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Legislative Update
In what has been a remarkably tumultuous month in the financial world, the reactions by various legislative and regulatory bodies have been formulated and enacted at a dizzying pace. Some have been in response to the financial crisis, and some simply timed out to coincide with it; but nevertheless, there is an incredible amount of material to digest and process. What will the effects be on the financial markets, will they ease the liquidity crisis, will they restore long-term consumer and investor confidence, and how and who will ultimately pay for them? The true answers will only be found over the course of time, but in the meantime, what follows is a short summary of some of the relevant highlights.
The Emergency Economic Stabilization Act of 2008
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.
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.
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.
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.
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.