The SEC and the DOJ resolved FCPA charges with California based life science research and clinical diagnostics company Bio-Rad Laboratories, Inc. The charges stem from bribes paid in Russia, Vietnam and Thailand. The company...more
Having the correct compliance procedures in place can often be critical. The SEC and the DOJ have repeatedly emphasized this in FCPA cases. Conducting due diligence can be equally critical. For gatekeepers such as lawyers,...more
The SEC, the DOJ and other regulators frequently encourage self-reporting and cooperation with law enforcement. Taking those steps will result in “cooperation” credit that will be reflected in the charging process or when...more
The U.K.’s Serious Frauds Office prevailed in its first overseas corruption trial, securing a jury verdict in its favor and against two former Innospec executives. The case stems from a referral by the DOJ following FCPA...more
High speed trading continued to be a central focus in this shortened week with the markets closed on Friday. The New York Attorney General has reportedly issued subpoenas to three firms for information regarding their...more
Former hedge fund giant SAC Capital was sentenced this week. This concluded one of the most prominent insider trading cases. Under the terms of the sentence SAC Capital will no longer accept public funds....more
Trading repeatedly on inside information is likely to yield investigations by the SEC and the DOJ and charges by both even when steps are taken to carefully conceal your activity. That was the case for an insider trading ring...more
The number of FCPA enforcement actions brought in recent years has declined. The SEC, for example, reports that in fiscal 2013 it brought 8 cases, compared to 10 in 2012 and 15 in 2011. Nevertheless, those who might be...more
2/11/2014
/ Anti-Corruption ,
Chief Compliance Officers ,
Compliance ,
Corporate Counsel ,
Corporate Culture ,
Corruption Perceptions Index ,
Department of Justice (DOJ) ,
Enforcement ,
Foreign Corrupt Practices Act (FCPA) ,
Fraud ,
Risk Assessment ,
Risk Mitigation ,
Securities and Exchange Commission (SEC) ,
UK Bribery Act
The insider trading trial of former SAC Capital official Matthew Martoma opened this week in Manhattan with jury selection. The SEC announced the resignation of George Canellos, Co-director of the Division of Enforcement....more
1/10/2014
/ Anti-Money Laundering ,
Australia ,
Banking Sector ,
Bernie Madoff ,
CFTC ,
Compliance ,
Deferred Prosecution Agreements ,
Department of Justice (DOJ) ,
Enforcement ,
FERC ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Statements ,
Foreign Corrupt Practices Act (FCPA) ,
Fraud ,
George Canellos ,
Hong Kong ,
Insider Trading ,
Investment Funds ,
JPMorgan Chase ,
Libor ,
Martoma ,
Money Laundering ,
Ponzi Scheme ,
RBS ,
SAC Capital ,
Securities ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Securities Litigation ,
Short Sales ,
Suspicious Activity Reports (SARs) ,
UK
The Commission brought charges against three subsidiaries of ConvergEx Group, LLC, and two employees of subsidiaries, based on a scheme to defraud brokerage customers by charging excessive fees. In the Matter of G-Trade...more