News & Analysis as of

Due Diligence

Customer Due Diligence and Beneficial Ownership: Updates to FFIEC Examination Manual and FinCEN Administrative Ruling

by Morrison & Foerster LLP on

May 11, 2018 was the applicability date for FinCEN’s new “Customer Due Diligence Requirements for Financial Institutions” (the “CDD Rule”). FinCEN noted the occasion by issuing a press release to remind covered financial...more

Construction contracts: who bears the risk of obtaining statutory approvals?

by White & Case LLP on

In Clin v Walter Lilly & Co Ltd [2018] EWCA Civ 490, the English Court of Appeal held that, in the absence of express provisions, a term should be implied into an amended JCT contract to require the Employer to use "all due...more

Financial Services Weekly News - May 2018 #2

by Goodwin on

Editor's Note - Regulatory Relief, One Way or Another. It seems that banks may finally be the beneficiaries of meaningful regulatory relief and such relief is coming from several different sources. Yesterday, May 8, 2018,...more

Texas Court of Appeals Confirms That, in Order to “Bring Suit” Within the Statute of Limitations Period, a Plaintiff Must Exercise...

by White and Williams LLP on

In Molina v. Gears, 2018 Tex. App. LEXIS 1978 (March 20, 2018), the Texas Court of Appeals addressed the issue of whether a plaintiff who timely-filed a complaint exercised due diligence with respect to serving the complaint....more

10 Hallmarks of an Effective Compliance Program - #7 Third Parties

by Thomas Fox on

Episode 7 of a ten-part series for compliance professionals. In this new series of audio white papers, Thomas Fox looks at the 10 Hallmarks of an Effective Compliance Program. Hallmark # 7: Third Parties....more

Panasonic FCPA Enforcement Action: Part IV – Lessons Learned

by Thomas Fox on

We continue our exploration of the Foreign Corrupt Practices Act (FCPA) enforcement action involving Panasonic Avionics Corporation (PAC) and its parent Panasonic Corporation (Panasonic). Today, I want to conclude with some...more

Deadline Approaches for Implementation of FinCEN Customer Due Diligence Requirements

by Kelley Drye & Warren LLP on

On May 11, 2016, the Financial Crimes Enforcement Network (“FinCEN”) adopted final rules which codify customer due diligence requirements for financial institutions (the “CDD Rule”)[1] under the Bank Secrecy Act (the “BSA”). ...more

Special Report - UK Criminal Finances Act 2017 Are You Compliant?

by McDermott Will & Emery on

This Special Report provides important information regarding two new corporate criminal offences under the UK Criminal Finances Act 2017 (Act) that came into effect on 30 September 2017. To comply with the Act and to...more

Dun & Bradstreet Agrees to Pay $9 Million to SEC to Settle FCPA Charges, but DOJ Declines to Prosecute under New Policy

by Ropes & Gray LLP on

On April 23, 2018, The Dun & Bradstreet Corporation (“Dun & Bradstreet”) reached a $9 million resolution with the U.S. Securities and Exchange Commission (“SEC”) and the U.S. Department of Justice (“DOJ”) over allegations...more

McDermott International Legal Highlights April 2018 - Japanese Version

by McDermott Will & Emery on

Nationalism and Cross-Border M&A: Navigating Populist Politics in Deal Making - More than half of the G20 countries voted-in campaigns that focused on harming foreign, outside interests as a means to strengthen domestic...more

McDermott International Legal Highlights April 2018

by McDermott Will & Emery on

Nationalism and Cross-Border M&A: Navigating Populist Politics in Deal Making - More than half of the G20 countries voted-in campaigns that focused on harming foreign, outside interests as a means to strengthen domestic...more

FTC Warns Parties on Information Exchanges During M&A Due Diligence

by Jones Day on

The Situation: The Federal Trade Commission ("FTC") recently published a blog post reminding merging parties to avoid creating antitrust liability through the exchange of competitively sensitive information during merger...more

Carefully Review Your Insurance Policies To Confirm “Additional Insured” Status

by King & Spalding on

The recent decision of the Court of Appeals of New York in Gilbane Building Co./TDX Constr. Corp. v. St. Paul Fire & Marine Ins. Co., -- N.E.3d --, 2018 WL 1473553 (N.Y. March 27, 2018), underscores that construction project...more

Environmental Assessments: Blog Commonground Discusses Old Soap Factories

The Environmental Due Diligence section of the blog Commonground addresses a variety of issues associated with environmental and/or due diligence assessments of improved and unimproved real properties. A March 9th post...more

FTC Offers Advice on Avoiding Violations in Pre-Merger Negotiations and Due Diligence

by K&L Gates LLP on

The Federal Trade Commission (“FTC”) recently published advice to businesses on avoiding violating the antitrust laws during merger negotiations and due diligence. Businesses engaging in mergers, acquisitions, and joint...more

Bank regulators issue guidance on cyber insurance

by Thompson Coburn LLP on

Federal bank regulators issued a statement on April 10 alerting banks of risk management issues regarding cyber insurance coverage. The statement was issued jointly by the Federal Reserve, FDIC, OCC, NCUA and CFPB through...more

FinCen Customer Due Diligence Rule Compliance Deadline Approaches

On May 11, 2016, the Department of Treasury, Financial Crimes Enforcement Network (FinCEN) published its final rule (81 FR 29398) on required “know your customer” due diligence procedures (Rule). The Rule established a...more

Podcast - Risk Management: Troubleshooting & Problem Solving

by Ropes & Gray LLP on

[co-speaker: Hui Chen, Ethics and Compliance Consultant] Implementing effective compliance programs is challenging, especially where third-party risk management is involved. In this podcast, Ropes & Gray litigation &...more

PE Opportunity in Litigation Financing

by Mintz Levin on

Litigation financing has quickly grown from a fledging concept into a robust industry. The concept is simple: in exchange for a share of any proceeds, a financing firm agrees to pay all or a portion of the plaintiff’s legal...more

DOJ Announces First Settlement Under Trump Administration Regarding “No-Poach” Agreement

On April 3, 2018, the Antitrust Division of the U.S Department of Justice (“DOJ”) announced that it had reached a settlement in a matter involving a “no-poaching” agreement between employers—the first such enforcement action...more

Anti-Corruption Regulation Survey of 41 Countries 2017–2018

by Jones Day on

Welcome to the 2017-2018 edition of the Jones Day Anti-Corruption Regulation Survey. In 2017 and 2018 to date, there has continued to be an increasing awareness among multinational companies of the significance of...more

How sanctions-proof is your Source of Wealth due diligence?

U.S. sanctions against Russian oligarchs and their associated companies demonstrate the value of Source of Wealth due diligence assessments that go beyond simply identifying the assets owned....more

How to Evaluate Cyber Insurance Options?

by Vedder Price on

On April 10, 2018, the Federal Financial Institutions Examination Council (the “FFIEC”), an interagency body composed of the Board of Governors of the Federal Reserve System, Consumer Financial Protection Bureau, Federal...more

FTC Issues Updated Guidance for Avoiding Antitrust Liability for “Gun Jumping” During M&A Negotiation and Due Diligence

by White and Williams LLP on

On March 20, 2018, the U.S. Federal Trade Commission (FTC) issued updated guidance regarding compliance with antitrust laws for companies considering acquisitions, mergers, or joint ventures. While the FTC recognizes that...more

Due Diligence When Selecting A Vendor

by Farrell Fritz, P.C. on

When faced with the task of collecting, processing, reviewing and producing digital data, law firms (and clients) often retain outside vendors to assist. Depending on the vendor, and the circumstances of the retention, there...more

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