The U.S. Court of Appeals for the Tenth Circuit issued its decision in Matney v. Barrick Gold of North America, et al. on Sept. 6, 2023, finding that participants in an employer-sponsored defined contribution retirement plan...more
Takeaways: ..In recent remarks, top DOJ officials stated that DOJ will “surge resources” and “redouble efforts” for corporate enforcement. ..Areas of particular concern include Foreign Corrupt Practices Act,...more
Investigators with the U.S. Department of Justice reportedly are investigating energy pricing benchmarks published by Platts, targeting suspected manipulation of deal prices provided by individual traders. According to...more
On August 29, 2019, the United States Court of Appeals for the Second Circuit affirmed the dismissal of an action under the Commodities Exchange Act (“CEA”) alleging that defendants manipulated the foreign benchmark for the...more
Update: On July 29, 2021, the Federal Court of Appeal set aside the Federal Court’s decision and remitted the matter to the Patented Medicine Prices Review Board for redetermination: Alexion Pharmaceuticals Inc. v Canada...more
The Department of Justice (DOJ) Antitrust Division announced three new investigations and several developments in its other investigations, including new investigations in the commercial flooring industry, online auctions for...more
The Fed made news when it backed off of its plan to keep regular rate hikes going in 2019, and the decision has done far more than just make Wall Street happy for a day. Here’s a look at how the financial world has reacted...more
The U.K.'s Serious Fraud Office has announced that two former bankers that had been convicted of conspiracy to defraud for manipulating the Euro Interbank Offered Rate (EURIBOR) have been sentenced to a combined total of just...more
The US Commodity Futures Trading Commission has issued an order settling charges against the US investment arm of an international bank for attempted manipulation of the US dollar International Swaps and Derivatives...more
2017 will see the start of the process of decommissioning the iconic Brent oil production platforms in the UK sector of the North Sea. The first of the four Brent platforms, Brent Bravo, first started producing oil from the...more
The Bank of England published a consultation paper on the Bank’s proposals to reform the Sterling Overnight Index Average Interest Rate Benchmark, known as SONIA. The Bank of England, which took over as administrator of SONIA...more
CFTC continues to bring high-profile, large-penalty enforcement cases; begins bringing cases to enforce Dodd-Frank Act implementing regulations; and embarks on post-Dodd-Frank Act regulatory initiatives. ...more
On Monday, Aug. 3, Tom Hayes was convicted and sentenced to 14 years of imprisonment for his part in the manipulation of the London Interbank Offered Rate (Libor). The result has attracted attention because it was the first...more
Concluding a year-long review, UK regulators issued the final report of the Fair and Effective Markets Review Committee last week, making a number of recommendations intended to restore confidence in the trading markets for...more
The two major legal issues currently facing the metals industry are benchmark pricing and metals warehousing. We have spoken regularly at industry events and to our clients about both of these topics and a number of you have...more