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National Defense Authorization Act › White Collar Crimes

The National Defense Authorization Act is a United States federal statute enacted each year to specify the budget and expenditures of the Department of Defense. The NDAA identifies which agencies are responsible... more +
The National Defense Authorization Act is a United States federal statute enacted each year to specify the budget and expenditures of the Department of Defense. The NDAA identifies which agencies are responsible for national defense, provides funding for those agencies and includes instructions on proper use of the funds.  less -
Benesch

FEPA: The latest hammer in the DOJ’s anti-bribery toolbelt

Benesch on

On December 22, 2023, President Biden completed the proverbial “sandwich” against international bribery schemes by signing the groundbreaking Foreign Extortion Prevention Act (“FEPA”) into law....more

Goodwin

Foreign Extortion Prevention Act (FEPA) Expands US Authority to Reach Foreign Bribery

Goodwin on

On December 22, 2023, President Biden signed the Foreign Extortion Prevention Act (FEPA), a new anti-bribery statute long considered as a likely accompaniment to the Foreign Corrupt Practices Act of 1977 (FCPA). The...more

Morrison & Foerster LLP

Top 10 International Anti-Corruption Developments for December 2023

Morrison & Foerster LLP on

Designed for busy in-house counsel, compliance professionals, and anti-corruption lawyers, this newsletter summarizes some of the most important international anti-corruption law and enforcement developments from the past...more

Skadden, Arps, Slate, Meagher & Flom LLP

Foreign Extortion Prevention Act Criminalizes Demand-Side Bribery

Skadden, Arps, Slate, Meagher & Flom LLP on

On December 22, 2023, President Biden signed into law the Foreign Extortion Prevention Act (FEPA) as part of the fiscal year 2024 National Defense Authorization Act. FEPA criminalizes demand-side bribery by foreign officials...more

The Volkov Law Group

Congress Passes Foreign Extortion Prevention Act in Effort to Address “Demand-Side” of Foreign Bribery Equation

The Volkov Law Group on

On December 14, 2023, Congress passed the Foreign Extortion Prevention Act (“FEPA”) in an effort to address certain deficiencies inherent in the current iteration of the Foreign Corrupt Practices Act (“FCPA”), as part of the...more

Womble Bond Dickinson

The Foreign Extortion Prevention Act: Bribe-Soliciting Foreign Officials May Soon Be Subject To Criminal Penalties

Womble Bond Dickinson on

On December 14, 2023, the United States House and Senate passed the National Defense Authorization Act (NDAA), which included the Foreign Extortion Prevention Act (FEPA). This bipartisan legislation, which Senator Sheldon...more

WilmerHale

Congress Enacts the Foreign Extortion Prevention Act Targeting Foreign Officials' Conduct

WilmerHale on

On December 14, 2023, the U.S. Congress (Congress) passed the Foreign Extortion Prevention Act (FEPA), as a part of the Fiscal Year 2024 National Defense Authorization Act. The FEPA, which received bipartisan support, makes...more

Thomas Fox - Compliance Evangelist

Congress Fills a Corruption Hole: The Foreign Extortion Prevention Act (FEPA)

Thomas Fox - Compliance Evangelist on

The compliance community has long recognized the gaping hole in the Foreign Corrupt Practices Act (FCPA). As a supply side law, it criminalizes the payment of bribes, not the demand to pay a bribe or extortion. The gap was...more

Skadden, Arps, Slate, Meagher & Flom LLP

In the First Use of Its Section 9714 Powers, the U.S. Treasury Designated Bitzlato as a Russian-Linked Primary Money Laundering...

Skadden, Arps, Slate, Meagher & Flom LLP on

On January 17, 2023, U.S. law enforcement authorities in Miami arrested Anatoly Legkodymov, a Russian national and the founder and majority owner of Hong Kong-based virtual currency exchange Bitzlato Ltd., on charges of money...more

Skadden, Arps, Slate, Meagher & Flom LLP

DOJ Steps Up Corporate Criminal Enforcement, Looks More Broadly at Past Misconduct

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Takeaways - The DOJ will take a more proactive approach to FCPA investigations. Companies seeking cooperation credit must disclose information about all culpable individuals, not just those “substantially involved” in...more

Womble Bond Dickinson

Administration's Anti-Corruption Efforts Likely to Yield Greater FCPA Enforcement in Latin America and Beyond

Womble Bond Dickinson on

On June 3 of this year, the Biden Administration made plain its commitment to fighting corruption around the world, releasing a document identifying the fight against corruption “as an economic and national security priority”...more

Foley Hoag LLP - White Collar Law &...

Anti-Corruption 2021

Foley Hoag LLP - White Collar Law &... on

This is the third in our First 100 Days series examining important trends in white collar law and investigations in the early days of the Biden administration. Our previous entry discussed sanctions and export control trends....more

Foodman CPAs & Advisors

¿Cómo Afectará a su Institución Financiera la Capacitación de Examinadores requerida bajo la Ley ALD del 2020 (El Acto)?

Foodman CPAs & Advisors on

La sección 6307 del Acto (“AML ACT of 2020”) requiere la capacitación anual para Examinadores sobre la lucha contra el lavado de dinero y el financiamiento del terrorismo. La capacitación debe realizarse en consulta con...more

K2 Integrity

New U.S. Law’s Impacts on Non-U.S. Financial Institutions

K2 Integrity on

The U.S. Anti-Money Laundering Act of 2020 (AML Act) became law on January 1 when the United States Congress passed the broader National Defense Authorization Act for 2021 over a presidential veto. Although it is a U.S. law,...more

Arnall Golden Gregory LLP

“Modernized” and “Improved” Systems and Processes: How the Anti-Money Laundering Act of 2020 Changes the Landscape for Government...

Arnall Golden Gregory LLP on

With bipartisan support and overriding (for the first and only time during the Trump presidency) a presidential veto, Congress passed the National Defense Authorization Act (“NDAA”) on January 1, 2021.1  As part of the NDAA,...more

Skadden, Arps, Slate, Meagher & Flom LLP

US Enacts Historic Legislation To Strengthen Anti-Money Laundering and Counterterrorist Financing Legal Framework

Skadden, Arps, Slate, Meagher & Flom LLP on

On January 1, 2021, the United States Congress overrode the president’s veto to enact the 2021 National Defense Authorization Act (the NDAA), which, aside from allocating the annual defense budget, includes the Anti-Money...more

Burr & Forman

Congressional Override Grants SEC 10-Year Statutory Disgorgement Remedy

Burr & Forman on

On the new year’s first day, Congress passed the NDAA over President Trump’s veto and gave the SEC more clear – and longer – disgorgement authority for enforcement actions in the courts....more

Cadwalader, Wickersham & Taft LLP

A New Year’s Booster Shot: Congress Grants the SEC a Statutory Disgorgement Remedy and Extended Statute of Limitations

Cadwalader, Wickersham & Taft LLP on

Congress opened 2021 by overturning one of President Trump’s vetoes for the first time. By large bipartisan majorities, the House and Senate overturned a presidential veto and enacted the 2021 National Defense Authorization...more

Morgan Lewis

Congress Creates Enhanced Whistleblower Program for AML Violations

Morgan Lewis on

As part of a modernization of the nation’s anti-money laundering regime, the Anti-Money Laundering Act of 2020 creates enhanced whistleblower rewards that are likely to lead to increased enforcement action....more

Robins Kaplan LLP

Financial Daily Dose 2.20.2020 | Top Story: Fed Minutes Show Central Bank Happy With Economy, Worried About Coronavirus

Robins Kaplan LLP on

Newly released minutes from the Fed’s January meeting show central bankers preoccupied with global risks, including the still-growing economic impact of the coronavirus, while still taking a wait-and-see approach to any...more

Holland & Knight LLP

2017, We Hardly Knew You: A Look Ahead to 2018

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Taking over as editors of Holland & Knight’s Government Contracts Blog has been a labor, but it has been a labor of love. Like the rest of the Government Contracts Team, we are passionate about staying on top of the latest...more

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