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Beyond Whistleblowing: Additional Highlights From the Department of Justice at the 2024 ABA White Collar Conference
As we wrote earlier this month , the Department of Justice (DOJ) made significant news at the recent American Bar Association White Collar Conference. But the Department didn’t stop at announcing its pilot whistleblower incentive program — Deputy Attorney General...
The Race to Report: DOJ Announces Pilot Whistleblower Program
In recent years, the Department of Justice (DOJ) has rolled out a significant and increasing number of carrots and sticks aimed at deterring and punishing white collar crime. Speaking at the American Bar Association White Collar Conference in San Francisco...
Lifting the Fog on the Foreign Corrupt Practices Act: Enforcement and Compliance Trends to Watch in San Francisco
As lawyers, corporate executives and federal law enforcement officials prepare to gather this week in San Francisco for the ABA’s 39th National Institute on White Collar Crime, we offer our takeaways from January’s Houston forum on the Foreign Corrupt Practice...
The ENRC Saga – Not Just a UK Concern
On 21 December 2023, Mr Justice Waksman handed down his judgment in the second trial of the Eurasian Natural Resources Corporation (ENRC) saga. The judgment, along with its earlier companions, is extraordinary in many ways and has been much written...
Federal Contractors Beware: New Hiring Restrictions Proposed on Companies Doing Business With the Federal Government
Earlier this week, the Federal Acquisition Regulatory Council proposed a new rule that would amend the Federal Acquisition Regulation (FAR) to impose new restrictions on federal contractors and subcontractors, including: (1) prohibiting, seeking or considering an applicant’s compensation history; (2)...
“Export Controls Are the New Sanctions” and Other Enforcement Trends for 2024
2023 was a banner year in the sanctions space and regulators seem primed to continue that performance in 2024. In December 2023, numerous government officials and industry experts convened at the New York Forum on Economic Sanctions to discuss lessons...
Compliance Risk After SEC Warning Against ‘AI Washing’
Bracewell’s David Shargel, Rachel Goldman and Patrick Morley write about the enforcement priority coming in 2024 as a result of a breakout year for generative artificial intelligence, with businesses of every kind racing to adopt AI tools. Companies and their compliance programs must take steps now to avoid costly regulatory sanctions and shareholder lawsuits.
Navigating Compliance Trends With a Roadmap to a Corporate Culture of Integrity
The Department of Justice has published — and continues to update and emphasize — a set of practical guidelines on what it views as an effective compliance program and how it makes decisions about bringing charges and evaluating resolutions. Companies...
What is AI Washing? The SEC’s Latest Target
Is AI the new green? Recent comments by Securities and Exchange Commission Chair Gary Gensler suggest the regulator is primed to begin turning its enforcement efforts against so-called “AI washing,” presenting a new area of risk for some companies that...
DOJ Spotlights Voluntary Self Disclosure in M&A as it Adapts to New National Security Threats
The past few months have seen numerous high-profile enforcement actions highlighting an increasing trend, what Deputy Attorney General Lisa Monaco called “the biggest shift in corporate criminal enforcement that I’ve seen during my time in government: the rapid expansion of...
Personal Devices and Messaging Platforms in the Workplace: Tips, Tactics and Best Practices for In-House Counsel
Federal regulators have cracked down on the use of texts messages and messaging platforms for business communications, using their broad authority to root out record retention violations, resulting in significant fines and sanctions. In 2022 alone, the Securities and Exchange...
SEC Cybersecurity Reporting Requirements for Public Companies: Applying Old Standards to New Risks
On July 26, 2023, the Securities and Exchange Commission (“SEC”) issued a final rule that requires registrants to provide enhanced and standardized disclosures regarding “cybersecurity risk management, strategy, governance and incidents.” This rule, the culmination of discussion following the March...
Supreme Court Reaffirms Registering To Do Business May Subject You to Lawsuits
Last week the US Supreme Court reaffirmed the constitutionality of state laws requiring businesses to consent to lawsuits in the state after registering with state authorities to conduct business there. In Mallory v. Norfolk Southern Railway Co ., [1] the...
DOJ to Prosecutors: Think Twice and Ask Permission Before Charging
Last week, Attorney General Merrick Garland issued a new DOJ charging and sentencing policy memorandum, replacing existing guidance to federal prosecutors in their exercise of prosecutorial discretion. The thrust of the extraordinary new policy is that prosecutors are no longer...
SEC Notches Win in Cryptocurrency Registration Battle
Scoring a victory for the Securities and Exchange Commission in its efforts to qualify digital tokens as securities, a New Hampshire federal court ruled this week that tokens sold by LBRY Inc., known as LBC, are securities and subject to...