On June 6, 2023, the Public Company Accounting Oversight Board (“PCAOB”) proposed new auditing standards that would substantially broaden auditors’ responsibilities for considering an audit client’s noncompliance with laws and regulations, including fraud. If adopted, the proposal is likely to
Latest from White Collar Law & Investigations
Supreme Court Rejects “Objectively Reasonable” Defense to False Claims Act Liability
Key Takeaways:
- On June 1, 2023, in United States ex rel. Schutte v. SuperValu Inc., the U.S. Supreme Court unanimously held that defendants cannot avoid liability under the False Claims Act (FCA) by demonstrating that their conduct was consistent with
French Anticorruption Authorities Issue New Guidance Regarding Internal Investigations
Key Takeaways
- Companies in France should have detailed procedures covering investigations of wrongdoing and should also clearly lay out employees’ rights and obligations during such investigations.
- Investigative tools must be proportionate to the wrongdoing and should respect the privacy rights
The Supreme Court Unanimously Rejects Broad Interpretation of Wire Fraud Statute
Key Takeaways
- Courts are showing continued skepticism of broad use of federal fraud statutes. Last week, two decisions repudiated creative government interpretations of wire fraud’s “property” requirement.
- In United States v. Ciminelli, the Supreme Court unanimously rejected the “right to
Foreign Corrupt Practices Act (FCPA) | 2022 Year in Review and a Look Ahead
Key Takeaways
- DOJ continues to focus on corporate self-disclosure and remediation, individual accountability, and international cooperation on corruption matters.
- DOJ is putting new emphasis on the use of compensation system incentives and the threat of clawbacks to encourage compliance efforts
Federal Cryptocurrency Enforcement in 2023
This is the eighth part in our 2023 series examining important trends in white collar law and investigations. Up next: anti-corruption.
Key Takeaways:
- As we predicted in our March 2022 post, 2022 was a year of heavy cryptocurrency enforcement,
Andrea Campbell’s First Month in Office: A Review of the Attorney General’s Priorities
2023 promises historic change for the Office of the Massachusetts Attorney General with Andrea Campbell sworn in as the new Attorney General earlier this year. Andrea Campbell ran a campaign on the idea that the Attorney General’s office is uniquely
Will Stakeholder Objections and Legal Uncertainty Slow an ESG Revolution?
This is the sixth part in our 2023 series examining important trends in white collar law and investigations. Up next: crypto enforcement.
According to the Securities & Exchange Commission, its proposed revisions to SEC regulations regarding climate change disclosures in
Previewing SEC Enforcement in 2023
This is the fifth part in our 2023 series examining important trends in white collar law and investigations. Up next: crypto enforcement.
Takeaways:
- The SEC’s Division of Enforcement set record-highs in total money relief ordered and total civil penalties assessed
Scrutiny for the Private Sector Will Come from Both Sides of the Aisle in the 118th Congress
This is the fourth part in our 2023 series examining important trends in white collar law and investigations. Up next: SEC.
Key Takeaways
- With Republicans gaining control of the House, the party has plans to investigate both areas of focus