News & Analysis as of

Remediation

The Federal Reserve Imposes Limits on a National Bank’s Growth

by Weiner Brodsky Kider PC on

On February 2, 2018, the Federal Reserve (the “Fed”) announced a consent order with one of the country’s largest banks, that orders the bank to halt growth until it improves its corporate governance and risk management....more

The Long Road Back to Redemption: Wells Fargo’s Path to Remediation (Part II of II)

by Michael Volkov on

Wells Fargo’s ability to grow its business is on hold for a year while it designs and implements a remediation program to address deficiencies in its board governance, risk management and compliance program. ...more

Federal Reserve Hits Wells Fargo with Unprecedented Enforcement Action (Part I of II)

by Michael Volkov on

In an extraordinary action, with significant ramifications for the financial industry, the Federal Reserve recently announced a series of enforcement actions against Wells Fargo....more

Product Liability Update: January 2018

by Foley Hoag LLP on

First Circuit Holds Foreseeability of Health Risk Is Standard For Failure To Warn Even Though Claim Is For Property Remediation, And Bulk-Selling Chemical Manufacturer Had Post-Sale Duty To Warn Only Direct Customers Even If...more

Presumption of Declination with Voluntary Disclosure, Cooperation, and Remediation of FCPA Violations

Deputy Attorney General Rod J. Rosenstein recently announced a revision to the U.S. Department of Justice (“DOJ”) policy on corporate enforcement of the Foreign Corrupt Practices Act (“FCPA”). The revision codifies a pilot...more

Using a Root Cause Analysis

by Thomas Fox on

In my last post, I began considering the Prong of the Evaluation of Corporate Compliance Programs (Evaluation) which was not present in the Ten Hallmarks of an Effective Compliance Program, the root cause analysis. ...more

2017 FCPA Year in Review (Part I of II)

by Michael Volkov on

With the close of 2017, FCPA enforcement continues as a major priority for the US Department of Justice. Notwithstanding fears and concerns that the new administration would turn its back on FCPA enforcement, the Justice...more

Academic Institutions: When Renovating, Where Do Your PCBs Go? EPA Region 1 Enforces Against University for Improper PCB Disposal

by Beveridge & Diamond PC on

The University of Connecticut will pay $28,125 as part of a settlement with U.S. EPA resolving allegations that UConn improperly disposed of PCB-contaminated soils during a renovation project in 2013. Academic institutions...more

Westport’s Novel Claims for PCB Remediation Costs End at First Circuit

by Beveridge & Diamond PC on

The Town of Westport cannot recover clean-up costs from manufacturers of PCBs used in caulk at the town’s middle school under a variety of common law and statutory theories, according to a ruling by the First Circuit in Town...more

FCPA in the Trump DOJ: Continuing Down the Same Path, with a Little More Heft

by Farella Braun + Martel LLP on

Next week marks the 40th anniversary of the Foreign Corrupt Practices Act – it became effective December 19, 1977. Deputy Attorney General Rod Rosenstein marked the occasion this month by providing an update on the FCPA Pilot...more

DOJ Issues New Policy Encouraging Self-Reporting FCPA Violations

by Bracewell LLP on

On November 29, 2017 the Deputy Attorney General of the U.S. Department of Justice (DOJ), Rod J. Rosenstein, announced a new FCPA enforcement policy that seeks to incentivize voluntary self-reporting by providing companies...more

France Announces Its First Deferred Prosecution Agreement

In a move that could signal a new phase of government enforcement in France, on November 27, 2017, French authorities published a Convention judiciaire d’intérêt public (CJIP) with HSBC Private Bank Suisse SA (HSBC PB), the...more

DOJ’s FCPA Corporate Enforcement Policy Creates Greater Certainty for Companies

The Foreign Corrupt Practices Act of 1977 (FCPA) makes it unlawful for certain classes of persons and entities to make payments to foreign government officials to assist in obtaining or retaining business. On November 29,...more

What to Do About #MeToo: Anti-Harassment Guidance for Employers

by Holland & Knight LLP on

• Now more than ever, employers must proactively assess their policies and training systems to lay the groundwork for appropriate organizational responses to sexual harassment allegations or complaints that arise among...more

DOJ's New FCPA Enforcement Policy Continues its "Carrot-and-Stick" Approach

by Jones Day on

The Situation: Companies that learn of Foreign Corrupt Practices Act ("FCPA") violations by employees or agents are faced with significant uncertainty as to whether the benefits and risks of self-disclosing the conduct to the...more

DOJ Announces New FCPA Policy to Further Incentivize Corporate Voluntary Self-Disclosure and Cooperation

by Foley Hoag LLP on

The U.S. Foreign Corrupt Practices Act turned forty this year. The Department of Justice is marking that anniversary by announcing a new Corporate Enforcement Policy specific to FCPA matters. The new Policy makes explicit...more

DOJ Deputy Attorney General Rod Rosenstein Announces FCPA Corporate Enforcement Policy

• The voluntary disclosure of a Foreign Corrupt Practices Act (FCPA) violation, “full cooperation” in an ensuing investigation, and timely and appropriate remediation, will create a presumption that the disclosing company...more

DOJ Issues New FCPA Policy Offering Incentives to Encourage Disclosure of Foreign Bribery and Corruption Misconduct

by Foley & Lardner LLP on

On November 29, 2017, Deputy Attorney General Rod Rosenstein announced that the U.S. Department of Justice (DOJ) was issuing a new enforcement policy covering its enforcement of the Foreign Corrupt Practices Act (FCPA). The...more

Connecticut Launches New and Incentivized Brownfields Program

by Beveridge & Diamond PC on

On October 31, Governor Dannel Malloy signed into law Connecticut’s bipartisan budget bill, which provides for a tax incentive plan to support brownfields remediation and reuse. The new plan, called the 7/7 Brownfields...more

Ohio Natural Resources Damages Claim Dismissed with Prejudice for Failure to Properly Serve Defendant

by Beveridge & Diamond PC on

Demonstrating the importance of timely service of process in complex environmental cases, a federal court in Ohio dismissed CERCLA natural resource damages claims and related state statutory actions for the state’s failure to...more

Property Ownership and Water Supply Sources Matter in PFOA Contamination Lawsuits

by Beveridge & Diamond PC on

Illustrating some limitations on common law claims for groundwater contamination, a federal court in New York partially granted and partially denied a motion to dismiss in a cluster of sixteen lawsuits alleging...more

CT Creates New Brownfields Program, Adopts Brownfields Tax Credit

by Holland & Knight LLP on

Buried in an 881-page budget bill passed Thursday by the Connecticut General Assembly was a new program to support remediation and reuse of brownfields – properties long contaminated and underutilized – as well as new job...more

Textile factory safety claims proceed to arbitration under the Bangladesh Accord

by Hogan Lovells on

In a landmark ruling by an arbitration tribunal last month, claims against two global fashion brands under the 2013 Accord on Fire and Building Safety in Bangladesh (the “Bangladesh Accord“) were declared admissible and...more

Tenth Circuit Upholds Owner-Property Exclusion In Connection With Cleanup Efforts

On August 25, the U.S. Court of Appeals for the Tenth Circuit, in an unpublished opinion, affirmed the lower court’s ruling that the cost to remediate environmental contamination at a ski resort was subject to a contractual...more

Court Compels Discovery, Awards Sanctions In Dispute Over Whether Reinsurance Arbitration Clause Applies

by Carlton Fields on

In 2011, Top’s Personnel entered into a reinsurance agreement with Applied Underwriters Captive Risk Assurance Company (“AUCRA”), and several years later executed a promissory note (“the Note”) in favor of a related entity,...more

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