The World Bank Group (the Bank) issued its fourth joint Sanctions System Annual Report on October 18, covering the Bank’s fiscal year from July 1, 2020 through June 30, 2021. The report includes updates by the Integrity Vice Presidency (INT),
Investigations and Enforcement Blog
The Investigations and Enforcement Blog, published by Steptoe LLP, focuses on legal developments related to government investigations, enforcement actions, and compliance issues. It covers topics such as national security enforcement, export controls, anti-corruption measures, employee privacy laws, and regulatory compliance across various jurisdictions. The blog discusses enforcement strategies by U.S. agencies, legislative changes affecting employer investigations, and international compliance rankings. It also addresses the intersection of technology and national security, including export restrictions on disruptive technologies and related prosecutions. The content is relevant for legal professionals monitoring enforcement trends and regulatory updates in investigations and compliance.
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Client Advisory: DOJ Announces Key Policy Changes Aimed at Expanding Corporate Criminal Enforcement
On October 28, 2021, Deputy Attorney General (DAG) Lisa Monaco outlined sweeping changes to the Department of Justice’s (DOJ) prosecution of corporate crime, signaling a tougher stance on white collar crimes than the previous administration. In a speech at the…
Client Advisory: Poaching: The Biden Executive Order and Employment Restrictions in Europe
No-poach and wage-fixing agreements – arrangements between companies seeking to prevent or limit the hiring of each other’s employees, or to suppress the wages and/or benefits of their respective current employees are not only currently under the spotlight in the…
Quarterly Investigations and Enforcement Webinar Recap – SEC and CFTC Enforcement
Steptoe’s recent quarterly Investigations & Enforcement webinar, held on May 12, included a discussion on Securities Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) enforcement trends. In this blog post we summarize the SEC and CFTC enforcement trends, including…
Former TPG Capital Executive Sentenced to Three-Month Prison Term in Varsity Blues Case
By Will Drake & James Purce
On May 12, 2021, US District Judge Nathaniel M. Gorton sentenced former TPG Capital private equity executive William McGlashan Jr. to three months in prison for his part in the “Varsity Blues” college admissions scheme.[1] In addition to the…
The Impact of UK Competition Law Director Disqualifications on the Role of the Non-Executive Director
The goal of the Company Directors Disqualification Act 1986 (‘CDDA’) is to protect the public and to deter competition law breaches. This subjects director behaviour to close scrutiny by courts and regulators, whose public enforcement goals differ from those associated…
Court Invokes Rule 26 Proportionality Requirement as Added Barrier to Discovery in SEC Action
A court in the Southern District of New York recently issued a noteworthy opinion in addressing a discovery dispute concerning communications between a non-party witness at the center of the SEC’s allegations and her attorneys, to whom she provided false…
Client Advisory: Public Inquiries in the UK: The Advantages and Disadvantages of Responding to a Request
By Zoe Osborne
It seems that at present in the UK hardly a week goes by without somebody calling for a public inquiry or the government announcing that it intends to launch one. There have been, and remain, many calls for a public…
The U.K. Serious Fraud Office’s Powers to Obtain Documents Located Overseas are Curtailed
By Zoe Osborne
On 5 January 2021, the U.K. Supreme Court (the U.K.’s highest Court) handed down its judgment in the case brought by the Houston-based engineering, procurement, construction company, KBR, Inc., challenging the right of the U.K. Serious Fraud Office (the SFO)…
Financial Crime Controls Remain a Key Focus and Priority in the U.K.
By Zoe Osborne
With the 3 February 2021 announcement by Santander, the Madrid-based financial services company, that it is cooperating with a civil regulatory investigation by the U.K. Financial Conduct Authority (the FCA) into its compliance with the U.K. Money Laundering Regulations 2007…