Newsletters

10.24.18

Insurance Won’t Cover Disgorgement Payment, NY Appellate Court Rules

Applying a U.S. Supreme Court decision in the context of insurance coverage for a bank, a New York appellate court ruled that the amounts paid to the Securities and Exchange Commission (SEC) as disgorgement under a cease and desist order issued by the SEC were a “penalty” for which ...


08.30.18

Second Circuit Knocks Out FCPA Conspiracy Charge Against Foreign National

Over the years, the Foreign Corrupt Practices Act of 1977 (FCPA) has expanded beyond U.S. issuers and domestic concerns to cover foreign companies and foreign individuals.


08.30.18

Insurers off the Hook for Defense in False Ad Suit

In a blow to an advertiser, a California federal court held that its insurers were not obligated to defend or indemnify the company in a false advertising lawsuit.


08.16.18

DOJ Expands FCPA Self-Reporting Protections to Successor Companies

Building on its efforts to encourage self-reporting of Foreign Corrupt Practices Act (FCPA) violations, the Department of Justice (DOJ) announced it will extend protections to voluntary reporting successor companies for preacquisition violations of the target company.


07.13.18

DOJ Fraud Task Force: What It Means for Financial Services

With the July 11 announcement by Deputy Attorney General Rod Rosenstein of the new Department of Justice (DOJ) Task Force on Market Integrity and Consumer Fraud comes the obvious question: How will this task force affect the ongoing role of the Bureau of Consumer Financial Protection(CFPB); the ...


06.22.18

SCOTUS Overturns SEC Judge Appointments: What You Need to Know

Many cases involving federal regulatory law are largely decided by judges appointed by the staffs of federal agencies—administrative law judges (ALJs).


05.10.18

DOJ Announces Global Resolution Initiative for Companies Under Investigation

In a speech on May 9, 2018, Deputy Attorney General Rod Rosenstein announced another policy shift at the Department of Justice (DOJ), signaling that corporate accountability will be tempered by a coordinated multiagency approach to resolving cases, with the goal of avoiding “piling on” ...


01.25.18

DOJ Releases Guidance for Evaluating Dismissal of Qui Tams

A recent memo issued by the U.S. Department of Justice (DOJ) sets forth the issues it considers in deciding whether to seek the dismissal of qui tam cases filed by relators, and, although written for internal government use, provides guidance to defendants in arguing for such dismissal motions to ...


11.20.17

Insider Trading: Once More Into the Breach

On Aug. 23, 2017, the Second Circuit decided U.S. v. Martoma, in which the court affirmed a tippee’s conviction in an insider trading case based on the Supreme Court’s 2016 decision in Salman v. U.S. The Martoma opinion further eroded the Second Circuit’s own landmark 2014 ...


10.18.17

Supreme Court to Hear Important Whistleblower Case

Must an employee “whistleblower” specifically provide information about alleged corporate misconduct to the Securities and Exchange Commission (SEC) in order to get protection under the anti-retaliation provisions of Dodd-Frank?