‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInThe Chickenshit Club by Jesse Eisinger — what happened to the DoJ?
Eisinger, who borrows for his title Comey’s moderately profane appellation, details an unmistakable decline in the justice department’s willingness and ability to prosecute corporate crime. For the four years 2012-2015, white-collar cases made up just 10 per cent of the DoJ’s caseload — roughly one-half the share two decades earlier. “The justice system is broken,” […]
New Job Posting Indicates DOJ, U.K. Authorities to Further Collaborate on Fighting Cross-Border Fraud | Bloomberg BNA
The DOJ Dec. 9 announced a new attorney position in its Fraud Section in which the attorney will work two years in London. The attorney will spend the first year with the U.K. Financial Conduct Authority, and the second year with the U.K. Serious Fraud Office. After that, the attorney will return to Washington, D.C., […]
The FCPA Pipeline Is Bulging – FCPA Professor
Let’s take a trip way, way back in time. So far back you may hardly remember where you were or what you were doing. The year was 2007, April to be precise, and the DOJ and SEC announced (here and here) the “largest combined sanction ever imposed in an FCPA case.” The aggregate settlement amount? […]
Chesapeake receives DoJ subpoena on accounting for asset purchase | Reuters
Chesapeake Energy Corp said it received a subpoena from the U.S. Department of Justice seeking information on the accounting methodology for the acquisition and classification of oil and gas properties. via Chesapeake receives DoJ subpoena on accounting for asset purchase | Reuters
DOJ’s Patrick Stokes promoted, Daniel Kahn named acting head of FCPA unit | Compliance Week
The current head of the DOJ’s FCPA unit, Patrick Stokes, has been named Senior Deputy Chief of the Criminal Division’s Fraud Section. Daniel S. Kahn, Assistant Chief of the FCPA unit since 2013, will now serve as Acting Head of the FCPA unit. via DOJ’s Patrick Stokes promoted, Daniel Kahn named acting head of FCPA […]
Justice Department Reaches $470 Million Joint State-Federal Settlement with HSBC to Address Mortgage Loan Origination, Servicing and Foreclosure Abuses | DOJ
The Justice Department, the Department of Housing and Urban Development (HUD) and the Consumer Financial Protection Bureau, along with 49 state attorneys general and the District of Columbia’s attorney general, have reached a $470 million agreement with HSBC Bank USA NA and its affiliates (collectively, HSBC) to address mortgage origination, servicing and foreclosure abuses. via […]
Caldwell Explains New Compliance Officer Counsel | Compliance Week
During remarks at the Securities Industry and Financial Markets Association Compliance and Legal Society New York Regional Seminar, Leslie Caldwell, assistant attorney general for the Justice Department’s Criminal Division, offered some insight about the newly established compliance counsel and what metrics the compliance counsel will use to assess compliance programs. via Caldwell Explains New Compliance […]
DOJ Outlines New Policy Regarding White Collar Cases Against Individuals | WilmerHale
The Department of Justice has released a new policy intended to further the Department’s effort to hold individuals accountable for corporate wrongdoing. The policy was laid out in a September 9, 2015 memorandum authored by Deputy Attorney General Sally Quillian Yates. The new policy is more than a clarification of existing practices; it constitutes the […]
It’s Official – Throw the Employees Under the Bus — White Collar Crime Prof Blog
The new DOJ Policy (see here for the NYTimes story that includes DOJ Policy) makes the current practice of corporations “throwing employees under the bus,” official. It states, “[t]o be eligible of any cooperation credit, corporations must provide to the Department all relevant facts about the individuals involved in corporate misconduct.” Corporations have received deferred and […]
DOJ Provides “Best Practices” for Corporate Internal Investigations — HLS Forum on Corp. Gov. and Fin. Reg.
What does the Department of Justice think is a high-quality internal investigation? How does DOJ decide whether an investigation was good enough to help a company avoid, or at least mitigate, criminal charges? In recent speeches, DOJ has provided important guidance on its view of best practices, and some useful common-sense reminders, for our clients’ […]