Newsletters

05.22.19

State AGs, ABA Back Bill On Financial Services For Cannabis

Support continues to build for the Secure and Fair Enforcement (SAFE) Banking Act, with a coalition of 38 state and territorial Attorneys General as well as the American Bankers Association (ABA) writing to lawmakers to urge passage of the bill.


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.


02.28.18

Key Whistleblower Decision Addresses Scope of Dodd-Frank Protections

In a unanimous decision issued on February 21, 2018, the U.S. Supreme Court held that the anti-retaliation provisions of the 2010 Dodd-Frank law protect only those whistleblowers who report information to the Securities and Exchange Commission (SEC).


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?


07.31.17

Supreme Court Limits SEC’s Disgorgement Power

On June 5, 2017, the Supreme Court held in Kokesh v. SEC that the five-year statute of limitations found in 28 U. S. C. §2462 with respect to actions for civil monetary penalties applies equally to actions for disgorgement.


06.28.17

U.K. Court Finds No Privilege Protection for Internal Investigation

On May 8, 2017, a London High Court made a landmark ruling in favor of the Serious Fraud Office—England’s equivalent of the Fraud Section of the U.S. Department of Justice (DOJ)—in its quest to obtain documents prepared in an internal investigation that were claimed to be ...


05.30.17

Government Officials Pledge Continued White Collar Enforcement

Recent pronouncements by Attorney General Jeff Sessions, Acting Principal Deputy Assistant Attorney General Trevor N. McFadden and recently confirmed SEC chair Jay Clayton have provided assurances that the DOJ and SEC will continue to "vigorously enforce" white collar laws as a high ...