News & Analysis as of

Enforcement Actions

Global merger control: Crossing the finish line: The devil’s in the disclosure

by White & Case LLP on

Has the disclosure standard for companies been raised in the EU? In May 2017, the European Commission fined Facebook €110 million for providing incorrect information during the merger control process of its acquisition of...more

BioTech CEO Charged with Securities Fraud, Manipulation

by Dorsey & Whitney LLP on

Announcing a new drug can have a significant impact on the share price for a biotech firm. That is particularly true if the drug can revolutionize treatment....more

DOJ Continues Aggressive Enforcement Action Against Opioid Manufacturers

Recently the U.S. Department of Justice (DOJ) issued a statement that it had intervened in a False Claims Act (FCA) case against Insys Therapeutics, Inc. and consolidated five separate qui tam cases into one case, U.S. ex rel...more

Anti-corruption & international risk developments

by Ropes & Gray LLP on

Alex Rene, co-chair of Ropes & Gray’s anti-corruption / international risk practice and managing partner of the firm’s Washington, D.C. office, discusses recent FCPA enforcement activity as well as international risk...more

China Establishes State Administration for Market Regulation to Integrate Antitrust Enforcement

by Jones Day on

China recently established the State Administration for Market Regulation ("SAMR"), which combines the antitrust enforcement responsibilities of the previous Price Supervision and Antimonopoly Bureau of the National...more

Data Privacy + Cybersecurity Insider - May 2018 #3

by Robinson & Cole LLP on

CYBERSECURITY - Cyber Fraud Cost $1.4 Billion in 201 - The Federal Bureau of Investigation’s Internet Crime Complaint Center (IC3) recently released its yearly internet crime report, which states that over 300,000...more

FINRA And SEC Fine Two Entities For Anti-Money Laundering Compliance Deficiencies And Other Violations

by Shearman & Sterling LLP on

On May 16, 2018, the Financial Industry Regulatory Authority (FINRA) announced a $5.3 million fine on a financial services company (ICBCFS) for alleged systemic anti-money laundering (AML) compliance failures, including an...more

DOJ Confirms Active ‘No-Poaching’ Criminal Investigations in Healthcare and Other Industries

by Morgan Lewis on

A series of recent statements highlight the continuing enforcement by the US Department of Justice to focus on “no-poaching” and wage-fixing agreements with more enforcement actions expected to be announced in the near...more

ICE Worksite Enforcement Increases as Promised During Fiscal Year 2018

by Littler on

U.S. Immigration and Customs Enforcement’s former acting Director, Thomas Homan, indicated last fall that he wanted to quadruple worksite enforcement, and ICE is on track to do so. ICE recently announced it performed 3,510...more

SEC Issues First Ever Enforcement Action For Failure to Disclose a Data Breach, Obtaining $35 Million Penalty

by Holland & Hart LLP on

The U.S. Securities and Exchange Commission announced on April 24, 2018 that Yahoo! (now known as Altaba, Inc.) agreed to pay a $35 million civil penalty to resolve claims that it failed to appropriately and timely disclose...more

President Snaps Iran Sanctions Back

by Bass, Berry & Sims PLC on

• Previously permissible activities must be wound down in 90 or 180 days • Non-U.S. companies at particular risk of enforcement action • Only limited guidance issued so far, unclear what authority U.S. companies...more

Wells Fargo Consent Orders Highlight Importance of Acting on Information From Third-Party Vendors

by Pepper Hamilton LLP on

The OCC and CFPB consent orders issued against Wells Fargo on April 20 cited deficiencies in third-party oversight practices. The orders are the latest additions to an ever-expanding body of agency enforcement actions...more

Wastewater Enforcement: Arkansas Department of Environmental Quality and Turrell, Arkansas Enter into Consent Administrative Order

The Arkansas Department of Environmental Quality (“ADEQ”) and the City of Turrell, Arkansas, (“Turrell”) entered into an April 10th Consent Administrative Order (“CAO”) addressing alleged violations of a Clean Water Act...more

SEC Enforcement Stats: Less Issuer Cases; More Individuals Charged

by Dorsey & Whitney LLP on

Cornerstone Research and the Pollack Center for Law and Business at NYU published a report on SEC Enforcement activity for the first have of fiscal year 2018, focused largely on actions involving public companies and their...more

Bridging the Weeks - May 2018 #3

The Securities and Exchange Commission and the Financial Industry Regulatory Authority collectively fined a broker-dealer over US $6.1 million for not having an anti-money laundering program reasonably designed to detect and...more

Cryptocurrency Debit Card Startup Founders Indicted

The U.S. Attorney’s Office in the Southern District of New York has announced that a federal grand jury has returned an indictment against three Florida men who co-founded cryptocurrency company Centra Tech, Inc. The...more

SEC Enforcement Trends: Highlights from Securities Enforcement Forum West 2018

by Fenwick & West LLP on

The Securities Enforcement Forum West 2018 brought together current and former senior U.S. Securities and Exchange Commission and U.S. Department of Justice officials, securities enforcement and white-collar attorneys,...more

SEC Announces Yahoo Will Pay $35 Million for Failure to Disclose Data Security Incident

by Jones Day on

The Situation: The SEC accused Altaba Inc., then known as Yahoo! Inc., of misleading investors by failing to disclose a major data breach orchestrated by Russian hackers. The Result: Altaba has agreed to pay $35 million to...more

DOJ Enters Into Largest-Ever Civil Settlement with Hospital for Drug Diversion

On May 16, 2018, the U.S. Attorney’s Office for the Southern District of Georgia announced that it had entered into the “largest hospital drug diversion civil penalty settlement in U.S. History” in the amount of $4.1 million...more

This Week In Securities Litigation

by Dorsey & Whitney LLP on

The SEC Office of Investor Education created a very informative site for investors to learn about the dangers of crypto currency offerings. The tool is a site offering HoweyCoin. It contains descriptions of the coins, an ICO...more

Recent Fraud Settlements Illustrate Current Compliance Risk Areas

by Ruder Ware on

One of the reasons compliance officers and health care attorneys read fraud settlements is to identify issues the government is focused on. The cases the government decides to pursue are very indicative of the areas of fraud...more

DOJ Intervenes in False Claims Act Case Against Insys Therapeutics

The Department of Justice (DOJ), recently intervened in a civil False Claims Act (FCA) case filed against Insys Therapeutics, Inc. (Insys) in the Central District of California that alleges FCA violations arising from the...more

Farewell to Tom Wolfe and Welcome to Anti-Piling On

by Thomas Fox on

In the Foreign Corrupt Practices Act (FCPA) world, the concept of ‘one-pie’ was explained back in 2016 by Kara Brockmeyer, (the then) Chief of the FCPA Unit at the Securities and Exchange Commission (SEC), and Daniel Kahn,...more

Alberta Securities Commission Allows No-Contest Settlement Agreements

by Bennett Jones LLP on

The Alberta Securities Commission (ASC), the regulatory agency responsible for administering provincial securities laws in Alberta, announced last week that it would be following the lead of its Ontario and American...more

The SEC Has an Opportunity You Won’t Want to Miss - HoweyCoin; The USOA Files Another Crypto Offering Case

by Dorsey & Whitney LLP on

SEC Office of Investor Education - The first part of the headline above was written by the U.S. Securities and Exchange Commission’s Office of Investor Education (slightly modified). The second part of the headline shows...more

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Cybersecurity

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