Tag: Enforcement
Failing to Prepare is Preparing to Fail: UK Government Proposes ‘Failure to Prevent Fraud’ Corporate Criminal Offence
Economic crime has risen to such a level in the United Kingdom that UK Finance, a trade association for the UK banking and financial services sector, considers financial fraud to be a ‘national security threat’. More than £750 million was stolen from banking customers by fraudsters in the first half […]
DOJ Issues Further Guidance, Warnings on Ephemeral Messaging Apps
At the March 2023 American Bar Association National Institute on White Collar Crime, senior Department of Justice officials offered their most expansive guidance yet about the dangers of using ephemeral messaging for company communications. Officials noted that when conducting an investigation, DOJ prosecutors will consider a company’s use of ephemeral and […]
US Government ‘Strike Force’ to Block Foreign Adversaries From Obtaining Disruptive Technologies
Key takeaway The federal government sent another big signal that it’s stepping up efforts to keep cutting-edge, dual-use and military technologies out of the hands of adversarial foreign governments when it announced the launch of the Disruptive Technology Strike Force (DIS-TECH) on February 16, 2023. The strike force, led by […]
Considering Texting About Work? Beware.
As the rise in remote work has led to an increased reliance on mobile devices to stay connected – with cellphones at our fingertips virtually 24/7 – the use of third-party messaging applications to communicate about work has become commonplace. From WhatsApp to Telegram, corporate executives, financial services professionals and […]
Is DOJ Looking to Bring Criminal Charges Under Sherman Act’s Section 2? ‘Yes, Absolutely’
On March 2, 2022, Richard Powers, the deputy assistant attorney general of the Antitrust Division of the US Department of Justice, said that the division is prepared – for the first time in decades – to bring criminal charges under Section 2 of the Sherman Act, which prohibits monopolists or […]
DOJ Previews Enforcement Policies Aimed at Clinical Trial Fraud
On December 9, 2021, one of the nation’s top healthcare prosecutors made clear that clinical trial fraud will be a major enforcement priority of President Joe Biden’s Department of Justice.
Early SEC Enforcement Trends from Chairman Gary Gensler’s First 100 Days
Gary Gensler was sworn in as chair of the Securities and Exchange Commission on April 17, 2021. Chairman Gensler has promised to strengthen transparency and accountability in the financial markets. Under Chairman Gensler, we expect the SEC’s Division of Enforcement – led by Gurbir Grewal, who began work at the agency on July 26 – […]
US Supreme Court Narrows Scope of Computer Fraud and Abuse Act in Van Buren, Remands LinkedIn
On June 3, 2021, the US Supreme Court issued its decision in Van Buren v. United States in the Court’s first-ever interpretation of the Computer Fraud and Abuse Act (CFAA), the federal anti-hacking statute. Van Buren presented the question of whether someone “exceeds authorized access” under the CFAA, see 18 U.S.C. § 1030(a)(2), by accessing a computer […]
SPAC Enforcement Risks Increase with Enhanced SEC Scrutiny
What happened In a recent client alert, we discussed the dramatic rise in offerings of special purpose acquisition companies (SPACs) and some of the attendant litigation and enforcement risks. A raft of recent public statements and actions by Securities and Exchange Commission (SEC) staff reflect the agency’s enhanced scrutiny of […]
SEC Brings Rare Charges in Alleged Regulation Fair Disclosure Violation
What happened The SEC recently brought charges against AT&T and three mid-level executives for selectively providing information to Wall Street analysts in alleged violation of Regulation Fair Disclosure (Reg FD). According to the complaint filed in the Southern District of New York, AT&T learned in March 2016 that a “steeper-than-expected” […]