SEC Office of Compliance Inspections and Examinations Issues 2020 Examination Priorities

John W.R. Murray recently authored a White Collar Crime and Government Investigations Alert about the SEC Office of Compliance Inspections and Examinations 2020 examination priorities.  They include prioritizing the interests of retail or “Main Street” investors, particularly with respect to registered investment advisers that serve retail investors, cybersecurity and digital assets.

Click here to read the full alert. More

White Collar Year in Preview: Anti-Corruption Trends in 2020

Editors’ Note: This is the third in our start-of-year series examining important trends in white collar law and investigations in the coming year. Our previous entry discussed healthcare fraud in 2020. Up next: a look at trends regarding the False Claims ActLook for additional posts throughout the month of January.

  • Introduction

2019 was a blockbuster year for FCPA enforcement.… More

White Collar Year in Preview: Healthcare Fraud Trends in 2020

Editors’ Note: This is the second in our start-of-year series examining important trends in white collar law and investigations in the coming year. Our previous entry discussed SEC enforcement in 2020. Up next: a look at trends in anti-corruption and under the Foreign Corrupt Practices Act. Look for additional posts throughout the month of January.

2019 saw ongoing action in the healthcare space.… More

DOJ Issues New Policy Regarding Voluntary Disclosures of Export Controls and Sanctions Violations

In December, the Department of Justice (DOJ) announced the release of a new policy for business organizations regarding voluntary self-disclosures of export control and sanctions violations. The new Policy makes explicit that when a company (1) voluntarily self-discloses export control or sanctions violations to the Counterintelligence and Export Control Section (CES) of DOJ’s National Security Division (NSD), (2) fully cooperates, and (3) timely and appropriately remediates its conduct, there is now a presumption that,… More

White Collar Year in Preview: SEC Enforcement Trends in 2020

Editors’ Note:  This is the first in our start-of-year series examining important trends in white collar law and investigations in the coming year.  Up next:  a look at trends in health care enforcementLook for additional posts throughout the month of January.

As we look towards the SEC Division of Enforcement’s agenda for 2020,… More

SEC Office of the Whistleblower Issues 2019 Annual Report

John W.R. Murray and Christian Garcia recently authored a White Collar Crime and Government Investigations Alert about the annual report from the SEC’s Office of the Whistleblower, which provided details on enforcement priorities and whistleblower activity that are important for public and private companies, investment advisers and broker-dealers.

Click here to read the full alert. More

House of Representatives Votes to Codify Insider Trading Laws

Yesterday, the full House of Representatives approved H.R. 2534, otherwise known as the Insider Trading Prohibition Act.  If passed by the Senate and signed by the President, this legislation would mark an important milestone in insider trading jurisprudence.  For decades, the Securities and Exchange Commission (“SEC”) and Department of Justice (“DOJ”) have pursued insider trading violations through general anti-fraud provisions, which has resulted in extensive judge-made law and ambiguity as to when actors will be held liable for insider trading. … More

Foreign Executive Found Guilty of FCPA Violations

Anthony D. Mirenda and Shrutih V. Tewarie recently authored a White Collar Crime and Government Investigations Alert about a foreign executive convicted under the Foreign Corrupt Practices Act based on evidence that he acted as an agent of a U.S. subsidiary in carrying out a bribery scheme.  The case, which has already been appealed to and remanded from the Second Circuit, raises important questions about the extraterritorial application of the FCPA.… More

Second Circuit Revives False Claims Act Suit Stemming from ‘08 Crisis, Finding Federal Reserve Banks Were “Agents” of U.S.

In United States ex rel. Kraus v. Wells Fargo & Co., No. 18-1746 (2d Cir. Nov. 21, 2019), two employees of banks later acquired by Wells Fargo alleged a “pervasive pattern” of fraud in connection with the securitization and sale of toxic mortgages.  When the economy imploded, Wells Fargo looked for help from the Federal Reserve Banks (“FRBs”).  In their False Claims Act suit,… More

SEC Division of Enforcement Issues 2019 Annual Report

On November 6, 2019, the SEC Division of Enforcement published its annual report for fiscal year 2019. The report provides valuable insight, not only as to the Division’s performance over the past year, but also about its current priorities and where it will be focused in the near-term future. Overall, Enforcement’s program since 2017, when SEC Chairman Jay Clayton assumed leadership of the agency, has been shaped by five “core principles”: (1) focus on the retail investor;… More