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Government Investigations and White Collar Litigation Group

Category Archives: Enforcement and Prosecution Policy and Trends

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Compliance, Enforcement and Prosecution Policy and Trends, Government Contracts

Webinar: OSHA ETS Employee COVID-19 Vaccination and Testing Mandates

New Requirements, Tips and Traps for Large Employers November 10, 2021 Complimentary Webinar 1-2 p.m. (ET) | 12-1 p.m. (CT) | 10-11 a.m. (PT) REGISTER NOW On Nov. 4, 2021, the Occupational Safety and Health Administration (OSHA) issued an Emergency Temporary Standard (ETS) requiring employees of large employers either to get vaccinated or to test negative… Continue Reading
Enforcement and Prosecution Policy and Trends

Return to the Yates Memo: Deputy Attorney General Announces Tougher Approach to White Collar Enforcement

On October 28th, Deputy Attorney General Lisa Monaco announced that the U.S. Department of Justice (DOJ or Department) is renewing its focus on white collar crime and enforcement, in remarks delivered during the American Bar Association’s 36th National Institute on White Collar Crime. Deputy Attorney General Monaco made clear that the Department is significantly enhancing… Continue Reading
Enforcement and Prosecution Policy and Trends, Financial Institution Regulation

Department of Justice Announces National Cryptocurrency Enforcement Team

On October 6, 2021, the U.S. Department of Justice (DOJ) announced its plans for increased scrutiny of the cryptocurrency market with the creation of a National Cryptocurrency Enforcement Team (NCET) to pursue criminal investigations and actions against cryptocurrency misuse. The NCET will focus on “crimes committed by virtual currency exchanges, mixing and tumbling services, and… Continue Reading
Enforcement and Prosecution Policy and Trends, Fraud, Deception and False Claims

Department of Justice Announces Increased FCA Enforcement Through New Civil Cyber-Fraud Initiative

On October 6, 2021, the Department of Justice (DOJ) announced a new Civil Fraud Cyber Initiative to “combine the department’s expertise in civil fraud enforcement, government procurement and cybersecurity to combat new and emerging cyber threats to the security of sensitive information and critical systems.”… Continue Reading
Enforcement and Prosecution Policy and Trends, Government Contracts

Corporate Campaign Contributions Are a Crime, Independent Expenditures Legitimate: Sixth Circuit Explains the Difference

The Sixth Circuit has upheld the felony conviction of a former state party chair for illegal campaign contributions by a corporation he owned, in a case that both serves as an important reminder of the prohibition on corporate contributions to federal campaigns and shows that the Justice Department may be stepping up criminal election law… Continue Reading
Compliance, Enforcement and Prosecution Policy and Trends, Financial Institution Regulation, Securities and Commodities

FINRA’s Important Reminder to Firms—Don’t Forget to Supervise Third-Party Vendors

Overview Broker-dealers, like most companies, rely on third-party vendors for a wide variety of functions.  This common practice of outsourcing does not relieve a broker-dealer of its regulatory compliance and supervision obligations over the outsourced functions.  Accordingly, management and supervision of third-party vendors present important issues that merit careful attention from regulatory, compliance, and legal… Continue Reading
Compliance, Enforcement and Prosecution Policy and Trends, Sanctions, Trade Embargo, and Export Controls

Sanctions and Export Compliance Strategies for Supply Chains

The following is an excerpt from McGuireWoods’ recent contribution to the Global Investigations Review’s (GIR’s) The Guide to Sanctions – Second Edition published in July 2021. Authors Alex Brackett, Pat Rowan and Jason Cowley, each partners in the firm’s Government Investigations and White Collar Litigation department, penned a chapter on the Impacts of Sanctions and… Continue Reading
Enforcement and Prosecution Policy and Trends, Fraud, Deception and False Claims

Tide Is Turning Against FCA Case Dismissals

According to a July 28 article in Law360 by McGuireWoods lawyers Michael J. Podberesky, John S. Moran, Todd R. Steggerda, David Pivnick and Cassandra M. Burns, the U.S. Supreme Court’s recent decision declining to review an appeal of a Seventh Circuit case that could have resolved a three-way circuit split regarding the proper standard for… Continue Reading
Enforcement and Prosecution Policy and Trends, Fraud, Deception and False Claims

COVID-19 Fraud Surge: Criminal Enforcement of Pandemic-Related Fraud Reaches “Unprecedented Pace,” DOJ Warns

While the spread of COVID-19 may finally be slowing, government enforcement of pandemic-related fraud is not. It is surging. And that may explain why you are hearing from the government more than usual, or will soon. The U.S. Department of Justice (DOJ) announced last week that it has now charged nearly 500 defendants with crimes… Continue Reading
Compliance, Enforcement and Prosecution Policy and Trends, Securities and Commodities

CFPB’s “Change of Direction” After One Month: New Goals, More Attorneys

In the month since he became Acting Director of the Consumer Financial Protection Bureau, David Uejio has implemented a “change of direction” at the agency, making sweeping announcements on a weekly basis. Read our complete commentary on McGuireWoods’ Consumer FinSights blog, which assesses where the CFPB stands after the Biden administration’s first month and the likely… Continue Reading
Enforcement and Prosecution Policy and Trends, Fraud, Deception and False Claims

DOJ Indictment Highlights Methods Utilized by State Sponsored Cybercriminal Organization to Attack Major Industry and Government Entities

For the third time in less than a month, the United States Department of Justice (DOJ) announced a major enforcement action against an international cybercriminal organization that infiltrated public and private computer networks, fundamentally compromised these systems, and sought to obtain over a billion dollars from this illicit access. This past week’s indictment, which was… Continue Reading
Enforcement and Prosecution Policy and Trends, Financial Institution Regulation

CISA, FBI, and Treasury Issue Guidance on State Sponsored Cryptocurrency Malware Targeting Financial Institutions and Cryptocurrency Exchanges

This past week the Federal Bureau of Investigation (FBI), the Cybersecurity and Infrastructure Security Agency (CISA), and the Department of Treasury (Treasury) released a joint advisory report on HIDDEN COBRA—the cyber threat to cryptocurrency posed by North Korea—and provided mitigation recommendations for addressing this ongoing threat. This report was issued in conjunction with the unsealing… Continue Reading
Enforcement and Prosecution Policy and Trends, Fraud, Deception and False Claims, Government Contracts

Analysis of the DOJ’s 2020 FCA Statistics and the Trends Therein

The U.S. Department of Justice (DOJ) recently issued its annual press release summarizing fraud-related recoveries from False Claims Act (FCA) matters in the prior fiscal year. While the headline number for FY 2020 of $2.2 billion in settlements and judgments involving fraud and false claims against the government is down about $900 million from the… Continue Reading
Enforcement and Prosecution Policy and Trends, Fraud, Deception and False Claims

DOJ Accelerates Enforcement Efforts Against Cybercriminals Who Engage in Ransomware Attacks

On successive days last week, the Department of Justice (DOJ) unveiled enforcement actions against international cybercriminal organizations that utilized ransomware to infect computer systems and then extort payment, often in the form of cryptocurrency, from victims worldwide.  First, the Criminal Division’s Computer Crime and Intellectual Property Section and the U.S. Attorney’s Office for the Middle… Continue Reading
Compliance, Enforcement and Prosecution Policy and Trends, Securities and Commodities

Consolidated Financial Account Reports and Use of Vendors: FINRA Continues Regulatory Scrutiny – What’s Old is New

Overview Consolidated financial account reports can offer a broad – all-encompassing — view of customers’ investments regardless of where the assets are held and may even include non-securities assets. Customers often demand them and firms and financial advisers provide them. FINRA has had these types of communications to customers on its radar screen for years.… Continue Reading
Anti-Money Laundering, Enforcement and Prosecution Policy and Trends

The Brexit Deal; UK Crime Fighting with European Friends

Since Brexit, the relationship between the European Union (EU) and the UK concerning law enforcement cooperation is now governed by the UK-EU Trade and Cooperation Agreement (the Agreement). The UK Government state that the safety and security of British citizens is a top priority.  It argues that the Agreement provides a comprehensive package of operational… Continue Reading
Compliance, Enforcement and Prosecution Policy and Trends

New Due Process Protection Act Amends Criminal Rule 5, May Strengthen Defendants’ Brady Rights

A new law will require all federal judges to enter an order at the beginning of every criminal case advising prosecutors of their duties under Brady v. Maryland, 373 U.S. 83 (1963) to disclose exculpatory evidence to the defense. Intentional violations of the orders could subject prosecutors to stern sanctions – up to and including… Continue Reading
Compliance, Enforcement and Prosecution Policy and Trends, Financial Institution Regulation

Another Cop on the Beat? CFP Board Signals Increased Enforcement Focus

Financial advisors have long used the Certified Financial Planner designation as an indicator to potential clients that they meet high standards of professionalism and ethics within their field.  The Certified Financial Planner Board of Standards, Inc. (the “CFP Board”), which grants the designation, markets it as demonstrating that its holder meets strict ethical standards.  Yet… Continue Reading
Compliance, Enforcement and Prosecution Policy and Trends, Securities and Commodities

The SEC Speaks 2020: Enforcement Panel Signals Full Speed Ahead Regardless of the Pandemic

Senior officials from the U.S. Securities and Exchange Commission Division of Enforcement convened at a virtual The SEC Speaks conference panel to discuss fiscal year 2020 enforcement results and report on enforcement priorities. To no one’s surprise, the impact of the pandemic on enforcement was a significant part of the discussion. Read our alert for… Continue Reading
Enforcement and Prosecution Policy and Trends

The Tip of the Iceberg Emerges: Initial Wave of Class Actions Reflect How Private Causes of Action Will Add Significantly to Price Gouging Litigation

As pandemic response task forces at the federal and state levels ramp up price gouging investigations and enforcement actions across the country, civil plaintiffs attorneys have jumped to the forefront by utilizing private causes of action to file price gouging-based class action lawsuits against dozens of major retailers and food supply companies.   Senate Majority Leader… Continue Reading
Enforcement and Prosecution Policy and Trends

Price Gouging Investigations Are Coming: What Industry Needs to Understand

Update: please see our May 14 post for information on private causes of action to file a series of price gouging-based class action lawsuits against several dozen major retailers and food supply companies. In response to the national coronavirus health crisis, federal and state Attorneys General have elevated the investigation and prosecution of COVID-19-related crime,… Continue Reading
Compliance, Enforcement and Prosecution Policy and Trends, Financial Institution Regulation, Securities and Commodities

SEC Enforcement Co-Directors Issue Statement on Insider Trading

Under the leadership of U.S. Securities and Exchange Commission Chairman Jay Clayton, the SEC’s Division of Enforcement has made the protection of Main Street investors its overarching priority.  On March 23, 2020, Division of Enforcement Co-Directors Stephanie Avakian and Steven Peikin issued a statement to financial market participants re-emphasizing the SEC’s commitment to safeguard the… Continue Reading

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