The U.S. Securities and Exchange Commission (SEC) is putting some muscle behind Regulation Best Interest (Reg BI). On June 16, 2022, nearly two years after Reg BI went into effect, the SEC filed its first federal lawsuit to enforce the
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FinCEN Issues Highly Anticipated Final Rule on Beneficial Ownership Reporting under the Corporate Transparency Act
On September 29, 2022, the Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) issued its highly anticipated Final Rule implementing the beneficial ownership information (“BOI”) reporting requirements of the Corporate Transparency Act (“CTA”) legislation. The Final Rule brings about
DOJ Announces Sweeping Policy Updates Targeting Corporate Criminal Enforcement and Individual Accountability
On September 15, 2022, Deputy Attorney General (DAG) Lisa Monaco, announced several significant policy updates impacting the U.S. Department of Justice’s (DOJ) enforcement practices for both corporations and individuals. Speaking to attendees at the NYU Program on Corporate Compliance and
DOJ Secures Spoofing Conviction, but Loses on Novel RICO Charges
The DOJ recently garnered a win in its spoofing case against two precious metals traders who prosecutors alleged had engaged in widespread market manipulation and fraud through a practice known as “spoofing.” But the verdict is also in on the
Court Holds Oral Downloads of Witness Interviews Waive Corporate Privilege
In a criminal case against two former officers of Cognizant Technology Solutions Corp. (Cognizant), a New Jersey federal district court recently ordered Cognizant to produce unredacted internal interview memorandums and notes prepared by its outside counsel. The court found that
Talking Jury Selection With JurorSearch CEO Dan Johnson
JurorSearch CEO and Co-Founder Dan Johnson sits down with Perkins Coie White Collar & Investigations Partner Markus Funk to discuss some of the latest developments in jury selection. They talk about how customized software solutions can help prosecutors, civil litigators,
SCOTUS Rejects Negligence Standard in ‘Pill Mill’ Cases
The US Supreme Court in Ruan sided with doctors seeking a burden of proof higher than mere negligence in prosecutions for unlawful distribution of controlled substances. The decision represents a significant win for those worried about overcriminalization and the associated
U.S. Treasury Renews Focus on AML Risks for Investment Advisors
The U.S. Treasury is taking a fresh look at requiring investment advisers to meet the same standards as banks and broker-dealers, including potentially subjecting investment advisers to the BSA/AML compliance and reporting requirements that apply to other types of financial
Glencore Resolves Charges of Global Corruption and Market Manipulation
On May 24, 2022, Glencore International A.G. (“Glencore”), a multi-national resource extraction and commodities trading company, pleaded guilty in the Southern District of New York to one count of conspiracy to violate the anti-bribery provision of the Foreign Corrupt Practices
Could It Be Easier to Convict a Doctor Than a Cartel Member? Why the Impending SCOTUS “Pill Mill” Ruling Makes Some Observers Nervous
The U.S. Supreme Court is poised to issue what could be a monumental decision in the Court’s Controlled Substances Act (“CSA”) jurisprudence as applied to the nation’s opioid epidemic. At issue in Ruan v. United States is the requisite intent