U.S. regulators just took the fight against bribery and corruption to a new arena: Wall Street. Attorneys John Goselin and Mauro Wolfe of Duane Morris explain: “On May 7, 2013, the U.S. Attorney’s Office for the Southern District of New York unsealed extraordinary criminal charges against two registered representatives of a U.S. broker-dealer and a… Read more »
Welcome to the latest edition of the Corporate Law Report. You know what to do: Watch the video overview above and, for any topics that interest you, go deeper with the legal analysis and commentary below>> 1. Gabelli v. SEC: Supreme Court in Gabelli: Clock Starts Ticking When Fraud Occurs, Not When It’s Discovered –… Read more »
“SEC Chairman Elisse Walter … remarked that the SEC should work to give investors access to information and protect them from unnecessary risks such as fraud, market manipulation, insider trading and market structure failures, but should not discourage all risk-taking, in order to allow for continued growth in public offerings.” (Katten Muchin Rosenman) In late… Read more »
“The [Straub] decision … highlights the very broad reach sought by US authorities for the FCPA, and the risk that foreign national executives may find themselves facing FCPA enforcement actions in the United States based on minimal contacts with the United States, including their use of electronic communications services based in or routed through the… Read more »
From online privacy, to revised labor laws, to health care considerations, and more … here’s a roundup of recent legal advisories covering a broad range of issues on doing business in the People’s Republic of China. For your reference: Privacy in China: New Rule to Protect Personal Information (Dechert LLP): “The Standing Committee of the… Read more »
Welcome to the latest edition of JD Supra’s Corporate Law Report, which includes: executive speed dating of the “need to know” variety; good reasons to conduct a trademark audit now; a look at top FCPA enforcement in 2012 and what they mean for your compliance plans; a clarification of the Economic Espionage Act; and more.… Read more »
What’s on your mind? Four themes in particular, if we go by what you’ve read over the past year: Legal issues related to doing business internationally Dodd-Frank regulations and other financial reforms Intellectual property Health care, including in particular HIPAA regulations and health care reform As popular as those issues were, however, there are many… Read more »
“Although much of the guidance walks through established DOJ and SEC positions and practices, the [Resource Guide to the U.S. Foreign Corrupt Practices Act] does, through the use of real-world examples and detailed hypotheticals, provide more concrete direction than was previously available.” (Foley Hoag) Earlier this week, the Securities and Exchange Commission and the Department… Read more »
The long-awaited federal guide to the Foreign Corrupt Practices Act is out. Published by the Criminal Division of the U.S. Department of Justice and the Enforcement Division of the U.S. Securities and Exchange Commission, the 130-page guide provides an in-depth look at both the law and the way that government officials are enforcing it. See for… Read more »
These recent updates aimed at foreign companies doing business in Russia remind us of the stark contrast between Ian Fleming’s Cold War Russia and the Russia of today, which joined the World Trade Organization earlier this summer. On accounting, arbitration and anti-corruption, from Russia with JD Supra love: 1. New accounting rules on January 1,… Read more »
[Link: The Pfizer DPA Enhanced Compliance Obligations-the New Normal? by Thomas Fox] Earlier this month, global pharmaceutical company Pfizer Inc. agreed to pay $60 million to the U.S. Securities and Exchange Commission and the U.S. Department of Justice to settle charges that the company violated the Foreign Corrupt Practices Act. From law firm Warner Norcross… Read more »
For your convenience, a roundup of updates on the topic of SEC enforcement, organized into three broad categories: enforcement actions, oversight and authority, and procedures. Enforcement Actions “District of Columbia Circuit Vacates SEC Default Order for Failure to Apply Rule Consistently” in Inside the Courts: An Update From Skadden Securities Litigators (Skadden, Arps, Slate, Meagher… Read more »
What’s on your mind? Human trafficking, online advertising, corporate bribery, and legal issues for nonprofits, among other things. For your reference, here’s a look at the most-read Corporate Law Report posts over the past month: 1. California Transparency in Supply Chains Act Takes Effect January 1, 2012 “The California Transparency in Supply Chains Act of… Read more »
(Wal-Mart Bribery Allegations: Initial Impressions by Thomas Fox) In a stunning revelation this weekend, the New York Times reported on millions of dollars in bribes spent by Wal-Mart de Mexico – and covered up by Wal-Mart’s board and senior management – to support the unit’s rapid expansion to market dominance in Mexico. If the allegations… Read more »
Any corporation whose business extends beyond United States borders must have a comprehensive and effective compliance program to address the rules of the Foreign Corrupt Practices Act – and, for that matter, any additional corruption regulations in countries where they conduct business. But a good program is more than a set of rules, it’s a… Read more »
