News & Analysis as of September 18, 2024

Department of Justice (DOJ)

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The Securities Exchance Act is a United States federal statute enacted in 1934 to govern the secondary securities trading market. In addition, the Securities Exchange Act established the Securities and Exchange... more +

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Top 10 International Anti-Corruption Developments for November 2023

Morrison & Foerster LLP on 12/19/2023

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

Do Not Delete: SEC and DOJ Send Serious Messages on Preserving Ephemeral Communications

Holland & Knight LLP on 5/26/2023

Ages ago, hieroglyphics were painstakingly etched into stone. They communicated various types of messages, from fables to business transactions, and lasted thousands of years. Today, we still communicate the same type of...more

New DOJ Policies Tie Employee Compensation to Compliance

BakerHostetler on 3/30/2023

On March 15, 2023, the U.S. Department of Justice (DOJ or the Department) launched a three-year Compensation Incentives and Clawbacks Pilot Program (Clawback Program) intended to incentivize companies to create more robust...more

On Heels of Recent Rule Amendments, DOJ and SEC Target Purported 10b5-1 Trading Plan Abuse

Holland & Knight LLP on 3/14/2023

A few months after the U.S. Securities and Exchange Commission (SEC) finalized amendments to address perceived abuses of corporate insider trading plans (known as "10b5-1 trading plans"), the U.S. Department of Justice (DOJ)...more

Dismissal of Shareholder Derivative Suit for Failure to Allege Demand Was Excused

Goodwin on 11/3/2022

On September 27, 2022, U.S. District Judge Kevin McNulty of the District of New Jersey dismissed a consolidated derivative action allegedly brought on behalf of Cognizant Technology Solutions Corporation against certain...more

SEC approves executive officer incentive compensation clawback rules

BCLP on 10/28/2022

On October 26, 2022, the SEC – by a 3-2 vote – approved final rules directing the NYSE, Nasdaq and other stock exchanges to adopt requirements for listed companies to develop and implement clawback, or recovery, policies that...more

Red Flag Refresher: Broker-Dealers and the Importance of Strong AML Compliance

Holland & Knight LLP on 7/6/2022

The SEC continues to focus a portion of its enforcement attention on registrants' obligations with regard to anti-money laundering (AML) compliance and transaction monitoring. In this post, we provide a refresher on the...more

U.S. Investment Firm Enters $6 Billion Parallel Resolutions With DOJ And SEC Over Allegations Of Fraudulent Conduct By Employees...

A&O Shearman on 5/25/2022

On May 17, 2022, the U.S. Department of Justice (“DOJ”) and the U.S. Securities and Exchange Commission (“SEC”) announced parallel resolutions with a registered investment advisor (the “Advisor”), resolving criminal and civil...more

Enforcement appears as messages disappear: The perils of personal and ephemeral messaging

Eversheds Sutherland (US) LLP on 1/7/2022

On December 17, 2021, a financial institution agreed to pay $200 million in fines to the Securities and Exchange Commission and Commodities Futures Trading Commission for allowing employees to discuss business on their...more

Welcome of 31 Days to a More Effective Compliance Program for September – Internal Controls

Thomas Fox - Compliance Evangelist on 9/1/2020

It is a new month and a new topic for 31 Days to a More Effective Compliance Program. In September, I will consider internal controls. I am pleased to welcome back Affiliated Monitors, Inc. (AMI) as this month’s sponsor of...more

[Webinar] Anti-Corruption and Compliance Training - May 28th, 10:00 am - 11:30 am EDT

McDermott Will & Emery on 5/21/2020

Please join McDermott and Grant Thornton on Thursday, May 28, for a webinar training on anti-corruption and compliance. This training will discuss the auditing standards on illegal acts by clients and the auditor’s...more

The Foreign Corrupt Practices Act: SEC Enforcement And Lessons In Corporate Compliance

Amundsen Davis LLC on 2/25/2020

The Foreign Corrupt Practices Act of 1977 (“FCPA”) amended the Securities Exchange Act of 1934 (“Exchange Act”) and is enforced by the Securities and Exchange Commission (“SEC”). The purpose of the FCPA is to bolster the...more

SEC Enforcement in Financial Reporting and Disclosure: 2019 Mid-Year Update

Jones Day on 8/6/2019

We are pleased to present our annual mid-year update on financial reporting and issuer disclosure enforcement activity for 2019. This White Paper primarily focuses on the U.S. Securities and Exchange Commission's enforcement...more

The Vegas Sands FCPA Action: Good Controls are Good Business

Dorsey & Whitney LLP on 4/11/2016

FCPA cases typically center on the payment of bribes to obtain or retain business. The bribes paid are usually small in comparison to the profits achieved – the obvious motive for the wrongful conduct. The profits of course...more

Reflections on the Hitachi FCPA Enforcement Action

Thomas Fox - Compliance Evangelist on 9/30/2015

Earlier this week, the Securities and Exchange Commission (SEC) announced resolution of a Foreign Corrupt Practices Act (FCPA) enforcement action involving the Hitachi Ltd (Hitachi). There were several interesting aspects to...more

What Would Dr. Seuss Say about an Allowance?

Thomas Fox - Compliance Evangelist on 7/29/2015

Earlier this month we had the release of a second book by Harper Lee, “Go Set a Watchman”, which was miraculously discovered having been written some 50+ years ago. This week, there was another release from a (now deceased)...more

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