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FCPA Compliance Report-Episode 366 Jonathan Marks on performing and using a root cause analysis

by Thomas Fox on

In this podcast, I visit Jonathan Marks, a partner at Marcum LLP on how to perform a root cause analysis and its uses in the remediation phase of a best practices compliance program. One new and different item was laid out in...more

Up in Smoke: Saying Goodbye to the Cole Memo

In what could hardly be characterized as a surprise, on January 4, U.S. Attorney General Jeff Sessions issued a memorandum (the “Sessions Memo”) that rescinds the seminal cannabis “Cole Memo” of August 29, 2013 and other...more

Texas Bank Faces $2M Fine From FinCEN

The Financial Crimes Enforcement Network (FinCEN) hit a Texas bank with a $2 million Assessment of Civil Money Penalty for Bank Secrecy Act and anti-money laundering (BSA/AML) violations of Section 312 of the USA PATRIOT Act...more

A Primer for In-House Counsel: Corporate and Financial Crimes, Part 1: : Criminal Law 101

What Statutes Set Out Criminal Offences in Canada? Canada’s criminal law is set out in the Criminal Code. The Criminal Code is made by Parliament and applies equally in every province and territory. The Criminal Code...more

Cross-Border Investigations Update - November 2017

This issue of Skadden’s semiannual Cross-Border Investigations Update takes a close look at recent cases, regulatory activity and other key developments, including new U.K. reporting obligations for sanctions violations,...more

'The Chickenshit Club' - Book Review and Author Interview

by Thomas Fox on

'The Chickenshit Club' is the most important book that every Chief Compliance Office, General Counsel, and compliance practitioner needs to read. Here's a review and interview with its author....more

SEC Enforcement: Another Look At Last Fiscal Year

by Dorsey & Whitney LLP on

The SEC published its statistics for the last fiscal year in a glossy report centered on a discussion of the new retail/cyber focus of the Enforcement Division. Statistics are not the sole measure of success the agency...more

This Week In Securities Litigation

by Dorsey & Whitney LLP on

The DOJ unsealed criminal charges against five individuals involved in the Rolls-Royce FCPA action previously brought by the DOJ, SFO and Brazilian authorities. The charges were filed in the Southern District of Ohio. Each...more

Episode 10 -- How to Conduct a Risk and Compliance Program Assessment

by Michael Volkov on

An effective ethics and compliance program requires a careful assessment of risks and existing controls. In order to design and implement an effective program, a chief compliance officer has to identify and prioritize...more

This Week In Securities Litigation

by Dorsey & Whitney LLP on

The Commission’s focus on retail investors is reflected in cases filed this week. One involved the manipulation of securities prices by gaining unauthorized access to retail accounts and then trading securities....more

Dorsey Anti-Corruption Digest - November 2017

by Dorsey & Whitney LLP on

Massachusetts-based Alere Inc. will pay $13 million to settle charges alleging that the company bribed foreign officials and engaged in an accounting fraud, according to a Securities and Exchange Commission (SEC) Cease and...more

UK Tax Round Up - October 2017

by Proskauer Rose LLP on

UK Tax News and Developments - Government White Paper on Customs Bill - On 9 October, the Government published a White Paper setting out its approach to the introduction of a new customs and VAT regime after the UK...more

France Establishes Register of Beneficial Owners of Corporations and Other Entities

by Jones Day on

In an effort to prevent money laundering and fight the financing of terrorist activities, France has adopted requirements for the identification and registration of beneficial owners of corporations and other entities...more

Lessons From the Market Place: The Importance of Compliance

by Dorsey & Whitney LLP on

An effective program is a key corporate function of increasing importance. It can be a competitive advantage, creating a tone of excellence which permeates the firm’s culture, products, services and customer relations....more

Government Enforcement Investigations – What You Need to Know in 2018

On October 4, 2017, Skadden presented the seminar “Government Enforcement Investigations – What You Need to Know in 2018.” Skadden partners Ryan Junck and Elizabeth Robertson, both based in London, moderated the panel...more

HSBC Trader Found Guilty in Front Running Scheme

by Dorsey & Whitney LLP on

The former head of global foreign exchange cash trading for HSBC Bank plc was convicted of “front running” in the foreign exchange markets by a jury after a four week trial. A key part of the evidence heard by the jury were...more

Day 17 of One Month to More Effective Compliance for Business Ventures- Corporate Controller and Business Ventures

by Thomas Fox on

One area not often considered by the CCO as a key part of any compliance regime is the corporate Controller. The Controller generally has the responsibility to accurately record and report the financial transactions of the...more

New obligation to declare beneficial owner(s)

by White & Case LLP on

The Ordinance of 1 December 2016 (which implemented the European Anti-Money Laundering Directive of 20 May 2015) and the so-called "Sapin II Law" of 9 December 2016 introduced new obligations for companies. Companies must now...more

Corporate Investigations and White Collar Defense - October 2017

Supreme Court to Hear Important Whistleblower Case - Why it matters: Must an employee “whistleblower” specifically provide information about alleged corporate misconduct to the Securities and Exchange Commission (SEC) in...more

Criminal Finances Act 2017 – New Criminal Offence Requires Preventive Procedures

by McDermott Will & Emery on

The UK Criminal Finances Act 2017 recently introduced a new corporate offence of failure to prevent the facilitation of tax evasion. Under the new law, a corporate body or partnership may be criminally liable if it fails...more

What’s the current landscape for CFTC cryptocurrency regulation?

by Thompson Coburn LLP on

As cryptocurrencies such as Bitcoin enter the mainstream, entrepreneurs are exploring business models that may depend on compliance with regulatory constraints. This short article summarizes the cryptocurrency regulatory...more

Financial crime and investigations update for UK corporates

by Allen & Overy LLP on

The law and practice relating to financial crime and investigations is evolving fast. In the past 18 months we have seen two new Acts aimed at combatting financial crime (including the creation of two new corporate criminal...more

New German Money Laundering Act Introduces Beneficial Ownership Register (Transparenzregister)

by Jones Day on

The Background: As part of the implementation of the European Anti-Money Laundering Directive (EU Directive 2015/849), a new German Money Laundering Act has come into effect....more

Former Broker Sentenced in Pay-to-Play Scheme

by Dorsey & Whitney LLP on

The Commission and the Manhattan U.S. Attorney’s Office have brought a number of pay-to-play cases involving pension funds. In one involving the third largest public pension fund in the country uncovered by the SEC, Deborah...more

CFTC’s Enforcement Division Announces New Focus on Self-Reporting

Upon discovering a potential violation, a company is often faced with the dilemma of whether to self-report the incident to its regulator or attempt to deal with the incident through exclusively internal means. On September...more

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