News & Analysis as of

Enforcement Actions Corporate Governance California

Orrick, Herrington & Sutcliffe LLP

OCC releases May 2025 enforcement actions

On May 15, the OCC announced enforcement actions against two banks and three institution-affiliated parties. The OCC issued cease and desist orders to banks in Miami, as well as Beverly Hills, California, respectively, for...more

NAVEX

California Reminds Businesses Bribery is Illegal – Why Other States Should Follow Suit

NAVEX on

On February 10, 2025, President Trump issued an  executive order pausing federal enforcement over the U.S. Foreign Corrupt Practices Act by ordering the U.S. Attorney General to “cease initiation of any new FCPA...more

Husch Blackwell LLP

State Attorneys General May Step Up Foreign Anti-Corruption Enforcement Efforts Following Federal Enforcement Pause

Husch Blackwell LLP on

For decades Foreign Corrupt Practices Act (FCPA) enforcement has been largely considered a federal matter, with the U.S. Department of Justice (DOJ) enforcing the statute’s criminal provisions.[1] Enacted in 1977, FCPA...more

Allen Matkins

If You Agree That Stock Issuance Was Not "Compensation, Salary, Or Income", You May Want To Think Carefully Before Issuing A Form...

Allen Matkins on

Ten years ago, Hovik Nazaryan sued Femtometrix, Inc. claiming that the company had issued shares to him than it had promised.  The parties settled the lawsuit.  The settlement agreement provided that the stock issued to Mr....more

ArentFox Schiff

California Attorney General Warns That FCPA Violations Are Actionable Under the State’s Unfair Competition Law

ArentFox Schiff on

On April 2, California Attorney General (AG) Rob Bonta issued an alert reminding businesses operating in California that it is illegal to violate the Foreign Corrupt Practices Act (FCPA)....more

Skadden, Arps, Slate, Meagher & Flom LLP

California Attorney General Warns That FCPA Violations Are Still Actionable Under State Law

Key Points -- - The FCPA remains valid and enforceable U.S. law, and violations of the law may serve as a predicate offense under state and local laws. - Companies should be prepared for continued enforcement of...more

Allen Matkins

As Predicted, Silicon Valley Bank Failure Will Test Fiduciary Duties Of Officers And Directors Under California Law

Allen Matkins on

Late last year, I wrote that the the Board of Directors of the Federal Deposit Insurance Corporation had voted unanimously to approve the staff’s request for authorization to file a suit against six former officers and 11...more

Allen Matkins

California's Proxy Rule

Allen Matkins on

The federal proxy rules, with certain exceptions, apply to solicitations of proxies with respect to securities registered under Section 12 of the Securities and Exchange Act of 1934.  Very few California corporations,...more

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