement...more
Breaking new ground, the Department of Justice (DOJ) recently issued two “declinations with disgorgement” to two companies accused of Foreign Corrupt Practices Act (FCPA) violations. These declinations, released under the...more
The Securities and Exchange Commission (SEC) recently announced a settlement with a Nevada corporation of its first stand-alone whistleblower anti-retaliation case. On September 29, the SEC announced a $500,000 sanction...more