News & Analysis as of

Self-Reporting

Australian agencies responsible for the enforcement of foreign bribery laws release self-reporting guidelines

by Allen & Overy LLP on

The Australian government agencies responsible for investigating and prosecuting foreign bribery have released joint best practice guidelines that indicate how they will approach self-reporting by companies voluntarily...more

Delicate FINRA Balancing Act: To Self-Report or Not?

by Carlton Fields on

FINRA Rule 4530(a) requires member firms to promptly report certain enumerated events. Rule 4530(b) is less specific, with supplemental guidance advising that a firm should report when it concludes or reasonably should have...more

Businesses face unlimited fines for failure to prevent facilitation of tax evasion

by Womble Bond Dickinson on

Introduction - As part of a global crackdown on tax evasion, the Criminal Finances Act 2017 (the Act) introduced a new offence. From 30 September 2017, an organisation commits a criminal offence if an employee or...more

Nonpayment of Subcontractors: Can Subcontractors Get Any Help From the Government?

by Williams Mullen on

Although subcontractors lack privity of contract with the government customer and subcontract disputes generally are governed by local law, subcontractors do have some legal leverage to help them get paid....more

The Sapin II Act: New Perspectives on Cross-Border Investigations

On November 30, 2017, the Institut des Hautes Etudes sur la Justice (IHEJ) and Skadden hosted a roundtable at the Cercle de l’Union Interalliée in Paris to discuss new perspectives on the Sapin II Act and cross-border...more

"Absolute Liability" for a Failure to Prevent Foreign Bribery: Significant Change Ahead in Australia?

by Jones Day on

On 6 December 2017, Australia's Federal Government tabled the Crimes Legislation Amendment (Combatting Corporate Crime) Bill 2017 ("Bill"), which contains various amendments to Australia's foreign bribery regime, including...more

Mexico: Nuevos Lineamientos sobre el Sistema para que los Empleadores Auto-Informen Electrónicamente el Nivel de Cumplimiento con...

by Littler on

El 12 de diciembre de 2017, la Secretaría del Trabajo y Previsión Social (“STPS”) publicó en el Diario Oficial de la Federación, los lineamientos de operación del sistema electrónico para que los empleadores informen a la...more

Mexico: New Guidelines on Online System for Employers to Self-Report Compliance with the Labor Law

by Littler on

On December 12, 2017, Mexico’s Labor Ministry (known as “STPS” for its acronym in Spanish) published in the Official Gazette of the Federation operating guidelines for its new online compliance system for employers to report...more

Senate Passes the Criminal Antitrust Anti-Retaliation Act, and Takes Another Shot at Increased Protections for Whistleblowers

On November 15, 2017, the United States Senate passed the Criminal Antitrust Anti-Retaliation Act of 2017 (“CAARA”). This Act would amend the Antitrust Criminal Penalty Enhancement and Reform Act of 2004 (“ACPERA”), and would...more

Significant Reform Signalled for Australia's Foreign Bribery Regime

by Jones Day on

On 6 December 2017, the Commonwealth Government announced its intention to significantly reform Australia's existing anti-foreign bribery regime. The Crimes Legislation Amendment (Combatting Corporate Crime) Bill 2017, now...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

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

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 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

FERC Enforcement Releases 2017 Annual Report

• On November 16, 2017, the Federal Energy Regulatory Commission released its 11th annual Report on Enforcement, detailing the agency’s Enforcement activities in 2017. • Key highlights are that Enforcement priorities were...more

How Employers Can Become Experts at Data Breaches: Blowing the whistle

by Bryan Cave on

A large portion of the data breaches that occur each year involve human resource related information. Bryan Cave has put together a multi-part series to help human resource managers understand, prepare for, and react to, a...more

Lawyers Beware: Battle of Legal Professional Privilege of Internal Investigation Continues in England and Wales

Last month, the Court of Appeal of England and Wales granted permission for Eurasian Natural Resources Corp. Ltd. (“ENRC”) to appeal the May 2017 decision by the High Court relating to a dispute over the legal professional...more

Alternatives to prosecution in an age of global enforcement - Global alternatives to prosecution when a corporate is facing a...

by White & Case LLP on

Businesses are increasingly becoming global, and so are enforcement actions in response to alleged corporate wrongdoing around the world. The harsh reality is that wherever there is potential corporate criminal wrongdoing,...more

The CFTC’s New Policy on Self-Reporting and Cooperation

by Reed Smith on

On September 25, 2017, the U.S. Commodity Futures Trading Commission (“CFTC”) released an Updated Advisory on Self-Reporting and Full Cooperation (the “Updated Advisory”) to supplement the cooperation advisories that it...more

CFTC’s Enforcement Division Announces New Focus on Self-Reporting

Upon discovering a potential violation, a company is often faced with the dilemma of whether to self-report the incident to its regulator or attempt to deal with the incident through exclusively internal means. On September...more

CFTC’s Updated Enforcement Advisory Attempts To Shift Incentives In Favor Of Self-Reporting And Full Cooperation

On September 25, 2017, the Division of Enforcement (Division) of the US Commodity Futures Trading Commission (Commission) issued an “Updated Advisory On Self Reporting And Full Cooperation.” The Enforcement Advisory was...more

When the Inevitable Happens: When to Self-Report Securities Law Violations and What to Expect When You Do

by WilmerHale on

An anonymous compliance hotline within your investment adviser suddenly receives complaints about a market-beating portfolio manager. Your in-house compliance and legal team investigate and learn this portfolio manager may...more

Financial Services Weekly News - September 2017 #3

by Goodwin on

Editor's Note - Cybersecurity Returns to Center Stage. The Equifax breach and recent news that the Securities and Exchange Commission’s (SEC) EDGAR test filing system was hacked in 2016 have brought cybersecurity back to...more

New CFTC Enforcement Policy Encourages Self-Reporting

by WilmerHale on

In January of this year, the Commodity Futures Trading Commission's (CFTC or Commission) Division of Enforcement (the Division) issued revised cooperation credit guidelines for companies, and its first-ever cooperation...more

New CFTC Director of Enforcement Incentivizes Self-Reporting, Counts on “Buy-in” From Market Participants

by King & Spalding on

In prepared remarks at New York University’s School of Law on September 25, 2017, the newly minted Director of Enforcement at the U.S. Commodity Futures Trading Commission passionately outlined the contours of the CFTC’s new...more

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