In a speech on October 24, 2023, the director of the Securities and Exchange Commission’s (SEC’s) Enforcement Division, Gurbir Grewal, described the scenarios in which the commission would bring an enforcement action against...more
On July 26, 2023, the U.S. Department of Justice’s (DOJ’s) National Security Division (NSD), the U.S. Department of Commerce’s Bureau of Industry and Security (BIS), and the U.S. Department of the Treasury’s Office of Foreign...more
8/1/2023
/ Bureau of Industry and Security (BIS) ,
Compliance ,
Department of Justice (DOJ) ,
Economic Sanctions ,
Enforcement Actions ,
Export Controls ,
International Trade ,
National Security ,
Office of Foreign Assets Control (OFAC) ,
Self-Disclosure Requirements ,
U.S. Commerce Department ,
U.S. Treasury ,
Voluntary Disclosure ,
Whistleblowers
DOJ Increases Resources To Investigate and Prosecute Sanctions Evasion and Export Control Violations -
On March 2, 2023, during a keynote speech at the American Bar Association’s annual White Collar Crime National...more
3/17/2023
/ Anti-Corruption ,
Bureau of Industry and Security (BIS) ,
Compliance ,
Corporate Entities ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Economic Sanctions ,
EU ,
Export Controls ,
Exports ,
Financial Institutions ,
Foreign Corrupt Practices Act (FCPA) ,
International Trade ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
Self-Disclosure Requirements ,
U.S. Commerce Department ,
U.S. Treasury ,
UK ,
Voluntary Disclosure
In a recently published memorandum, Deputy Attorney General (DAG) Lisa Monaco announced important updates to the U.S. Department of Justice’s (DOJ’s) approach to investigating and prosecuting corporate crimes. In the...more
On July 3, 2020, the U.S. Department of Justice (DOJ) and U.S. Securities and Exchange Commission (SEC) jointly released the second edition of the “Resource Guide to the U.S. Foreign Corrupt Practices Act,” which was...more
7/17/2020
/ Accounting Controls ,
Acquisitions ,
Co-Conspirators ,
Compliance ,
Conspiracies ,
Department of Justice (DOJ) ,
Disgorgement ,
Due Diligence ,
FCPA Resource Guide ,
Foreign Corrupt Practices Act (FCPA) ,
Foreign Official ,
Instrumentality ,
Intent ,
Meals-Gifts-and Entertainment Rules ,
Mergers ,
Publicly-Traded Companies ,
Securities and Exchange Commission (SEC) ,
Third Party Payments ,
Travel
Addressing the Evolving Risks -
Warren Buffett said that “only when the tide goes out do you discover who’s been swimming naked.” Buffett was not talking about compliance programs in a time of crisis, but his wisdom applies...more
5/2/2020
/ Anti-Corruption ,
Anti-Money Laundering ,
BSA/AML ,
Compliance ,
Coronavirus/COVID-19 ,
Corporate Misconduct ,
Cybersecurity ,
Disclosure Requirements ,
Economic Sanctions ,
Enforcement Actions ,
FFIEC ,
Financial Distress ,
Financial Fraud ,
FinCEN ,
Foreign Corrupt Practices Act (FCPA) ,
Market Manipulation ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Public Health Emergency ,
Publicly-Traded Companies ,
Risk Assessment ,
Risk Mitigation ,
Sanction Violations ,
Securities and Exchange Commission (SEC)
While enforcement agencies have yet to indicate that they intend to put their pens down in response to COVID-19, there is anecdotal evidence that some agencies have slowed their investigations as remote working impacts matter...more
3/31/2020
/ Anti-Corruption ,
Anti-Money Laundering ,
CFTC ,
Compliance ,
Coronavirus/COVID-19 ,
Debt Market ,
Disruptive Trading Practices ,
Economic Sanctions ,
Enforcement Actions ,
Equity Markets ,
Financial Conduct Authority (FCA) ,
France ,
Market Abuse ,
Risk Management ,
Social Distancing ,
Tax Evasion ,
UK Bribery Act ,
White Collar Crimes
On December 6, 2019, Telefonaktiebolaget LM Ericsson (Ericsson or the Company), resolved long-running investigations by the U.S. Department of Justice (DOJ) and the U.S. Securities and Exchange Commission (SEC) into the...more
1/3/2020
/ Anti-Bribery ,
Books & Records ,
Bribery ,
Calculation of Penalties ,
Compliance ,
Cooperation Agreement ,
Corporate Investigations ,
Corporate Misconduct ,
Corporate Monitoring ,
Corruption ,
Criminal Conspiracy ,
Criminal Investigations ,
Criminal Prosecution ,
Deferred Prosecution Agreements ,
Department of Justice (DOJ) ,
Disgorgement ,
Enforcement Actions ,
Ericsson ,
Failure to Comply ,
Fines ,
Foreign Corrupt Practices Act (FCPA) ,
Guilty Pleas ,
Illegal Profits ,
Internal Controls ,
Penalties ,
Penalty Reductions ,
Pre-Judgment Interest ,
Public Contracts ,
Regulatory Violations ,
Remediation ,
Securities and Exchange Commission (SEC) ,
Settlement Agreements ,
Subsidiaries ,
Telecommunications ,
Third-Party Relationships ,
White Collar Crimes
This issue of Skadden’s semiannual Cross-Border Investigations Update takes a close look at recent cases, regulatory activity and other key developments, including a review of the first year of GDPR enforcement, analysis of...more
10/3/2019
/ Anti-Money Laundering ,
Appeals ,
Blocking Statutes ,
Bribery ,
CFTC ,
China ,
CLOUD Act ,
Communication Restrictions ,
Compliance ,
Conspiracies ,
Cooperation Agreement ,
Crime (Overseas Production Orders) Act 2019 (the COPO Act) ,
Criminal Prosecution ,
Cross-Border Transactions ,
Cryptocurrency ,
Cybersecurity ,
Deferred Prosecution Agreements ,
Denial of Certiorari ,
Department of Justice (DOJ) ,
Deutsche Bank ,
Disclosure ,
Dodd-Frank ,
Economic Sanctions ,
Enforcement Actions ,
EU ,
EURIBOR ,
Exports ,
Extradition ,
Extraterritoriality Rules ,
Financial Conduct Authority (FCA) ,
Financial Records ,
Foreign Corrupt Practices Act (FCPA) ,
Foreign Exchanges ,
France ,
Fraud ,
General Data Protection Regulation (GDPR) ,
Government Investigations ,
Hackers ,
Hungary ,
Imports ,
India ,
Indictments ,
Information Sharing ,
Iran Sanctions ,
Israel ,
Lithuania ,
Money Laundering ,
Morrison v National Australia Bank ,
Multinationals ,
Office of Foreign Assets Control (OFAC) ,
Opioid ,
Pharmaceutical Industry ,
Popular ,
Rate-Rigging ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Serious Fraud Office (SFO) ,
Spoofing ,
Subpoenas ,
Swiss Supreme Court ,
Switzerland ,
Tax Crimes ,
Tax Evasion ,
Tax Treaty ,
Turkey ,
UK ,
United States ,
Venezuela ,
Wal-Mart
On March 8, 2019, the U.S. Department of Justice announced an important change to its Foreign Corrupt Practices Act (FCPA) Corporate Enforcement Policy concerning one of the conditions — “appropriate retention of business...more
3/22/2019
/ Amended Rules ,
Business Records ,
Commercial Electronic Messages ,
Communication Restrictions ,
Compliance ,
Cooperation ,
Corporate Counsel ,
Corporate Misconduct ,
Department of Justice (DOJ) ,
Discovery ,
Document Retention Policies ,
Electronically Stored Information ,
Employee Training ,
Enforcement Actions ,
Foreign Corrupt Practices Act (FCPA) ,
Government Investigations ,
Mobile Apps ,
Multinationals ,
Record Retention ,
Remediation ,
Snapchat ,
Software ,
WhatsApp ,
White Collar Crimes
On January 29-30, 2019, Skadden and Han Kun Law Offices co-hosted two seminars — first in New York, then in Washington, D.C. — titled “Enforcement Focus on China: What Companies Should Do to Be Prepared.” Topics included the...more
2/11/2019
/ Anti-Corruption ,
China ,
Civil Liability ,
Compliance ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Discovery ,
Enforcement Actions ,
Extradition ,
Federal Rules of Criminal Procedure ,
Foreign Corporations ,
Foreign Corrupt Practices Act (FCPA) ,
Foreign Defendants ,
Foreign Policy ,
International Litigation ,
Multinationals ,
National Security ,
Trump Administration
The ongoing trade tensions between the U.S. and China have caused some U.S. companies to become increasingly concerned that the Chinese authorities may subject their local operations to closer scrutiny, leading these...more
1/23/2019
/ Attorney-Client Privilege ,
China ,
Compliance ,
Criminal Investigations ,
Cross-Border Transactions ,
Department of Justice (DOJ) ,
Foreign Corrupt Practices Act (FCPA) ,
Foreign Jurisdictions ,
Government Investigations ,
Internal Investigations ,
Joint Venture ,
Local Rules ,
Mobile Apps ,
Privacy Laws ,
Remediation ,
Risk Assessment ,
Risk Mitigation
In a time of shifting opinions on the benefits of globalization, China’s “One Belt, One Road” initiative (OBOR) offers an unexpected bright spot for multinational companies able and willing to participate in this...more
9/20/2017
/ Anti-Corruption ,
Anti-Money Laundering ,
Asia Pacific ,
China ,
Compliance ,
Cooperation ,
Cross-Border Transactions ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Foreign Investment ,
Globalization ,
Government Investigations ,
Hong Kong ,
Hong Kong Monetary Authority (HKMA) ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Individual Accountability ,
Infrastructure Financing ,
Market Manipulation ,
Memorandum of Understanding ,
Multi-Jurisdictional Litigation ,
Securities and Exchange Commission (SEC) ,
Self-Reporting ,
Transportation Industry ,
White Collar Crimes ,
Yates Memorandum
On September 20, 2016, Skadden presented a seminar titled “Government Enforcement Investigations – Trends and Perspectives from the UK, US and China” in London. The UK Financial Conduct Authority (FCA) Director of Enforcement...more
10/3/2016
/ Anti-Corruption ,
Anti-Money Laundering ,
Bribery ,
China ,
Compliance ,
Corporate Counsel ,
Corporate Misconduct ,
Corruption ,
Department of Justice (DOJ) ,
Federal Pilot Programs ,
Financial Conduct Authority (FCA) ,
Foreign Corrupt Practices Act (FCPA) ,
Government Investigations ,
Market Abuse ,
Money Laundering ,
Popular ,
Sanctions ,
Self-Reporting ,
Serious Fraud Office (SFO) ,
Whistleblowers ,
Yates Memorandum