On December 5, 2017, a Florida federal magistrate judge ordered a law firm to turn over interview notes and memoranda from an internal investigation, finding that any applicable privilege had been waived when attorneys gave...more
The New York State Department of Financial Services (DFS) recently issued guidance to regulated banking institutions (Institutions) prohibiting them from implementing incentive-based compensation programs unless these...more
While countless news outlets have reported the recent Congressional override of President Obama’s veto of the Justice Against Sponsors of Terrorism Act (JASTA), few have given much thought to the more nuanced consequences...more
Companies face ever-increasing pressures to implement mechanisms designed to prevent or effectively address employee malfeasance. In today’s environment, even companies who appear to be cooperating with investigative and...more
Following recent regulatory announcements and legal decisions, internal investigations are becoming increasingly more complicated to navigate. Join Sutherland for a moderated roundtable where our experienced practitioners...more
On June 16, the U.S. Court of Appeals for the Second Circuit upheld the right of a company to terminate for cause executives who refuse to cooperate with an internal investigation and remain “silent” even with the specter of...more
6/29/2016
/ Bid Rigging ,
Board of Directors ,
Cooperation ,
Corporate Executives ,
Criminal Investigations ,
Employee Benefits ,
Hiring & Firing ,
Internal Investigations ,
Just Cause ,
Summary Judgment ,
Termination ,
Yates Memorandum
Recently, the U.S. Securities and Exchange Commission (SEC or the Commission) proposed a controversial new rule under the Dodd-Frank Act that instructs companies to establish policies that require “executive officers” to...more
On January 23, 2015, the Securities Industry and Financial Markets Association (SIFMA) released a new white paper outlining the unique and varied challenges broker-dealers face when complying with state unclaimed property...more
Confirming that auditor independence continues to be a regulatory priority, the Securities and Exchange Commission (SEC or Commission) and the Public Company Accounting Oversight Board (PCAOB) issued orders on December 8,...more
On December 1, 2014, the Financial Industry Regulatory Authority’s (FINRA) Consolidated Supervision Rules will take effect. The Consolidated Supervision Rules, which were approved by the U.S. Securities and Exchange...more
To ensure that broker-dealers (BDs) do not inadvertently facilitate an unlawful distribution of securities, the Securities and Exchange Commission has long required BDs to conduct a “reasonable inquiry” into the circumstances...more
Financial Industry Regulatory Authority (FINRA) Member Firms have new language to include in their settlement and confidentiality agreements. On October 9, FINRA released Regulatory Notice (RN) 14-40, warning that firms are...more
On July 22, the U.S. Securities and Exchange Commission (SEC) approved the Financial Industry Regulatory Authority’s (FINRA) proposed Rule 2081, which prevents firms or associated persons from conditioning settlement or...more
On June 3, 2014, the Securities and Exchange Commission (SEC or Commission) issued a whistleblower award to two individuals who had provided information leading to a successful SEC enforcement action. The whistleblower...more
On May 12, Judge James Lawrence King of the U.S. District Court for the Southern District of Florida dismissed with prejudice the U.S. Securities and Exchange Commission’s (SEC) case against five defendants in an action...more
In the first SOX whistleblower case to be heard by the U.S. Supreme Court, the Court held on March 4 that the Sarbanes-Oxley Act of 2002 (SOX) prohibits private contractors of publicly traded companies from retaliating...more
On January 31, 2014, the U.S. Securities and Exchange Commission’s (SEC) Division of Trading and Markets issued a No-Action Letter (Letter)1 that allows a private business broker (M&A Broker) to receive transaction-based...more
On January 28, 2014, the U.S. Securities and Exchange Commission (SEC) Office of Compliance Inspections and Examinations (OCIE) issued a Risk Alert entitled: Investment Adviser Due Diligence Processes for Selecting...more