Stock traders who thought they could trade freely on gifts of inside information so long as the givers were not their close friends should rethink their strategy. The U.S. Court of Appeals for the Second Circuit this week...more
We often are asked how the U.S. government finds out about potential Foreign Corrupt Practices Act (FCPA) violations. Internal company whistleblowers are perhaps the main source....more
On July 25, 2017, the SEC announced another whistleblower award – this one for almost $2.5 million. What sets this award apart from earlier awards is its recipient – “an employee of a domestic government agency.” The Order...more
On July 19, 2017, the United States Court of Appeals for the Second Circuit issued a decision that could impact prosecutions of corporate employees that result from multi-jurisdictional investigations, such as those involving...more
On the last day of its current session, the Supreme Court announced it will consider whether the Dodd-Frank whistleblower protections extend to corporate insiders who blow the whistle on their employers by reporting the...more
DC Partner Mark Sere and DC Senior Associate Kristin Robinson have presented a webinar providing a mid-year update on the FCPA. In it, Mark and Kristin read the tea leaves on whether the Trump Administration was going to be...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
A five-year statute of limitations applies to actions by the Securities and Exchange Commission for disgorgement, the U.S. Supreme Court ruled today. The decision imposes a significant new limit on the SEC’s ability to seek...more
A recent decision by Judge Rosemary M. Collyer of the U.S. District Court for the District of Columbia is a stark reminder that neither the attorney-client privilege nor the work product doctrine automatically protects...more
In the past two weeks, the United States Securities and Exchange Commission announced the first two awards it has granted to whistleblowers under the Trump administration.
On April 25, 2017, the SEC announced an award of...more
Following a recent federal court ruling, parties contemplating an advice of counsel defense must consider carefully the scope of the accompanying attorney-client privilege waiver. In United States ex rel. Lutz v. Berkeley...more
Effective compliance programs continue to gain importance. Across all industries, it is imperative that meaningful compliance programs are in place and that they are regularly assessed to account for new risks and changes in...more
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
False Claims Act (“FCA”) cases involving medical necessity continue to receive great attention. A March 7, 2017 opinion that overruled a jury’s criminal fraud conviction of a cardiologist demonstrates the broader implications...more
On March 10, a U.S. Justice Department official announced that agency will continue its one-year Pilot Program, which was introduced by DOJ’s Fraud Section and set to expire on April 5 of this year. As we described in an...more
While all hoped the Fourth Circuit would finally provide some clarity regarding the use of statistical sampling in False Claims Act (FCA) cases, Valentine’s Day 2017 yielded some surprising events for those awaiting the...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
Normally, a scheme to defraud another individual would be a state crime, prosecuted and sentenced at the state level (leaving aside use of U.S. mail or wires). To be convicted of the state crime of fraud usually requires...more
On November 15, 2016, the Securities and Exchange Commission (“SEC”) released its annual report to Congress on the Dodd-Frank Whistleblower Program (the “Program”). As noted in prior reports, the past year has been historic...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