On November 12, 2024, the DOJ Antitrust Division updated its Evaluation of Corporate Compliance Programs in Criminal Antitrust Investigations (ECCP), which was initially issued in 2019. The ECCP provides guidance to...more
11/21/2024
/ Algorithms ,
Antitrust Investigations ,
Antitrust Violations ,
Artificial Intelligence ,
Chief Compliance Officers ,
Civil Liability ,
Compliance ,
Corporate Crimes ,
Corporate Culture ,
Criminal Investigations ,
Department of Justice (DOJ) ,
Electronic Communications ,
Employee Training ,
Guidance Update ,
Risk Assessment ,
Technology ,
Training
In response to compliance officer personal liability concerns and increasing SEC regulations, Commissioner Peirce proposed the creation of a compliance advisory committee, which would bring together SEC regulators and...more
11/4/2024
/ Advisory Committee ,
Compliance ,
Continuing Legal Education ,
Corporate Misconduct ,
Corporate Officers ,
Criminal Liability ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Investment Adviser ,
Liability ,
Personal Liability ,
Securities and Exchange Commission (SEC) ,
State Bar Associations
DOJ has introduced the new three-year Pilot Program, managed by the Criminal Division’s Money Laundering and Asset Recovery Section, effective August 1. Under this Pilot Program, whistleblowers meeting certain criteria may be...more
8/9/2024
/ CFTC ,
Compliance ,
Corporate Crimes ,
Corporate Misconduct ,
Department of Justice (DOJ) ,
Federal Pilot Programs ,
FinCEN ,
Pilot Programs ,
Securities and Exchange Commission (SEC) ,
Self-Reporting ,
Voluntary Disclosure ,
Whistleblower Awards ,
Whistleblowers ,
White Collar Crimes
Adding to federal prosecutors’ tool kit in fighting global corruption, on December 14, 2023, Congress passed with bipartisan support, the Foreign Extortion Prevention Act (FEPA). As part of the National Defense Authorization...more
1/5/2024
/ Amended Legislation ,
Biden Administration ,
Bribery ,
Compliance ,
Corruption ,
Criminal Liability ,
Department of Justice (DOJ) ,
Extortion ,
Foreign Corrupt Practices Act (FCPA) ,
Foreign Official ,
Jurisdiction ,
National Security ,
NDAA ,
Public Officials ,
Transparency
On October 24, SEC Enforcement Director Gurbir Grewal addressed compliance professionals at the New York City Bar Association’s 2nd Annual Compliance Institute. His remarks focused on three topics: creating “a culture of...more
In an important policy announcement aimed at rewarding robust due diligence and compliance programs, DOJ announced that acquiring companies that promptly and voluntarily disclose criminal misconduct discovered at the acquired...more
10/10/2023
/ Acquisitions ,
Antitrust Division ,
Compliance ,
Cooperation ,
Corporate Crimes ,
Corporate Misconduct ,
Deadlines ,
Department of Justice (DOJ) ,
Disgorgement ,
Due Diligence ,
Enforcement ,
Mergers ,
National Security ,
Policies and Procedures ,
Policy Statement ,
Remediation ,
Restitution ,
Safe Harbors ,
Voluntary Disclosure
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
On Nov. 3, 2022, the SEC announced a consent order against a registered investment adviser (RIA) and its chief executive officer (CEO) for failing to reasonably supervise one of the RIA’s investment adviser representatives...more
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
On September 29, 2022, FinCEN issued a final rule requiring most corporations, limited liability companies and other entities created in or registered to do business in the United States to report information regarding their...more
10/7/2022
/ Anti-Money Laundering ,
Beneficial Owner ,
Board of Directors ,
Compliance ,
Corporate Officers ,
Corporate Transparency Act ,
Domestic Corporations ,
Final Rules ,
Financial Regulatory Agencies ,
FinCEN ,
Foreign Corporations ,
Reporting Requirements ,
U.S. Treasury
In prepared remarks delivered at New York University School of Law on Sept. 15, Deputy AG Monaco announced significant updates to the DOJ’s corporate criminal enforcement policies.
Deputy AG Monaco’s announcement...more
9/21/2022
/ Compliance ,
Compliance Monitoring ,
Corporate Crimes ,
Corporate Culture ,
Corporate Misconduct ,
Corporate Monitoring ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Enforcement Priorities ,
Personal Liability ,
Voluntary Disclosure ,
White Collar Crimes
On March 3, 2022, Attorney General Merrick B. Garland delivered a speech at the ABA Institute on White Collar Crime that underscored the Department of Justice’s (DOJ) commitment to prosecuting corporate crime and holding...more
Key Takeaways - Corporate enforcement and individual accountability are high priorities for new DOJ Criminal Division head Kenneth Polite. Companies should be proactive in implementing, monitoring, and improving their...more
On January 1, 2021, Congress overrode President Trump’s veto of the National Defense Authorization Act for Fiscal Year 2021, an omnibus bill that includes the Anti-Money Laundering Act of 2020 (the “AMLA”). The AMLA...more
The question of how to define the parameters of personal liability for compliance officers in the financial services industry has been around for several years. In a 2015 speech, then-SEC Enforcement Director Andrew Ceresney...more
Join BakerHostetler’s White Collar, Investigations and Securities Enforcement and Litigation team for a complimentary webinar on trends and predictions for 2019 in the cross-border government investigations and enforcement...more
4/25/2019
/ CFTC ,
Compliance ,
Continuing Legal Education ,
Criminal Investigations ,
Cross-Border ,
Defense Strategies ,
Department of Justice (DOJ) ,
Enforcement ,
Enforcement Authority ,
Foreign Nationals ,
Government Investigations ,
Regulatory Oversight ,
Securities and Exchange Commission (SEC) ,
Strategic Enforcement Plan ,
Webinars ,
White Collar Crimes
On July 30, 2015, Andrew Weissman, the chief of the Fraud Section of the U.S. Department of Justice (DOJ) Criminal Division, announced that the DOJ is in the process of hiring a former prosecutor to serve as a full-time...more