News & Analysis as of

Securities and Exchange Commission (SEC) Due Diligence Enforcement Actions

Gordon Rees Scully Mansukhani

Recent SEC AML Enforcement Against Securities Firms Engaged in Cannabis Sector

The evolving regulatory landscape for marijuana-related businesses poses unique compliance challenges for firms in the securities industry. The Financial Crimes Enforcement Network (“FinCEN”) continues to enforce its 2014...more

Oberheiden P.C.

Private Placement Debt Offerings: An Ultimate Guide

Oberheiden P.C. on

Private placement debt offerings offer a compelling alternative to traditional lending for many companies. The legal landscape governing these transactions involves key statutes, regulations, and the critical steps required...more

Ankura

Internal Control Lessons Learned from Global Anti-Corruption Enforcement in 2024

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2024 saw another strong year of Foreign Corruption Practices Act (FCPA) enforcement actions from the United States Department of Justice (DOJ) and the Securities and Exchange Commission (SEC). There were 15 resolutions with...more

Ankura

The Extended Network: Managing Third Parties' Bribery Risks

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Approximately 90% of U.S. Foreign Corrupt Practices Act (FCPA) enforcement cases from its inception in 1978 have involved third-party intermediaries engaging in bribery schemes. The reduced level of control or oversight...more

Guidepost Solutions LLC

How Corporations Can Protect Themselves by Conducting Supply Chain Due Diligence

In today’s complex global market, companies face significant risks when it comes to managing their supply chains. The recent criminal complaints against major tech firms like Apple, Dell, and Microsoft for allegedly using...more

Morrison & Foerster LLP

Recent Enforcement Action Serves as Reminder of SEC’s Active Enforcement of Tender Offer Rules

On September 6, 2024, the United States Securities and Exchange Commission (the SEC) charged Esmark Inc. (“Esmark”) and its Founder/Chairman and former CEO James Bouchard under Section 14(e) of the Securities Exchange Act of...more

American Conference Institute (ACI)

[Event] 40th International Conference on the FCPA - November 28th - 30th, National Harbor, MD

Hosted by American Conference Institute, the 40th International Conference on the FCPA returns for another exciting year with curated programming that shines a global spotlight on anti-corruption compliance challenges,...more

The Volkov Law Group

Flutter Entertainment Settles SEC FCPA Case for $4 Million for Improper Payments to Russian Consultants

The Volkov Law Group on

Flutter Entertainment, the previous owner of PokerStars, agreed to pay the Securities and Exchange Commission $4 million for improper payments to Russian-based consultants, stemming from conduct committed by The Stars Group,...more

Oberheiden P.C.

Internal Audit for FCPA Compliance: A Detailed Guide

Oberheiden P.C. on

The Foreign Corrupt Practices Act (FCPA) (15 U.S.C. § 78dd-1 et seq.) is a federal anti-bribery law that makes it unlawful for certain people to pay foreign government officials in order to conduct business abroad. While it...more

Mintz

Seizing Opportunity: The post-pandemic future of US life sciences M&A 2022

Mintz on

As we predicted in the previous edition of this report, 2021 turned out to be a very strong year indeed for US life sciences dealmaking, marked by high transaction values and volumes as the industry continued on its...more

Nelson Mullins Riley & Scarborough LLP

Increasing Due Diligence Before Token Listings to Uncover Fraud

As the U.S. Securities and Exchange Commission (“SEC”) continues to step up its enforcement concerning cryptocurrencies, U.S.-based exchanges should take note when conducting due diligence concerning tokens to list for...more

American Conference Institute (ACI)

[Event] 11th Summit on Anti-Corruption Brazil - May 25th - 26th, São Paulo - State of São Paulo, Brazil

Brazil’s Anti-Corruption and Compliance Community Will Gather for Large, 1:1 and Smaller-Group Discussion! As the longest-standing anti-corruption and compliance gathering in Brazil, Summit on Anti-Corruption Brazil is...more

Society of Corporate Compliance and Ethics...

[Event] Regional Compliance & Ethics Conference - March 28th, Phoenix, AZ

Looking for compliance training and networking in your area? SCCE’s Regional Compliance & Ethics Conferences offer practitioners convenient, local compliance training, including updates on the latest news in regulatory...more

The Volkov Law Group

Lessons Learned from the KT Corp. SEC FCPA Settlement (Part III of III)

The Volkov Law Group on

Even though the size of the KT Corp. SEC enforcement action is relatively small, the underlying misconduct provides a number of important lessons learned. ...more

Thomas Fox - Compliance Evangelist

FCPA Compliance Report - Karen Woody on JPMorgan and Nikola SEC Enforcement Actions

In this episode of the FCPA Compliance Report, I am joined by Professor Karen Woody. We discuss the recent SEC enforcement actions involving JPMorgan and Nikola, which were announced in December 2021. We discuss the...more

Bracewell LLP

The IRS Is Mining for Crypto Account Holders

Bracewell LLP on

For years, the cryptocurrency wallets of U.S. taxpayers have existed in a reporting gray zone. However, as it becomes clear that crypto asset transactions are not slowing down, the Internal Revenue Service (IRS) has signaled...more

The Volkov Law Group

WPP SEC FCPA Enforcement Action: Lessons Learned (Part III of III)

The Volkov Law Group on

The SEC’s FCPA enforcement action against WPP presents a number of important lessons learned, ranging from third-party risk management, properly responding to employee complaints and red flags, and failure to integrate...more

Herbert Smith Freehills Kramer

SEC Charges SPAC and Sponsor for Alleged Misrepresentations in Preliminary Proxy Filing Arising From Due Diligence Failures

On July 13, 2021, the Securities and Exchange Commission announced partially settled charges against the Special Purpose Acquisition Company Stable Road Acquisition Co. (SRA), SRA’s sponsor and CEO, SRA’s target Momentus Inc....more

Farrell Fritz, P.C.

“Do Your Homework!”: SEC Order Sends Strong Message to SPAC Participants on Due Diligence

Farrell Fritz, P.C. on

The Securities and Exchange Commission announced on July 13, 2021 that it settled fraud charges against a special purpose acquisition company, its sponsor, its sponsor’s CEO and its proposed merger target for making...more

Proskauer Rose LLP

SEC Brings Enforcement Action Against Space SPAC for Alleged Misleading Disclosure and Due Diligence Failures

Proskauer Rose LLP on

The U.S. Securities and Exchange Commission (“SEC”) has brought an enforcement action against a special purpose acquisition company (“SPAC”) and its major participants, highlighting enhanced regulatory scrutiny of SPACs and...more

Cozen O'Connor

SEC Brings Enforcement Action Against All Sides of a Proposed SPAC Transaction for Misleading Disclosures

Cozen O'Connor on

The Securities and Exchange Commission (SEC) continues to scrutinize special purpose acquisition company (SPAC) transactions. On July 13, 2021, the SEC announced its first enforcement action in which all sides of a proposed...more

Pillsbury Winthrop Shaw Pittman LLP

The Beginning of the SPAC Enforcement Wave: SEC Makes Example of SPAC for Spacing out on Diligence

Chair Gensler’s enforcement agenda begins to take shape as SEC brings sprawling enforcement action against wide range of SPAC participants. Consistent with prior SEC warnings regarding incentives for Special Purpose...more

Wilson Sonsini Goodrich & Rosati

SEC Announces Enforcement Action Relating to Proposed De-SPAC Transaction

On July 13, 2021, the U.S. Securities and Exchange Commission (SEC) announced a settlement with special purpose acquisition company (SPAC) Stable Road Acquisition Corp. (SRAC), its CEO, its sponsor, SRC-NI, and SRAC's...more

Winstead PC

SEC Brings Significant SPAC Enforcement Action

Winstead PC on

On July 13, the SEC announced charges against an array of participants in a de-SPAC transaction. Among those charged are the SPAC, the SPAC’s sponsor, the SPAC’s CEO, the merger target, and the merger target’s CEO. The...more

UB Greensfelder LLP

For FINRA, Unlike The SEC, Blaming The BD Always Seems To Be The Answer

UB Greensfelder LLP on

FINRA Enforcement has often been accused (again, admittedly, by me, and not too infrequently) of going after the “low-hanging fruit,” that is, taking the easy case when it presents itself. Putting aside the question whether...more

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