Corporate Compliance

Enforcement actions sanctioning firms and, in a few cases, individuals for failing to investigate and report suspicious activity have been significantly on the rise. SEC, FinCEN, FINRA, and others have been active in this area, particularly with regard to trading at, by, or through the financial institution.  One critical component of a financial institution’s ability to maintain a robust anti-money laundering (“AML”) program and comply with its suspicious activity reporting (“SAR”) obligations is to ensure…
First Post in a Two-Part Series Recent actions in the crypto realm demonstrate that authorities and regulators have not slackened their commitment to applying and enforcing Anti-Money Laundering (“AML”) laws and regulations in the crypto industry.  These actions serve as reminders that not only is the government keeping a close eye on cryptocurrency, but its oversight and enforcement can and will come from many angles. What’s more, the government’s recent various proactive and reactive compliance efforts…
Authorities Begin to Focus on Individual Responsibility This week, Danish prosecutors charged Thomas Borgen, the former chief executive officer of Danske Bank, for his involvement in the money laundering scandal arising out of Danske Bank’s Estonian branch, involving an astonishing 200 billion euros ($224 billion) in alleged suspicious transactions. Borgen, whose home prosecutors reportedly raided on March 12, oversaw Danske Bank’s international operations, including Estonia, between 2009 and 2012. Borgen stepped down as CEO of…
Before signing an agreement with a new franchisee, franchisors often want to make sure the franchisee has the knowledge, skill, and investment necessary to be successful. While many people are interested in buying franchises, not everyone qualifies for every type of franchise. A franchise application is one tool that can help franchisors weed out potential franchisees who may not be the best fit for the system. An application can include questions about a franchisees experience…
Top marketing executives from some of the most popular and growing franchise systems recently spoke at the Philadelphia Chapter of the International Franchise Association Women’s Franchise Network meeting about capitalizing on social media to increase sales and build business. According to the esteemed panelists, by far the two most utilized social media sites used in marketing to potential franchisees is LinkedIn and the still classic, Facebook.   LinkedIn and Facebook  provide the most fertile ground for…
The Digital Revolution is here. Contractors are reinventing their products, customer experiences, and business models — and transforming the public sector marketplace as a result.  Meanwhile, government agencies are increasingly using emerging technologies and developing plans to promote and incentivize their use. Join us on May 8, 2018, at 10:30 AM Eastern, as Crowell & Moring attorneys Gail Zirkelbach, John Gibson, and Mana Lombardo lead a discussion highlighting regulatory and contractual compliance considerations that are pivotal to…
I am really honored to be moderating the Practising Law Institute’s 2019 Anti-Money Laundering Conference in New York City on May 14, 2019, starting at 9 a.m.  My co-chairs are Nicole S. Healy of Ropers Majeski Kohn & Bentley PC, and Jamie Boucher of Skadden Arps Slate Meagher & Flom LLP.  PLI’s AML conference in San Fransisco will be held on June 10, 2019, and both conferences will be available throughout the country via webcasts and…
In the recent Delaware Supreme Court decision of Leaf Invenergy Co. v. Invenergy Renewables, LLC, No. 308, 2018 (Del. May 3, 2019), the High Court found that a nominal damages award of $1 by the Court of Chancery in a suit over a multi-billion dollar sale of a portion of  defendant/appellee Invenergy Wind LLC (“Invenergy”), a wind farm developer, should be reversed because the sale violated the consent rights of the plaintiff/appellant investor, Leaf Invenergy…
Crowell & Moring’s 35th annual Ounce of Prevention Seminar (OOPS) is just around the corner, taking place on May 7 and 8 at the Renaissance Hotel in Washington. At this year’s seminar, “The Challenging Climb to Reach New Heights,” the Government Contracts Group will provide updates and insight in a variety of areas, including ethics and compliance, bid protests, False Claims Act enforcement, cybersecurity, international issues affecting government contractors, and more. Check back here for…
In a recent opinion issued by the Delaware Court of Chancery, Freeman Family LLC v. Park Avenue Landing LLC, C.A. No. 2018-0683-TMR (Del. Ch. Apr. 30, 2019), Vice Chancellor Montgomery-Reeves granted advancement to a member of a Delaware LLC.  In the case, plaintiff Freeman Family LLC (“Plaintiff”), a member of defendant Park Avenue Landing LLC (“LLC” or “Defendant”), requested advancement under the terms of the LLC’s operating agreement.  The operating agreement provides that members shall receive…