‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInSFO Says UK Lawyers Still Grappling With DPAs – Risk & Compliance Journal. – WSJ
Corporate lawyers in the U.K. continue to grapple with how to negotiate with the Serious Fraud Office to secure deferred prosecution agreements in ways lawyers with experience in the U.S. process don’t, said David Green, the SFO’s director. “U.S. lawyers who are steeped in [negotiating deferred prosecution agreements] understand that this is the process, it […]
U.S. Aligns With Fokker Against Judge Who Called Penalty Light – Bloomberg Business
Judge Richard Leon in February rejected the government’s $21 million deferred-prosecution agreement between federal prosecutors and a Dutch aerospace firm it accused of illegally selling aircraft navigation parts and components to Iran — a move prosecutors called unprecedented. On Friday, Justice Department lawyers will ask a U.S. appeals court to reverse Leon’s decision, and revive […]
Rolls-Royce entangled in Brazil’s corruption scandal — CNNMoney
Rolls-Royce, the crown jewel of British engineering, has been dragged into Brazil’s colossal corruption scandal. The company said it was cooperating with the Brazilian authorities investigating bribery at state-owned oil giant Petrobras. via Rolls-Royce entangled in Brazil’s corruption scandal – CNNMoney
US agrees to deal with SEC staffer in stock-ownership case — Reuters
U.S. prosecutors have reached a deferred prosecution agreement with a Securities and Exchange Commission examiner charged with making false statements about his stock holdings that were prohibited under SEC ethics rules, according to a court filing made public Monday. via US agrees to deal with SEC staffer in stock-ownership case — Reuters
Deferred Prosecution Agreements in the UK: Worthy of their price? — The FCPA Blog
After Monday, deferred prosecution agreements (DPAs) will be available to the UK Serious Fraud Office (SFO) in its fight of financial crimes, including corruption. The SFO has stated that, although DPAs will be “a welcome addition to the prosecutor’s toolkit…,” its “preferred option” remains prosecution. via Deferred Prosecution Agreements in the UK: Worthy of their price? […]
SEC shows leniency to former hedge-fund administrator in a first for agency – The Washington Post
A former hedge-fund administrator will get a break for helping the Securities and Exchange Commission uncover fraud at the fund, an agreement that marks a first for the agency and makes use of a concept pioneered by its current chairman decades ago. The SEC announced Tuesday that it will forego significant enforcement action against Scott […]
SEC Announces First Deferred Prosecution Agreement With Individual — SEC Press Release
The Securities and Exchange Commission today announced a deferred prosecution agreement with a former hedge fund administrator who helped the agency take action against a hedge fund manager who stole investor assets. via SEC Announces First Deferred Prosecution Agreement With Individual — SEC Press Release
The Erosion Of Corporate Criminal Liability — FCPA Professor
Over the last two years, there has been significant media coverage of Securities and Exchange Commission settlements that contain no admissions of wrongdoing—sometimes referred to as “Neither Admit, Nor Deny” agreements—and the lack of criminal charges for the 2008 financial meltdown. Both are troubling developments given the role that Wall Street played in bringing about […]
A Plant Grows In Brooklyn: EDNY Judge Scrutinizes Deferred Prosecution Deal – Forbes
The approach taken to DPAs by Judges Gleeson and Boyle should, at a minimum, lead the government and defense counsel to be prepared to justify their agreement if questioned by a court. Further, the scrutiny of DPAs could encourage the government to enter non-prosecution agreements (NPAs) in lieu of DPAs, for, as Judge Gleeson observed, […]
Deferred Prosecution Agreements Prosecution Guidance — Bribery Library Blog
DPAs were introduced in Schedule 17 of the Crime and Courts Act 2013. The Schedule contains a requirement that the DPP and the Director of the SFO jointly issue a Code giving guidance for prosecutors on a number of matters, including the general principles to be applied in determining whether a DPA is likely to […]