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Point: Shootout Between Lawyers and Consultants
Five years ago, professionals who served the business world were actively seeking ways to blend across various professions. Accounting firms practiced law; law firms did consulting; and consultants practiced law. In large measure, the same still holds true today, but each of us is a little more reluctant to step out of his zone of comfort. In the post Enron/ Worldcom/Tyco environment, many professionals are on edge.
For lawyers and accountants, it is easier to define these zones. If your license permits you to engage in the practice, then so be it, regardless of your experience level. For consultants, the task is more difficult. What is the definition of a consultant? Who decides whether a self-professed consultant possesses the basic level of competency to engage in consulting services? To whom is the consultant accountable if he or she makes a mistake? And by what standards will his/her performance be measured should a transaction go bad? While all these questions are relevant for all types of consultants, they are particularly applicable for those specializing in the field of franchising.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
Compliance Officers: Recent Regulatory Guidance and Enforcement Actions and Mitigating the Risk of Personal Liability
This article explores legal developments over the past year that may impact compliance officer personal liability.