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 »
(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 »
From news provider Bloomberg Law, a video interview with Richard Holwell, the judge in the insider trading trial of Galleon Group co-founder Raj Rajaratnam. Holwell shares his insight on trends in white collar investigations, the growing FBI reliance on wiretaps to catch insider trading, privacy rights, and more. Rajaratnam Judge: Wiretaps in Insider Trading Cases are… Read more »
“In an unusual move,” writes Sarah Riley Howard from Warner Norcross & Judd’s White Collar practice, “the Sixth Circuit ordered that a Tennessee businessman’s conviction for bank fraud must be vacated.” Convicted for his participation in a scheme to conceal the amount of loans granted his business, Timothy Parkes was acquitted after spending more than… Read more »
For your Monday morning reading pleasure, three quick links to corruption and compliance-related advisories recently published on JD Supra: - The Expansive Reach of the FCPA Extends to Japan Again: A Second Japanese Company Resolves FCPA Charges Related to a Nigerian Bribery Scandal From Morrison & Foerster: “The Marubeni case stems from a scheme by… Read more »
